Regulatory

Quarterly Report Q1 2022: Strong Orviglance support from healthcare professionals

2022-05-11
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Ascelia Pharma AB (publ) (ticker: ACE) today published its quarterly financial report for Q1 2022 (January – March 2022), which is now available on the company’s website: https://www.ascelia.com/ir-media/financial-reports/

SIGNIFICANT EVENTS IN Q1 2022

  • Market research from healthcare professionals provides strong Orviglance support
  • Suspension of Russian clinical activities for Orviglance
  • Last patient visit completed in Orviglance Hepatic Impairment Study
  • Orviglance comparison study to gadolinium accepted for ESGAR conference
  • Issue and repurchase of series C shares for share saving program

SIGNIFICANT EVENTS AFTER THE PERIOD

  • New study positively shows that Orviglance MRI liver enhancement is not influenced by intake of a light meal
  • CFO Kristian Borbos resigns; search for successor ongoing

FINANCIAL SUMMARY Q1 2022

  • Operating result of SEK -32.6M (SEK -33.7M)
  • Earnings per share of SEK -0.84 (SEK -1.00)
  • Cash flow from operations of SEK -31.4M (SEK -22.9M)
  • Cash and marketable securities of SEK 232.6M (SEK 165.4M)

 
“In the first quarter, we continued to make progress with Orviglance. Most importantly, we completed patient recruitment in the Hepatic Impairment Study and announced the results from an extensive market research showing very strong support among healthcare professionals for a new contrast agent with a profile as Orviglance. After the period, we also reported results from our successful Food Effect Study which shows positively that Orviglance MRI liver enhancement is not influenced by intake of a light meal.
Because of the Russian invasion of Ukraine, we decided to suspend all clinical activities in Russia. Our expectation is to complete patient enrollment for the SPARKLE study in 2022. As our clinical development team is fully focused on SPARKLE, we will not de-focus them and hence postpone initiation of patient enrollment in the Oncoral Phase 2 study until we are able to do this without impacting SPARKLE”, said Magnus Corfitzen, CEO at Ascelia Pharma.

A presentation for analysts, investors and media will be held today 11 May at 10:00am CET. The event will be hosted by the company’s CEO Magnus Corfitzen, CFO Kristian Borbos, CMO Carl Bjartmar and CCO Julie Waras Brogren. The presentation will be held in English. The presentation can be followed live via the link: https://tv.streamfabriken.com/ascelia-pharma-q1-2022

It will also be possible to take part of the audiocast afterwards at the same address or at Ascelia Pharma’s website: https://www.ascelia.com/ir-media/financial-reports/

To participate in the telephone conference, please use the dial-in details shown below:
SE: +46 850 558 373
UK: +44 333 3009 269
US: +1 646 7224 903
DK: +45 787 232 52