STOCKHOLM, SE / ACCESSWIRE / May 05, 2022 / AlzeCure Pharma (STO:ALZCUR) (FRA:AC6)
AlzeCure Pharma AB (publ) (FN STO: ALZCUR) today announced that its interim report for the period January - March 2022 is now available on the company's website: www.alzecurepharma.com/en/section/investors/financial-reports/
"The first quarter of 2022 was yet another extremely active period for AlzeCure. We strengthened our financial position through a rights issue, with both current and new shareholders, which raised SEK 48.5 million before expenses for the company. In addition, we received feedback from the US Food and Drug Administration (FDA) regarding our Painless ACD440 project for neuropathic pain, which was in line with our expectations so that we can now move forward, as planned, and begin our Phase IIa clinical trial as soon as possible. We presented positive Alzstatin data for a new molecule during the quarter. We also published data showing the positive effect of NeuroRestore on mitochondrial activity. Moreover, the company reported that ACD856 crosses the blood-brain barrier in healthy volunteers, an important finding that supports continued development work. The ongoing MAD study with ACD856 is proceeding according to plan and is expected to be completed during the summer."
Martin Jönsson, CEO
Financial information for January - March, 2022
Figures in parentheses refer to the corresponding period of the previous year.
- Net sales during the period totaled SEK 0 thousand (0).
- Loss for the period totaled SEK -12,646 thousand (-22,962).
- Earnings per share, basic, totaled SEK -0.33 (-0.61).
- Total assets at the end of the period amounted to SEK 75,561 thousand (99,065).
- Cash and cash equivalents at the end of the period totaled SEK 25,683 thousand (94,163).
Significant events during the period January - March, 2022
- The company receives valuable feedback from the FDA supporting the continued clinical development program for ACD440, as well as preparations for the upcoming Phase II clinical trial.
- The Board of Directors approved a rights issue, subject to the approval of the Extraordinary General Meeting on March 1, 2022.
- The new share issue was completed on March 22 and raised SEK 48.5 million before expenses for the company.
- The company receives new indicative data from the ongoing clinical phase I MAD study with ACD856 showing that the substance reaches the brain, the target organ for the drug candidate which is developed as a treatment for Alzheimer's disease.
Significant events after the end of the period
- A directed set-off issue is carried out in April in connection with ACD440 entering phase II and Acturum Life investing in the company. The set-off issue is the result of a previously agreed milestone payment, which will be made in the form of 845,070 shares instead of a cash payment.
The full report is attached as PDF and is available on the company's website: www.alzecurepharma.com/en/section/investors/financial-reports/
For more information, please contact
Martin Jönsson, CEO
Tel: +46 707 86 94 43
[email protected]
About AlzeCure Pharma AB (publ)
AlzeCure® is a Swedish pharmaceutical company that develops new innovative small molecule drug therapies for the treatment of severe diseases and conditions that affect the central nervous system, such as Alzheimer's disease and pain - indications for which currently available treatment is very limited. The company is listed on Nasdaq First North Premier Growth Market and is developing several parallel drug candidates based on three research platforms: NeuroRestore®, Alzstatin® and Painless.
NeuroRestore consists of two symptomatic drug candidates where the unique mechanism of action allows for multiple indications, including Alzheimer's disease, as well as cognitive disorders associated with traumatic brain injury, sleep apnea and Parkinson's disease. The Alzstatin platform focuses on developing disease-modifying and preventive drug candidates for early treatment of Alzheimer's disease and comprises two drug candidates. Painless is the company's research platform in the field of pain and contains two projects: ACD440, which is a drug candidate in the clinical development phase for the treatment of neuropathic pain, and TrkA-NAM, which targets severe pain in conditions such as osteoarthritis. AlzeCure aims to pursue its own projects through preclinical research and development through an early clinical phase and is continually working on business development to find suitable solutions for license agreements with other pharmaceutical companies.
FNCA Sweden AB, +46(0)8 528 00 399 [email protected], is the company's Certified Adviser. For more information, please visit www.alzecurepharma.se
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SOURCE: AlzeCure Pharma