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Regulatory press release

LIDDS AB (publ) Interim Report January – March 2024

LIDDS
Download the release


First quarter 2024 (the Group)
·Net sales amounted to 0 (0) TSEK
·The operating result for the period was -1 254 (-1) TSEK
·The net result was -1 311 (-5) TSEK corresponding to earnings per share of -0,01 (-0.00) SEK
·Cash flow from operating activities amounted to -738 (-64) TSEK
·Cash and cash equivalents amounted to 4 768 (10 947) TSEK
 
Significant events after the reporting period (during April)
·On April 2, the board of directors decided to cease further development of the project areas Nanodotax, Nanoimod
and NOV 202.
·Taking into account the principle of prudence, the board of directors, decided on April 10 to write down the book values of all intangible assets in LIDDS and Noviga as of 2024-12-31. This decision resulted in a deviation for the annual report compared to the published year-end report for 2024.
·Due to the reasons to believe that the company’s equity was less than on-half of the registered share capital, the board of directors decided to prepare a balance sheet for liquidation purpose on April 22.
·The balance sheet for liquidation purpose prepared and reviewed by the company’s auditor showed that the equity was less than half of the registered share capital and therefore the board of directors decided on April 24 to call a first control meeting.

CEO statement

During the first quarter, the focus has continued to be on trying to commercialize the three projects Nanoimod, Nanodotax and NOV 202. Furthermore, the work to reduce the company's costs has continued.
In beginning of April, we finally concluded, after extensive attempts, that Lidds will not succeed with the investments on which we have concentrated the company's resources on and therefore we did not see any opportunity to capitalize the company for further clinical studies. As a result, the board of directors decided to terminate further development of these project areas.
The work will now be fully focused on utilizing the values that the company owns in the form of the NanoZolid technology platform and its patents, the subsidiary Noviga with the drug candidate NOV 202 and its patents. In addition, we will investigate the interest for the company's listing on First North and any values for the accumulated loss carry forwards that have arisen.

Mats Wiking
CEO and CFO

The interim report is available on the company’s website https://liddspharma.com/sv/investerare/finansiella-rapporter/

For additional information, please contact


Mats Wiking, CEO and CFO
Phone: +46 (0)70 620 04 00
E-mail: mats.wiking@liddspharma.com

LIDDS’ Certified Adviser is Redeye AB

LIDDS in brief:


LIDDS is a Swedish pharmaceutical company focused on the development of oncology drugs. LIDDS has a proprietary drug delivery technology, NanoZolid®, on which several projects are based. With NanoZolid, LIDDS can formulate drugs for local/intratumoral administration, with a maintained and controlled release and with minimal negative side-effects. In addition to these projects, LIDDS develops proprietary drug candidate NOV202 that have shown very good results in pre-clinical studies. The company is listed on Nasdaq First North Growth market.

Attachments


LIDDS Interim Report Q1 2025

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