STOCKHOLM, SWEDEN / ACCESS Newswire / February 27, 2025 / AlzeCure Pharma (STO:ALZCUR)(FRA:AC6) AlzeCure Pharma AB (publ) (FN STO:ALZCUR) today announced that its Year-end report for the period January - December 2024 is now available on the company's website: www.alzecurepharma.com/en/section/investors/financial-reports/
"The fourth quarter of 2024 was yet another positive and eventful quarter for AlzeCure Pharma. During the quarter, we published and presented new positive preclinical findings from our clinical Alzheimer's project NeuroRestore, which we are preparing for Phase II clinical studies. Furthermore, in our second Alzheimer's project, Alzstatin, we opted to advance our latest molecule, ACD680, and prepare it for clinical trials. We also published new data from our pain project targeting knee osteoarthritis, TrkA-NAM. In preclinical models, we have shown that the analgesic effects of the candidate drug ACD137 are at least on par with the antibody Tanuzemab, while also exhibiting potential protective effects. These results are highly promising and we are very pleased with them.
In February 2025 we were also awarded a €2.5 million grant from the European Innovation Council (EIC) Accelerator under the Horizon Europe program, with the potential to receive additional financing through the EIC Fund, subject to further due diligence and conditions being met. We are very proud and honored to receive this prestigious funding from the EIC Accelerator, which is both a significant financial contribution to the company and a recognition of the groundbreaking potential of ACD856. This grant will accelerate our clinical development and brings us closer to delivering a transformative therapy for Alzheimer's patients."
Martin Jönsson, CEO
Financial information for October - December, 2024 Figures in parentheses refer to the corresponding period of the previous year.
Net sales during the period totaled SEK 0 thousand (0).
Loss for the period totaled SEK -9,330 thousand (-9,756).
Earnings per share, basic, totaled SEK -0.11 (-0.16).
Cash flow from operating activities totaled SEK -7,565 thousand (-8,361).
Total assets at the end of the period amounted to SEK 34,435 thousand (32,001).
Cash and cash equivalents at the end of the period totaled SEK 31,498 thousand (29,100).
Financial information for January - December, 2024 Figures in parentheses refer to the corresponding period of the previous year.
Net sales during the period totaled SEK 0 thousand (0).
Loss for the period totaled SEK -35,234 thousand (-37,167).
Earnings per share, basic, totaled SEK -0.46 (-0.60).
Cash flow from operating activities totaled SEK -35,123 thousand (3,057).
Total assets at the end of the period amounted to SEK 34,435 thousand (32,001).
Cash and cash equivalents at the end of the period totaled SEK 31,498 thousand (29,100).
No dividend is proposed.
Significant events during the period October - December, 2024
On October 28, the company presents new positive data in the TrkA-NAM pain project for osteoarthritis.
On October 30, the company presents new anti-inflammatory data concerning NeuroRestore ACD856 at the Clinical Trials on Alzheimer's Disease conference (CTAD).
Significant events during the period January - September, 2024
On January 29, the company selects a drug candidate and enters the next phase of development with TrkA-NAM ACD137 for the treatment of osteoarthritis and other severe pain conditions.
On February 29, the company announces that the patent offices in China, India, South Africa, Israel, Hong Kong and Mexico have granted patents covering the company's clinical drug candidate ACD856, which is being developed for Alzheimer's and other cognitive impairment disorders.
On March 26, the company's Board of Directors resolved on a new issue of shares of approximately SEK 52.8 million with preferential rights for existing shareholders. The Rights Issue is subject to approval by the Extraordinary General Meeting on April 25, 2024. The issue is guaranteed to approximately 63 percent through subscription commitments and guarantee commitments from existing owners and members of the company's management and Board of Directors, among others. To enable further capital injections, the Board of Directors may also exercise an overallotment option of up to approximately SEK 15.0 million.
On March 26, the company announces that an Extraordinary General Meeting will convene on April 25, 2024.
On April 10, the company announces that its Annual General Meeting will convene on May 14, 2024.
On April 10, the company announces that Dr. Jan Lundberg, former head of research at Eli Lilly and AstraZeneca, is investing in AlzeCure and proposes that he will be elected to serve on the company's Board of Directors.
In April, the company receives new preclinical data for NeuroRestore in inflammation, with relevance to Alzheimer's disease, and submits a new patent application for NeuroRestore ACD856.
Jan Lundberg is elected to serve on the Board of Directors at the Annual General Meeting on May 14.
On May 20, the company announces the final outcome of the rights issue with preferential rights for shareholders (the "Rights Issue") that ended on May 17, 2024. The issue raises approximately SEK 39.2 million for AlzeCure before issue expenses.
In June, the company publishes a scientific article on the clinical Phase Ib results for ACD440 supporting the continued development of the lead drug candidate in the Painless platform in the European Journal of Pain.
On June 14, the company's Board of Directors resolves on a directed share issue of 965,727 shares to Formue Nord Markedsneutral A/S ("Formue Nord"), which has chosen to receive its agreed compensation as guarantor in shares.
In July, the company carries out a directed share issue as a follow-up to a previously given subscription commitment and raises SEK 3.7 million.
In July, the company publishes a new scientific article related to NeuroRestore ACD856 for the treatment of Alzheimer's and cognitive disorders.
In August, the company presents new preclinical data for the lead drug candidate ACD137 (TrkA-NAM) at the international pain conference IASP in Amsterdam.
Significant events after the end of the period
The company announces February 17, 2025, that they receive an EU grant for a Phase II clinical trial of NeuroRestore ACD856 for Alzheimer's disease.
AlzeCure® is a Swedish pharmaceutical company that develops new innovative drug therapies for the treatment of severe diseases and conditions that affect the central nervous system, such as Alzheimer's disease and pain - indications for which currently available treatment is very limited. The company is listed on Nasdaq First North Premier Growth Market and is developing several parallel drug candidates based on three research platforms: NeuroRestore®, Alzstatin® and Painless.
NeuroRestore consists of two symptomatic drug candidates where the unique mechanism of action allows for multiple indications, including Alzheimer's disease, as well as cognitive disorders associated with traumatic brain injury, sleep apnea and Parkinson's disease and is being prepared for phase 2. The Alzstatin platform focuses on developing disease-modifying and preventive drug candidates for early treatment of Alzheimer's disease and comprises two drug candidates. Painless is the company's research platform in the field of pain and contains two projects: ACD440, which is a drug candidate in the clinical development phase for the treatment of neuropathic pain with positive phase 2 results, and TrkA-NAM, which targets severe pain in conditions such as osteoarthritis. AlzeCure aims to pursue its own projects through preclinical research and development through an early clinical phase, and is continually working on business development to find suitable outlicensing solutions with other pharmaceutical companies.
FNCA Sweden AB is the company's Certified Adviser. For more information, please visit www.alzecurepharma.se.
