Message from the CEO
IBT has successfully completed the recruitment of infants for our Phase III study (The Connection Study), which is the final clinical trial planned according to the IBP-9414 development program. It all began with defining the clinical development plan for IBP-9414 with the FDA and the European equivalent, EMA, over 10 years ago. Once the plan was established, we built a small and highly efficient organization tasked with converting this plan into action. It is fantastic to note that we have succeeded. From a small office in the heart of
The last patient participating in "The Connection Study" will leave the study no later than
During this quarter, the Canadian regulatory authority warned against using probiotic supplements as a treatment for premature infants. Therefore,
Finally, I want to mention that we are now conducting something called PPQ (Product Process Qualification), which means we are documenting our manufacturing of IBP-9414 in a way that authorities can obtain the necessary documentation for approval of a medicinal product. IBT has also strengthened during the quarter by expanding our staff with more talented individuals, including a Head of Regulatory and a Supply Chain Director based in our
We have entered a new stage at IBT, and we look forward to an exciting near future.
Staffan Strömberg, CEO
Financial overview for the period First quarter (Jan-Mar) 2024 Net sales KSEK 0 (0) Operating income KSEK -29 798* (-24 296) Earnings per share before and after dilution |
* Operational income includes exchange rate effects on foreign currency deposits to secure future outflows during the first quarter amounting to KSEK 5 323 (-652).
Significant events during the reporting period (Jan-Mar)
- No significant events during the first quarter
Significant events after the reporting period
- On
April 4th 2024 , IBT announced that the last patient of a total of 2 158 premature babies has been enrolled in the global phase 3 clinical program (“The Connection Study” for the development of IBP-9414. The results from the study are anticipated during Q3 2024.
Selected financial data
000´s | 2024 | 2023 | 2023 |
Jan-Mar | Jan-Mar | Jan-Dec | |
- | - | - | |
Other income | 5 | 13 | 77 |
Operating profit / loss | -29 798 | -24 296 | -134 617 |
Result after tax | -27 815 | -22 468 | -123 068 |
Total assets | 348 878 | 333 694 | 351 334 |
Cash flow for the period | -24 768 | -28 509 | -4 704 |
Cash flow per share for the period (SEK) | -1.84 | -2.54 | -0.38 |
Cash | 309 618 | 306 680 | 329 064 |
Earnings per share before and after dilution (SEK) | -2.06 | -2.00 | -9.95 |
Equity per share (SEK) | 20.59 | 27.55 | 22.65 |
Equity ratio (%) | 79% | 93% | 87% |
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