*Operating cost in the quarter was minus SEK8.9m, vs. our estimates of SEK8.1m (was SEK6.4m Q3-19), driven by higher personnel costs in the quarter due to higher pace in product development activities.
*Since Iconovo still is in development phase and royalty revenues are first to be expected in in upcoming years, we see short-term quarterly deviation to be of lesser importance.
*Regarding its ongoing development projects its collaboration with Amneal (ICOres Symbicort) and Amneal Pharma (ICOres unknown formulation) are both progressing well.
*With Amneal Pharma and ICOres (symbicort generic version), Iconovo expects to be at the the end-phase of the project and a complete technical delivery is expected in the beginning of next year, which means that Amneal Pharma will be able to start pharmacokinetic studies. If a positive outcome, Iconovo believes a commercial launch of ICOres Symbicort should be possible in beginning to mid of 2023, we had expected a commercial launch in end 2022 regarding ICOres Symbicort.
*In conclusion, we believe the Q3-20 report once again reflects that Iconovo is progressing with its development activities and having a good cost control. Iconovo states that invoicing is expected to be at a similar rate going into Q4 as in Q3 (positive).
*At the end of Q3-20, the company had a net cash position of c. SEK72m, the company has no interest bearing debt, i.e. we see no need to raise cash in the near to mid-term future. With the current burn-rate the company’s cash position will last in 3 years.
Aktuellt
SENASTE
