Saniona publishes its interim report for the second quarter of 2022
August 25 2022 - 2:00AM
Saniona publishes its interim report for the second quarter of 2022
|
Three Months Ended June 30, 2022 (2021) |
Six Months Ended June 30, 2022 (2021) |
|
Revenue was SEK 3.0 M (1.9 M) |
Revenue was SEK 9.6 M (5.3 M) |
|
Operating profit/loss was SEK -91.8 M (-103.6 M)Net profit/loss was
SEK -88.6 M (-103.9 M) |
Operating profit/loss was SEK -225.0 M (-197.7 M)Net profit/loss
was SEK -221.9 M (-187.3 M) |
|
Basic earnings/loss per share was SEK -1.42 (-1.67) |
Basic earnings/loss per share was SEK -3.56 (-3.00) |
|
Diluted earnings/loss per share were SEK -1.42 (-1.67) |
Diluted earnings/loss per share were SEK -3.56 (-3.00) |
Business highlights in
Q2 2022
- On April 30, Saniona appointed
Thomas Feldthus as Chief Executive Officer and Anita Milland as
Chief Financial Officer. Thomas Feldthus will oversee
Saniona’s refocused strategy on ion channel research and
development and explore partnering opportunities to advance its
lead assets. The Board of Directors elected Jørgen Drejer
as interim Chairman until the Annual General Meeting (AGM)
held on May 25, 2022, where he was elected as Chairman of the
Board. In connection with this refocused strategy, the company
terminated its plans to list its shares in the U.S., closed
its U.S. operations and terminated the positions of all U.S.
personnel, including the U.S. executive management team.
These restructuring actions are anticipated to reduce
future annual operating expenses by approximately
70-75%.
- On May 20, Saniona provided
update on ongoing review of tesofensine in
Mexico.
- On May 25, Jørgen Drejer, Anna Ljung
and Carl Johan Sundberg were at the annual general meeting
reelected to the board of directors with Jørgen Drejer as
Chairman.
- On June 24, Professor Helle Prætorius,
Univ. of Aarhus, Denmark, made a presentation at the ECM conference
demonstrating that SAN903 protects against fibrosis in a
chronic kidney disease model.
- On June 30, Saniona reported
positive top line results from the SAN711 Phase 1 Clinical
Trial demonstrating that SAN711 was safe and well
tolerated and that it is possible to obtain exposure levels
corresponding to expected desired therapeutic effect at a
well-tolerated dose.
Significant events after the reporting
period
- On July 6, Saniona CEO Thomas Feldthus
and board member Carl Johan Sundberg purchased Saniona shares in
the open market.
- On August 16, Saniona
progressed its Kv7 ion channel epilepsy program into lead
optimization phase, the last drug discovery phase before
potential drug candidate selection.
- On August 18, the Shareholders of
Saniona voted at an extraordinary general meeting in favor of an
Employees Option Program 2022 comprising a maximum of 2,129,821
options.
Comments from the
CEO “We are
experiencing significant interest across our pipeline programs,
which provides us with reasons to believe that future partnerships
will make us less dependent on the financial markets. Current cash
position is expected to fund planned activities until at least the
end of the second quarter of 2023.”For more information,
please contact Thomas Feldthus, CEO, +45 22109957;
thomas.feldthus@saniona.com
This information is such information as Saniona AB (publ) is
obliged to make public pursuant to the EU Market Abuse Regulation
and the Securities Markets Act. The information was submitted for
publication, through the agency of the contact person set out
above, at 8.00 CEST on 25 August 2022.About
Saniona Saniona is a clinical-stage biopharmaceutical
company with a mission to leverage its ion channel targeting
expertise to discover, develop and deliver innovative rare disease
treatments. The company’s most advanced product candidate,
Tesomet™, has been progressed into mid-stage clinical trials for
hypothalamic obesity and Prader-Willi syndrome, serious rare
disorders characterized by severe weight gain, disturbances of
metabolic functions and uncontrollable hunger. These clinical
trials are voluntarily paused due to funding limitations and
Saniona is actively exploring partnering opportunities. Saniona has
developed a proprietary ion channel drug discovery engine anchored
by IONBASE™, a database of more than 130,000 compounds, of which
more than 20,000 are Saniona’s proprietary ion channel modulators.
Through its ion channel expertise, Saniona is advancing two
wholly-owned ion channel modulators, SAN711 and SAN903. SAN711 has
successfully completed a Phase 1 clinical trial and is positioned
for the treatment of neuropathic pain conditions, and SAN903 is in
preclinical development for rare inflammatory, fibrotic and
hematological disorders. Saniona is based in the Copenhagen area,
Denmark, and is listed on Nasdaq Stockholm Small Cap (OMX: SANION).
Read more at www.saniona.com.
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