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Modus Therapeutics

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Modus Therapeutics publishes interim report for the first quarter 2023

MAR

STOCKHOLM, SWEDEN - 9 May 2022: Modus Therapeutics Holding AB (”Modus Therapeutics”) hereby publishes an interim report for the first quarter 2023. The report is available as an attached document and on the company's website (www.modustx.com). Below is a summary of the interim report.

John Öhd, Modus Therapeutics' CEO, commented: ” In Q1 we announced 3 key achievements that give us great confidence in our ability to make further important progress in 2023. These were:
• Positive topline data from our Phase 1b lipopolysaccharide (LPS) provocation study.
• Submitting a patent application based on new data for the use of sevuparin, in kidney disease and anemia, a significant new market opportunity.
• Securing access to bridge financing of up to SEK 7.0 million from our largest shareholder, Karolinska Development.
I am looking forward to an exciting 2023 as the enhanced communication of our science and data will further highlight the potential of sevuparin to all of our key stakeholders and potential partners.”

The first quarter in figures

  • The loss after tax amounted to TSEK 6 040 (3 065).
  • The loss per share amounted to SEK 0,38 (0,19).
  • The cash flow from current operations was negative in the amount of TSEK 6 335 (7 545).

Important events during the first quarter

  • Modus Therapeutics submits patent application for sevuparin in kidney disease.
  • Modus Therapeutics announces positive topline data from its Phase 1b LPS provocation study evaluating the potential of sevuparin for treatment of sepsis.
  • Modus Therapeutics participated in BIO-Europe spring, Basel.
  • Modus Therapeutics secures access to bridge financing (subject of approval at the AGM 11 May, 2023).

Important events after the end of the period

  • Modus Therapeutics participated in LSX, London.

CEO John Öhd will provide comments on the report in an interview with Jonathan Furelid today May 9th at 13:30 Link to Interview: https://www.youtube.com/live/Bno5mi8dRwU?feature=share

For more information on Modus Therapeutics, please contact:
John Öhd, CEO, Modus Therapeutics
Phone: +46 (0) 70 766 80 97
Email: john.ohd@modustx.com

This information is information that Modus Therapeutics Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-05-09 08:00 CEST.

Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Phone: +46 11 32 30 732
Email: ca@skmg.se

About Modus Therapeutics and sevuparin
Modus Therapeutics is a Swedish biotechnology company headquartered in Stockholm that develops sevuparin with a focus on diseases with a high unmet medical need. The company's focus in the near future is to develop sevuparin for patients with sepsis / septic shock, which is a serious and often fatal condition. Modus Therapeutics is listed on the Nasdaq First North Growth market (“MODTX”). More information is available at www.modustx.com.

Sevuparin is a clinical stage, innovative proprietary polysaccharide drug with a multimodal mechanism of action, including anti-inflammatory, anti-adhesive and anti-aggregate effects. Sevuparin is a heparinoid with markedly attenuated anti-coagulation features that allows severalfold higher doses to be given, compared to regular heparinoids, without the associated risk for bleeding side-effects. Two routes of administration of sevuparin are currently being tested – an IV formulation for in-patient administration and a subcutaneous formulation that allows ambulatory and home care administration.

Attachments
Modus Q1 2023 ENG Final

Datum 2023-05-09, kl 08:00
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Modus Q1 2023 ENG Final
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