"In many of the countries and regions where first-generation PCABs are launched, these are gradually taking over the market from the proton pump inhibitors (PPIs). Our ambition is to develop a unique next-generation PCAB that meets the medical need and provides the conditions to do exactly what AstraZeneca did when they launched the next-generation PPI, Nexium, twelve years after the introduction of Losec, i.e. to take over the market," said Christer Ahlberg, CEO of Cinclus Pharma.
Financial summary, October - December 2024
- Net sales amounted to TSEK 4,580 (0).
- Operating profit (EBIT) amounted to TSEK -56,889 (-39,754).
- The result for the period was TSEK -54,259 (-44,140) and earnings (loss) per share before and after dilution were SEK -1.17 (-1.68).
- Total cash flow for the period amounted to TSEK -79,197 (-63,400).
- Cash and cash equivalents at the end of the period amounted to TSEK 566,716 (87,972).
Financial summary, January - December 2024
- Net sales amounted to TSEK 4,580 (5,959).
- Operating profit (EBIT) amounted to TSEK -169,639 (-200,976).
- The result for the period was TSEK -168,031 (-215,118) and earnings (loss) per share before and after dilution were SEK -4.54 (-8.20).
- Total cash flow for the period amounted to TSEK 476,833 (-86,294).
- Cash and cash equivalents at the end of the period amounted to TSEK 566,716 (87,972).
Significant events during the period October - December 2024
- On October 12, 2024, linaprazan glurate was presented at UEG, United European Gastroenterology Week.
- On October 29, Cinclus Pharma announced that the company had reached agreement with the European Medicines Agency's (EMA) Paediatric Committee (PDCO) on the company's paediatric investigation plan (PIP).
- On November 22, Cinclus Pharma announced that the company had reached an agreement with the US Food and Drug Administration (FDA) regarding the company's pediatric study plan (iPSP).
- On November 28, Cinclus Pharma announced that the company's board of directors has decided to carry out a new share issue and immediately repurchase 854,430 C shares.
- The shares are being issued and repurchased in accordance with the long-term incentive programs, PSP 2024/2027 and ESOP 2024/2027, which were adopted by the extraordinary general meeting on June 3, 2024.
- On December 4, the company announced that its leading drug candidate, linaprazan glurate, has received its first marketing approval for the treatment of gastroesophageal reflux disease (GERD). The approval by the National Medical Products Administration (NMPA) paves the way for commercialization in China in 2025.
Significant events after the end of the period
- No significant events have occurred after the end of the period.
PRESENTATION OF THE INTERIM REPORT
A webcast will be held on February 20, 2025, at 10:00 CET via Inderes. Link to the event
https://financialhearings.com/event/51346
For additional information, please contact:
Christer Ahlberg, CEO
Phone: +46 70 675 33 30
e-mail: christer.ahlberg@cincluspharma.com
Maria Engström, CFO
Phone: +46 70 674 33 30
e-mail: maria.engstrom@cincluspharma.com
About Cinclus Pharma
Cinclus Pharma Holding AB (publ) is a clinical late stage pharma company developing a small molecule for the treatment of gastric acid-related diseases and disorders of the upper gastrointestinal tract. Its drug candidate linaprazan glurate represents a novel class of drugs, Potassium-Competitive Acid Blockers (P-CAB), and provides a fast-acting control of intragastric pH by a different mechanism of action than proton pump inhibitors (PPIs), with unique capacity to deliver acid control, pH>4, around the clock. For more information, please visit www.cincluspharma.com.
