John Öhd, Modus Therapeutics’ CEO, commented:” 2023 has been a very important and exciting year for Modus Therapeutics. With positive top-line data for our main candidate sevuparin against serious systemic inflammations such as sepsis and endotoxemia, new research from cell to human that shows sevuparin’s potential in additional therapeutic areas as well as secured financing, we have laid the foundation for a new phase in the company’s development.
The research, presented at the annual European Hematology Association (EHA) and American Society of Hematology Meeting and Exposition 2023 (ASH), showed consistent results regarding sevuparin’s ability to potently suppress the iron-regulating hormone hepcidin in cultured cells, mice and humans. In our research, sevuparin was also able to counteract anemia and improve kidney status in mice that developed chronic kidney disease. These data reinforce the potential for a new clinical program for patients with anemia in chronic kidney disease starting with a tailored, two-part phase IIa study. We expect to be able to initiate such a study in the first half of 2024, with estimated reporting of its first part in the first quarter of 2025 and in the beginning of 2026 for its second part. I would like to take this opportunity to express a special thank you to our existing and new shareholders who have chosen to participate in the issue. Your continued support is invaluable in our endeavor to develop new, effective and safe treatments for high-need diseases with multi-billion dollar market potentials”

The fourth quarter in figures

• The loss after tax amounted to TSEK 4 068 (9 356).
• The loss per share amounted to SEK 0,18 (0,58).
• The cash flow from current operations was negative in the amount of TSEK 3 127 (8 192).

The full year in figures

• The loss after tax amounted to TSEK 17 898 (18 320).
• The loss per share amounted to SEK 1,01 (1,14).
• The cash flow from current operations was negative in the amount of TSEK 16 684 (21 724).

Important events during the quarter

• Modus Therapeutics presents final data from its Phase 1b LPS-provocation study with sevuparin at the annual ISICIP symposium in Barcelona.
• Modus Therapeutics Holding AB resolves to conduct a Rights Issue and an Offset Issue.
• Modus Therapeutics Holding AB Announces Final Outcome in Rights Issue.
• Modus Therapeutics presented data on sevuparin demonstrating its potential to treat anemia in chronic kidney disease at the annual American Society of Hematology (ASH).

Important events after the end of the period
No event to report.

CEO John Öhd will provide comments on the report in an interview with Jonathan Furelid on February 23 at 11:00 Link to Interview: https://www.youtube.com/live/FeVkg1twfqQ?si=iZxJ09SItLgS98IG