Active Biotech reported a slight reduction in operating loss for the fourth quarter of 2022, emphasizing advancements in the clinical development of tasquinimod and laquinimod. The company's strategic focus remains on establishing clinical positions for these wholly-owned projects in hematological cancers and inflammatory eye diseases.
CEO Helén Tuvesson noted significant progress in both projects throughout 2022. While the company reported no sales for the quarter, the operating loss decreased to SEK -15.2 million (compared to SEK -16.1 million in Q4 2021). The loss after tax was SEK -15.0 million (SEK -16.2 million in Q4 2021), with earnings per share at SEK -0.06 (SEK -0.07 in Q4 2021).
Financial Position
Active Biotech's cash and cash equivalents amounted to SEK 41.8 million (SEK 53.1 million in Q4 2021). According to Tuvesson, this financial position is established to fulfill planned clinical milestones. The company anticipates an exciting 2023, driven by a continued strong clinical focus in its projects.
Active Biotech, SEKm
| | Q4-2022 | Q4-2021 |
| ----------- | ------- | ------- |
| Net sales | 0.0 | 0.0 |
| Operating profit | -15.2 | -16.1 |
| Net profit | -15.0 | -16.2 |
| Earnings per share, SEK | -0.06 | -0.07 |
| Cash and cash equivalents | 41.8 | 53.1 |
Strategic Outlook
Active Biotech is prioritizing the clinical development of tasquinimod for hematological cancers and laquinimod for inflammatory eye diseases. The company's leadership expresses confidence in achieving planned clinical milestones, supported by its current financial standing.
