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April 24th, 2019 10:24

Immunovia Interim Report, January-March 2019

During the first quarter of 2019, we remained focused on our product launch strategy and continued to create value, as we reached several key objectives and took several steps towards the commercialization of IMMray™ PanCan-d, our diagnostic test for early detection of pancreatic cancer.

Another key objective that we reached in the first quarter was the addition of new participants to our PanFAM-1 study, a multicenter prospective validation study for early diagnosis of people with a high risk of hereditary pancreatic cancer. In Q1 2019 we added two additional centers, one in Sweden and one in Spain. Umeå University Hospital in Sweden and Catalan Institute of Oncology (ICO Hospitalet) – Bellvitge Biomedical Research Institute (IDIBELL) in Barcelona are now part of PanFAM-1 study.

We also took an extremely important step towards on the optimization of the algorithm during Q1. We announced in March that using blood samples that are as fresh as possible, i.e. stored for less than 24 months, increases the test performance and provides optimal results. We were able to attain the relevant samples through our large and growing network of clinical Key Opinion Leaders (KOL). It is imperative to note that we needed samples that best mirror the blood samples that will be used with our final product, finding these fresh samples and gaining access to them is quite difficult and takes time.

With the appointment of Julie Silber as Senior Investor Relations Director early this year we actualized a strategic objective in strengthening the IR role and our shareholder communication capabilities at Immunovia.

We continued to work intensely during the first quarter of 2019 on the preparations for our sales launch targeted for the beginning of 2020.

Excerpt from the CEO Mats Grahn’s comment on the report.

Key Indicators

Key Indicators (SEK thousand unless otherwise stated) Jan-Mar 2019 Jan-Mar 2018 Full year 2018 Full year 2017
Net Sales 66 112 333 149
Operating earnings -27,197 -17,377 -87,708 -45,520
Earnings before tax -26,381 -17,326 -86,531 -45,323
Net earnings -26,384 -17,326 -86,536 -45,232
Earnings per share before and after dilution (SEK/share) -1.35 -1.00 -4.67 -2.67
Equity ratio, % 89 94 97 94
No. of shares at the end of the period 19,531,353 17,318,059 19,531,353 17,318,059

This financial statement has been produced in accordance with IFRS for the Immunovia Group, which comprises Immunovia AB and the wholly-owned subsidiaries Immunovia Incentive AB, Immunovia Inc. and Immunovia GmbH.

Outlook
Immunovia is focused on fundamentally transforming diagnosis of complex forms of cancer and autoimmune diseases. The antibody-based platform, IMMray™, is the result of 15 years of research at CREATE Health – the Center for Translational Cancer Research at Lund University, Sweden. IMMray™ is a technology platform for the development of diagnostic tests and the company’s primary test, IMMray™ PanCan–d, is the first test in the world for early diagnosis of pancreatic cancer.

The Company reiterates it’s financial targets in accordance with what has previously been disclosed. The company anticipates the first revenues from self pay sales in early 2020.The following financial targets have been established:

  • Immunovia’s target is to achieve turnover of SEK 250-300 million by 2022 based on self-pay for IMMray™ PanCan–d.
  • Immunovia’s target is to achieve total turnover, including payment via self-pay and cost remuneration from insurance systems, of SEK 800-1,000 million by 2024.

Immunovia invites to a teleconference (in English) for investors, analysts and media on Monday April 29, at 3:00 – 4:00 p.m. CET. 

Mats Grahn, CEO will present Immunovia and comment on the interim report for the period January-March 2019, give an update from the Annual General Meeting on April 26, followed by a Q&A session. Please call in a few minutes in advance.

To attend, please dial-in at one of the numbers below:

BE: +3226200547 
DK: +4578150110 
FR: +33170750775
DE: +496913803452 
NO: +4723500236 
SE: +46856642695 
CH: +41225675632 
NL: +31207219495 
UK: +443333009274 
US: +18335268383

For questions or interview bookings:
ir@immunovia.com 

There will be an MP3-file available at Immunovia’s webpage under Investors/Financial Reports (http://immunovia.com/investors/financial-reports/) for those who want to listen to the telephone conference afterwards. The file will be available within two hours after the conference has ended.

For more information, please contact:
Julie Silber
Director of Investor Relations, Immunovia
Email: julie.silber@immunovia.com
Tel: +46 7 93 486 277

About Immunovia
Immunovia AB was founded in 2007 by investigators from the Department of Immunotechnology at Lund University and CREATE Health, the Center for Translational Cancer Research in Lund, Sweden. Immunovia’s strategy is to decipher the wealth of information in blood and translate it into clinically useful tools to diagnose complex diseases such as cancer, earlier and more accurately than previously possible. Immunovia´s core technology platform, IMMray™, is based on antibody biomarker microarray analysis. The company is now performing clinical validation studies for the commercialization of IMMray™ PanCan-d that could be the first blood based test for early diagnosis of pancreatic cancer. In the beginning of 2016, the company started a program focused on autoimmune diseases diagnosis, prognosis and therapy monitoring. (Source: www.immunovia.com)

This information is information that Immunovia AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above.

Immunovia’s shares (IMMNOV) are listed on Nasdaq Stockholm. For more information, please visit www.immunovia.com.

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