NeuroVive: Year-End Report 1 Jan. 2013 till 31 Dec. 2013
NeuroVive consolidates positioning as leading mitochondrial medicine company
Twelve months (1 Jan. 2013 – 31 Dec. 2013)
- Net revenues were SEK 5,335,000 (0) and other operating income was SEK 1,598,000 (1,328,000).
- Loss before tax was SEK -22,126,000 (-15,903,000).
- Earnings per share* were SEK -1.17 (-0.85).
- Diluted earnings per share** were SEK -1.17 (-0.85).
Fourth quarter (1 Oct. 2013 – 31 Dec. 2013)
- Net revenues were SEK 0 (0) and other operating income was SEK 12 (808,000).
- Loss before tax was SEK -9,169,000 (-5,148,000).
- Earnings per share* were SEK -0.45 (-0.25).
- Diluted earnings per share** were SEK-0.45 (-0.25).
* Profit/loss for the period divided by the average number of shares before dilution at the end of the period.
**Profit/loss for the period divided by the average number of shares after dilution at the end of the period.
Business highlights 2013
First Quarter
- In March, NeuroVive acquired a portfolio of new cyclophilin inhibitors and the associated intellectual property from UK biotech enterprise Biotica Ltd.
- On 22 March, NeuroVive reported that over 600 patients had been enrolled in the clinical phase III multi-center trial (CIRCUS), which is evaluating the effects of CicloMulsion® on treating reperfusion injury after stenting coincident with myocardial infarction.
Second Quarter
- 10th of April, NeuroVive had its IPO on NASDAQ OMX Small Cap, with stock symbol NVP.
- Patient 700 of totally 972 has been enrolled to its multinational phase III trial on the company’s pharmaceutical CicloMulsion® (CIRCUS trial) or treating reperfusion injury in myocardial infarction.
- First patient has been enrolled to a clinical phase IIa trial on the company’s pharmaceutical NeuroSTAT® for treating traumatic brain damage. This trial covers a total of 20 patients and is being conducted at the neurology clinic of the Danish National Hospital in Copenhagen.
- In June, NeuroVive signed a collaboration agreement with Isomerase Therapeutics to develop the molecules the company acquired from Biotica Ltd. in March 2013. The focus of this partnership is cell protection in traumatic brain damage, heart attack and in the new product segment of anti-viral indications in the form of a new product designated NVP018/BC556.
- NeuroVive’s subsidiary NeuroVive Pharmaceutical Asia Ltd. received SEK 5.3 m(RMB 5 m) as a first milestone payment from NeuroVive’s collaboration partner in China, Sihuan Pharmaceutical.
Third Quarter
- Over 800 of the 972 patients have been enrolled in the multinational phase III trial on the company’s pharmaceutical CicloMulsion® (CIRCUS trial) to treat reperfusion injury coincident with myocardial infarction.
- With its collaboration partner Sihuan, NeuroVive participated in the 18th Army Neurosurgery Annual Conference in Beijing, China.
Fourth Quarter
- Over 900 of the 972 patients have been enrolled in the multinational phase III trial on the company’s pharmaceuticals CicloMulsion® (CIRCUS trial) to treat reperfusion injury coincident with myocardial infarction.
- Catharina Jz Johansson appointed as new CFO and takes up position on 1 December 2013.
- EGM resolves on private placement and rights issue totaling approximately SEK 111 m, plus a SEK 10 m overallocation option.
- NeuroVive completes a SEK 35 m private placement in December.
Post balance sheet events
- Extended partnership agreement with InVentiv Health to prepare for upcoming market launch CicloMulsion®
- On 31 January, NeuroVive announces its rights issue is 270% oversubscribed. The Board of Directors announces its decision to fully exercise its overallocation option at the same time. The rights issue raises approximately SEK 75.8 m for NeuroVive and the overallocation option adds a further SEK 10.0 m. This means that NeuroVive raises a total of approximately SEK 85.8 m before issue expenses.
- NeuroVive treats final patient in European phase III trial on CicloMulsion®
Read the Year-End Report attached below
NeuroVive Pharmaceutical AB (publ) is obligated to publish the information contained in this news release in accordance with the Swedish Securities Market Act. This information was provided to the media for publication at 08:30 CEST on 19 January 2014.
