Nuevolution AB (publ) announces its quarterly results for the second quarter 2015/16

Stockholm, 4 February 2016. Nuevolution AB (publ) announces its interim report for the second quarter 2015/16. The report is available on the company’s home page (www.nuevolution.com). The following is taken from the quarterly report

Second quarter summary

  • In October 2015, Nuevolution entered into a multi-target collaboration with Janssen Biotech Inc., one of the pharmaceutical companies of Johnson & Johnson, and in November the company received the first upfront payment.
  • During second quarter 2015/16, three pre-clinical studies in Nuevolution’s RORγt inverse agonist program came out with positive results for its lead candidate. Furthermore, non-regulatory toxicity testing in mice and dogs showed that the lead candidate was well tolerated, and did not lead to any safety alerts.
  • In December, Nuevolution raised gross proceeds of SEK 250 million in connection with the listing of its shares at Nasdaq First North Premier.
  • Group revenues for the second quarter of 2015/16 amounted to SEK 11.2 million (7.0). First half: SEK 12.3 million (19.9).
  • In the second quarter of 2015/16, the group’s recorded an operating loss of SEK 27.9 million (-17.7) and a loss of SEK 13.1 million excluding IPO costs. First half: SEK -53.5 million (-24.4) and SEK -39.0 million excluding IPO costs.
  • The group’s net loss in the second quarter of 2015/16 was SEK 25.6 million (-14.0) and a loss SEK 10.8 million excluding IPO costs. First half: SEK -49.5 million (-17.9) and SEK -35.0 million excluding IPO costs.
  • Earnings per share (EPS) was SEK -0.81 for the second quarter of 2015/16 (-0.62) and SEK -0.34 excluding IPO costs. First half: SEK -1.64 (-0.80) and -1.16 excluding IPO costs.
  • Net cash at 31 December 2015 was SEK 258.4 million (SEK 15.5 million).
  • No significant events have occurred for Nuevolution AB (publ) since the end of the reporting period.

We are pleased with the progress made during the second quarter of 2015/16 in R&D, partner activities and financing in connection with the IPO. Nuevolution can now exercise its three-year business plan of realizing five or six business opportunities, and the company intends to enter into one or two out-licensing agreements and one or two risk-sharing agreements over the next 12-15 months”, CEO Alex Haahr Gouliaev states.

For more information, please contact:

Alex Haahr Gouliaev, CEO
Phone: +45 70 20 09 87
Email: AHG@nuevolution.com

About Nuevolution

Nuevolution AB (publ) is a leading small molecule drug discovery biotech company founded in 2001, and headquartered in Copenhagen, Denmark. Nuevolution partners its discovery platform and programs with pharmaceutical and biotechnology companies to seek future benefit of patients in need of novel medical treatment option. Nuevolution’s internal programs are focused on therapeutically important targets within inflammation, oncology and immuno-oncology.

Nuevolution AB (publ) is required to disclose the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was sent for publication on 4 February 2016, 18.00 (CET)

Nuevolution AB (publ) is listed at Nasdaq First North in Stockholm, Sweden (ticker: NUE). Västra Hamnen Corporate Finance AB acts as Certified Advisor to Nuevolution AB (publ). More information about Nuevolution can be found on: www.nuevolution.com.