STOCKHOLM, SWEDEN - 23 August 2024: Modus Therapeutics Holding AB ("Modus Therapeutics") hereby publishes an interim report for the second quarter 2024. The report is available as an attached document and on the company's website (www.modustx.com). Below is a summary of the interim report.
John Öhd, Modus Therapeutics' CEO, commented:" Modus has strategically partnered with Latis for our upcoming study in Italy, recognizing the importance of aligning with a CRO that understands both the scientific landscape and the specific needs of our company. Our longstanding collaboration with prominent preclinical and clinical experts in the field from the University of Brescia and the University Hospital in Verona, highlights the value of operating within this robust scientific ecosystem, where Latis's local expertise will be instrumental in driving our groundbreaking research forward."
The second quarter in figures
- The loss after tax amounted to TSEK 4 738 (4 695).
- The loss per share amounted to SEK 0,13 (0,29).
- The cash flow from current operations was negative in the amount of TSEK 3 424 (4 267).
The first half-year in figures
- The loss after tax amounted to TSEK 7 843 (10 735).
- The loss per share amounted to SEK 0,22 (0,67).
- The cash flow from current operations was negative in the amount of TSEK 7 089 (10 602).
Important events during the second quarter
- The annual general meeting was held on May 17.
- Modus Therapeutics participated in Pharma partnering summit, Basel.
Important events after the end of the period
No event to report.
CEO John Öhd will provide comments on the report in an interview with Jonathan Furelid on August 23 at 14:00 Link to Interview: https://www.youtube.com/watch?v=3CH3AHoOTdc
For more information on Modus Therapeutics, please contact:
John Öhd, CEO, Modus Therapeutics
Phone: +46 (0) 70 766 80 97
Email: john.ohd@modustx.com
This information is information that Modus Therapeutics Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-23 08:00 CEST.
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Website: www.skmg.se
About Modus Therapeutics and sevuparin
Modus is a Swedish biotechnology company that is developing its proprietary polysaccharide sevuparin as a potential treatment for several major healthcare needs including sepsis, endotoxemia, severe malaria and other disorders with severe systemic inflammation as well as states of anemia, related to chronic inflammation such as kidney disease. There is a great need for new treatments that can effectively treat these conditions. Modus' ambition is to create a paradigm shift in the care of these diseases, where sevuparin could provide therapeutic benefits. Modus Therapeutics is listed on the Nasdaq First North Growth market ("MODTX"). More information is available at www.modustx.com.
Sevuparin is a clinical stage, innovative proprietary polysaccharide drug with a multimodal mechanism of action, including immunomodulating, anti-adhesive and anti-aggregate effects. Sevuparin is a heparinoid with markedly attenuated anti-coagulation features that allows severalfold higher doses to be given, compared to regular heparinoids, without the associated risk for bleeding side-effects. Two routes of administration of sevuparin are currently being tested - an IV formulation for in-patient administration and a subcutaneous formulation that allows ambulatory and home care administration.
