NeuroVive: Interim report 1 Jan. 2015 till 31 Mar. 2015

Capital raising characterizes NeuroVive´s first quarter

First Quarter (1 Jan. 2015 – 31 Mar. 2015)

  • Net revenues were SEK 0 (0) and other operating income was SEK 49,000 (43,000).
  • Loss before tax was SEK -14,271,000 (-9,877,000).
  • Earnings per share* were SEK -0.50 (-0.39).
  • Diluted earnings per share** were SEK -0.50 (-0.39).

* Profit/loss for the period divided by the average number of shares before dilution at the end of the period.

**Profit/loss for the period divided by the average number of shares after dilution at the end of the period.

Business highlights in the first quarter of 2015

  • The new subsidiary, NeuroVive Pharmaceutical Asia, Inc., secured funding February 11 of just over USD 3 m ahead of potential IPO in Taiwan.

  • On February 20, NeuroVive has completed a directed share issue, which brings SEK 60 million to the Company after transaction costs.

Post balance sheet events

  • On April 17, NeuroVive has announced that the company’s development project NVP014 for the treatment of ischemic stroke is entering a new phase in collaboration with UK partner Isomerase Therapeutics.

  • NeuroVive has established a subsidiary in Lyon, France, in April. The establishment is part of a process of extending its ongoing collaboration with Hospices Civils de Lyon (HCL) and Professor Michel Ovize (the OPeRa program) to include drug development for the treatment of stroke.

  • On April 21 NeuroVive announced that the independent safety committee has endorsed moving on to the next dose level without any safety issues, following the treatment of 10 of 20 patients in the ongoing clinical phase IIa study for traumatic brain injury with the company’s drug candidate NeuroSTAT®. Consequently, the study will continue as planned and move on to the next dosage group.

  • The first patient has been enrolled in a clinical phase II study for acute kidney injury using the company’s product CicloMulsion®, which was announced on April 27.

  • The results of a clinical phase II study indicating that cyclosporine counteracts brain injury in a subset of stroke patients undergoing thrombolysis has been published in an article co-authored by one of NeuroVive’s research partners, professor Michel Ovize of Hospices Civils de Lyon (HCL).

  • NeuroVive has completed a directed share issue on May 8, 2015, which brings SEK 70 million to the Company before transaction costs. The share issue was directed to a limited group of institutional US investors in order to strengthen the company’s ownership base in the US.

Read the interim report attached below

NeuroVive Pharmaceutical AB (publ) is obligated to publish the information contained in this press release in accordance with the Swedish Securities Market Act. This information was provided to the media for publication at 8:30 a.m.CEST on May 20, 2015.