Business highlights in Q2 2022
- On April 5th the Company announced that it has signed an option agreement for a Phase 2/3 ready drug asset for an undisclosed pain indication.
- On April 13th the Board of Directors proposed a directed share issue and fully guaranteed rights issue of a total of approximately SEKM 61 to finance its clinical programs into the beginning of 2024. The directed share issue was approved by an EGM held on May 18th and on May 31st the board decided to execute the fully guaranteed rights issue.
- On May 23rd the Company announced positive efficacy outcome of the IPTN2021 program Phase 1 study to assess pain-reducing effects.
- On June 22nd the Company announced issuance of shares, share buyback and sale of shares in connection with long term incentive program for 2021
Business highlights after this reporting period
- On July 5th the Company announced the outcome of the fully guaranteeed rights issue of SEKM 41. Approximately 42.3% of the share issue was subscribed for, with the rest covered by underwriting commitments.
- On July 5th the Company announced that it had carried out a directed share issue of SEKM 2.5 at a share price of SEK 7.50 to a strategic advisor to the company.
- On July 22nd the Company announced that it had completed a share buy back program of 24,000 shares in connection with the long-term incentive program LTI2021
Financial Highlights
| Second Quarter (2022-04-01 – 2022-06-30) |
| Net revenue were TDKK 0 (0) |
| Operating loss, EBIT was TDKK -13,499 (-4,944) |
| Earnings per share was DKK –0.29 (-0.15) |
| Earnings per share, fully diluted, was DKK –0.26 (-0.14) |
| Cash: TDKK 29,468 (31,099) |
| Solidity: 52% (89%) |
| First Six Months (2022-01-01 – 2022-06-30) |
| Net revenues were TDKK 0 (0) |
| Operating loss, EBIT was TDKK -28,574 (-6,736) |
| Earnings per share was DKK –0.62 (-0.20) |
| Earnings per share, fully diluted, was DKK –0.55 (-0.19) |
Solidity: equity divided by assets.
The Board of Directors have decided that interim reports will be published in English only.
Link to the full report
https://www.initiatorpharma.com/en/investors/reports-and-presentations/