Saniona publishes its interim report for the third quarter of 2022
| Three Months Ended September 30, 2022 (2021) | Nine Months Ended September 30, 2022 (2021) |
| Revenue was SEK 2.4 M (2.3 M) | Revenue was SEK 12.0 M (7.6 M) |
| Operating profit/loss was SEK 21.8 M (-88.2 M) Net profit/loss was SEK 17.5 M (-93.7 M) | Operating profit/loss was SEK -203.1 M (-286.7 M) Net profit/loss was SEK -204.4 M (-281.8 M) |
| Basic earnings/loss per share was SEK 0.28 (-1.50) | Basic earnings/loss per share was SEK -3.28 (-4.52) |
| Diluted earnings/loss per share were SEK 0.28 (-1.50) | Diluted earnings/loss per share were SEK -3.28 (-4.52) |
Business highlights in Q3 2022
- On August 16, Saniona progressed its Kv7 ion channel epilepsy program into lead optimization phase, the last drug discovery phase before potential drug candidate selection.
- On September 30, Saniona extended its runway and amended the loan agreement with Formue Nord. The loan was extended with 7 months and the maturing date of the loan has been changed from June 30, 2023, to January 31, 2024.
Significant events after the reporting period
- On November 3, Saniona announced that SAN903 is ready to start the regulatory process for entering Phase 1 clinical trials.
Comments from the CEO
“We continue to make progress on our partnering efforts and development of our pipeline in Q3 while we have reduced costs and extended runway until 2024 without having to raise additional financing. Saniona has a broad pipeline of products, a highly motivated and professional team and significant experience with partnering. I am confident that our business development efforts will help us through this difficult period for listed biotech companies and that our pipeline will deliver new valuable breakthrough medicine.”
For more information, please contact
Thomas Feldthus, CEO, +45 22109957; thomas.feldthus@saniona.com
This information is such information as Saniona AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 CET on 17 November 2022.
About Saniona
Saniona is a clinical-stage biopharmaceutical company focused on the discovery and development of medicines modulating ion channels. The company’s most advanced product candidate, Tesomet™, has been progressed to mid-stage clinical trials for rare eating disorders. Through its ion channel expertise, Saniona is advancing two product candidates, SAN711 and SAN903. SAN711 has successfully completed a Phase 1 clinical trial for the treatment of neuropathic pain conditions. SAN903 is ready for Phase 1 clinical studies for the treatment of inflammatory and fibrotic disorders. The company has research and development partnerships with Boehringer Ingelheim GmbH, Productos Medix, S.A de S.V and Cephagenix ApS. Saniona is based in Copenhagen, Denmark, and listed on Nasdaq Stockholm Small Cap (OMX: SANION). Read more at www.saniona.com.
Attachment
