IRLAB Therapeutics - Q1’22 report: Making progress - ABG

Expanding pipeline to apathy in neurological disorders Pirepemat Ph 2b in PD-falls started in Q1 No new material updates, conf call at 10:30 CET Expanding pipeline and advancing clinical development Q1’22 was defined by the announcement of the new molecule IRL757 to treat apathy, a syndrome associated with neurological disorders such as PD, Alzheimer’s disease, and frontotemporal dementia. The company is currently running preclinical development and expects to start a Ph 1 during H2’23. IRLAB also confirmed the planned start of the IRL942 Ph 1 trial in cognitive impairment in H1’23, pending completion of pre-clinical work and regulatory approvals. Other events during the quarter include the start of the pirepemat Ph 2b trial in PD-falls in France, Germany, Poland, Spain, and Sweden. After the quarter, IRLAB announced the acquisition of the “know-how” linked to the development and intellectual property of the P003 project from Per Lindberg Consulting AB. The deal included a SEK 0.5m cash payment and the directed issue of 120.000 new class A shares, corresponding approximately to SEK 4.8m based on 10 days VWAP. This acquisition is expected to increase IRLAB’s chances of obtaining strong patent protection and filing more patent applications of relevance to the substances in the P003 projects. IRLAB highlighted the potential impact of a resurgent COVID-19 pandemic and the war in Ukraine as potential risks to its clinical studies. However, so far, the war has had only a minor impact on the ongoing studies. Financials Cash flow from operations came in at SEK -32.8m (SEK -28.4m in Q4’21). Cash and cash equivalents amounted SEK 368m (SEK 401.9m in Q4’21). Mesdopetam top-line data in PD-LIDs the next milestone The main upcoming milestone is the top-line data from the mesdopetam Ph 2b trial in PD-LIDs expected in H2’22. With no new material updates to move the share in the report, we expect a neutral share price reaction today. IRLAB will host a conference call today at 10:30 CET vie ... Läs mer på ABG Sundal Collier