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Infant Bacterial Therapeutics AB (publ) Interim Management Statement, January 1 – March 30, 2018
Message from the CEO
During the past year, IBT passed the most important milestones in the company's history. The company's drug candidate, IBP-9414, which we believe will prevent necrotizing enterocolitis, has demonstrated similar safety and tolerability profile in a Phase II study focused on safety and tolerability when IBP-9414 was administered in comparison with placebo.
During the spring of 2018 we ensured that we now have the resources needed to complete the Pivotal Phase III study, that we chose to call "The Connection Study". We expect to be able to announce "first patient in" to this pivotal trial in the near term. The last pieces of the puzzle in relation to our Clinical Research Organization (CRO) and Clinical Trial Material (CTM) vendors are also soon in place.
As previously communicated, IBT has applied for listing on Nasdaq's main list. We will meet all requirements for IBT to be approved for the main list. If nothing unanticipated occurs, I expect IBT to be approved on the main list during the third quarter of 2018.
We have also established an Advisory Board to aid in evaluating other new development projects.
Here, IBT will be restrictive with focus on projects that can be taken to market and which satisfy an unmet medical need on parity with IBP-9414. I will return with more information about and when we identify additional valuable projects.
In summary, everything is progressing according to plan and we are looking forward to getting the study started and listing change approved in the near future.
Chief Executive Officer
Selected financial data
|Total comprehensive income||-||117||238|
|Operating profit/loss||-9 144||-8 563||-36 141|
|Result after tax, SEK||-9 144||-8 563||-36 156|
|Total assets||597 313||100 925||175 024|
|Cash flow for the period (SEK)||422 807||-9 113||64 488|
|Cash flow per share for the period (SEK)||44.61||-1.66||11.53|
|Cash||581 081||84 673||158 274|
|Earnings per share, weighted average, before and after dilution (SEK)||-0.96||-1.56||-6.5|
|Equity per share (SEK)||52.48||17.56||25.50|
|Equity ratio (%)||98%||96%||96%|
Significant events during the first quarter January – March 2018
- On January 8, 2018, the EGM decided on a new share issue amounting to SEK 439.1m prior to transaction costs and on January 31 the share issue was fully subscribed
Significant events after the reporting period
- No significant events have occurred after the reporting period
About Infant Bacterial Therapeutics AB
Infant Bacterial Therapeutics AB (publ) (“IBT”) is a clinical stage pharmaceutical company with a vision to develop drugs influencing the infant microbiome, and thereby prevent or treat rare diseases affecting infants.
IBT is currently developing its lead drug candidate IBP-9414 to prevent NEC in premature infants. IBP-9414 contains the active substance Lactobacillus reuteri, which is a human bacterial strain naturally present in breast milk. IBT is further pursuing a second rare disease program IBP-1016 for the treatment of an unmet medical need in gastroschisis, a severe congenital disorder in infants. By developing these drugs, IBT has the potential to fulfil unmet needs for diseases where there are currently no prevention or treatment therapies available.
IBT is listed on Nasdaq First North Premier with Erik Penser Bank as Certified Adviser.
This information is information that Infant Bacterial Therapeutics AB is obliged to make public pursuant to the EU Market Abuse Regulation and which is to be made public according to the Nasdaq regulations for companies listed on Nasdaq First North. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 CET on May 15, 2018.