Stockholm, 2014-10-24 07:01 CEST (GLOBE NEWSWIRE) --
PLIANT study fully recruited and a new exciting project for acetaminophen-induced poisoning presented
Quarter summary
- Net result amounted to SEK -11 265k (-4 509k)
- Cash and cash equivalents on September 30 amounted to SEK 40 675k (54 910k)
- Cash flow from operating activities amounted to SEK -7 124k (-4 207k)
- Result per share amounted to SEK -0.5 (-0.2)
Significant events during July – September
- The first two futility analysis in the PLIANT study were approved by the DSMB
- Positive data from patients treated with the FOLFOX in combination with bevacizumab in the first part of the PLIANT study
- PledPharma was rewarded Nordic Star of the Year at the Nordic Life Science Days
Significant events after the end of the period
- The last patient was included in the PLIANT study
- The last futility analysis in the PLIANT study was approved by the DSMB
- The new project against acetaminophen induced poisoning is aimed to be financed by a rights issue
CEO comments
The PLIANT study is fully recruited and all 126 patients have been included in part II. We expect to deliver top line results by the end of the first quarter 2015.
We have during the year worked on a new project with expected great commercial potential based on the proprietary PLED-platform. Project PP-100 aims at reducing or preventing severe liver damage as a result of acetaminophen overdosing, one of the most common poisonings. Because the compound in the PP-100 project is based on the same platform as PledOx, existing safety documentation can be used and the company believes that the project can go directly from preclinical stage to a Phase II study in patients.
For further information contact:
Jacques Näsström, CEO PledPharma, tel 073 713 09 79
Michaela Gertz, CFO PledPharma, tel 070 926 17 75
About Pledpharma
PledPharma is a Swedish pharmaceutical company developing novel therapies for life-threatening diseases. Our initial goal is to develop a drug, PledOx®, which reduces the serious side effects associated with chemotherapy. Project PP-099 is based on limiting the damage that occurs to the myocardium in patients suffering from acute myocardial infarction. In project PP-100, the most recent addition, the ability of PledPharma compound (PP100-01A) to reduce or prevent acute liver failure as a result of acetaminophen poisoning will be evaluated. We have the potential to provide patients with valuable and unique treatments for severe, life-threatening diseases where there is also an opportunity for faster registration process in the United States through breakthrough therapy designation. The current market for prevention of chemotherapy-induced side-effect is about US$ 10 billion. PledPharma (STO: PLED) is listed on NASDAQ OMX First North. Erik Penser Aktiebolag is Certified Adviser. For more information, see www.pledpharma.se
