Copyright © Inderes 2011 - present. All rights reserved.
Regulatory press release

Modus Therapeutics publishes year-end report for 2023

Modus Therapeutics Holding
Download the release

STOCKHOLM, SWEDEN - 21 February 2024: Modus Therapeutics Holding AB (”Modus Therapeutics”) hereby publishes a year-end report for 2023. The report is available as an attached document and on the company's website (www.modustx.com). Below is a summary of the interim report.

John Öhd, Modus Therapeutics' CEO, commented:” 2023 has been a very important and exciting year for Modus Therapeutics. With positive top-line data for our main candidate sevuparin against serious systemic inflammations such as sepsis and endotoxemia, new research from cell to human that shows sevuparin's potential in additional therapeutic areas as well as secured financing, we have laid the foundation for a new phase in the company's development.
The research, presented at the annual European Hematology Association (EHA) and American Society of Hematology Meeting and Exposition 2023 (ASH), showed consistent results regarding sevuparin's ability to potently suppress the iron-regulating hormone hepcidin in cultured cells, mice and humans. In our research, sevuparin was also able to counteract anemia and improve kidney status in mice that developed chronic kidney disease. These data reinforce the potential for a new clinical program for patients with anemia in chronic kidney disease starting with a tailored, two-part phase IIa study. We expect to be able to initiate such a study in the first half of 2024, with estimated reporting of its first part in the first quarter of 2025 and in the beginning of 2026 for its second part. I would like to take this opportunity to express a special thank you to our existing and new shareholders who have chosen to participate in the issue. Your continued support is invaluable in our endeavor to develop new, effective and safe treatments for high-need diseases with multi-billion dollar market potentials”

The fourth quarter in figures

  • The loss after tax amounted to TSEK 4 068 (9 356).
  • The loss per share amounted to SEK 0,18 (0,58).
  • The cash flow from current operations was negative in the amount of TSEK 3 127 (8 192).

The full year in figures

  • The loss after tax amounted to TSEK 17 898 (18 320).
  • The loss per share amounted to SEK 1,01 (1,14).
  • The cash flow from current operations was negative in the amount of TSEK 16 684 (21 724).

Important events during the quarter

  • Modus Therapeutics presents final data from its Phase 1b LPS-provocation study with sevuparin at the annual ISICIP symposium in Barcelona.
  • Modus Therapeutics Holding AB resolves to conduct a Rights Issue and an Offset Issue.
  • Modus Therapeutics Holding AB Announces Final Outcome in Rights Issue.
  • Modus Therapeutics presented data on sevuparin demonstrating its potential to treat anemia in chronic kidney disease at the annual American Society of Hematology (ASH).

Important events after the end of the period
No event to report.

CEO John Öhd will provide comments on the report in an interview with Jonathan Furelid on February 23 at 11:00 Link to Interview: https://www.youtube.com/live/FeVkg1twfqQ?si=iZxJ09SItLgS98IG

For more information on Modus Therapeutics, please contact:
John Öhd, CEO, Modus Therapeutics
Phone: +46 (0) 70 766 80 97
Email: john.ohd@modustx.com

This information is information that Modus Therapeutics Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-21 08:00 CET.

Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Website: www.skmg.se

About Modus Therapeutics and sevuparin
Modus is a Swedish biotechnology company that is developing its proprietary polysaccharide sevuparin as a potential treatment for several major healthcare needs including sepsis, endotoxemia, severe malaria and other disorders with severe systemic inflammation as well as states of anemia, related to chronic inflammation such as kidney disease. There is a great need for new treatments that can effectively treat these conditions. Modus’ ambition is to create a paradigm shift in the care of these diseases, where sevuparin could provide therapeutic benefits. Modus Therapeutics is listed on the Nasdaq First North Growth market (“MODTX”). More information is available at www.modustx.com.

Sevuparin is a clinical stage, innovative proprietary polysaccharide drug with a multimodal mechanism of action, including immunomodulating, anti-adhesive and anti-aggregate effects. Sevuparin is a heparinoid with markedly attenuated anti-coagulation features that allows severalfold higher doses to be given, compared to regular heparinoids, without the associated risk for bleeding side-effects. Two routes of administration of sevuparin are currently being tested – an IV formulation for in-patient administration and a subcutaneous formulation that allows ambulatory and home care administration.

Attachments
Modus Q4 2023 ENG 02 21