INTERIM REPORT JANUARY-SEPTEMBER 2011
The January-September period and the third quarter 2011 in brief
· Net sales amounted to MSEK 0.0 (0.0)
· Net loss was MSEK 176.0 (113.4), whereof the third quarter MSEK 51.1
(34.4)
· Loss per share was SEK 0.45 (0.48), whereof the third quarter SEK
0.13 (0.14)
· Cash flow from operating activities was MSEK -160.4 (-114.6),
whereof the third quarter MSEK -47.7 (-33.7).The difference from the
previous period concerns costs related to the phase III program for
eprotirome
· Cash and cash equivalents and other short-term investments totalled
MSEK 198.4 (116.2) at the end of the period
· Discussions are ongoing regarding the out licensing of ERbeta and
RORgamma
· The phase III eprotirome trial AKKA started in September
Significant events after the end of the reporting period
Spin-off of preclinical operations
· The Board of Directors is preparing a spin-off of the preclinical
part of the company by transferring these operations to a subsidiary
· The company has initiated an efficiency program to reduce costs as
part of the spin-off
Management changes
· Per Bengtsson was appointed CEO
· Henrik Palm was appointed new CFO
Conference call today at 10.00 CET
CEO Per Bengtsson will present the report today at 10.00 CET in an
audiocast, held in Swedish, available via a link on
www.karobio.se (http://www.karobio.se/) and telephone: +46 8 5051 59809
or +44 20 710 863 03
For more information, please contact: Karo Bio AB (publ) Novum,
141 57 Huddinge, Sweden
Per Bengtsson, Chief Executive Officer Telephone: +46 8 608 60 00
Telephone:+46 8 608 6027 or +46 734 474 128 Facsimile: +46 8 774 82 61
E-mail: per.bengtsson@karobio.se Corp. reg. no. 556309-3359
Website:
www.karobio.com (http://www.karobio.com/)
The information in this report is such that Karo Bio is required to
disclose under the Swedish Securities Market Act. The information was
disclosed on October 25, 2011, 08:30 CET.
INTERIM REPORT JANUARY-SEPTEMBER 2011
| Source: Karo Pharma AB
Attachments
