Interim report January – June 2023

STOCKHOLM, SE / ACCESSWIRE / August 30, 2023 / Promore Pharma (STO:PROMO)(FRA:8T0)

April to June

• Net sales amounted to MSEK 0.1 (0)
• Net loss was MSEK -3.7 (-6.1), corresponding to earnings per share of SEK -0.06 (-0.10)
• Cash flow after financing activities amounted to MSEK -4.2 (-6.8)
• Cash amounted to MSEK 5.2 (29.6), compared to MSEK 17.8 on 31 December 2022

January to June

• Net sales amounted to MSEK 0.1 (0)
• Net loss was MSEK -10.8 (-14.5), corresponding to earnings per share of SEK -0.18 (-0.24)
• Cash flow after financing activities amounted to MSEK -12.6 (-15.7)

Significant events during January – June

• In February, the milestone Clean file was reached in PHSU05.
• In April the results from the company’s Phase II study PHSU05 were announced. No clear differences in the efficacy on reducing the scarring were observed between ensereptide and placebo.
• In May, the company received a limited capital adequacy guarantee (Sw:” kapitaltäckningsgaranti”) to cover for working capital needs for the remainder of 2023.
• In June, the company informed that a number of measures had been taken to reduce the Company’s costs, which included the discontinuation of the ensereptide project and the termination of the Company’s key personnel.

Events after the reporting period

• In August it was reported that Promore engages Erik Penser Bank as liquidity provider.

“ The first six months of this year has been activity intense and strategically challenging.”

Jonas Ekblom, President, and CEO of Promore Pharma

About Promore Pharma

Promore Pharma is a biopharmaceutical company that develops pharmaceutical product candidates for bioactive wound care. Today, the company has two drug candidates in late clinical development stages, that are based on endogenous peptides, and thus have a strong safety profile. These two products are intended for treatment of chronic wounds, and prevention of scarring on the skin and other tissues. The company is listed on the Nasdaq First North Growth Market.

For additional information, please contact

Jonas Ekblom, CEO
Phone: [+46] 736 777 540
E-mail: jonas.ekblom@promorepharma.com

Erik Magnusson, CFO
Phone: [+46] 708 565 245
E-mail: erik.magnusson@promorepharma.com

Promore Pharmas Certified Adviser is Erik Penser Bank

Promore Pharma in brief

Promore Pharma is a biopharmaceutical company specialized in the development of locally administered first-in-category pharmaceuticals for indications with high unmet medical needs, where very few efficacious prescription pharmaceuticals are available. Promore Pharma’s leading project, ropocamptide (LL-37) has recently been evaluated in a clinical phase IIb study with positive results in patients with venous leg ulcers (VLUs). The company aslo deems that the product candidate potentially can be used for other indications, such as treatment of diabetic foot ulcers and cancer wounds. The company is listed on Nasdaq First North Growth Market.This information is information that Promore Pharma 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 2023-08-30 17:03 CEST.

Attachments

Promore Pharma Q2 2023 ENG FINAL

SOURCE: Promore Pharma

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