Business & Finance
Moberg Pharma posts profit of SEK32.7m in Q1 2019
20 November 2019 -

Moberg Pharma AB (STO:MOB) reported on Tuesday net profit after tax of SEK32.7m, or diluted EPS of SEK1.76, for the first quarter of 2019, from July 2019 to September 2019.

This was an improvement over net profit after tax of SEK2.9m, or diluted EPS of SEK 0.26, in Q3 2018.

Net revenues for the quarter were SEK47.8m, as compared with SEK15.6m in Q3 2018.

Also, the company's Annual General Meeting, held on 30 October 2019, has resolved to convert the company's financial year from a fiscal year to the calendar year, 1 July 2019 to 31 December 2020. This interim report therefore covers the first quarter of the extended fiscal year from 1 July 2019.

In addition, in September 2019, an exclusive license agreement was signed with Taisho for the development, registration and commercialisation of MOB-015 in Japan. Under this agreement, Moberg Pharma is eligible to receive milestones of up to USD50m contingent on development and commercial success, as well as supply fees, including royalties.

Further, in September 2019, the board of directors proposed an extraordinary payment to the shareholders of SEK46.50 per share, an increase from the previously announced preliminary amount of SEK43 to SEK45 per ordinary share. As planned, this payment will be made through an automatic redemption procedure in November 2019.

Moberg Pharma AB researches and produces topical treatments for skin conditions.