PRESS RELEASE
11 May 2017
Financial highlights
Q1 2017 (Q1 2016)
· Net revenues were SEK 7.5 M (15.9 M) · EBIT was SEK -7.6 M (-1.1 M) · Earnings per share were SEK -0.31 (-0.12) · Diluted earnings per share were SEK -0.31 (-0.12)
Business highlights in Q1 2017
· Saniona reports positive top line results from the Tesomet Phase 2a study in type 2 diabetes · Saniona announces a merger of its spinout company Ataxion Inc. with Luc Therapeutics · Saniona announces that it expects to initiate the planed Phase 2a study for Tesomet in Prader-Willi syndrome in Q2 2017
Significant events after the reporting period
· Saniona initiates Phase 2a study for Tesomet in Prader-Willi syndrome · Saniona's partner, Medix, obtains regulatory approval to initiate a Phase 3 study for tesofensine in obesity · Saniona obtains research milestone from The Michael J. Fox Foundation for Parkinson's Research · Saniona's renames the Upsher-Smith program to Proximagen program · Saniona participates in formation of Scandion Oncology and spins out clinical program and related ion channel platform
Comments from the CEO
"Three days into the new year, we could publish that our Phase 2 trial with Saniona's most important project - Tesomet - was successful. Since then we have continued the high pace. Our partner Medix has obtained approval to initiate a Phase 3 study with tesofensine, the active weight loss substance that is also the main component of Tesomet. We are now seeing the potential outlines of a stable cash flow from a product on the market, which is so far the most important step in Saniona's short history," 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 in this interim report is information that Saniona (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and Sweden's Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 11 May 2017.
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, Proximagen Ltd., Productos Medix, S.A de S.V and Luc Therapeutics 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 5,000 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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