Karo Bio -- Quarterly report July -- September 2003


HUDDINGE, Sweden, Oct. 15, 2003 (PRIMEZONE) -- Karo Bio (Other OTC:KARBF):

-- Merck & Co., Inc. has decided to discontinue the development of one compound in the collaboration. A second candidate compound continues in preclinical development.

-- Karo Bio and Bristol-Myers Squibb have published data in support for the obesity project in the scientific journal P.N.A.S. (Proceedings of the National Academy of Sciences of the United States of America).

-- A new project aiming at development of selective thyroid hormone agonists for treatment of dyslipidemia (STADs) has been launched.

-- Net sales amounted to MSEK 10.5 (76.8).

-- Cash flows from operating activities amounted to MSEK -38.2 (8.3).

-- The loss for the period, including goodwill amortization, decreased to MSEK 34.3 (37.4). Operating result excluding goodwill amortization amounted to MSEK -35.2 (21.2).

-- Cash and cash equivalents and short-term investments amounted to MSEK 234.6 (235.2) at the end of the period.

-- Loss per share for the period amounted to SEK 2.03 (2.92).

This information was brought to you by Waymaker http://www.waymaker.net

The full report is available for download:

http://www.waymaker.net/bitonline/2003/10/15/20031015BIT00110/wkr0001.doc

http://www.waymaker.net/bitonline/2003/10/15/20031015BIT00110/wkr0002.pdf


            

Coordonnées