Interim Report Q2, 2018

Successful capital raise and listing on Nasdaq Stockholm

“In June, we successfully raised SEK 650m in conjunction with our listing on Nasdaq Stockholm to secure the funding necessary to initiate our pivotal Phase 3 study of our lead project Nefecon, for the treatment of the severe and under-treated disease IgA nephropathy (IgAN). We have worked diligently to prepare for the study, and we are now in a good position to launch it.”

Summary of Q2

April 1 – June 30, 2018

  • Net sales for the period was SEK – (-) million.
  • Net income (loss) for the period was SEK -18.2 (-16.1) million.
  • Earnings and diluted earnings per share was SEK -1.08 (-1.10).
  • At June 30, 2018, cash and cash equivalents amounted to SEK 17.0 (35.7) million.

Significant events during the period April 1 – June 30, 2018 in summary

  • Calliditas Therapeutics was listed on Nasdaq Stockholm on June 29 in the Mid Cap segment and shares worth a value of SEK 650 million were subscribed for.
  • In connection with the listing, outstanding bridge loans of SEK 95.2 million were converted, including accrued interest, to new shares.
  • During the second quarter, 2018, the Company filed a new patent application. The application covers method of use for treatment of autoimmune diseases.

Significant events after the end of reporting period

  • The liquidity from the rights issue of 650 MSEK, before deduction of issue costs, in connection with the listing was received in early July.
  • In July, the over-allotment option issued in connection with the listing was utilized, which resulted in the Company receiving an additional SEK 88.7 million, before deduction of issue costs.

Key figures

Apr-Jun Jan-Jun Jan-Dec
Amounts in SEK 000s 2018 2017 2018 2017 2017
Expenses relating to research and development (10,000) (9,517) (41,531) (16,756) (51,686)
Expenses relating to research and development/operating expenses, % 54% 62% 73% 63% 61%
Operating profit (loss) (18,207) (15,487) (56,464) (26,496) (84,509)
Earnings per share before and after dilution, SEK (1.08) (1.10) (3.37) (1.99) (5.81)
Total registered shares at the end of period 33,232,347 14,775,000 33,232,347 14,775,000 16,673,000
Equity at the end of the period 7,332 (10,066) 7,332 (10,066) 33,176
Equity ratio at the end of the period % 11% neg 11% neg 53%
Cash and cash equivalents at the end of the period 17,023 35,670 17,023 57,352 57,352

Investor presentation August 16, 10:00 CEST

Audio cast with teleconference, Q2, 2018, August 16, 2018, 10:00 (Europe/Stockholm)

Webcast: https://tv.streamfabriken.com/calliditas-therapeutics-q2-2018

Teleconference: Dial-in number UK: +442030089811 SE: +46850556453

Financial calendar

  • Interim report for the period 1 January – 30 September 2018, 1 November 2018
  • Year-end report for the period 1 January – 31 December 2018, 7 February 2019

For further information, please contact:

The information in the press release is such that Calliditas Therapeutics AB (publ) is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CEST on August 16, 2018.

About Calliditas Therapeutics

Calliditas Therapeutics is a specialty pharmaceutical company based in Stockholm, Sweden, focused on developing high quality pharmaceutical products for patients with a significant unmet medical need in niche indications, in which the Company can partially or completely participate in the commercialization efforts. The Company is focused on the development and commercialization of the product candidate Nefecon, a unique formulation optimized to combine a time lag effect with a concentrated release of the active substance budesonide, within a designated target area. This patented, locally acting formulation is intended for treatment of patients with the inflammatory renal disease IgA nephropathy. Calliditas Therapeutics aims to take Nefecon through a global Phase 3 study to commercialization. Visit www.calliditas.com for further information.