PRESS RELEASE
August 21, 2019
Financial highlights
H1 2019 (H1 2018)
- Net revenues were SEK 2.4 M (8.1 M)
- EBIT was SEK -49.7 (-39.9 M)
- Net profit/loss was SEK -44.6 M (-33.0)
- Earnings per share were SEK -1.89 (-1.51)
- Diluted earnings per share were SEK -1.89 (-1.51)
Q2 2019 (Q2 2018)
- Net revenues were SEK 0.7 M (3.8 M)
- EBIT was SEK -20.6 M (-24.2 M)
- Net profit/loss was SEK -19.8 (-19.6 M)
- Earnings per share were SEK -0.83 (-0.89)
- Diluted earnings per share were SEK -0.83 (-0.89)
Business highlights in Q2 2019
- Saniona completed a Rights Issue providing Saniona with gross proceeds of SEK 66.5 million, which was paid in after the balance sheet date. The rights issue secures Saniona's near term financing requirements and enables the company to complete the ongoing Phase 2a studies with Tesomet for the treatment of Prader-Willi syndrome and hypothalamic obesity and initiate discussions with regulatory agencies for start of Phase 2b/3 studies in 2020.
- Saniona established a Scientific Advisory Board for the development of Tesomet in PWS.
- In May, the annual shareholders' meeting resolved to elect Ed Salzman as new ordinary Board member.
Significant events after the reporting period
- Saniona selected a development candidate, SAN903, in the IK program. Based on work done to date, Saniona has elected to focus SAN903 initially on the treatment of Crohn's disease and colitis. The program may potentially be ready for Phase 1 clinical studies within 18 months.
- In July Saniona received the gross proceeds of SEK 66.5 million from the Rights Issue. The net proceeds after transaction costs is SEK 53.7 million. The number of shares outstanding after the Rights Issue is 27,763,347.
Comments from the CEO
"It is an exciting period in the development of the company and our pipeline is advancing apace. Our most advanced program, tesofensine, is expected to be launched next year for obesity and we are now completing exploratory clinical efficacy and dose finding studies of our key asset, Tesomet, in the rare eating disorder Prader Willy Syndrome. In parallel, our study with Tesomet in hypothalamic obesity is progressing well," says Jørgen Drejer, CEO of Saniona.
Read the complete Interim Report attached below.
For more information, please contact
Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: tf@saniona.com
This information is such information as Saniona 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 above, at 08:00 a.m. CEST on August 21, 2019.
About Saniona
Saniona is a research and development company focused on drugs for diseases of the central nervous system and eating disorders. The company has five programs in clinical development. Saniona intends to develop and commercialize treatments for orphan indications such as Prader-Willi syndrome and hypothalamic obesity on its own. The research is focused on ion channels and the company has a broad portfolio of research programs. Saniona has partnerships with Boehringer Ingelheim GmbH, Productos Medix, S.A de S.V and Cadent Therapeutics. Saniona is based in Copenhagen, Denmark, and the company's shares are listed at Nasdaq Stockholm Small Cap.
Attachment
- 20190821 - Saniona Q2 Report 2019 - UK (https://ml-eu.globenewswire.com/Resource/Download/ae7124d6-fe3d-4306-9f6b-8253f240172b)
