Saniona publishes its interim report for the first quarter of 2024
| Q1 2024 (Q1 2023) |
| Revenue was SEK 6.0 M (2.2) |
| Operating profit/loss was SEK -13.7 M (-21.1) |
| Net profit/loss was SEK -9.2 M (-21.7) |
| Cash and cash equivalent SEK 71.4 M (87.8) |
| Basic earnings/loss per share was SEK -0.08 (-0.35) |
| Diluted earnings/loss per share were SEK -0.08 (-0.35) |
Business highlights in Q1 2024
- On January 2, Saniona announced selection of SAN2465 as a preclinical candidate for major depressive disorder.
- On January 10, the board of directors resolved on an issue of units consisting of shares and warrants with preferential rights for the existing shareholders, which was approved at the extraordinary general meeting on January 16, 2024.
- On February 7, Saniona announced outcome in the rights issue of a proceed of approximately SEK 88.9 million before issue costs. On February 15, Saniona also announced a directed issue of units to guarantors in the rights issue as well as convertibles of SEK 10 million to Formue Nord.
Significant events after the reporting period
- On May 7, Saniona reported progress on pipeline and other activities.
Comments from the CEO
“After strengthening our financial position through a rights issue, we are now focusing on advancing our epilepsy assets to provide clinical proof of concept for SAN711 and preparing SAN2355 for Phase 1, while we are exploring new partnership opportunities. With a strong efficacy and safety profile, and a potential approval in Mexico this year, tesofensine could address a significant medical need and generate new revenue streams for Saniona.”