Karo Bio Announces 2013 Interim Report

mia.burns

JANUARY-SEPTEMBER

The January–September period and the third quarter 2013 in brief

  • Net sales amounted to MSEK 37.4 (24.6), whereof the third quarter amounted to MSEK 21.2 (8.1)
  • Net loss for the group was reduced to MSEK 18.7 (89.3), with a profit for the third quarter of MSEK 6.5 (-12.6)
  • Loss per share was SEK 0.04 (0.23), with a third quarter earnings per share of SEK 0.01 (-0.03)
  • Cash flow from operating activities was MSEK -25.5 (-107.7), whereof the third quarter MSEK -1.4 (-25.1)
  • Cash and cash equivalents and other short-term investments totaled
    MSEK 32.1 (50.0) at the end of the period
  • Milestone of MUSD 2.0 reached in RORgamma project with Pfizer
  • Funding of MUSD 0.5 for ERbeta MS granted by US National MS Society in September
  • Collaboration on fibrosis initiated with 4D Science and Dr Jörg Distler
         

Conference call / audiocast today at 9.30 a.m. CET
CEO Per Bengtsson will present the report today at 9.30 a.m. in an audiocast, held in Swedish. The audiocast and slides are available through the corporate website http://www.karobio.se/ or by telephone +468 505 564 82. Questions may be submitted over the internet or orally by telephone.
     

PROFIT IN THE QUARTER
For the third quarter 2013, Bio reports a profit, something that has not happened more than once or twice in the company’s history. The quarter was successful for us in several aspects. Following Pfizer’s exten­sion of the collaboration on RORgamma in early summer, we reached a milestone in the project in September that provided Bio new revenue, as is clearly reflected in the period’s positive results. More evident proof that the project is progressing well is not to be had. The team has already moved on to the next stage in the preclinical…Read more

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