Business & Finance
Saniona swings to loss in 2017
22 February 2018 -

Saniona AB (STO: SANION) on Wednesday reported net loss of SEK49.2m, or SEK2.30 per diluted share, For the year 2017, from January 2017 to December 2017.

This was a decline over a net profit of SEK2.2m, or diluted EPS of SEK0.11, in 2016.

Net revenues for the year were SEK20.7m, as compared with SEK74.9m in 2016.

The company added that it achieved encouraging and insightful results in its phase 2 study in adult patients with Prader-Willi syndrome in 2017 with its lead candidate, Tesomet. These results support further study of Tesomet in Prader-Willi syndrome.

Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and treatment of pain.

Also, Saniona has ongoing collaboration agreements with Boehringer Ingelheim GmbH, Proximagen Ltd, Productos Medix S.A de S.V and Cadent Therapeutics Inc.