Karo Bio Quarterly Report January-March 2004


HUDDINGE, Sweden, April 23, 2004 (PRIMEZONE) -- Karo Bio:


 
 -- Substantial progress has been made in the collaboration with Wyeth 
    Pharmaceuticals in the discovery of lead compounds that show 
    significant anti atherogenic effects in animal disease models.

 -- The internal STAD dyslipidemia project continues to make good progress 
    and two patent applications have been filed for selected compounds.

 -- New and more potent androgen antagonists have been designed in the 
    prostate cancer project and a patent application has been filed for 
    selected compounds.

 -- Net sales amounted to MSEK 10.1 (12.7).

 -- The loss for the period, including goodwill expenses, decreased to 
    MSEK 34.2 (100.4). Operating loss excluding goodwill expenses 
    decreased to MSEK 35.1 (42.0).

 -- Cash flows from operating activities amounted to MSEK -36.1 (-39.7). 
    Cash and cash equivalents and short-term investments amounted to 
    MSEK 148.9 (161.2) at the end of the period.

 -- Loss per share for the period amounted to SEK 2.03 (7.82).

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The full report is available for download:

http://www.waymaker.net/bitonline/2004/04/23/20040423BIT00020/wkr0001.doc

http://www.waymaker.net/bitonline/2004/04/23/20040423BIT00020/wkr0002.pdf


            

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