BioArctic AB (STO:BIOAB), a research based biopharmaceutical company, on Tuesday reported profit of SEK15.2m, or EPS of SEK0.22, from January 2017 to December 2017.

This was a decline over profit of SEK57.6m, or EPS of SEK0.91, in 2016.

Net sales for the year amounted to SEK140.7m, as compared with SEK105.6m in 2016.

Also, the company's board of directors has proposed that that no dividend is paid for the financial year 2017.

BioArctic is focussed on disease modifying treatments and diagnostics for neurodegenerative diseases, such as Alzheimer's disease and Parkinson's disease. The company is also developing a treatment for complete spinal cord injury.

(EUR1.00=SEK9.99)