LIDDS Interim report January – September 2020
JANUARY – SEPTEMBER 2020
- Net sales amounted to MSEK 0.0 (0.0)
- Operating expenses amounted to MSEK -19.8 (-22.9)
- Profit/loss before and after tax amounted to MSEK -19.8 (-22.9)
- Earnings per share amounted to SEK -0.76 (-0.98)
- Cash flow from operating activities amounted to MSEK -17.3 (-21.4)
- Equity amounted to MSEK 55.2 (15.4) and the debt/equity ratio was 87% (68%)
JULY – SEPTEMBER 2020
- Net sales amounted to MSEK 0.0 (0.0)
- Operating expenses amounted to MSEK -6.6 (-7.4)
- Profit/loss before and after tax amounted to MSEK -6.6 (-7.4)
- Earnings per share amounted to SEK -0.23 (-0.31) SEK
- Cash flow from operating activities amounted to MSEK -5.2 (-5.5)
- Equity amounted to MSEK 55.2 (15.4) and the debt/equity ratio was 87% (68%)
SIGNIFICANT EVENTS DURING THE THIRD QUARTER 2020
- LIDDS carried out a preferential issue of shares and a directed issue, which in combination contributed MSEK 59.3 to the company before issue expenses. The issue was heavily oversubscribed with a subscription ratio of 372 percent. No guarantee commitments made in the preferential issue were utilized. The share issue was registered with the Swedish Companies Registration Office in the third quarter.
- The Chinese National Medical Products Administration (NMPA) has established a fast track, “Conditional Market Approval” (CMA), for the registration of pharmaceuticals for which there is a significant medical need. LIDDS announced that the Chinese licensing partner, Puheng Pharma, intends to apply for a CMA in the autumn and that they are now preparing the application documents. If the application is granted, it could result in a faster market registration process.
- Licensing of Liproca® Depot is still in an intensive phase with a number of interested pharmaceutical companies that have had access to LIDDS’s data room since last summer.
- In the phase I trial where NanoZolid® is combined with docetaxel for the treatment of solid tumours, the dose escalation programme is ongoing. Since last summer, 1.5 ml of NZ-DTX has been administered intratumorally and all patients treated thus far have tolerated the treatment well.
SIGNIFICANT EVENTS FOLLOWING THE END OF THE PERIOD
- The preclinical programme for NZ-TLR9 has been completed with very positive results regarding tumour control and survival. The results confirm a depot effect from NZ-TLR9 for at least six weeks, which corresponds to the clinical need. Important immune markers have been identified ahead of the phase I trial, which is scheduled to commence in 2021.
- The employee stock option programme ended on October 15 and 0.8% of the options were subscribed for.
- The final results from the open OLE trial, where 12 patients in the LPC-004 trial were offered a second injection of Liproca® Depot, showed that half of the patients did not need another injection as PSA levels remained below the initial value after a 10-month period. For the other patients who received a second Liproca® Depot injection in the OLE trial, the PSA value after two months of follow-up was -28%.
- In the phase I trial with NZ-DTX, the final injection was administered at the current dose interval and new patients are screened for the next dose level.
- A scientific article summarizing ongoing research with TLR9 for the treatment of solid tumours has been published by Dr. Diwakar Davar et al at the University of Pittsburgh. The LIDDS project where NanoZolid® is combined with TLR9 with depot effect, is described in the article.
The interim report is available on the company’s website, go to https://liddspharma.com/investors/#financial-reports
For more information, please contact:
Monica Wallter, CEO, LIDDS +46 (0)737 07 09 22 monica.wallter@liddspharma.com
LIDDS AB (PLC) is required to disclose this information in accordance with the EU Market Abuse Regulation. The information was submitted through the agency of the aforementioned contact, for publication on November 19, 2020 at 08:45 CET.
LIDDS AB (PLC) is a Swedish-based pharmaceutical company with a unique drug delivery technology NanoZolid®. NanoZolid® is a clinically validated drug development technology and is superior in its ability to provide a controlled and sustained release of active drug substances for up to six months. LIDDS has licensing agreements where NanoZolid is combined with antiandrogens, and also has in-house development projects in the clinical as well as the preclinical phase for cytostatics and immunoactive agents. LIDDS (LIDDS) shares are listed on Nasdaq First North Growth Market. Redeye AB, certifiedadviser@redeye.se, +46 (0)8 121 576 90, is a certified adviser to LIDDS. For more information, please visit www.liddspharma.com.
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