The next generation biopharmaceuticals

Interim Report – January to June 2017

2017-08-23

Interim Report – January to June 2017

Affibody Medical AB (publ) (“Affibody” or “the Company”), a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™, today issued its Interim Report for the second quarter 2017.

Financial Highlights

  • Revenue for the 2nd Quarter 2017 amounted to SEK 26.2 (33.6) m, and for the six month period to 57.4 (54.6) m
  • Operating result for the quarter amounted to SEK -19.7 (9.2) m, and for the six month period to -17.4 (-2.3) m
  • EBITDA for the quarter amounted to SEK -19.4 (9.3) m, and for the six month period to -16.8 (-2.0) m
  • Net result for the quarter amounted to SEK -19.6 (9.4) m, and for the six month period to -17.3 (-2.3) m
  • Cash flow for the quarter amounted to SEK -54.2 (105.0) m, and for the six month period to -36.2 (125.2) m
  • Cash and cash equivalents at the end of the period amounted to SEK 90.9 (132.3) m.

Significant Events during the Reporting Period

  • In May it was announced that we have decided to initiate a Phase II development with ABY-035, our proprietary psoriasis program.
  • During the quarter MedImmune terminated the agreement primarily as a result of changing R&D priorities.

Significant Events during the rest of the Year

  • During the first quarter, the first patient was dosed and evaluated in the clinical trial with ABY-029, to guide cancer surgery.

Significant Events after the Close of the Reporting Period

  • In August we filed the clinical trial application (CTA) to progress our psoriasis compound ABY-035 to Phase II.

Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

Affibody is developing a portfolio of innovative drug projects and, in addition, offers the half-life extension technology, Albumod™, for outlicensing.

The company is currently developing four proprietary programs. The first three are therapeutic programs that targets prevention of Alzheimer’s disease, autoimmune diseases, and psoriasis respectively. The fourth program is a diagnostic imaging program that is directed primarily towards metastatic breast cancer.

Affibody also has ongoing commercial relationships with several companies such as AbClon, Biotest, Daewoong, Daiichi Sankyo, GE Healthcare, Nordic Nanovector, and Swedish Orphan Biovitrum.

Further information can be found at: www.affibody.com

Affibody in short

Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

Upcoming reports Financial calendar

  • Year-end report (February 24, 2017)