Idogen publishes Year-end report for 2020

Idogen AB's Year-end report for January to December 2020 is available on the company's website https://idogen.com/en/investors/financial-reports/ 

Significant events in the fourth quarter
  •   A rights issue underwritten to 100% was completed in November, and generated net proceeds of MSEK 28.3 for Idogen

 

Significant events during the period
  •   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 were resumed and KEUR 550 was paid out.

  •   In June, Idogen's shares were listed on Nasdaq First North Growth Market following a transfer from Spotlight.

  •   In June, it was announced that the manufacturing process for the company's tolerogenic cell therapy had been successfully established at Idogen's partner, the Radboud University Medical Center, in the Netherlands.

  •   Åsa Schiött was appointed new Chief Scientific Officer (CSO), Christina Brattström new Chief Medical Officer (CMO) and Vicky Venizelos Chief Regulatory Officer (CRO).

  •   In September, Idogen announced that the ongoing coronavirus pandemic had affected the IDO 8 project. The planned start of the first clinical trial of the tolerogenic cell therapy IDO 8 has been postponed six months, from the first to the second half of 2021. This is due to temporary limitations in capacity at the manufacturing partner Radboud University Medical Center as a result of the COVID-19 pandemic.

 

Significant events after the end of the period
  •   No other significant events occurred after the end of the period that affected the results or financial position.

 

Financial information of the fourth quarter (October-December 2020)
  •   Other operating income amounted to KSEK 1,949 (1,225)

  •   Operating loss was KSEK -7,449 (-8,005)

  •   Loss for the period totalled KSEK -7,897 (-8,207)

  •   Cash flow from operating activities was KSEK -10,428 (-7,790)

  •   Loss per share before dilution was SEK -0.74 (-1.69) Loss per share after dilution was SEK -0.74 (-1.69)

  •   The proposed dividend is SEK 0.00/share (0.00)

 

Financial information of the period (January-December 2020)
  •   Other operating income amounted to KSEK 8,113 (4,192)

  •   Operating loss was KSEK -26,153 (-32,826)

  •   Loss for the period totalled KSEK -26,822 (-32,694)

  •   Cash flow from operating activities was KSEK -28,081 (-34,974)

  •   Loss per share before dilution was SEK -3.32 (-6.74). Loss per share after dilution was SEK -3.32 (-6.74)

 

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

This year-end report has been approved by the Board of Directors and the CEO for publication. The information was submitted, through the care of the above contact person, for publication on February 9, 2021 at 08.30 CET.

Certified Adviser:
Erik Penser Bank AB, Box 7405, 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 tissue. The company's most advanced project, IDO 8, is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralizing 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 favorable safety profile and long-lasting effect. The potential for a short-term treatment intervention to yield a long-term effect is a major advantage in health economics for both patients and divisions providing care. More information about Idogen is available at www.idogen.com

Source: Cision
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