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.