NeuroVive out-licenses targeted LHON therapy to BridgeBio
STOCKHOLM, Aug. 21, 2018 /PRNewswire/ -- Important events January-June 2018
- NeuroVive out-licenses targeted LHON therapy to BridgeBio Pharma's new subsidiary Fortify Therapeutics. The agreement has a total potential value of approximately $60 million USD including any royalties.
- NeuroVive conducts a preferential rights issue.
- NeuroVive and Yungjin reports positive KL1333 phase I clinical study results paving the way for further clinical development.
- KL1333 receives FDA Orphan Drug Designation for treatment of mitochondrial diseases.
- NeuroVive initiates collaboration with leading US TBI research organization TRACK-TBI, a network of world-leading TBI clinicians and researchers.
- Annual General Meeting in Lund, April 27.
Financials second quarter (April-June 2018)
- Net revenues: SEK 0 (0)
- Other operating income: SEK 1,278,000 (88,000)
- Loss before tax: SEK -25,481,000 (-22,256,000)
- Loss per share:* SEK -0,40 (-0,45)
- Diluted loss per share:** SEK -0,40 (-0,45)
Financials first six months (January-June 2018)
- Net revenues: SEK 0 (27,000)
- Other operating income: SEK 1,452,000 (152,000)
- Loss before tax: SEK -38,534,000 (-43,646,000)
- Loss per share:* SEK -0,61 (-0,79)
- Diluted loss per share:** SEK -0,61 (-0,79)
* Profit/loss for the period divided by average number of shares before dilution at the end of the period.
** Profit/loss for the period divided by average number of shares after dilution at the end of the period.
This information is information that NeuroVive Pharmaceutical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:30 a.m. CEST on 21 August 2018.
For more information please contact:
NeuroVive Pharmaceutical AB (publ)
SE-223 81 Lund
Tel: +46(0)46-275-62-20 (switchboard)
NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine, with one project in clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT®) and one project in clinical phase I (KL1333) for genetic mitochondrial diseases. The R&D portfolio also consists of projects for genetic mitochondrial disorders, cancer and NASH. The company advances drugs for rare diseases through clinical development into the market. For projects for common indications the goal is out-licensing in the preclinical phase. A subset of compounds under NeuroVive's NVP015 program has been licenced to Fortify Therapeutics, a BridgeBio company, for local treatment development of Leber's Hereditary Optic Neuropathy (LHON). NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF).
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
NeuroVive Pharmaceutical AB Interim report January â€" June 2018
SOURCE NeuroVive Pharmaceutical