Nanexa publishes year-end report for 2022
Agreement and directed issue to Novo Nordisk, solution to patent infringement lawsuit and phase 1 study with NEX-20 started
Significant events during the fourth quarter 2022
- During the quarter, Nanexa signed an exclusivity and evaluation agreement, a so-called Material Transfer and Feasibility Study Agreement with leading global pharmaceutical company Novo Nordisk A/S (”Novo Nordisk”) for the evaluation of Nanexa’s drug delivery system PharmaShell® with Novo Nordisk products within a certain substance class. As part of the agreement, Nanexa receives payments of approximately SEK 46.1 million for providing Novo Nordisk a time-limited exclusivity and work performed during the evaluation period. In connection with the agreement, a directed issue of shares to Novo Nordisk was also carried out, which brought SEK 17.2 million before issue costs to Nanexa and made Novo Nordisk the largest shareholder, with 16.5 percent of the shares and votes in the company.
- Nanexa started, according to plan, the Phase 1 study with NEX-20, a long-acting formulation of lenalidomide for treatment of multiple myeloma. The study is carried out in healthy volunteers with the aim to study the pharmacokinetic profile, safety and tolerability of the drug.
- Nanexa AB and VitriVax, Inc. jointly announce that they have resolved the patent infringement lawsuit filed by Nanexa AB against VitriVax, Inc. in the United States District Court for the District of Delaware.
- Nanexa signed a Material Transfer and Feasibility Study Agreement with a Speciality Pharma company, for evaluation of the PharmaShell drug delivery system making a depot formulation of specific compounds for intravitreal delivery.
- During the quarter, a Nomination Committee was appointed in Nanexa AB (publ) for the Annual General Meeting 2023, in accordance with the principles adopted by Nanexa’s Annual General Meeting on 9 June 2022, consisting of Philip Norin, Hanno Lindroth (appointed by Mårten Rooth), Christian Östberg (appointed by Anders Johansson) and Göran Ando (Chairman of the Board, adjunct).
Significant events after the end of the period
- No significant events after the end of the period
Summary of the reporting period 1 October – 31 December 2022
- Turnover amounted to: TSEK 819 (670)
- Operating profit (EBIT) amounted to: TSEK -17,869 (-13,045)
- Profit after tax amounted to: TSEK: -17,932 (-13,087)
- Earnings per share amounted to: SEK -0.35 (-0.26)
- Cash flow for the period amounted to: TSEK 35,574 (-14,139)
- Cash and cash equivalents at end of period: TSEK 81,182 (105,660)
Summary of the reporting period 1 January – 31 December 2022
- Turnover amounted to: TSEK 2,860 (2,374)
- Operating profit (EBIT) amounted to: TSEK -57,981 (-35,821)
- Profit after tax amounted to: TSEK -58,571 (-35,999)
- Earnings per share amounted to: SEK -1.16 (-1.01)
- Cash flow for the period amounted to: TSEK -24,478 (92,969)
- Cash and cash equivalents at end of period: TSEK 81,182 (105,660)
- The Board of Directors proposes that no dividend is paid for the fiscal year 2022.
Figures in brackets refer to the corresponding period in the previous year.
The entire report is available on the company’s website: https://nanexa.com/en/financial-reports/.
Report comment, 16 February at 2:00 p.m. CET
A live commentary with CEO David Westberg will take place on February 16 at 2:00 p.m. via Infront Direct Studios and viewers will have the opportunity to ask questions via chat.
The webcast is held in Swedish and can be viewed via this link.
The report comment will also be published on Nanexa's website afterwards.
