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Saniona publishes its interim report for the second quarter 2018

PRESS RELEASE

August 22, 2018

Financial highlights

H1 2018 (H1 2017)

  • Net revenues were SEK 8.1 M (11.9 M)
  • EBIT was SEK -39.9 M (-25.4 M)
  • Net profit/loss was SEK -33.0 M (-21.1 M)
  • Earnings per share were SEK -1.51 (-1.00)
  • Diluted earnings per share were SEK -1.51 (-1.00)

Q2 2018 (Q2 2017)

  • Net revenues were SEK 3.8 M (4.3 M)
  • EBIT was SEK -24.2 M (-17.9 M)
  • Net profit/loss was SEK -19.6 M (-14.7 M)
  • Earnings per share were SEK -0.89 (-0.69)
  • Diluted earnings per share were SEK -0.89 (-0.69)

Business highlights in Q2 2018

  • Saniona progressed to second part of Phase 2a study for Tesomet in Prader-Willi Syndrome based on positive results in adult patients
  • Saniona successfully completed a Phase 1 study with the new Tesomet tablet
  • Saniona successfully completed the preclinical toxicology studies for Tesomet opening op for long-term clinical studies
  • Saniona announced that it plans Phase 2a study for treatment of hypothalamic obesity
  • Saniona gained full rights to BenevolentAI program following termination of collaboration
  • Saniona awarded grant of SEK 1.4 million for Kv7 program

Significant events after the reporting period

  • Saniona received research milestone payment of € 4 million (SEK 41.8 million) as a result of the candidate selection by Boehringer Ingelheim

Comments from the CEO         

"The milestone from Boehringer Ingelheim in the third quarter finances the significant progress on our preclinical and clinical programs during the first half of 2018”, says Jørgen Drejer, CEO of Saniona.

Read the complete Interim Report attached below.

For more information, please contact

Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: tf@saniona.com

The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CEDT on August 22, 2018.

About Saniona

Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and treatment of pain. Saniona has four programs in clinical development including three late stage clinical programs focused on the development of treatments to effectively regulate obsessions, cravings and addictions related to food and drugs. Saniona intends to develop and commercialize treatments for orphan indications such as Prader-Willi syndrome on its own and engage in partnerships with larger entities for development programs aiming to treat large indications such as obesity. The company’s research is focused on ion channels, which makes up a unique protein class that enables and controls the passage of charged ions across cell membranes. Saniona has ongoing collaboration agreements with Boehringer Ingelheim GmbH, Productos Medix, S.A de S.V and Cadent Therapeutics. Saniona’s research center is based in Copenhagen, Denmark, and the company’s shares are listed at Nasdaq Stockholm Small Cap (OMX: SANION). Read more at www.saniona.com.

 

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Wednesday, August 22, 2018 - 02:00