Biotechnology company Active Biotech AB (STO:ACTI) on Thursday reported loss after tax of SEK108.8m, or SEK1.12 per share, for 2017, from January 2017 to December 2017.

This was a decline over loss after tax of SEK59.6m, or SEK0.65 per share, in 2016. Reportedly, loss for 2017 includes write down of property of SEK50m.

Net sales for the year were SEK20.2m, as compared with SEK19.0m in 2016.

The board of directors has proposed a new share issue of approximately SEK48m, with pre-emptive rights for the shareholders

In connection with the new share issue, the company has received a permanent waiver from its commitment to the bank that finances the company's property in Lund that the company's liquidity should never fall below MSEK30m.

Active Biotech clarified that it again has funding for the coming 12 month period.

Active Biotech focuses on research and development of pharmaceuticals and vaccines. The company is developing products designed to treat a variety of diseases including multiple sclerosis, lung, renal and pancreatic cancer.

(EUR1.00=SEK9.92)