STOCKHOLM, May 22, 2019 /PRNewswire/ -- Nuevolution AB
(publ) announces its report for the first quarter of 2019. The
report is available on the company's home page
(www.nuevolution.com). The following is taken from the quarterly
report.
Financial summary
|
January -
March
|
SEK
million
|
2019
|
2018
|
Revenue from
contracts with customers
|
14.1
|
8.3
|
Total operating
expenses
|
-27.2
|
-31.3
|
Operating
result
|
-13.0
|
-22.8
|
Net
result
|
-12.0
|
-21.3
|
Basic and diluted
earnings per share (SEK)
|
-0.24
|
-0.50
|
Cash flow from
operating activities
|
-24.6
|
-25.6
|
Cash and cash
equivalents
|
86.2
|
90.8
|
Business and R&D summary
- Key preclinical milestone achieved in Nuevolution-Almirall
collaboration following successful completion of significant
preclinical research studies. Following multiple positive reviews,
the Almirall partnered RORγt program continues towards clinical
testing showing "best-in-class" potential
- The two cancer programs with Amgen Opt-In continues to progress
positively
- Nuevolution BET-BD1 inhibitor candidate, NUE20798, exhibits
potent effect on both disease - and biomarker levels in atopic
dermatitis mouse model
- NUE20798 show encouraging in vivo safety following 11 days of
oral dosing
- Highly potent Nuevolution IL-17A blockers with antibody-like
binding properties now in testing in human skin explant model of
psoriasis
- We are committed to deliver on our "selective" deal approach
and to execute on valuable long-term collaborations. Partnering
discussions are ongoing as we have communicated previously
"During the quarter, our partnerships with Almirall have
progressed very well leading to the achievement of a key milestone
in the collaboration. In Q1/19, we also nominated the drug
development candidate in the bromodomain BET BD1 selective
inhibitor program (fibrosis, atopic dermatitis, possibly
immunotherapy). With three programs at candidate stage and three
well-functioning partnerships, I am also pleased to see the
positive progress in our discussions for the next valuable
partnership.", said Alex Haahr
Gouliaev, CEO
Events occurred between 31 March and 22 May 2019
9 May 2019: Nuevolution's BET-BD1
selective inhibitor and candidate compound, NUE20798, shows
positive effect on disease scoring and biomarker levels in an
atopic dermatitis (eczema) mouse model
On Thursday, 23 May 2019 at
11:00 CET, the company's executive
management will host a conference call and webcast discussion of
the results and provide an update on the pipeline programs and
partnering activities. Access to the event can be obtained as
follows:
Please notice new time for conference call
LIVE access on Thursday 23 May at 11:00 CET
Telephone numbers:
SE: +46-85-05-58-352
DK: +45-7815-0108
UK: +44-33-3300-9030
US: +1-833-5268-380
Webcast will be available at www.nuevolution.com in the
Investors section and at www.financialhearings.com
REPLAY access
Webcast replay will be available at www.nuevolution.com in the
Investors section and at www.financialhearings.com
For more information, please contact:
Alex Haahr Gouliaev, CEO
Phone: +45 3913 0902
Email: ahg@nuevolution.com
Johnny Stilou, CFO
Phone: +45 8877 5973
Email: jost@nuevolution.com
Information about Nuevolution AB (publ)
Nuevolution AB (publ) is a leading small molecule drug discovery
biotech company founded in 2001, and headquartered in Copenhagen, Denmark. Nuevolution partners its
discovery platform and develops its programs alone and in
collaboration with pharmaceutical and biotechnology companies to
seek future benefit for patients in need of novel medical treatment
options. Nuevolution's internal programs are focused on
therapeutically important diseases targets within severe
inflammatory diseases and cancer.
The information was sent for publication, through the agency of
the contact persons set out above, on Wednesday 22 May 2019 at 07:00
CET.
Nuevolution AB (publ) is listed at Nasdaq in Stockholm, Sweden (ticker: NUE). More
information about Nuevolution can be found on: www.nuevolution.com
.
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SOURCE Nuevolution