Summary
- During the quarter were the company’s shares listed for trading on Nasdaq Stockholm Mid Cap. In connection with this were new shares issued that provided the company 350 000 TSEK before underwriting expenses.
- The company's project portfolio has continued to develop according to plan including the start of dosing in a second phase I clinical trial that is done by Janssen Biotech.
- The Board of Directors proposes that no dividend shall be paid for the year 2016.
Conference call for investors, analysts and the media
The 2016 Financial Statement will be presented by Alligator’s CEO, Per Norlén and members of the management group on Friday February 17, 2017, at 10.00 (CET).
Phone numbers for participants from:
Europe: +44 (0) 2030089803, Sweden: +46 856642696, US: +1 8558315946
The recorded conference call will be available on Alligators website after completion of the conference, www.alligatorbioscience.com
Fourth quarter 2016 in summary
- During the quarter, the company's shares were listed on the Nasdaq Stockholm Mid Cap.
- In connection with this, a new share issue which provided the company TSEK 350 000 before underwriting expenses was done.
- In October began dosing in a second phase I clinical trial with ADC-1013. This second study includes intravenous dose escalation and is done by Janssen Research & Development LLC.
- Net sales for the period amounted to TSEK 6 433 (512).
- Result for the period amounted to TSEK -19 352 (-39 450) which corresponds to a result per share before and after dilution with SEK -0,31 (0,67).
- Cash flow amounted to TSEK 310 886 (-28 690) and cash and cash equivalents at the end of the quarter amounted to TSEK 659 136 (365 605).
January – December 2016 in summary
- Alligator’s clinical study with ADC-1013 was expanded in the first quarter resulting in a milestone payment of 5 MUSD following the terms in the partnership agreement with Janssen Biotech Inc.
- Janssen started in October a phase I clinical trial with ADC-1013.
- Cell-line development for manufacturing of clinical materials for ATOR-1015 began in January.
- Result for the period amounted to TSEK -48 356 (207 377), which is equivalent to earnings per share before and after dilution of SEK -0,80 (3,81 and 3,70 respectively).
- Cash flow for the period amounted to TSEK 287 135 (326 232).
- During the second quarter, the participation in the Biosynergy project was written down with TSEK 22 120.
- During 2016 has Alligator increased the share of expenses invested in R&D to 64,3% (54,6%).
- The number of employees has increased during 2016, mainly within R&D, and the company is well prepared for further development in 2017.
Events after the end of the period
- In January 2017 has 700 000 warrants been converted to an equal number of shares.
Financial summary (Group)
| October-December | January-December | |||
| 2016 | 2015 | 2016 | 2015 | |
| Net sales, TSEK (SEK thousand) | 6 433 | 512 | 58 240 | 289 797 |
| Profit/loss for the period, TSEK | -19 352 | -39 450 | -48 356 | 207 377 |
| Cash flow for the period, TSEK | 310 886 | -28 690 | 287 135 | 326 232 |
| Cash and cash equivalents, TSEK | 659 136 | 365 605 | 659 136 | 365 605 |
| Equity ratio, % | 96% | 95% | 96% | 95% |
| R&D costs as % of operating costs excluding impairments | 68,5% | 47,3% | 64,3% | 54,6% |
| Earnings per share before dilution, SEK | -0,31 | -0,67 | -0,80 | 3,81 |
| Earnings per share after dilution, SEK | -0,31 | -0,67 | -0,80 | 3,70 |
| Average number of employees | 35 | 26 | 31 | 27 |
For further information, please contact:
Rein Piir, VP IR, rein.piir@alligatorbioscience.com, +46 (0) 46 286 42 80
Per Norlén, CEO, per.norlen@alligatorbioscience.com, +46 (0) 46 286 42 80
Per-Olof Schrewelius, CFO, per-olof.schrewelius@alligatorbioscience.com, +46 (0) 46 286 42 85
This information is such information as Alligator Bioscience AB (publ) is obligated to disclose in accordance with EU market abuse regulation. The information was submitted, through the above contact persons, for publication on 17 February 2017 at 08:00 (CET)