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Wednesday, 15 November 2017

Saniona AB: Saniona publishes its interim report for the third quarter 2017

Saniona AB    

Published: 08:00 CET 15-11-2017 /GlobeNewswire /Source: Saniona AB / : SANION /ISIN: SE0005794617

Saniona AB: Saniona publishes its interim report for the third quarter 2017

PRESS RELEASE

November 15, 2017

Financial highlights

Jan - Sep 2017 (Jan - Sep 2016)

·         Net revenues were SEK 16.1 M (69.5 M)

·         EBIT was SEK -40.6 M (19.2 M)

·         Earnings per share were SEK -1.58 (0.70)

·         Diluted earnings per share were SEK -1.58 (0.70)

 

Q3 2017 (Q3 2016)

·         Net revenues were SEK 4.2 M (50.6 M)

·         EBIT was SEK -15.1 M (33.7 M)

·         Earnings per share were SEK -0.61 (1.32)

·         Diluted earnings per share were SEK -0.61 (1.31)

 

Business highlights in Q3 2017

·         Saniona buys out future payment obligation to NeuroSearch

·         Saniona's partner, Cadent Therapeutics, nominates clinical candidate and initiates preclinical development in joint Ataxia program

·         Saniona's partner, Medix, initiates Phase 3 study for tesofensine in obesity

·         Saniona presents Tesomet Phase 2 data at the European Association for the Study of Diabetes congress 2017 in Lisbon, Portugal

·         Saniona reports encouraging start for tesofensine Phase 3 study with the recruitment of 150 out the planned 372 patients in the study during the first six weeks

 

Significant events after the reporting period

·         Saniona receives third and final milestone payment under the USD 590,700 (about SEK 5.2 million) grant from the Michael J. Fox Foundation for Parkinson's Research

·         Saniona partner and spin-out company Cadent Therapeutics (former Luc Therapeutics) receives milestone from Novartis.

·         Saniona decides to perform interim analysis of the Phase 2a study for Tesomet in adult patients with Prader-Willi syndrome.

 

Comments from the CEO         

"In the third quarter 2017, Saniona made great strides towards achieving a stable royalty income from our partnership with Medix, who is running our Phase 3 study for tesofensine in obesity. We are at the same time diligently advancing our lead program, Tesomet, in both metabolic diseases and eating disorders," 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 such information as Saniona AB (publ) is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out on the front page above, at 08:00 CET on November 15, 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 preclinical 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 Cadent Therapeutics Inc. Saniona is based in Copenhagen, Denmark, where it has a research center of high international standard. Saniona is listed at Nasdaq Stockholm Small Cap and has about 5,300 shareholders. The company's share is traded under the ticker SANION. Read more at www.saniona.com.



20171115 - Saniona Q3 Report 2017 - UK



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Saniona AB, Baltorpvej 154, Ballerup 2750, Denmark
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