NeuroVive Pharmaceutical AB Interim Report January - March 2018

STOCKHOLM, May 22, 2018 /PRNewswire/ -- Successful rights issue

Business operations

Important events January – March 2018

• NeuroVive decided to conduct a rights issue for the continued development of the company's drug projects following shareholder approval at an Extraordinary General Meeting.
• The company reported positive efficacy data in an experimental model, entailing a breakthrough for the NVP025 mitochondrial myopathy project.
• NeuroVive presented the company at the Stockholm Corporate Finance Life Science Seminar.
• The company presented its NASH research at the 2nd Annual H.C. Wainwright NASH Investor Conference.

Important events after the end of the period

• NeuroVive conducted an oversubscribed rights issue.
• The company announced that the last patient had been recruited to the first KL1333 Phase I clinical study.
• KL1333 was granted orphan drug designation by the FDA in the US.
• NeuroVive announced a collaboration with TRACK-TBI, a network of world-class traumatic brain injury (TBI) researchers.
• NeuroVive held Annual General Meeting on 27 April in Lund, Sweden.
• NeuroVive and Yungjin reported positive KL1333 phase I clinical study results, paving the way for further clinical development.

Financial information 

First quarter (January – March 2018) 

• Net revenues were SEK 0 (27,000) and other operating income was SEK 174,000 (63,000)
• Loss before tax was KSEK -13 053 (-21 390)
• Loss per share* was SEK -0,25 (-0,40)
• Diluted loss per share** was SEK -0,25 (-0,40)

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

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

Please find the complete interim report attached below.

This information is information that NeuroVive Pharmaceutical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:30 a.m. CEST on 22 May 2018.

For more information please contact:
Daniel Schale, Director of Communications
+46 (0)46-275-62-21
ir@neurovive.com

NeuroVive Pharmaceutical AB (publ)

Medicon Village
SE-223 81 Lund
Sweden
Tel: +46(0)46-275-62-20 (switchboard)
info@neurovive.com
www.neurovive.com

About NeuroVive 

NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine, with one project in clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT®) and one project in clinical phase I (KL1333) for genetic mitochondrial diseases. The R&D portfolio consists of several late stage research programs in areas ranging from genetic mitochondrial disorders to cancer and metabolic diseases such as NASH. The company's strategy is to advance drugs for rare diseases through clinical development and into the market. The strategy for projects within larger indications outside the core focus area is out-licensing in the preclinical phase. NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF).

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SOURCE NeuroVive Pharmaceutical