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NeuroVive Pharmaceutical AB Interim Report January - March 2017

2017-05-18 15:18
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STOCKHOLM, May 18, 2017 /PRNewswire/ --

Broadened project portfolio

Business operations

Significant events January-March 2017

  • Strong inhibitory effects demonstrated in human hepatocellular carcinoma cells and in an experimental model of liver cancer with the Company's new generation of sanglifehrin-based compounds in the NVP024 project.
  • The business operations of the Taiwanese subsidiary were sold to the Taiwanese shareholders in order to reallocate research resources to the Parent Company.
  • Collaboration agreement signed with a prestigious US research team in mitochondrial medicine for the NVP015 project focused on mitochondrial genetic disorders.
  • The mitochondrial myopathy indication -- new project added to the portfolio, NVP025. Collaboration agreement was signed with Karolinska University Hospital.

Important events after the end of the period

  • The anti-fibrotic effects of NV556 in NASH were confirmed in an additional experimental model. The preclinical results were presented at the International Liver Congress™.
  • A clinical development project for genetic mitochondrial disorders was in-licensed from Yungjin Pharm Corporation Ltd.

Financial information

First quarter (January-March 2017)

  • Net revenues were SEK 27,000 (0) and other operating income was SEK 63,000 (46,000)
  • Loss before tax was SEK 21,390,000 (loss: 10,916,000)
  • Loss per share* was SEK 0.40 (loss: 0.35)
  • Diluted loss per share** amounted to SEK 0.40 (loss: 0.35)

* Profit/loss for the period divided by average number of shares before dilution at the end of the period.
** Profit/loss for the period divided by average number of shares after dilution at the end of the period.

Please find the complete interim report attached below.

This information is information that NeuroVive Pharmaceuticals (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 08:30 a.m. CET on 18 May 2017.

About NeuroVive

NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine. The company is committed to the discovery and development of medicines that preserve mitochondrial integrity and function in areas of unmet medical need. The company's strategy is to advance drugs for rare diseases through clinical development and into the market. The strategy for projects within larger indications outside the core focus area is out-licensing in the preclinical phase. NeuroVive enhances the value of its projects in an organization that includes strong international partnerships and a network of mitochondrial research institutions, as well as expertise with capacities within drug development and production.

NeuroVive has a project in early clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT®) and one project entering clinical Phase I (KL1333). NeuroSTAT has orphan drug designation in Europe and in the US. The R&D portfolio consists of several late stage research programs in areas ranging from genetic mitochondrial disorders to cancer and metabolic diseases such as NASH.

NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF).

NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Phone: 046-275-62-20 (switchboard)
ir@neurovive.com
www.neurovive.com

This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/neurovive-pharmaceutical/r/neurovive-pharmaceutical-ab-interim-report-january---march-2017,c2267943

The following files are available for download:

http://mb.cision.com/Main/6574/2267943/675983.pdf

NeuroVive Pharmaceutical AB Interim report January - March 2017

Source: NeuroVive Pharmaceutical

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