Interim Report, January-September 2023

STOCKHOLM, SWEDEN / ACCESSWIRE / November 28, 2023 / Promore Pharma (STO:PROMO)(FRA:8T0)

July to September

• Net sales amounted to MSEK 0 (0)
• Net loss was MSEK -3.9 (-5.3), corresponding to earnings per share of SEK -0.06 (-0.09)
• Cash flow after financing activities amounted to MSEK -1.3 (-6.1)
• Cash amounted to MSEK 3.9 (23.5), compared to MSEK 17.8 on 31 December 2022

January to September

• Net sales amounted to MSEK 0.1 (0)
• Net loss was MSEK -14.7 (-19.9), corresponding to earnings per share of SEK -0.24 (-0.33)
• Cash flow after financing activities amounted to MSEK -13.9 (-21.8)

Significant events during January – September

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

Events after the reporting period

• In October the company announced the initiation of a voluntary liquidation.

” In my role as liquidator, I continue to review opportunities for a strategic transaction supported by the management team of the company that have been given notice of termination quote.”

Lars-Henrik Andersson, Liquidator

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.

Link to the report on our site

The full interim report is available at https://www.promorepharma.com/en/section/investors/financial-reports/

Attachments

Promore Pharma Q3 2023 ENG FINAL

SOURCE: Promore Pharma

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