PRESS RELEASE
November 15, 2016
Financial highlights
Jan - Sep 2016 (Jan - Sep 2015)
- Net revenues were SEK 69.5 M (11.8 M)
- EBIT was SEK 19.2 M (-22.7 M)
- Earnings per share were SEK 0.70 (-1.07)
- Diluted earnings per share were SEK 0.70 (-1.07)
Q3 2016 (Q3 2015)
- Net revenues were SEK 50.6 M (2.0 M)
- EBIT was SEK 33.7 M (-10.9 M)
- Earnings per share were SEK 1.32 (-0.46)
- Diluted earnings per share were SEK 1.31 (-0.46)
Business highlights in Q3 2016
- Saniona and Boehringer Ingelheim signed collaboration agreement in schizophrenia. Saniona may receive up to €90 million in milestone payments including an upfront payment of €5 million upon signing of the agreement. Furthermore, Saniona is eligible to receive royalties on worldwide net sales of any resulting products under the collaboration.
- Three public grants awarded for research programs totaling SEK 5.3 million.
- Recruitment of the 60 patients in Phase 2a study for Tesomet in type 2 diabetes completed.
- Distribution of all Saniona's shares in Initiator Pharma to Saniona's shareholders suggested to an extraordinary general meeting.
- Board member Anker Lundemose stepped down from the board of directors.
Significant events after the reporting period
- Distribution of all Saniona's shares held in Initiator Pharma to Saniona's shareholders decided at an extra ordinary general meeting.
- Saniona postponed list change to Nasdaq Stockholm following advanced ruling from the listing committee.
- Research milestone of about SEK 1.5 million obtained from The Michael J. Fox Foundation for Parkinson's Research.
- Saniona and Upsher Smith extended research collaboration under the drug discovery and development collaboration for neurological diseases, which the parties signed in the beginning of 2016. Saniona expects to report about SEK 7.5 million in revenues under this agreement in 2017.
- Saniona filed a clinical trial application in Czech Republic and Hungary for the performance of a Phase 2a study for Tesomet in patients with Prader-Willi Syndrome during the first half of 2017.
Comments from the CEO
"The significant agreement with Boehringer Ingelheim provides strategic flexibility and opportunities for investments in our own programs. Third quarter is closing with a substantial profit, which clearly shows the strength in our business model. We are focusing our investments on Tesomet, which is in phase 2 for type 2 diabetes. Our intention is to initiate an additional Phase 2 study for Prader-Willi Syndrome in a near future," 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
This information is information that Saniona (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on November 15, 2016.
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. The company has a significant portfolio of potential drug candidates at pre-clinical and clinical stage. The 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, Upsher-Smith Laboratories, Inc., Productos Medix, S.A de S.V and Saniona's Boston based spinout Ataxion Inc. Saniona is based in Copenhagen, Denmark, where it has a research center of high international standard. Saniona is listed at Nasdaq First North Premier and has about 4,600 shareholders. Pareto Securities is Certified Advisor for Saniona. The company's share is traded under the ticker SANION. Read more at www.saniona.com .
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