(NGM:OASM A)
Positive development and a strong 2008 for Oasmia
The period May-Oct 2007 in brief
· Net sales for the group amounted to - 21 506 SEK, thousands (3 653 SEK,
thousands)
· Operating profit/loss before depreciation amounted to - 15 129 SEK, thousands
(-3 836 SEK, thousands)
· Operating profit/loss amounted to -16 453 SEK, thousands (- 5 066 SEK,
thousands)
· Profit before tax for the period amounted to -16 803 SEK, thousands (- 5 390
SEK, thousands)
· Earnings per share after tax for the period amounted to - 0,53 SEK (- 0,17
SEK)
Second Quarter Aug-Oct 2007
· Net sales for the group amounted to 13 960 SEK, thousands (2 313 SEK,
thousands)
· The profit before tax for the period amounted to - 8 863 SEK, thousands (1
780 SEK, thousands)
· Earnings per share after tax for the period amounted to - 0,28 SEK (0,06 SEK)
Key events during the period
On September 18 Oasmia was listed on NGM Equity. The purpose with the listing
was to improve the prerequisites for trade with the company shares, especially
for institutional and international investors.
During the month of September the results from the Phase I/II-study with the
cancer drug Paclical® was presented at the European Cancer Conference (ECCO 14)
in Barcelona.
During the same month, the results from the Phase I/II-study with the cancer
drug Paclical® Vet were presented at the European Veterinary Congress ECVIM-CA
Congress in Budapest.
The Oasmia general annual meeting on September 7th adopted the board's proposal
of private placement. After the realization the share capital has increased
with SEK 152 369 to a total of SEK 3 337 500 and the number of shares increased
with 1 523 690 to 33 375 000 in total.
During the month of October a comparative pharmacokinetic study on Paclical®
versus Taxol® (BMS) was started. The study is estimated to be finished in 2008.
The company considers this study to be impor-tant for the future international
registry process.
The company has increased the number of employees and strengthened its
organization: Especially within clinical trials and production but also within
the division of Regulatory Affairs. The number of employees has increased with
10 people during the period.
Key events after the close of the period
Oasmia and Orion Corporation, Finland, has signed a license and distribution
agreement for marketing and sales of Paclical® in the Nordic countries. The
agreement states that Orion holds exclusive rights for distribution and sales
in the region. Orion also holds first right of refusal to another
pharmaceutical candidate from the Oasmia product portfolio in the same region.
The agreement states that Oasmia receives 4 million Euro as an up-front payment
and after successful development and registration of the pharmaceutical, as
well as royalties on all sales. Oasmia will be responsible for clinical
development, registration and production of Paclical®.
Several negotiations with international partners concerning licensing of
Paclical® and Paclical® Vet which initiated earlier in the year are
far-reaching. The company's aims is to close other negotiations with business
partners during 2008.
The results from the clinical Phase I/II-study with Paclical® Vet were
presented at the annual veterinary congress Veterinary Cancer Society Congress
in Florida during the month of November.
The company has continued recruiting personnel, mostly within Quality Assurance
but also within Research and Development.
(For full report see attached file.)
