Interim report Q3 2021

“The third quarter was another productive period for SynAct Pharma, both from an R&D perspective but also in terms of preparing the company for the intense work ahead and ensuring SynAct is set to take advantage of future opportunities,” said Jeppe Øvlesen, CEO.

July – September

  • Net sales during the period amounted to 0 (0) TSEK.
  • Loss before tax amounted to -20,676 (-9,195) TSEK.
  • Earnings per share amounted to -0.70 (-0.87) SEK.
  • Cash flow from operating activities amounted to -18,250 (-8,882) TSEK.
  • Cash flow from financing activities amounted to 0 (30,806) TSEK.

January – September

  • Net sales amounted to 0 (0) TSEK.
  • Loss before tax amounted to -50,601 (-21,519) TSEK.
  • Earnings per share amounted to -1.67 (-0.87) SEK.
  • Cash flow from operating activities amounted to -44,740 (-22,101) TSEK.
  • Cash flow from financing activities amounted to 74,400 (44,722) TSEK.
  • Cash and cash equivalents at the end of the period amounted to 44,402 (26,151) TSEK.

Numbers in parenthesis refer to prior year period. ”SynAct Pharma AB” means the parent company SynAct Pharma AB with corporate registration number 559058-4826. The ”Company” or ”SynAct” means the Group i.e., SynAct Pharma AB and its wholly owned affiliate SynAct Pharma ApS.

Significant events during the third quarter 2021

  • July 7 − SynAct announced additional data from the Phase 2a trial of AP1189 in Covid-19 infected patients.
  • July 7 – The appointment of Anders Dyhr Toft, MD PhD MBA, as Chief Medical Officer (CMO) was announced.
  • August 6 – SynAct strengthened its organization further by the hiring of Patrik Renblad as VP Finance and Lise Agersted as Director of Operational R&D.
  • August 20 – SynAct communicated that the American College of Rheumatology Convergence (ACR) has invited the company to present an abstract on AP1189 at ACR Convergence 2021 conference in November.
  • August 25 – SynAct communicated that a European patent was granted covering the company’s leading drug candidate AP1189 in methods of treating kidney disease.
  • August 27 – SynAct Pharma provided an update on the recruitment status on the BEGIN study, a phase 2a study testing AP1189 in RA. The company has recruited 98 of the planned 105 subjects and expects to complete recruitments by mid-September which would enable top-line data to be presented early in the fourth quarter 2021.
  • September 24 – SynAct Pharma announced the completion of recruitment to the BEGIN study and updated the expected timeline for reporting of top-line data to end of November.

Significant events after the end of the period

  • October 15 – SynAct Pharma dosed the first healthy volunteer in the company’s clinical pharmacokinetics study where new tablets are being tested.
  • October 22 – Final dosing of patients in the BEGIN study is announced and the company confirms the timeline for reporting of top-line results to before end of November this year.
  • November 5 – The company announces completion of the three month’s toxicology program in two species, enabling the dosing of AP1189 for duration of up to three months in future clinical trials.
  • November 11 – SynAct Pharma announces a revision of the design of the clinical study of AP1189 in Nephrotic Syndrome.

The information was submitted, through the agency of the contact persons below, for publication at 07:00 a.m. CET on November 12, 2021.

For further information about SynAct Pharma AB, please contact: 

Jeppe Øvlesen
CEO, SynAct Pharma AB
Phone: +45 28 44 75 67
Mail: joo@synactpharma.com

Thomas Jonassen
CSO, SynAct Pharma AB
Phone: +45 40 15 66 69
Mail: tj@synactpharma.com