Lipidor (LIPI) Q2 2024 earnings summary

Executive summary

• Key activities completed for the upcoming Phase III study of AKP02G2 for psoriasis, with results expected in Q1 2025.

• Clinical trial material production finalized and preparations ongoing with CRO.

• Financing secured for the Phase III study through a rights issue and co-investment agreement with Cerbios-Pharma SA.

Financial highlights

• Net sales for Q2 2024 were 0 tkr (0), and for Jan–Jun 2024, 14 tkr (8).

• Operating result for Q2 2024 was -4,985 tkr (-3,541); for Jan–Jun 2024, -5,633 tkr (-5,881).

• Result per share for Q2 2024 was -0.08 SEK (-0.13); for Jan–Jun 2024, -0.11 SEK (-0.11).

• Cash flow for Jan–Jun 2024 was 22,125 tkr (-3,731), with cash and cash equivalents at 22,753 tkr (5,196) as of June 30, 2024.

• Equity per share at June 30, 2024 was 0.02 SEK (-0.32 at Dec 31, 2023); equity ratio improved to 67.13% from -330.70%.

Outlook and guidance

• Financing is secured for the Phase III study, with results targeted for Q1 2025.

• First patient in the Phase III study expected to start treatment at the end of September 2024.

• Ongoing discussions with potential licensees in South America and the Nordics to create additional revenue opportunities.