Summary of the Year-end report.
01-10-2016 – 31-12-2016
- The group’s net sales amounted to SEK 0 Thousand.
- The group’s profit/loss after financial items was SEK-9 336 Thousand.
- The group’s earnings per share amounted to SEK-0.64.
- The equity ratio was 88.7%.
12-04-2016 – 31-12-2016
- The group’s net sales amounted to SEK 0 Thousand.
- The group’s profit/loss after financial items was SEK-16 992 Thousand.
- The group’s earnings per share amounted to SEK-1.46.
The operating subsidiary SynAct Pharma ApS started its operations in 2012. SynAct Pharma AB was founded on 12th April 2016. Thus, the group relationship arose 12/04/2016. For this reason, no comparative periods relating to the group and the parent company can be presented. “SynAct Pharma AB” means the parent company SynAct Pharma AB with company registration number 559058-4826. “The Company” or “SynAct” refers to the group, that is, SynAct Pharma AB and its wholly-owned subsidiary SynAct Pharma ApS.
Definitions
Earnings per share: Profit/loss for the period divided by the average number of shares. The average number of shares for the Fourth Quarter: 12,260,021 shares. The number of shares as at 31 December 2016 amounted to 12 260 021.
Equity ratio: Equity divided by total capital.
Significant events during 2016
Second Quarter
- In May/June 2016, a share issue was carried out , which was over subscribed to 203%. The issue raised approximately SEK 32.3 million for the company before issue costs.
- On 30 May 2016 an Extraordinary General Meeting was held at SynAct, at which Lars Adlersson was elected as a board member.
Third Quarter
- SynAct shares and subscription options were listed on Aktietorget on 11 July 2016.
Fourth Quarter
- SynAct fulfilled final commitments to the financier Seed Fund CapNova by a one-off payment of DKK 3.3 million.
- Dr. Thierry Duvauchelle, MD, was recruited as Chief Medical Officer (CMO) with responsibility for the clinical development of the candidate drug, AP1189.
- SynAct submitted an application to the French Medicines Agency, ANSM, and the local Ethics Committee to initiate a Clinical Phase I study with AP1189.
CEO Jeppe Øvlesen has the word
2016 has been an important year for SynAct, partly due to a new share issue and listing on Aktietorget, and partly due to important preparations for the Clinical Phase I study. Preparations have mostly consisted of formulation work and production of AP1189 for use in the phase I study. This was followed by completion of the documentation required to start the clinical study. The ethical and regulatory applications were submitted to the French authorities in December 2016. The design of the Phase I study is complete and the study is scheduled to commence as soon as we have received approval from the authorities. The study will be conducted in France, given that we have worked with the French authorities in the past and have good contacts with them. The results from the study are calculated to be presented at the end of 2017.
At the end of November we were able to announce that we had recruited Dr. Thierry Duvauchelle as Chief Medical Officer with the aim of strengthening the competence of the company in preparation for the clinical study. Dr. Duvauchelle is responsible for the clinical development of our drug candidate. Dr. Duvauchelle has been Head of Paris’s largest Phase I clinic, Aster-Cephac, for many years and has held the position of Corporate VP in SGS, responsible for their Clinical Phase I clinics in France and Belgium. The agreement with Dr. Duvauchelle is therefore very gratifying and with more than 25 years of experience in early clinical development he brings valuable expertise to SynAct, to ensure that we can implement our Phase I program with the greatest possible safety and to the highest standards.
Jeppe Øvlesen
CEO – SynAct Pharma AB
Synact Pharma AB
Medicon Village
Scheelevägen 2
SE-223 81 Lund
Sweden
Telephone +45 28 44 75 67