LIDDS AB (publ) Year-end Report 2024

Regulatory

October – December

  • Net sales amounted to 0 MSEK
  • The operating result for the period was -1.1 MSEK
  • The net result was -1.0 MSEK corresponding to earnings per share of SEK -0.01
  • Cash flow from operating activities amounted to -1.0 MSEK
  • Cash and cash equivalents amounted to 5.5 MSEK

January – December

  • Net sales amounted to 0 MSEK
  • The operating result for the period was -4.5 MSEK
  • The net result was -4.3 MSEK corresponding to earnings per share of SEK -0.04
  • Cash flow from operating activities amounted to -5.4 MSEK

Significant events 2024

  • On the Extraordinary General Meeting of shareholders on the 9 January 2024 Daniel Lifveredson, Torbjörn Browall and Lars-Inge Sjöqvist were elected new members of the Board.
  • In January it was announced that an agreement to acquire Noviga Research AB had been signed.
  • In May, Mats Wiking was appointed new CEO from 1 September 2024.

CEO Statement

In accordance with previous decisions, LIDDS has continued to realize the cost savings which has been possible to implement without affecting the underlying assets that the company has.

The goal for the fourth quarter was to try to get some form of financing or other solution for one or more of the three clinical projects that we are focusing on. LIDDS has not yet been able to achieve any success in these discussions with external parties.

In order for LIDDS to be able to carry out clinical projects under its own management (where Nanodotax and Nanoimod are almost ready), significant capital contributions are required. For Noviga, capital is also required to be able to carry out a tox study, which would probably take LIDDS to a higher valuation. Even though the financial markets have started to show improvement, LIDDS continues to assess that it is not in the best interest for the shareholders to try to raise capital thru the market, considering the company’s current valuation.

The current focus is to find external party/parties that can realize and execute the above-mentioned projects, and we are actively working to find such a solution for one or more of the projects.

With LIDDS current cash and cost structure, the company believes that we have the endurance to find the best possible arrangement for its shareholders.

Mats Wiking
CEO and CFO

The interim report is available on the company’s website https://liddspharma.com/sv/investerare/finansiella-rapporter/

For additional information, please contact

Mats Wiking, CEO and CFO
Phone: +46 (0)70 620 04 00
E-mail: mats.wiking@liddspharma.com

LIDDS’ Certified Adviser is Redeye AB

LIDDS in brief:

LIDDS is a Swedish pharmaceutical company focused on the development of oncology drugs. LIDDS has a proprietary drug delivery technology, NanoZolid®, on which several projects are based. With NanoZolid, LIDDS can formulate drugs for local/intratumoral administration, with a maintained and controlled release and with minimal negative side-effects. In addition to these projects, LIDDS develops proprietary drug candidate NOV202 that have shown very good results in pre-clinical studies. The company is listed on Nasdaq First North Growth market.

Attachments

Year End Report 2024