NeuroVive Pharmaceutical First subject enrolled
The main event of Q1, in our view, was the first enrolment of a healthy volunteer in the phase I trial with of KL1333. We expect to see initial results from the study before the end of 2019. Q1 operating cash flow was a negative cSEK13m, in line with Q1 last year, and slightly less negative than our estimate. However, we expect increasing losses as the company continues to ramp up clinical activities. As a result of the increased number of shares in Q1, we have adjusted our fair value range to SEK1.55–4.46 (SEK1.57–4.49)NeuroVive Pharmaceutical is engaged in the conducting research and development into pharmaceuticals that protect the mitochondria and pharmaceuticals to promote more effective mitochondrial function. The drug development technology platform is cyclosporine A, versions of cyclosporine, and molecules with a similar structure, which together, constitute a new class of pharmaceutical called cyclophilin inhibitors. The project portfolio also includes drug candidates for cellular energy regulation.
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