Nuevolution AB (publ) Announces its Results for the First Quarter of 2019

STOCKHOLM, May 22, 2019 /PRNewswire/ -- Nuevolution AB (publ) announces its report for the first quarter of 2019. The report is available on the company's home page (www.nuevolution.com). The following is taken from the quarterly report.

Financial summary

 

	January - March
SEK million	2019	2018
Revenue from contracts with customers	14.1	8.3
Total operating expenses	-27.2	-31.3
Operating result	-13.0	-22.8
Net result	-12.0	-21.3
Basic and diluted earnings per share (SEK)	-0.24	-0.50
Cash flow from operating activities	-24.6	-25.6
Cash and cash equivalents	86.2	90.8

 

Business and R&D summary

• Key preclinical milestone achieved in Nuevolution-Almirall collaboration following successful completion of sig­nificant preclinical research studies. Following multiple positive reviews, the Almirall partnered RORγt program continues towards clinical testing showing "best-in-class" potential
• The two cancer programs with Amgen Opt-In continues to progress positively
• Nuevolution BET-BD1 inhibitor candidate, NUE20798, exhibits potent effect on both disease - and biomarker lev­els in atopic dermatitis mouse model
• NUE20798 show encouraging in vivo safety following 11 days of oral dosing
• Highly potent Nuevolution IL-17A blockers with antibody-like binding properties now in testing in human skin explant model of psoriasis
• We are committed to deliver on our "selective" deal approach and to execute on valuable long-term collaborations. Partnering discussions are ongoing as we have communicated previously

"During the quarter, our partnerships with Almirall have progressed very well leading to the achievement of a key milestone in the collaboration. In Q1/19, we also nominated the drug development candidate in the bro­modomain BET BD1 selective inhibitor program (fibrosis, atopic dermatitis, possibly immunotherapy). With three programs at candidate stage and three well-functioning partnerships, I am also pleased to see the positive progress in our discussions for the next valuable partnership.", said Alex Haahr Gouliaev, CEO

Events occurred between 31 March and 22 May 2019

9 May 2019: Nuevolution's BET-BD1 selective inhibitor and candidate compound, NUE20798, shows positive effect on disease scoring and biomarker levels in an atopic dermatitis (eczema) mouse model

On Thursday, 23 May 2019 at 11:00 CET, the company's executive management will host a conference call and webcast discussion of the results and provide an update on the pipeline programs and partnering activities. Access to the event can be obtained as follows:

Please notice new time for conference call

LIVE access on Thursday 23 May at 11:00 CET

Telephone numbers:

SE: [phone]
DK: [phone]
UK: [phone]
US: [phone]

Webcast will be available at www.nuevolution.com in the Investors section and at www.financialhearings.com

REPLAY access

Webcast replay will be available at www.nuevolution.com in the Investors section and at www.financialhearings.com

For more information, please contact:

Alex Haahr Gouliaev, CEO
Phone: [phone]
Email: [e-mail]

Johnny Stilou, CFO
Phone: [phone]
Email: [e-mail]

Information about Nuevolution AB (publ)

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 develops its programs alone and in collaboration with pharmaceutical and biotechnology companies to seek future benefit for patients in need of novel medical treatment options. Nuevolution's internal programs are focused on therapeutically important diseases targets within severe inflammatory diseases and cancer.

The information was sent for publication, through the agency of the contact persons set out above, on Wednesday 22 May 2019 at 07:00 CET.

Nuevolution AB (publ) is listed at Nasdaq in Stockholm, Sweden (ticker: NUE). More information about Nuevolution can be found on: www.nuevolution.com .

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