STOCKHOLM, SE / ACCESSWIRE / August 26, 2024 / AlzeCure Pharma (STO:ALZCUR) (FRA:AC6) AlzeCure Pharma AB (publ) (FN STO: ALZCUR) today announced that its interim report for the period January - June 2024 is now available on the company's website: www.alzecurepharma.com/en/section/investors/financial-reports/
"The second quarter of 2024 was once again an active and positive period for AlzeCure Pharma, during which we applied for a patent based on new data concerning the anti-inflammatory effects of our clinical drug candidate ACD856, which is part of our NeuroRestore Alzheimer's project. We also had new preclinical data from our TrkA-NAM project accepted for presentation at the world-leading IASP pain conference. Furthermore, we published new clinical data from the Phase Ib study for our TRPV1 antagonist ACD440, which we are developing for the treatment of neuropathic pain. We also conducted a rights issue, which raised SEK 39.2 million and was supported by our leading principal owners, with the aim of both funding the continued development of our drug candidates and strengthening the company's financial position. The Annual General Meeting elected Dr. Jan Lundberg to serve on the Board of Directors. He has previously served as the global head of research and development at Eli Lilly, as well as global head of research at AstraZeneca. Dr. Lundberg was also a guarantor and invested in the issue without requiring financial compensation, in line with the company's principal owners. It is both motivating and gratifying that the company is keeping up the pace as it continues to deliver new data that strengthen our position, supported financially both by the company's principal owners and its current shareholders, and that we have also added many new shareholders."
Martin Jönsson, CEO
Financial information for April - June, 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 -8,653 thousand (-10,211).
Earnings per share, basic, totaled SEK -0.12 (-0.16).
Cash flow from operating activities totaled SEK -9,178 thousand (-8,906).
Total assets at the end of the period amounted to SEK 47,257 thousand (48,119).
Cash and cash equivalents at the end of the period totaled SEK 43,916 thousand (45,232).
Financial information for January - June, 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 -18,457 thousand (-19,756).
Earnings per share, basic, totaled SEK -0.28 (-0.32).
Cash flow from operating activities totaled SEK -19,241 thousand (19,189).
Total assets at the end of the period amounted to SEK 47,257 thousand (48,119).
Cash and cash equivalents at the end of the period totaled SEK 43,916 thousand (45,232).
Significant events during the period April - June, 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 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.
Significant events during the period January - March, 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.
Significant events after the end of the period
In July, the company carries out a directed share issue infollow-up to a previously given subscription commitment and raises SEK 3.7 million.
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. 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, 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 .
