SynAct Pharma AB: SynAct Pharma today publishes the fourth quarter and annual results of 2023

"We have excellent opportunities before us, and we remain focused on delivering patient, company and shareholder value," said Torbjørn Bjerke, CEO.

October - December 2023

• The Group's net sales amounted to SEK 0 (0) thousand.
• Operating expenses amounted to SEK 91,062 (30,523) thousand, an increase of 198%.
• The Group's loss after tax amounted to SEK 90,543 (30,477) thousand.
• The Group's earnings per share before and after dilution amounted to SEK -2.58 (-1.06).
• Cash flow from operating activities amounted to SEK -20,395 (-22,306) thousand.
• Cash flow from financing activities amounted to SEK 54,561 (76,025) thousand.
• Cash flow for the period amounted to SEK 34,166 (53,747) thousand.
• Cash and cash equivalents at the end of the period amounted to SEK 62,395 (108,245) thousand.

January - December 2023

• The Group's net sales amounted to SEK 0 (0) thousand.
• Operating expenses amounted to SEK 224,496 (105,705) thousand, an increase of 112%, driven primarily by the two clinical studies in RA and higher administrative costs caused by the acquisition of TXP and write down of goodwill.
• The Group's loss after tax amounted to SEK 215,810 (99,205) thousand.
• The Group's earnings per share before and after dilution amounted to SEK -6.64 (-3.60).
• Cash flow from operating activities amounted to SEK -100,177 (-117,555) thousand.
• Cash flow from financing activities amounted to SEK 53,984 (200,712) thousand.
• Cash flow for the period amounted to SEK -45,823 (83,184) thousand

Significant events during the period

• Oct 3 - SynAct announces additional data from the EXPAND P2b clinical trial further supporting efficacy and activity seen in patients with elevated CRP.
• Oct 11 - SynAct carries out a directed issue of shares and warrants raising initial gross proceeds of SEK 60.5 million.
• Oct 12 - SynAct publishes prospectus in connection with admission to trading of new shares on Nasdaq Stockholm.
• Oct 31 - Change in number of shares and votes in SynAct Pharma. As of October 31, 2023, the total number of shares and votes in SynAct Pharma AB amounts to 35,570,980.
• Nov 1 - SynAct announces evaluation of the 4-week RESOLVE P2a clinical trial in moderate to severely active rheumatoid arthritis patients with an incomplete response to methotrexate.

Significant events after the end of the period

• Jan 28 - The Board of Directors of SynAct Pharma AB has
• received a request to convene an EGM
• Jan 30 - SynAct expands its Rheumatology Clinical Advisory Board with three new highly experienced advisors.
• Feb 1 - SynAct appoints Kirsten Harting as Chief Medical Officer.
• Feb 7 - Notice of extraordinary general meeting in SynAct Pharma AB. Upon request by >10% of the shareholders, an extra general meeting has been set to March 20, 2024.
• Feb. 22 - SynAct announces additional data from the EXPAND P2b clinical trial supporting continued development of the compound in rheumatoid arthritis.
  
  

For further information about SynAct Pharma AB, please contact:
Torbjørn Bjerke
CEO, SynAct Pharma AB
Phone: [phone]
Email: [e-mail]
Email: [e-mail]

Björn Westberg
CFO, SynAct Pharma AB
Phone: [phone]
Email: [e-mail]

About SynAct Pharma AB
SynAct Pharma AB (Nasdaq Stockholm: SYNACT) is a clinical stage biotechnology company focused on the resolution of inflammation through the selective activation of the melanocortin system. The company has a broad portfolio of oral and injectable selective melanocortin agonists aimed at inducing anti-inflammatory and inflammation resolution activity to help patients achieve immune balance and overcome their inflammation. For more information: www.synactpharma.com.