SynAct Pharma AB (publ) (“SynAct”) today publishes the fourth quarter and annual results of 2023.

October – December 2023

• The Group’s net sales amounted to SEK 0 (0) thousand.
• Operating expenses amounted to SEK 91,062 (30,523) thousand, an increase of 198%.
• The Group’s loss after tax amounted to SEK 90,543 (30,477) thousand.
• The Group’s earnings per share before and after dilution amounted to SEK -2.58 (-1.06).
• Cash flow from operating activities amounted to SEK -20,395 (-22,306) thousand.
• Cash flow from financing activities amounted to SEK 54,561 (76,025) thousand.
• Cash flow for the period amounted to SEK 34,166 (53,747) thousand.
• Cash and cash equivalents at the end of the period amounted to SEK 62,395 (108,245) thousand.

January – December 2023

• The Group’s net sales amounted to SEK 0 (0) thousand.
• Operating expenses amounted to SEK 224,496 (105,705) thousand, an increase of 112%, driven primarily by the two clinical studies in RA and higher administrative costs caused by the acquisition of TXP and write down of goodwill.
• The Group’s loss after tax amounted to SEK 215,810 (99,205) thousand.
• The Group’s earnings per share before and after dilution amounted to SEK -6.64 (-3.60).
• Cash flow from operating activities amounted to SEK -100,177 (-117,555) thousand.
• Cash flow from financing activities amounted to SEK 53,984 (200,712) thousand.
• Cash flow for the period amounted to SEK -45,823 (83,184) thousand

Significant events during the period

• Oct 3 – SynAct announces additional data from the EXPAND P2b clinical trial further supporting efficacy and activity seen in patients with elevated CRP.
• Oct 11 – SynAct carries out a directed issue of shares and warrants raising initial gross proceeds of SEK 60.5 million.
• Oct 12 – SynAct publishes prospectus in connection with admission to trading of new shares on Nasdaq Stockholm.
• Oct 31 – Change in number of shares and votes in SynAct Pharma. As of October 31, 2023, the total number of shares and votes in SynAct Pharma AB amounts to 35,570,980.
• Nov 1 – SynAct announces evaluation of the 4-week RESOLVE P2a clinical trial in moderate to severely active rheumatoid arthritis patients with an incomplete response to methotrexate.

Significant events after the end of the period

• Jan 28 – The Board of Directors of SynAct Pharma AB has
• received a request to convene an EGM
• Jan 30 – SynAct expands its Rheumatology Clinical Advisory Board with three new highly experienced advisors.
• Feb 1 – SynAct appoints Kirsten Harting as Chief Medical Officer.
• Feb 7 – Notice of extraordinary general meeting in SynAct Pharma AB. Upon request by >10% of the shareholders, an extra general meeting has been set to March 20, 2024.
• Feb. 22 – SynAct announces additional data from the EXPAND P2b clinical trial supporting continued development of the compound in rheumatoid arthritis.

For further information about SynAct Pharma AB, please contact:
Torbjørn Bjerke
CEO, SynAct Pharma AB
Phone: +46 727 44 41 58
Email: [email protected]
Email: [email protected]

Björn Westberg
CFO, SynAct Pharma AB
Phone: +46 703 33 91 23
Email: [email protected]