INTERIM REPORT JANUARY–MARCH 2009
The quarter in brief
• Net sales for the period amounted to MSEK 2.2 (1.7)
• Net loss for the period amounted to MSEK 45.9 (51.8)
• Loss per share amounted to SEK 0.40 (0.45)
• Cash flow from operating activities for the period amounted to MSEK -41.0 (-56.0). Cash, cash equivalents and other short-term investments totaled MSEK 200.4 (375.7) at the end of the period
• At The Annual American College of Cardiology Meeting in Orlando, Florida, March 29, 2009, results from Karo Bio’s phase IIb study with eprotirome as add-on to statin treatment was presented in the Late breaking Clinical Trial Session
• In March, positive results from the phase I program with KB3305 were reported. In addition to healthy volunteers, a group of type 2 diabetes patients was included in the trials. The results show that KB3305 induces a profound, clinically relevant and statistically significant lowering of fasting blood glucose and an improvement of glucose tolerance in patients with type 2 diabetes. The safety profile was acceptable and no serious adverse events were recorded.
Significant events after the end of the reporting period
• There are no significant events after the end of the reporting period to report
For further information, please contact:
Per Olof Wallström, President, tel. +46 8 608 60 20
Per Otteskog, Senior Vice President Investor Relations, tel. +46 8 608 60 18
Erika Johnson, Chief Financial Officer, tel. +46 8 608 60 52
Legal disclaimer
This financial report includes statements that are forward looking and actual results may differ materially from those stated. In addition to the factors discussed, among other factors that may affect results are development within research programs, including development in preclinical and clinical trials, the impact of competing research programs, the effect of economic conditions, the effectiveness of the Company’s intellectual property rights and preclusions of potential third party’s intellectual property rights, technological development, exchange rate and interest rate fluctuations, and political risks.
This report has not been subject to review by the company’s auditors.