Active Biotech provides updated information about the company's financial position
December 20 2017 - 9:00AM
PRESS RELEASE
Active Biotech has received a waiver (exemption) from its
commitment to the bank that finances the company's property in Lund
that the company's liquidity should never fall below SEK 30
million.
This exemption applies until and including February 27, 2018,
during which time the company must produce a sale of the property
at a value that generates a liquidity supplement that meets the
requirements for going concern, i.e. liquidity for twelve months of
operation.
Unless this or any other solution is found before February 27,
2018, the company will not have funding for the coming twelve-month
period.
Lund, December 20, 2017
Active Biotech AB (publ)
Helén Tuvesson
President and CEO
For further information, please
contact:
Mats Arnhög, Chairman of the Board
Tel. +46 8 545 03 770
Mobile +46 705 91 50 96
Helén Tuvesson, President and CEO
Tel. +46 46 19 21 56
Hans Kolam, CFO
Tel. +46 46 19 20 44
Active Biotech AB (publ)
(NASDAQ Stockholm: ACTI) is a biotechnology company with focus on
neurodegenerative/inflammatory diseases and cancer. Laquinimod, an
orally administered small molecule with unique immunomodulatory
properties is in development for neurodegenerative diseases in
partnership with Teva Pharmaceutical Industries Ltd. ANYARA, an
immunotherapy, in development for cancer indications in partnership
with NeoTX Therapeutics Ltd. Furthermore, commercial activities are
conducted for the tasquinimod, paquinimod and SILC projects. Please
visit www.activebiotech.com for more information.
Active Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund, Sweden
Tel: +46 (0)46 19 20 00
This information is information
that Active Biotech AB is obliged to make public pursuant to the EU
Market Abuse Regulation. This information was submitted for
publication, through the agency of the contact person set out
above, at 15.00 p.m. CET
on December 20, 2017.
Active Biotech provides updated
information
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Active Biotech via Globenewswire
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