Interim report 2017-01-01 to 2017-06-30
August 30, 2017 09:39 (CEST)
Summary of interim report
- Operating revenue KSEK 0 (0)
- Income after financial items KSEK -4 075 (-1 626)
- Earnings per share -0,27 (-0,13) SEK
- Cash and cash equivalents, KSEK 28 114 (24 636) as of 2017-06-30
- Equity ratio 95,2 (87,9) % as of 2017-06-30
- Operating revenue KSEK 0 (0)
- Income after financial items KSEK -2 588 (-1 157)
- Earnings per share SEK -0,17 (-0,09)
Significant events during the second quarter of 2017
- Cyxone signed an agreement pertaining to the exclusive rights to acquire the clinical candidate drug Rabeximod from OxyPharma AB.
- Cyxone AB and the University of Queensland in Australia entered into a co-operation agreement to further characterize the effects of Cyxone's T20K in treating MS.
- Cyxone entered a long-term strategic co-operation agreement with Sourcia, a clinical contract research organization (CRO) with offices in Belgium, Germany, and the Netherlands.
- A collaboration agreement has been made with Bachem AG in Switzerland to improve the synthesis of T20 and produce drug for non-clinical and clinical studies.
Significant events after the end of the period
- No significant events after the end of the period
CEO Kjell Stenberg comments
Cyxone's focus has been on planning and preparation for the efficacy and safety studies required to obtain approval for clinical studies with T20K.
Through the agreement with Bachem, a leading Swiss manufacturer of peptide drugs, we are confident to obtain high-quality drug for clinical trials according to our timeline.
In co-operation with the University of Queensland in 2017 Cyxone will perform a series of studies in the mouse-MS model to demonstrate T20K's potential to prevent development of MS symptoms.
Toxicity studies are conducted in co-operation with the leading safety company LPT Technologies in Germany to establish a safe and innovative dosing of T20K.
In line with Cyxone's plans to initiate a second project in the autoimmune area the company agreed with OxyPharma to acquire Rabeximod for rheumatoid arthritis. Cyxone plans to conduct a phase IIb study in patients starting in 2018. To support the new clinical program starting in 2018 Cyxone enjoys constructive discussions with its investor network.
Follow our news and information about our presence at investor meetings via First North, and the company's webpage: www.Cyxone.com
CEO, Cyxone AB
Upcoming financial reports
2017-10-25 Interim report Q3
2018-02-16 Year-end report
Malmo August 30, 2017
Board of Directors
Cyxone AB (publ)
Kjell G. Stenberg, CEO
211 22 Malmö
This year-end report is such information Cyxone AB is obligated to publish under the EU Market Abuse Regulation and Securities Markets Act. The information was released by CEO Kjell Stenberg for publication August 30, 2017 at. 08:50 CET.
This report contains forward-looking statements, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their nature, as well as research and development work in the biotech segment, associated with risk and uncertainty. The actual outcome may deviate significantly from the scenarios described in this press release. The full report (PDF)