Business & Finance
NeuroVive Pharmaceutical slightly reduces loss in 2017
21 February 2018 -

Mitochondrial medicine company NeuroVive Pharmaceutical AB (STO:NVP) on Tuesday reported loss before tax of SEK71,603,000, or SEK1.33 per diluted share, for the full-year 2017, from January 2017 to December 2017.

This was a slight improvement over loss before tax of SEK71,845,000, or SEK1.67 per diluted share, in 2016.

Net revenues for the year were SEK27,000, as compared with SEK14,000 in 2016. Operating income for the year was SEK558,000, as compared with SEK104,000, in 2016.

Also, the company's board of directors has resolved, subject to approval by the Extraordinary General Meeting, to issue shares and warrants with preferential rights for existing shareholders. Upon full subscription to the rights issue, NeuroVive will receive approximately SEK78.5m before issuance costs. In full exercise of the warrants issued in the rights issue, NeuroVive will receive an additional SEK37.3m, before issuance costs.

NeuroVive Pharmaceutical has one project in clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT) and one project in clinical phase I (KL1333) for genetic mitochondrial diseases.