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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Moberg Pharma Ab (publ) | LSE:0P48 | London | Ordinary Share | SE0003613090 | MOBERG PHARMA ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 30.45 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
STOCKHOLM, May 14, 2019 /PRNewswire/ --
FIRST QUARTER (JAN-MAR 2019)
* represents continuing operations only
SIGNIFICANT EVENTS IN THE FIRST QUARTER
SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER
STATEMENT FROM THE CEO
The divestment of our OTC business represents a major change for Moberg Pharma and allows shareholders to recognize a compelling value for both components of the business. Since April 1, 2019, Moberg Pharma has a fully funded business whose main goal is to make MOB-015 the future market leader in onychomycosis.
My final report as CEO follows a very eventful quarter that concluded a phase in the company's history. Recently, we successfully divested the OTC business, which we had built up and refined since 2006. Instead we are in the near term fully focused on the development and commercialization of new pharmaceutical products. The transaction provided a capital gain of 556 MSEK after transactions costs, and the effect on the total profit was 502 MSEK, enabled us to repay the entire bond loan and to make a distribution to the shareholders of approximately SEK 43–45 per share planned for November 2019. We retain the upside of the remaining, fully financed business, focusing on MOB-015, whose potential alone substantially exceeds the value of the divested portfolio.
Continued focus on the US
The US will remain Moberg Pharma's most important market going forward, but this time with an emphasis on the much larger prescription market for nail fungus treatment. The commercialization plans for MOB-015 comprise a combination of direct sales and co-marketing with partners focused on the US, as well as out-licensing to other markets such as the EU, Japan, Canada and China – all with patent protection until 2032. Two attractive license agreements for MOB-015 are already in place in Canada (Cipher) and Europe (Bayer), and we look forward to adding exciting collaborations in the future. The agreement with Bayer was signed in the first quarter, and the partnership with this leader in OTC fungal treatments is an important proof of the large potential for MOB-015.
A new organization under new leadership
Since April 1, the organization has its sights set on the development, registration and commercialization of the future market leader in treatment of onychomycosis. It is a journey we have already made with Kerasal Nail and one we now intend to repeat with MOB-015 – this time under the leadership of Anna Ljung, the proposed CEO and the CFO of the company since our start. With the new management team that was recently presented, the organization is well-staffed for the challenges that await. After thirteen intensive and rewarding years as CEO and after the OTC divestment, Moberg Pharma is now entering a new stage and it is a logical time for a new management to take over. I will be continuing to support the business based on the company's new needs, in areas such as business development in and outside the US and in investor relations.
My sincere thanks
I would again like to thank both current and former employees, without whose valuable efforts none of this would have been possible. You are simply fantastic! I would also like to express my sincere gratitude to our shareholders and the Board of Directors, who have supported us on this exciting and eventful journey and continue to stand behind us in the next stage as we are aiming to create the future market leader in nail fungus. Next on the agenda is the election of a new Board of Directors at the Annual General Meeting. The next milestone will be the first interim results from the Phase 3 program for MOB-015, which are expected later this year, in parallel with continued commercialization preparations. It's time for Moberg Pharma 2.0!
Peter Wolpert, CEO of Moberg Pharma
CONFERENCE CALL
CEO Peter Wolpert will present the report at a telephone conference today, May 14, 2019, at 3:00 p.m. CET. Dial-in: SE: +46 8 505 583 59, US: +1 833 526 83 80.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Peter Wolpert, CEO, Phone: +46-707-35-71-35, US +1-908-432-22-03, E-mail: peter.wolpert@mobergpharma.se
Anna Ljung, CFO, Phone: +46-70-766-60-30, e-post: anna.ljung@mobergpharma.se
ABOUT THIS INFORMATION
This information is information that Moberg Pharma AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8.00 a.m. CET on May 14th, 2019.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/moberg-pharma/r/moberg-pharma-ab-interim-report-january---march-2019,c2813116
The following files are available for download:
https://mb.cision.com/Main/1662/2813116/1044642.pdf | Moberg Pharma AB interim report January - March 2019 |
View original content:http://www.prnewswire.com/news-releases/moberg-pharma-ab-interim-report-january---march-2019-300849455.html
SOURCE Moberg Pharma
Copyright 2019 PR Newswire
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