July - September 2024
- Net sales amounted to 0 MSEK
- The operating result for the period was -1.1 MSEK
- The net result was -0.9 MSEK corresponding to earnings per share of SEK -0.01
- Cash flow from operating activities amounted
to -1.4 MSEK - Cash and cash equivalents amounted to 6.6 MSEK
January - September 2024
- Net sales amounted to 0 MSEK
- The operating result for the period was -3.5 MSEK
- The net result was -3.3 MSEK corresponding to earnings per share of SEK -0.03
- Cash flow from operating activities amounted
to -4.5 MSEK
Significant events January - September 2024
- On the Extraordinary General Meeting of shareholders on the 9 January 2024 Daniel Lifveredson, Torbjörn Browall and Lars-Inge Sjöqvist were elected new members of the Board.
- In January it was announced that an agreement to acquire Noviga Research AB had been signed.
- In May, Mats Wiking was appointed new CEO from 1 September 2024.
CEO Statement
A fundamental review has been carried out of the company's strategy
During the past quarter, we have continued to reduce the cost-base for the company, which is partly visible in this quarterly report. Future quarters will show a low cost-base (and negative cash flow), which is something the company can build on.
The company's current strategy is to focus on the three projects we assess to have the greatest potential for commercial success. These are Nanoimod (where we are looking for a license partner), Nanodotax (where we intend to start an investigator-led study) and NOV202.
Given the current difficulties with raising capital over the market and LIDDS's current low valuation, it is our strategy to find funding for clinical projects and other further development in other ways. This may involve license deals/partnerships, financing of the subsidiary Noviga Research AB, or targeted issues.
We hope to be able to bring more clarity on these issues to you, our shareholders, in the coming quarters.
The board and I are aware that communication to the market has been sparse, but we have as a general strategy to notify the market when we make significant decisions or when we have achieved significant successes or setbacks.
Mats Wiking
CEO and CFO
The interim report is available on the company's website https://liddspharma.com/en/investors/financial-reports/
For additional information, please contact
Mats Wiking, CEO and CFO
Phone: +46 (0)70 620 04 00
E-mail: mats.wiking@liddspharma.com
LIDDS' Certified Adviser is Redeye AB
LIDDS in brief:
LIDDS is a Swedish pharmaceutical company focused on the development of oncology drugs. LIDDS has a proprietary drug delivery technology, NanoZolid®, on which several projects are based. With NanoZolid, LIDDS can formulate drugs for local/intratumoral administration, with a maintained and controlled release and with minimal negative side-effects. In addition to these projects, LIDDS develops proprietary drug candidate NOV202 that have shown very good results in pre-clinical studies. The company is listed on Nasdaq First North Growth market.
