2019-11-21

Correction: Lipidor AB (publ) publishes interim report for Q3 2019

The correction relates to the non-attached interim report for Q3 in the press release and the incorrect link to the interim report for Q3 on Lipidor's website. In this correction, the interim report is attached and the link is corrected.

Statement from Lipidor’s CEO



Lipidor is experiencing considerable interest from both investors and the pharma industry, and in many meetings during the quarter, I have continually received confirmation that Lipidor is on the right track in our ambition to create patient benefit and shareholder value.



One important area is the ongoing phase III study of our spray-based psoriasis drug where we have reformulated a proven drug substance. The progress of the study has gone according to plan and after the end of the quarter we were able to report that the last patient had completed treatment. For Lipidor as a company, it is an important milestone to have taken a drug through all phases and I am both proud and grateful for the effort that our team of employees, consultants and partners have carried out. Of course, we all keenly await the results we expect to present in December, as previously communicated.



Work on our other product portfolio is also moving forward and we have detailed the clinical strategies for our development program during the quarter. An important milestone was our meeting with the Swedish Medical Products Agency (MPA) in September. The MPA is positive about the possibility of taking AKP02 directly to a phase III study if the results of the ongoing AKP01 study are positive. We have also continued a strategic review of upcoming patent expirations of best-selling dermatology products where we believe that Lipidor could play a role, either with improved products or by supporting the market leader with product development.



Our subsidiary Emollivet completed the first test production of our animal skincare series at the end of September. With this, operational activities of the company began and we have a number of parties who are currently evaluating the products.



At the end of the third quarter, Lipidor completed a successful capitalization with subsequent listing. The capital gives us the opportunity to deliver at a continued high rate and we look forward to another intensive period of study reporting and business development.



Stockholm, 21 November 2019 



Ola Holmlund, CEO



 



Selected financial data






































































































  2019 Jul-Sep  2018 Jul-Sep  2019 Jan-Sep  2018 Jan-Sep  2018 Jan-Dec
Net sales, tkr (thousand kronor) 72 0 72 243 243
Operating income, tkr -3 831  -1 420  -9 370  -4 405 -7 634
Income after tax, tkr -3 831 -1 420 -9 371 -4 408  -7 637
Total assets, tkr 33 995 3 505 33 995 3 505  18 185 
Cash flow for the period, tkr 19 602 -1 196 31 341 2 504 616
Cash flow per share (SEK) 0.99 -0.08 1.64 0.17 0.04
Cash, tkr 32 515 3 062 32 515 3 062 1 174
Result per share prior to dilution (SEK) -0.19 -0.09 -0.49 -0.29 -0.51
Result per share after dilution (SEK) -0.19 -0.09 -0.49 -0.29 -0.51
Shareholders equity per share (SEK) 1.34 0.16 1.34 0.16 0.96
Equity ratio, % 92.88% 69.44% 92.88% 69.44% 79.46%


Significant events during the third quarter (Jul-Sep)




  • The company's shares were listed on Nasdaq First North on 27 September 

  • The new share issue brought in approximately SEK 25.2 million before issue costs

  • During the third quarter, treatment started for the last patient in the company's ongoing clinical phase III study

  • The subsidiary Emollivet AB commenced operational activities



Significant events during the reporting period (Jan-Sep) 




  • During December 2018 and January 2019, the company carried out a new share issue totaling SEK 20.0 million

  • In June 2019, Lipidor formed the subsidiary Emollivet AB for commercialization of veterinary products 



Significant events after the reporting period




  • At the beginning of November, the last patient completed treatment in the company's ongoing phase III study.

  • No other significant events have occurred after the reporting period.



Lipidor in brief



Lipidor AB, Org. Nr. 556779-7500 is a Swedish limited company based in Stockholm. The company address is: Lipidor AB, Fogdevreten 2, 175 21 Solna.



Lipidor is a drug development company with a pipeline of drug development projects in the preclinical and clinical phase. The company develops drugs for the treatment of skin diseases such as psoriasis, bacterial skin infections and atopic dermatitis.



See the interim report



Quarterly report Q3 2019 (Swedish)

Contact details



Lipidor AB (Org. Nr. 556779-7500)

CEO, Ola Holmlund

Telephone: +46 (0) 725-07 03 69

e-mail: ola.holmlund@lipidor.se

Fogdevreten 2 

171 25 Solna 



Certified advisor



Corpura Fondkommission AB

Telefon: +46 76 85 32 822

E-mail: ca@corpura.se

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