Interim Report – January to March 2015
May 19, 2015
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 its Interim Report for the first quarter 2015.
- Revenue for the 1st quarter 2015 was SEK 18.9 (9.9) million
- Operating result for the period amounted to SEK 2.8 (-2.8) million
- EBITDA for the period amounted to SEK 2.9 (-2.7) million
- Net result for the period amounted to SEK 2.9 (-3.1) million
- Cash flow for the period was SEK -6.0 (-1.8) million
- Cash and cash equivalents at the end of the period amounted to SEK 29.9 (31.2) million
Significant events during the quarter
- The ongoing work with our proprietary programs have intensified during the period and are developing well
- Strong development of revenues during the quarter, mainly driven by a very positive development of royalties
- Financial costs have been reduced while the payment terms related to royalties from a product have been extended, thus the underlying cash and cash equivalents at the end of the period amounted to SEK 41.9 (31.2) million
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.
Affibody has ongoing commercial relationships with several companies including Algeta, Amylin, Sobi, GE, Daiichi-Sankyo, Daewoong and Thermo Fisher.
Affibody was founded in 1998 by researchers from the Royal Institute of Technology and the Karolinska Institute and is based in Stockholm, Sweden.
Further information can be found at: www.affibody.com