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Active Biotech AB Year-end report January - December 2017

3.0
3.0 from 14 votes
Thursday, February 15, 2018

Active Biotech AB Year-end report January - December 2017

Fourth quarter in brief

  • The primary clinical endpoint was not met in the Phase II study (ARPEGGIO) with laquinimod in PPMS
  • Patent regarding tasquinimod for the treatment of acute leukemia granted in Europe
  • The process to divest the company's property in Lund is ongoing
  • On December 7, the company announced that funding for the next 12 month period was not guaranteed. See further below "Events after the end of the period" relating to a new share issue


Other significant events during the January-December period

  • Patent regarding tasquinimod for the treatment of multiple myeloma (MM) granted in Europe
  • FDA granted orphan drug status for tasquinimod for the treatment of MM.
  • The primary clinical endpoint in the Phase III study of laquinimod in RRMS (CONCERTO) was not met. The secondary endpoints were met in line with previous studies
  • Helén Tuvesson was appointed CEO of Active Biotech
  • The first product patent in the SILC project was granted in the US
  • The decision was taken to discontinue the company's laboratory animal facility in Lund
  • The Phase II study of laquinimod in Huntington's disease (LEGATO-HD) is ongoing. Results are expected in the second half of 2018
  • The ANYARA project is proceeding, with planned start of clinical studies in the second half of 2018
  • Out-licensing activities are continuing for the tasquinimod, SILC and paquinimod projects


Events after the end of the period

  • The Board of Directors proposes a new share issue of approximately MSEK 48, with pre-emptive rights for the shareholders. An extraordinary general meeting to be held on March 19, 2018
  • In connection with the new share issue, the company has received a permanent waiver from its commitment to the bank that finances the company's property in Lund that the company's liquidity should never fall below MSEK 30
  • The company again has funding for the coming 12 month period
  • Patent application regarding tasquinimod for the treatment of MM allowed in the US
  • Application for the second product patent in the SILC project allowed in the US


Contacts:
Active Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Phone: +46 (0)46-19 20 00

Helén Tuvesson, CEO
Phone: +46 (0)46-19 21 56

Source: Active Biotech AB
3.0
3.0 from 14 votes
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