Annual / Quarterly Financial Statement • Jan 30, 2018
Annual / Quarterly Financial Statement
Open in ViewerOpens in native device viewer
Press release 30 January 2018
1 January – 31 December 2017
"In December 2017, we announced that our preclinical portfolio will be expanded with a project where BioInvent and Transgene will co-develop potentially more efficacious and safe treatments of solid tumours by combining oncolytic viruses and anti-CTLA-4 antibodies. The collaboration underpins BioInvent's attractiveness as a partner to other leading developers of cancer immunotherapies. Combining oncolytic viruses with checkpoint inhibitors is a clinically proven concept, and CTLA-4 antibodies have a documented effect in cancer patients promoting immune system activation against tumours. The oncolytic virus will preferentially replicate in cancer cells enabling targeted expression of the CTLA-4 antibody. This will potentially avoid the side effects associated with systemic exposure and improve efficacy of this class of antibodies. Encoding a human anti-CTLA-4 antibody into the oncolytic virus' genome therefore provides a potentially useful immunotherapy combination strategy for cancer patients. In 2016, global revenues of the first approved CTLA-4 inhibitor, Yervoy® , exceeded USD 1 bn.
During the fourth quarter of 2017, BioInvent continued its preparations for an expansion of the BI-1206 clinical trial program, aiming at broadening its potential use and bringing benefits to additional patient
populations. An open, single-arm Phase I/IIa clinical study with a combination of BI-1206 and rituximab is planned to start in H1 2018. This study will complement the on-going CRUK funded clinical trial, and is estimated to enroll approximately twenty patients with indolent B-cell Non-Hodgkin Lymphoma (NHL) relapsed or refractory to rituximab, including patients with Mantle Cell Lymphoma, Follicular Lymphoma, and Marginal Zone Lymphoma. The new study will give BioInvent an opportunity to more rapidly investigate safety, therapeutic dose for BI-1206 and efficacy of the combination treatment.
Our strategic collaboration with Pfizer to develop antibodies targeting tumour-associated myeloid cells is progressing well. A pool of antibodies has been generated, and will now be characterized for functional activity.
In January 2018, I took up the position as acting CEO, and I am looking forward to leading our business activities until a permanent successor has been nominated and taken office," said Björn Frendéus, acting CEO of BioInvent.
Any questions regarding this report will be answered by Björn Frendéus, acting CEO, phone +46 (0)46 286 25 45, mobile +46 (0)708 11 25 45. The report is also available at www.bioinvent.com.
Based on its cutting-edge insights in immunology, cancer biology and antibody biology, BioInvent develops immunotherapies to improve and prolong cancer patients' lives. The company strives for excellence in drug development to create better health for cancer patients and significant value for our shareholders.
BioInvent's current operational activities are focused on:
BioInvent's lead drug candidate BI-1206 is a fully human antibody targeting CD32b, an immunosuppressive protein that is expressed in some patients with B-cell cancers. Research has shown that the expression of CD32b could lead to the development of resistance to rituximab, the current standard of care treatment of B-cell non-Hodgkin lymphoma (NHL) and chronic lymphocytic leukemia (CLL). As a result, BI-1206 is being developed as a drug candidate in combination with rituximab in B-cell cancers.
The first clinical study (Phase I/II) with BI-1206 is currently ongoing in patients with NHL and CLL who are resistant to rituximab. The initial safety and dose readouts from this study are expected in the first half of 2018. The study is financed and executed by Cancer Research UK (CRUK), Cancer Research Technology (CRT) and Leukaemia & Lymphoma Research (LLR).
In Q3 2017, BioInvent announced plans to expand the therapeutic potential of BI-1206 with an additional Phase I/IIa clinical study in combination with rituximab. The study is planned to include approximately twenty patients with indolent B-cell Non-Hodgkin Lymphoma (NHL) that is relapsed or refractory to rituximab. The targeted sub-indications are patients with Mantle Cell Lymphoma, Follicular Lymphoma, and Marginal Zone Lymphoma. The trial is planned to start in H1 2018. It will be an open-label, single arm study, and the last patient is expected to finish the trial before the end of 2019.
TB-403 is a humanised antibody directed against the PlGF protein, which is believed to inhibit its signaling via the Nrp-1 receptor. PlGF is expressed in certain pediatric cancers including medulloblastoma, Ewing's sarcoma, neuroblastoma and alveolar rhabdomyosarcoma.
TB-403 is currently in a Phase I/II study for the treatment of patients with medulloblastoma in cooperation with a US based pediatric oncology network, Beat Childhood Cancer. The study progresses according to plan, and the third dose level is ongoing.
TB-403 has received Orphan Drug Designation for medulloblastoma from the European Medicines Agency.
TB-403 is being developed in collaboration with Oncurious, a subsidiary of ThromboGenics. In July 2017, BioInvent's ownership in TB-403 increased from 40 to 50 percent following renegotiation of the longstanding collaboration agreement signed in 2004. BioInvent continues to contribute 50 percent of the development costs.
THR-317 is being evaluated in a Phase II trial in patients with diabetic macular edema (DME). In July 2017 the cooperation agreement from 2004 was renegotiated. Under the amended arrangement, ThromboGenics gains full and exclusive ownership of THR-317 for development and commercialization in all non-oncology indications. ThromboGenics will continue to carry all costs for the development of THR-317 in non-oncology indications, and BioInvent is entitled to five percent of the project's economic value.
BioInvent's preclinical research is focused on developing novel immuno-modulatory antibodies for cancer therapy. Such antibodies may act to significantly improve efficacy of currently available checkpoint inhibitor therapies and/or activate anti-cancer immunity in currently non-responding patients and cancer types.
BioInvent is developing antibodies to overcome the effects of two key cells that suppress the immune system in the tumour micro-environment. These are:
Tregs can substantially inhibit various immune responses, enabling tumour cells to escape detection. BioInvent is utilizing its F.I.R.S.T.™ platform to identify and characterize monoclonal antibodies to cancer-associated Treg targets in a function-first, target agnostic, manner. The company is also pursuing differentiated antibodies to known targets through novel mechanisms and pathways.
In December 2016, BioInvent announced that it has entered into a cancer immunotherapy research collaboration and license agreement with Pfizer Inc. to develop antibodies targeting tumour-associated myeloid cells. BioInvent leverages its expertise to identify novel oncology targets and therapeutic antibodies that inhibit cancer growth either by reversing the immunosuppressive activity of tumourassociated myeloid cells or by reducing the number of tumour-associated myeloid cells in the tumour. The collaboration is progressing well – a pool of antibodies has been generated, that will now be characterized for functional activity.
Under the terms of the agreement BioInvent could be eligible for potential future development milestones in excess of \$0.5 billion (assuming five antibodies are developed through to commercialisation). The company could also receive up to double digit royalties related to product sales. In return Pfizer will have the right to develop and commercialise any antibodies generated from this agreement.
BioInvent received an upfront payment of \$3 million when the agreement was signed in December 2016, and \$1 million in research funding has been received during 2017. Pfizer also made a \$6 million equity investment in new shares of BioInvent when the agreement was signed.
BioInvent and Transgene collaborate to co-develop oncolytic virus (OV) candidates encoding a validated anti-CTLA-4 antibody sequence - potentially with additional transgenes - capable of treating multiple solid tumours.
Transgene is contributing both its OV design and engineering expertise, as well as its proprietary Vaccinia viruses. These oncolytic viruses are designed to directly and selectively destroy cancer cells by intracellular replication of the virus in the cancer cell (oncolysis). Oncolysis is important as it induces an immune response against tumours. In addition, the replication of the virus allows the expression of the genes carried by the oncolytic viral genome, including therapeutic "weapons" e.g. an immune modulatory anti-CTLA-4 antibody that boost immune responses against the tumor.
BioInvent is providing its cancer biology and antibody expertise to the collaboration, as well as anti-CTLA-4 antibody sequences generated through its proprietary n-CoDeR® /F.I.R.S.T. TM platforms. A lead anti-CTLA-4 antibody will be selected for encoding within the viral vectors. The local expression of such therapeutic antibodies delivered into the cancer cell is expected to augment the anti-cancer effects of viral oncolysis, by efficiently modulating the tumour micro-environment and increasing the immunogenicity of the tumour.
The research and development costs, as well as revenues and royalties from candidates generated from the collaboration, will be shared 50:50.
Encoding BioInvent's anti-CTLA-4 antibody sequence in Transgene's vaccinia virus backbone promises to optimize the efficacy of this potent checkpoint inhibitor, while reducing the side effects seen when it is given systemically. There is also the potential for this novel OV product to be significantly more effective than the combination of single agents. Transgene has generated preclinical proof-of-concept data showing that an oncolytic vaccinia virus encoded with a checkpoint inhibitor resulted in better overall survival than the corresponding combination of separate single agents.
The Company currently has several antibody manufacturing agreements with major pharma and biotech companies. Given its production capacity and expertise, BioInvent is actively seeking to secure more manufacturing contracts to generate further revenue.
The Company has also several licensing agreements and, in some cases, research collaborations with several external partners including Bayer Pharma, Daiichi Sankyo, Mitsubishi Tanabe Pharma and Xoma. The structure and terms of these agreements and partnerships vary, but they all have in common that BioInvent receives license fees, research financing, milestone payments and royalties on the sale of commercial products. Of these external drug development programs, five projects are currently in Phase I and one is in the preclinical phase.
Net sales amounted to SEK 14 million (31). Revenues for the period are derived from production of antibodies for clinical studies and revenues from research funding. Revenues in the fourth quarter 2016 were derived from an upfront payment of USD 3 million in December 2016 from the research collaboration and license agreement with Pfizer and as well production of antibodies for clinical studies.
The Company's total costs amounted to SEK 50 million (38). Operating costs are divided between external costs of SEK 28 million (22), personnel costs of SEK 21 million (16) and depreciation of SEK 1.1 million (0.5). Personnel costs include a provision of SEK 3.0 million for dismissal and severance payments to the former CEO. Research and development costs amounted to SEK 37 million (26).
Profit/loss after tax amounted to SEK -33 million (-7.3). The net financial items amounted to SEK 0.0 million (0.0). Earnings per share before and after dilution amounted to SEK -0.11 (-0.03).
Net sales amounted to SEK 45 million (71). Revenues for the period are derived from production of antibodies for clinical studies, revenues from research funding, and a €0.5 million milestone payment received in April 2017 under the collaboration with Mitsubishi Tanabe Pharma in connection with the approval of starting a Phase I study. Revenues in 2016 were derived from an upfront payment of USD 3 million in December 2016 from the research collaboration and license agreement with Pfizer and as well as production of antibodies for clinical studies and from partners developing therapeutic antibodies from the n-CoDeR® antibody library. BioInvent announced in February 2016 that a EUR 2 million milestone payment had been received under the collaboration with Daiichi Sankyo pertaining to the progression of a Phase I clinical trial.
The Company's total costs amounted to SEK 149 million (135). Operating costs are divided between external costs of SEK 87 million (82), personnel costs of SEK 59 million (52) and depreciation of SEK 2.9 million (1.0). Personnel costs include a provision of SEK 3.0 million for dismissal and severance payments to the former CEO. Research and development costs amounted to SEK 110 million (99).
Profit/loss after tax amounted to SEK -101 million (-63). The net financial items amounted to SEK 0.1 million (0.3). Earnings per share before and after dilution amounted to SEK -0.33 (-0.25).
As of 31 December 2017, the Group's liquid funds amounted to SEK 134 million (226). The cash flow from operating activities and investment activities for the January - December period amounted to SEK -92 million (-77).
The shareholders' equity amounted to SEK 130 million (230) at the end of the period. The Company's share capital at the end of the period was SEK 24 million. The equity/assets ratio at the end of the period was 77 (83) per cent. Shareholders' equity per share amounted to SEK 0.43 (0.76). The Group had no interest-bearing liabilities.
Investments for the January - December period in tangible fixed assets amounted to SEK 16 million (5.3).
All operations of the Group are conducted by the Parent Company. The Group's and the Parent Company's financial statements coincide in every material way.
As of 31 December 2017, BioInvent had 56 (51) employees. 49 (45) of these work in research and development.
The 2013 Annual General Meeting voted in favour of establishing a new, long-term employee incentive programme involving the allotment of a maximum of 900,000 employee options free of charge to all Group employees. Under the programme 225,513 employee options have been allotted. The last date to exercise was 1 December, 2017. No employee stock options were called for redemption.
The 2016 Annual General Meeting resolved to adopt an incentive programme for the company's employees in the form of a subscription warrants programme. Under the programme 957,571 subscription warrants have been transferred with a maximum dilution effect of approximately 0.3 percent. The programme includes all employees except the CEO and other senior executives comprised by the retention bonus programme implemented in 2015.
The 2017 Annual General Meeting resolved to adopt a Board share program for the members of the Board, whereby the members of the Board who wish to participate in the program are allocated 45 per cent of the basic fee for the Board assignment in the form of shares in BioInvent to a number that at the time of allocation in terms of value is equivalent to 45 per cent of the fee. The resolution includes a directed issue of a maximum of 900,000 warrants (corresponding to approximately 0.3 per cent of the total number of shares and votes in the company) and approval of transfer or warrants in order to secure the fulfilment of the company's obligations under the program. Subscription of shares by virtue of the warrants shall be made no later than 30 July 2018 and the subscription price per share shall amount to the share's quota value (presently SEK 0.08).
The 2017 Annual General Meeting resolved to adopt a long-term incentive program in the form of an option program comprising management and other key persons, entailing a directed issue of maximum of 7,117,000 warrants (corresponding to approximately 2.3 per cent of the total number of shares and votes in the company) and approval of transfer of warrants to secure the fulfilment of the company's obligations under the program and social security charges. The program means that the participants may be allotted a maximum of 5,650,000 warrants depending on performance and the company's long-term value growth. Each option entitles the holder to subscribe for one new share in BioInvent during the period from the day of release of the company's year-end report for the financial year 2019 up to and including 15 December 2020. The subscription price per share shall be SEK 3.00. The program has been implemented in the third quarter and includes currently 10 persons. Allotment of 591,759 options took place in January 2018.
More information is available at www.bioinvent.se (Investors / Corporate Governance / Incentive Programme)
For description of benefits to senior executives, see page 41 in the company's annual report 2016. The Company has, in accordance with the decision of the Annual General Meeting 2015 decided to implement a retention bonus programme which for a three-year period may amount to a maximum of 100 per cent of the fixed salary for a year. Otherwise there are no transactions with related parties, in accordance with IAS 24, to report.
The Company's operations are associated with risks related to factors such as pharmaceutical development, clinical trials and product responsibility, commercialisation and partners, competition and fast technological development, biotechnology and patent risk, compensation for pharmaceutical sales, qualified personnel and key individuals, additional financing requirements, currency risk and interest risk. The risks summarize the factors of significance for BioInvent and thus an investment in the BioInvent share.
No significant changes to the risks and uncertainty factors occurred during the period. For a more detailed description of risk factors, see section "Risks and Risk Management", page 26, in the company's annual report 2016.
This interim report in brief for the Group has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable parts of the Annual Accounts Act. The interim report of the Parent Company has been prepared in accordance with Chapter 9 of the Annual Accounts Act. For the Group and the Parent Company, the same accounting policies and accounting estimates and assumptions were applied to this interim report as were used in the preparation of the most recent annual report.
Changes in IFRS standards entered into force in 2017 has had no material impact on the financial statements. The financial statements of the Parent company coincide in every material way with the consolidated financial statements.
Changes in IFRS standards that enter into force in 2018, IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments, are not expected to have any material effect on the consolidated financial statements.
The definition of alternative performance measures not defined by IFRS is unchanged from those presented in the most recent annual report.
The Annual General Meeting will be held on Tuesday 24 April 2018 at 4 p.m., Elite Hotel Ideon, Scheelevägen 27, Lund. Notice to attend will be announced in the Swedish press in Post- och Inrikes Tidningar and on the Company's website.
Shareholders wishing to attend the AGM must be registered in the shareholders' register kept by the Swedish Securities Register Centre (Euroclear) Wednesday 18 April 2018 and must inform BioInvent of their intention to attend no later than on Wednesday 18 April 2018, preferably before 4 p.m. by sending a letter to: Sölvegatan 41, SE-223 70 Lund, attn: Stefan Ericsson, or by phone +46 (0)46 286 85 50, or by e-mail to [email protected].
In order to participate in the AGM, shareholders with nomineeregistered shares must request that their shares be temporarily owner-registered in the Euroclear shareholders' register. Such registration must be completed no later than Wednesday 18 April 2018 and the nominee must be informed of this well in advance of this date.
Shareholders must include their name, personal/company registration number, shareholding, telephone number and the name of any assistants that will be attending. Proxy to act on behalf of a shareholder shall be sent together with the notice of attendance. Representative of a legal person shall hand in a copy of a registration certificate or similar papers of authorisation. The company will supply proxy forms upon request from a shareholder.
The Board of Directors and the CEO do not propose the payment of any dividend for the 2017 business year.
BioInvent will present the following financial reports:
| 3 MONTHS 2017 Oct.-Dec. |
3 MONTHS 2016 Oct.-Dec. |
12 MONTHS 2017 Jan.-Dec. |
12 MONTHS 2016 Jan.-Dec. |
|
|---|---|---|---|---|
| Net sales | 13,536 | 30,789 | 45,014 | 71,284 |
| Operating costs Research and development costs Sales and administrative costs Other operating revenues and costs |
-37,471 -12,354 2,973 -46,852 |
-26,186 -12,005 74 -38,117 |
-109,723 -39,263 3,340 -145,646 |
-99,477 -35,715 1,049 -134,143 |
| Operating profit/loss | -33,316 | -7,328 | -100,632 | -62,859 |
| Profit/loss from financial investments | 26 | 44 | 104 | 272 |
| Profit/loss before tax | -33,290 | -7,284 | -100,528 | -62,587 |
| Tax | - | - | - | - |
| Profit/loss | -33,290 | -7,284 | -100,528 | -62,587 |
| Other comprehensive income Items that have been or may be reclassified subsequently to profit or loss |
- | - | - | - |
| Comprehensive income | -33,290 | -7,284 | -100,528 | -62,587 |
| Other comprehensive income attributable to parent company's shareholders |
-33,290 | -7,284 | -100,528 | -62,587 |
| Earnings per share, SEK Before dilution After dilution |
-0.11 -0.11 |
-0.03 -0.03 |
-0.33 -0.33 |
-0.25 -0.25 |
| 2017 | 2016 | |
|---|---|---|
| 31 dec. | 31 dec. | |
| Assets | ||
| Fixed assets Intangible fixed assets |
0 | 0 |
| Tangible fixed assets | 19,246 | 5,648 |
| Total fixed assets | 19,246 | 5,648 |
| Current assets | ||
| Inventories | 2,386 | 1,918 |
| Current receivables | 14,655 | 42,618 |
| Liquid funds | 133,760 | 226,114 |
| Total current assets | 150,801 | 270,650 |
| Total assets | 170,047 | 276,298 |
| Shareholders' equity and liabilities | ||
| Shareholders' equity | 130,225 | 230,437 |
| Current liabilities | 39,822 | 45,861 |
| Shareholders' equity and liabilities | 170,047 | 276,298 |
| 2017 Oct.-Dec. |
2016 Oct.-Dec. |
2017 Jan.-Dec. |
2016 Jan.-Dec. |
|
|---|---|---|---|---|
| Shareholders' equity at beginning of period | 163,391 | 184,183 | 230,437 | 29,454 |
| Comprehensive income | ||||
| Profit/loss | -33,290 | -7,284 | -100,528 | -62,587 |
| Comprehensive other income | - | - | - | - |
| Total comprehensive income Total, excluding transactions with equity |
-33,290 | -7,284 | -100,528 | -62,587 |
| holders of the Company | 130,101 | 176,899 | 129,909 | -33,133 |
| Transactions with equity holders of the | ||||
| Company | ||||
| Employee options programme | 124 | 46 | 316 | 58 |
| Transfer of subscription warrants | 108 | 587 | ||
| Rights issue and directed new share issue | 209,541 | |||
| Rights issue | 53,384 | 53,384 | ||
| Shareholders' equity at end of period | 130,225 | 230,437 | 130,225 | 230,437 |
The share capital as of 31 December 2017 consists of 304,695,213 shares and the share's ratio value is 0.08. The rights issue and the directed new share issue carried out in April 2016 raised SEK 209,541 thousand after issue expenses of SEK 24,074 thousand. The directed new share issue carried out in December 2016 raised SEK 53,384 thousand after issue expenses of SEK 2,868 thousand.
| 2017 | 2016 | 2017 | 2016 | |
|---|---|---|---|---|
| Oct.-Dec. | Oct.-Dec. | Jan.-Dec. | Jan.-Dec. | |
| Operating activities | ||||
| Operating profit/loss | -33,316 | -7,328 | -100,632 | -62,859 |
| Depreciation | 1,149 | 481 | 2,880 | 996 |
| Adjustment for other non-cash items | 124 | 46 | 316 | 58 |
| Interest received and paid | 67 | 12 | 102 | 34 |
| Cash flow from operating activities | ||||
| before changes in working capital | -31,976 | -6,789 | -97,334 | -61,771 |
| Changes in working capital | 9,648 | -16,120 | 21,458 | -10,278 |
| Cash flow from operating activities | -22,328 | -22,909 | -75,876 | -72,049 |
| Investment activities | ||||
| Acquisition of tangible fixed assets | -6,463 | -887 | -16,478 | -5,322 |
| Cash flow from investment activities | -6,463 | -887 | -16,478 | -5,322 |
| Cash flow from operating activities and | ||||
| investment activities | -28,791 | -23,796 | -92,354 | -77,371 |
| Financing activities | ||||
| Transfer of subscription warrants | 108 | 587 | ||
| Rights issue and directed new share issue | 209,541 | |||
| Directed new share issue | 53,384 | 53,384 | ||
| Cash flow from financing activities | - | 53,492 | - | 263,512 |
| Change in liquid funds | -28,791 | 29,696 | -92,354 | 186,141 |
| Opening liquid funds | 162,551 | 196,418 | 226,114 | 39,973 |
| Liquid funds at end of period | 133,760 | 226,114 | 133,760 | 226,114 |
| Liquid funds, specification: | ||||
| Current investments | 30,060 | - | 30,060 | - |
| Cash and bank | 103,700 | 226,114 | 103,700 | 226,114 |
| 133,760 | 226,114 | 133,760 | 226,114 |
| 2017 31 dec. |
2016 31 dec. |
|
|---|---|---|
| Shareholders' equity per share at end of period, SEK Number of shares at end of period (thousand) |
0.43 304,695 |
0.76 304,695 |
| Equity/assets ratio, % | 76.6 | 83.4 |
| Number of employees at end of period | 56 | 51 |
| 3 MONTHS | 3 MONTHS | 12 MONTHS | 12 MONTHS | |
|---|---|---|---|---|
| 2017 Oct.-Dec. |
2016 Oct.-Dec. |
2017 Jan.-Dec. |
2016 Jan.-Dec. |
|
| Net sales | 13,536 | 30,789 | 45,014 | 71,284 |
| Operating costs Research and development costs Sales and administrative costs Other operating revenues and costs |
-37,471 -12,354 2,973 -46,852 |
-26,186 -12,005 74 -38,117 |
-109,723 -39,263 3,340 -145,646 |
-99,477 -35,715 1,049 -134,143 |
| Operating profit/loss | -33,316 | -7,328 | -100,632 | -62,859 |
| Profit/loss from financial investments | 26 | 44 | 104 | 272 |
| Profit/loss after financial items | -33,290 | -7,284 | -100,528 | -62,587 |
| Tax | - | - | - | - |
| Profit/loss | -33,290 | -7,284 | -100,528 | -62,587 |
| Other comprehensive income | - | - | - | - |
| Comprehensive income | -33,290 | -7,284 | -100,528 | -62,587 |
| 2017 | 2016 | |
|---|---|---|
| 31 Dec. | 31 Dec. | |
| Assets | ||
| Fixed assets | ||
| Intangible fixed assets | 0 | 0 |
| Tangible fixed assets | 19,246 | 5,648 |
| Financial fixed assets | 687 | 687 |
| Total fixed assets | 19,933 | 6,335 |
| Current assets | ||
| Inventories | 2,386 | 1,918 |
| Current receivables | 14,655 | 42,618 |
| Current investments | 30,060 | - |
| Cash and bank | 103,700 | 226,114 |
| Total current assets | 150,801 | 270,650 |
| Total assets | 170,734 | 276,985 |
| Shareholders' equity and liabilities | ||
| Shareholders' equity | ||
| Restricted equity | 52,069 | 52,069 |
| Non-restricted equitys | 78,194 | 178,406 |
| Total shareholders' equity | 130,263 | 230,475 |
| Liabilities | ||
| Current liabilities | 40,471 | 46,510 |
| Total shareholders' equity and liabilities | 170,734 | 276,985 |
Lund, 30 January 2018, The Board of Directors
This report has not been reviewed by the company's auditors.
BioInvent International AB (publ) Co. reg. no. 556537-7263 Address: Sölvegatan 41, 223 70 Lund Tel.: +46 (0)46 286 85 50 [email protected]
This financial statement contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual out-come may deviate significantly from the scenarios described in this press release.
This information is information that BioInvent International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 a.m. CET, on 30 January, 2018.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.