Interim report for the period May - October 2016
December 02 2016 - 10:05AM
SECOND QUARTER August 1 – October 31, 2016
- Consolidated net sales amounted to TSEK 56 compared to TSEK 52
in the second quarter previous year
- Operating loss was TSEK 35,867 compared to a loss of TSEK
41,008 in the second quarter previous year
- Net loss after tax amounted to TSEK 41,343 compared to a loss
of TSEK 43,395 in the second quarter previous year
- Loss per share was SEK 0.39 compared to a loss of SEK 0.44 in
the second quarter previous year
- Comprehensive loss was TSEK 41,339 compared to a comprehensive
loss of TSEK 43,417 in the second quarter previous year
THE PERIOD May 1 – October 31, 2016
- Consolidated net sales amounted to TSEK 92 compared to TSEK 271
in the same period previous year
- Operating loss was TSEK 68,209 compared to a loss of TSEK
78,827 in the same period previous year
- Net loss after tax amounted to TSEK 78,264 compared to a loss
of TSEK 83,215 in the same period previous year
- Loss per share was SEK 0.73 compared to a loss of SEK 0.85 in
the same period previous year
- Comprehensive loss was TSEK 78,251 compared to a loss of TSEK
83,221 in the same period previous year
- Acquisition of promising cancer project from Karo Pharma
- MSEK 70 private placement completed
- The MSEK 94.4 loan from Nexttobe plus accrued interest as of
due date December 30, 2016 extended with improved terms
EVENTS AFTER CLOSING DAY
- Nexttobe has disposed its holding in Oasmia and Per Arwidsson
has stepped in as second largest owner
- An Extraordinary General Meeting was held on November 21, at
which o Anders Lönner was elected as new Chairman of
the Board and two members resigned, o a proposal for an
option program for Management and Board was adopted
- Fredrik Gynnerstedt began his employment as CFO on November
21
CEO COMMENTS:
Dear Shareholders,
In the end of the second quarter (August 1 – October 31) of the
fiscal year 2016/2017 and up to the publication of this report,
several important events have occured.
The Company acquired KB9520, a substance which has shown
promising results in pre-clinical models for a number of different
types of cancer, from Karo Pharma. KB9520 complements Oasmia’s
current product portfolio that includes several candidates based on
new and improved formulations of well-known pharmaceutical
compounds.
At an Extraordinary General Meeting on November 21st
Anders Lönner, Executive Chairman at Karo Pharma and, among other
things, previous Chief Executive Officer at Meda AB, was elected as
new Chairman of the Board in Oasmia.His experience in successfully
managing international pharmaceutical companies through periods of
immense growth will serve Oasmia well as we pursue
commercialization in key markets including the United States and
Europe.
We have also hired a new Chief Financial Officer, Fredrik
Gynnerstedt, who will strengthen our management team and overall
competence. Fredrik’s employment began on November 21.
The company has performed a private placement of shares valued
at SEK 70 million, designed to fund operating activities, enable
continued development of our products and product candidates based
on XR17 and align the Company with new long-term investors.
Furthermore, Nexttobe has extended its loan to the company with
substantially improved interest conditions, which, in combination
with the private placement, provides further financial
stability.
In order to make the organization more efficient the company
intends to implement a cost containment program.
As always, we thank you for your support and confidence. We
greatly appreciate your commitment to the Company as we soon begin
a new year with new opportunities.
Kind Regards, Mikael Asp
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/8944ed63-e4a9-4533-a381-1bec441aa13e
Mikael Asp, CEO
Phone: +46 18 50 54 40
E-mail: mikael.asp@oasmia.com
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