Active Biotech AB - Interim report January - September 2018
November 14 2018 - 3:30PM
Third quarter in
brief
-
Active Biotech provides update on laquinimod in
Huntington's disease
-
Active Biotech regains global rights to the
development and commercialization of laquinimod
-
Data from the LEGATO-HD study of laquinimod in
Huntington's disease presented at the EHDN meeting
Events after the end of the
period
-
New data from the LEGATO-HD study presented at
the HSG conference
-
Active Biotech has, from the bank that finances
the company's property in Lund, requested that the sales deadline
(by 31 December 2018) included in the loan agreement to be removed,
giving Active Biotech the possibility to implement the property
sales in a manner appropriate to the company and its shareholders
without time pressure. Active Biotech's objective is to divest the
property as soon as appropriate. If the desired feedback is not
received from the bank, the Board assesses that the stipulated
closing date for the sale of the property will not be met. Active
Biotech will not, without a sale coming into effect, have the
required funds to repay the outstanding loan to the bank. In view
of the fact that Active Biotech have had and still have the ability
to continuously perform its amortization and interest payment
obligations to the bank and that the bank is deemed to have full
coverage for its loan receivable in the real estate collateral held
by the bank (valuation obtained by the bank from an independent
property valuer, showing a surplus in relation to the outstanding
loan debt in the order of 75 MSEK), the Board assesses that
it is unlikely that the bank will contribute to create a
financial crisis situation for the company
Financial summary
SEK million |
Jul-Sep |
Jan-Sep |
Full-year |
|
2018 |
2017 |
2018 |
2017 |
2017 |
|
|
|
|
|
|
Net
sales |
4.7 |
5.1 |
15.2 |
14.8 |
20.2 |
Operating
loss |
-6.9 |
-6.5 |
-22.8 |
-44.2 |
-102.5 |
Loss
after tax |
-8.7 |
-8.4 |
-28.0 |
-48.6 |
-108.8 |
Earnings
per share (SEK) |
-0.06 |
-0.07 |
-0.21 |
-0.40 |
-0.89 |
Cash and
cash equivalents (at close of period) |
|
|
36.0 |
35.6 |
25.2 |
For further
information, please contact:
Helén Tuvesson,
CEO
Tel: +46 (0)46 19 21 56
Hans Kolam, CFO
Tel: +46 (0)46 19 20 44
|
Active
Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Tel: +46 (0)46 19 20 00
|
The report is also available at
www.activebiotech.com/en/.
Active Biotech is obligated to make public the
information contained in this report pursuant to the EU Market
Abuse Regulation. This information was provided to the media,
through the agency of the contact persons set out above, for
publication on November 14, 2018 at 21.30 p.m. CET.
Active Biotech AB - Interim report
January - September 2018
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Active Biotech via Globenewswire
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