Alzinova AB interim report January - September 2020

STOCKHOLM, Oct. 29, 2020 /PRNewswire/ -- The Board of Directors and the Chief Executive Officer of Alzinova AB hereby present the quarterly report for the period July-September 2020, and the accumulated report for the period January-September 2020.

Nine months, January - September 2020

• Net sales amounted to 0 SEK (0 SEK).
• Result after financial items amounted to -4,138,472 SEK (-3,345,629 SEK).
• Earnings per share amounted to -0.54 SEK (-0.44 SEK)
• Equity ratio amounted to 94.4% (96.3%).

Three months, July - September 2020

• Net sales amounted to 0 SEK (0 SEK).
• Result after financial items amounted to -1,240,085 SEK (-608,012 SEK).
• Earnings per share amounted to -0.16 SEK (-0.08 SEK)

Significant events during the third quarter of 202

• Alzinova presented preclinical data on the Company's candidates at the Alzheimer's Association International Conference (AAIC). The preclinical data support the continued development of the Company's lead candidate, ALZ-101.
• The manufacture of the ALZ-101 vaccine drug substance for the Phase 1b clinical trial in Alzheimer's disease patients was delayed due to additional analytical work. Delivery of the drug for the study was estimated to be the first quarter of 2021, and the study to commence with the first patient's first dose during the second quarter of 2021.
• Alzinova has continuously engaged in an active risk analysis effort related to covid-19 and is working closely with its partners to minimize the impact of covid-19.

Significant events after the third quarter of 2020

• Alzinova carried out a 95 percent guaranteed preferential rights issue of units of MSEK 49.6 with attached warrants. The warrants can provide additional proceeds of approximately MSEK 25-42 in January 2022 (upon full exercise).
• The rights issue was oversubscribed to approximately MSEK 86 including subscription commitments, corresponding to a subscription rate of 173 percent, 95 percent of which with preferential rights. Alzinova was provided MSEK 49.6 in proceeds before issuance and guarantee costs.
• Alzinova received positive feedback in scientific advice from the Finnish Medicines Agency Fimea, for the forthcoming clinical trial application of the Alzheimer's vaccine ALZ-101.

CEO comments