Genkyotex Provides Q4 Business Update and Reports Cash Position - Seite 2

On December 31, 2020, the Company’s cash and cash equivalents totaled €1.2 million vs. €3.6 million on September 30, 2020. The Company’s cash burn over the FY 2020 was primarily driven by R&D expenses related to the preparation of the End-Of-Phase 2 meeting with the FDA and the Phase 1 study to investigate higher dose with setanaxib.

The Company expects its current resources to support anticipated operations until the end of February 2021, taking into account the facts and assumptions detailed in note 2.1 “Going concern” of the December 31, 2019 consolidated financial statements and the condensed consolidated interim financial statements prepared in accordance with IFRS for the six-month period ended June 30, 2020. Genkyotex will be required to fund the ongoing operations with new capital. Calliditas Therapeutics, the majority shareholder of Genkyotex, has expressed its intent to participate in such future financings on a pro rata basis. Until such financing has occurred, Calliditas will support Genkyotex by way of debt financing.

Financial results to September 30, 2020

As part of the accounting consolidation process of Calliditas, the Company prepared consolidated financial statements for the nine-month period ended September 30, 2020 under IFRS, as issued by the International Accounting Standards Board.

These financial statements are available in the Investors section of the Company’s website. The Company does not plan going-forward to report on standalone nine-month financial information or on quarterly financial information (other than in relation to its quarterly cash and cash equivalents position).

In thousands of euros	Nine-month period ended September 30, 2020	At December 31, 2019
Other Income	35	142
Research & Development expenses	(9,627)	(6,305)
Subsidies and Research Tax Credit	356	899
General & Administrative expenses	(1,757)	(2,160)
Operating loss