Idogen AB Interim report

January 1 - June 30, 2020
Second quarter (April-June 2020)

  • Other operating income amounted to KSEK 2,782 (1,141)
  • Operating loss was KSEK -7,292 (-11,307 of which impairment loss on patents amounted to KSEK -4,573) KSEK
  • Loss for the period totalled -7,976 (-11,213) KSEK
  • Cash flow from operating activities was KSEK -9,003 (-6,531)
  • Loss per share was SEK -0.87 (-2.31)
Period (January-June 2020)
  • Other operating income amounted to KSEK 4,195 (1,994)
  • Operating loss was KSEK -13,952 (-18,069)
  • Loss for the period totalled KSEK -14,197 (-17,856)
  • Cash flow from operating activities was KSEK -10,788 (-18,562)
  • Loss per share was SEK -2.03 (-3.68)
Significant events in the second quarter
  • In June, Idogen was approved for listing on Nasdaq First North Growth Market.
  • From June 4, Idogen's shares are traded on Nasdaq First North, which was noted on Time Square in New York. 
  • Idogen's collaboration parner established a GMP-certified process for large-scale production of the company's cell therapy product.
  • The ongoing Corona pandemic has so far had some impact on the company's operations. During the pandemic, Radboud University Medical Center has worked at reduced capacity. In collaboration with Radboud, Idogen continuously monitors the possible impact on our development plans that could arise if Radboud is not able to return to its normal level of activity in the near future.
Significant events in the second quarter
  • At the end of January, Crown Princess Victoria and Prince Daniel visited Idogen to learn more about the company's tolerogenic cell therapy.
  • A rights issue underwritten to 88% was completed in March, and generated net proceeds of MSEK 20.6 for Idogen.
  • In March, disbursements from the EU's Horizon 2020 programme resumed and KEUR 550 was paid out.
Significant events after the end of the period
  • In july, Åsa Schiött was appointed new Chief Scientific Officer (CSO) and Vicky Venizelos Chief Regulatory Officer (CRO).
  • No other significant events occurred after the end of the period that affected the results or financial position.
If you have any questions, please contact:
Anders Karlsson, Chief Executive Officer
Phone: +46 (0) 709 18 00 10
E-mail: anders.karlsson@idogen.com
Certified Adviser
Erik Penser Bank AB, Box 7405, SE-103 91 Stockholm
Phone: +46 (0)8-463 80 00
E-mail: certifiedadviser@penser.se.
Idogen (Nasdaq First North Growth Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient's immune system from attacking biological agents, transplanted organs or the body's own cells or tissues. The company's most advanced project, IDO 8, is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralising antibodies. The company's second project, IDO T, is being developed to prevent kidney transplant rejection. In a third programme, IDO AID, Idogen is focused on the treatment of autoimmune diseases. The treatment for all indications is based on the patient's own cells and is expected to have a favourable safety profile and long-lasting effect. The potential for a short-term treatment to yield a long-term effect is a major advantage in health economics for both patients and divisions providing care.

Source: Cision
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