Ankündigung • Apr 16
Lipigon Pharmaceuticals AB (publ), Annual General Meeting, May 18, 2026 Lipigon Pharmaceuticals AB (publ), Annual General Meeting, May 18, 2026, at 15:00 W. Europe Standard Time. Location: advokatfirman vinges premises, smalandsgatan 20, 111 46 stockholm, Sweden New Risk • Dec 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 26% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr28m free cash flow). Share price has been highly volatile over the past 3 months (26% average weekly change). Shareholders have been substantially diluted in the past year (309% increase in shares outstanding). Revenue is less than US$1m (kr1.3m revenue, or US$140k). Market cap is less than US$10m (kr7.03m market cap, or US$747.1k). New Risk • Sep 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 309% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr29m free cash flow). Shareholders have been substantially diluted in the past year (309% increase in shares outstanding). Revenue is less than US$1m (kr1.3m revenue, or US$139k). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr111.5m market cap, or US$11.8m). New Risk • Aug 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr29m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr29m free cash flow). Revenue is less than US$1m (kr912k revenue, or US$95k). Market cap is less than US$10m (kr26.8m market cap, or US$2.81m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Ankündigung • May 26
Lipigon Pharmaceuticals AB (publ), Annual General Meeting, Jun 26, 2025 Lipigon Pharmaceuticals AB (publ), Annual General Meeting, Jun 26, 2025, at 17:00 W. Europe Standard Time. Location: at advokatfirman schjodt, at hamngatan 27, stockholm Sweden Ankündigung • May 23
Lipigon Pharmaceuticals AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 37.37929 million. Lipigon Pharmaceuticals AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 37.37929 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 415,325,442
Price\Range: SEK 0.09
Transaction Features: Rights Offering Reported Earnings • Apr 01
Third quarter 2024 earnings released: kr0.045 loss per share (vs kr0.061 loss in 3Q 2023) Third quarter 2024 results: kr0.045 loss per share. Net loss: kr6.72m (loss widened 38% from 3Q 2023). Revenue is forecast to grow 98% p.a. on average during the next 4 years, compared to a 16% growth forecast for the Biotechs industry in Sweden. Breakeven Date Change • Apr 01
Forecast breakeven date pushed back to 2027 The analyst covering Lipigon Pharmaceuticals previously expected the company to break even in 2026. New forecast suggests the company will make a profit of kr111.1m in 2027. Average annual earnings growth of 80% is required to achieve expected profit on schedule. Ankündigung • Mar 28
Lipigon Pharmaceuticals AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 37.37929 million. Lipigon Pharmaceuticals AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 37.37929 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 415,325,442
Price\Range: SEK 0.09
Transaction Features: Rights Offering Ankündigung • Mar 20
Lipigon Pharmaceuticals AB (Publ) Announces Positive Results from Phase I Clinical Trial with Lipisense Lipigon Pharmaceuticals AB announced that its development and commercialisation partner Leaderna Therapeutics has generated positive results from a recently completed Phase I study with Lipisense®?. The study was conducted in healthy individuals in China and the results confirm that the drug candidate is safe and well tolerated after single ascending dose (SAD) administration. In parallel, a Phase II clinical trial of Lipisense®? in patients with moderately to severely elevated blood lipid levels is ongoing in Sweden. Lipigon Pharmaceuticals is collaborating with Leaderna Therapeutics Ltd. (Leaderna) for the development and commercialisation of Lipisense®? In China, Hong Kong, Taiwan and Macau. Leaderna has informed Lipigon of the results of a recently completed double-blind, randomised, placebo-controlled Phase I clinical trial of Lipisenses®?. The study aimed to evaluate the tolerability, safety and pharmacokinetic profile of the drug candidate after single and ascending dose (SAD) Administration in a total of 24 healthy subjects. These results confirm the safety data from Lipigon's own Phase I clinical trial with Lipisense®?, thereby strengthening the evidence for the favourable safety profile of the treatment when administered within the studied dose range. Ankündigung • Jan 29
Lipigon Pharmaceuticals AB (publ), Annual General Meeting, May 22, 2025 Lipigon Pharmaceuticals AB (publ), Annual General Meeting, May 22, 2025. Recent Insider Transactions • Dec 09
Co-Founder & CEO recently bought kr76k worth of stock On the 3rd of December, Stefan Nilsson bought around 437k shares on-market at roughly kr0.17 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr426k worth in shares. Reported Earnings • Nov 22
Third quarter 2024 earnings released: kr0.045 loss per share (vs kr0.061 loss in 3Q 2023) Third quarter 2024 results: kr0.045 loss per share. Revenue: kr64.0k (down 82% from 3Q 2023). Net loss: kr6.72m (loss widened 38% from 3Q 2023). Revenue is forecast to grow 128% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in Sweden. Recent Insider Transactions • Sep 18
Co-Founder & CEO recently bought kr75k worth of stock On the 10th of September, Stefan Nilsson bought around 313k shares on-market at roughly kr0.24 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr350k worth in shares. Recent Insider Transactions • Sep 15
Co-Founder & CEO recently bought kr75k worth of stock On the 10th of September, Stefan Nilsson bought around 313k shares on-market at roughly kr0.24 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr350k worth in shares. Breakeven Date Change • Aug 30
Forecast to breakeven in 2026 The analyst covering Lipigon Pharmaceuticals expects the company to break even for the first time. New forecast suggests the company will make a profit of kr150.6m in 2026. Average annual earnings growth of 116% is required to achieve expected profit on schedule. New Risk • Aug 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr16m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr16m free cash flow). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (kr9.7m revenue, or US$951k). Market cap is less than US$10m (kr39.2m market cap, or US$3.84m). Minor Risks Currently unprofitable and not forecast to become profitable next year (kr22m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Recent Insider Transactions • Apr 24
Co-Founder & CEO recently bought kr101k worth of stock On the 19th of April, Stefan Nilsson bought around 301k shares on-market at roughly kr0.34 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr304k worth in shares. Ankündigung • Feb 08
The Swedish Medical Products Agency Approves Lipigon's Phase II Study with Lipisense Lipigon Pharmaceuticals AB announces that the Swedish Medical Products Agency and the Swedish Ethical Review Authority, via the European application system CTIS, have approved Lipigon's application to conduct a phase II study. With this approval, Lipigon can now start the phase II study with Lipisense® in patients with severe hypertriglyceridemia. The study will be conducted entirely in Sweden at three to four different trial clinics and will include up to 26 patients with severely elevated blood fats of the triglyceride type and underlying type 2 diabetes. The patients are treated for one month with four doses of Lipisense® and then followed for six months where safety parameters, blood lipids and other important metabolic factors are studied. Lipigon will begin screening patients for inclusion in the study as soon as possible. The goal is to administrate the last dosage in the second half of 2024. The phase I study showed that Lipisense® can effectively lower the levels of the target protein ANGPTL4 in plasma, which is believed to significantly contribute to the etiology of metabolic disorders. Focusing on patients with high ANGPTL4 levels, Lipisense® is not only a potential blood lipid lowering agent but may also have a positive effect on blood glucose homeostasis. With the potential to affect several metabolic parameters, Lipisense® is an attractive candidate in a competitive pharmaceutical segment. Lipigon's phase II study aims to evaluate the safety of Lipisense® in patients, while providing the opportunity to measure important indicators of the drug candidate's effect. The study has been designed in collaboration with leading clinical experts, which strengthens the positioning of Lipisense®. Recent Insider Transactions • Dec 22
Co-Founder & CEO recently bought kr135k worth of stock On the 20th of December, Stefan Nilsson bought around 312k shares on-market at roughly kr0.43 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr247k worth in shares. Recent Insider Transactions Derivative • Dec 19
Business Development Manager & Chairman exercised options to buy kr146k worth of stock. On the 14th of December, Lars Öhman exercised options to buy 343k shares at a strike price of around kr0.30, costing a total of kr103k. This transaction amounted to 109% of their direct individual holding at the time of the trade. Since March 2023, Lars has owned 314.05k shares directly. Company insiders have collectively bought kr305k more than they sold, via options and on-market transactions, in the last 12 months. Ankündigung • Dec 13
Lipigon Pharmaceuticals AB (Publ) Announces Lipisense Progressing to Phase II Trials Lipigon Pharmaceuticals AB announced that during the first quarter of 2024, Lipisense is scheduled to enter clinical Phase II trials. This marks the beginning of an exciting journey towards the next milestone in Lipigon's history. Stefan Pierrou, Clinical Development Officer at Lipigon, shares insights into what this entails and the steps ahead. Lipigon's most advanced project, Lipisense, aims to reduce blood triglyceride levels in patients with dangerously high levels. In the first quarter of 2024, plans are underway for the drug candidate to enter Phase II studies. Upon repeated doses, a reduction in the target protein ANGPTL4 in the blood was also observed, confirming the targeted function of Lipisense®. The decrease in protein levels in plasma was statistically confirmed compared to the placebo group in a post hoc analysis conducted by the study sponsor. A post hoc analysis is a statistical examination performed after data collection, revealing unplanned patterns or differences that were not originally the focus of the study. The start of the Phase II study has been slightly adjusted due to changes in the study protocol and the application process for the new EU-harmonized system to approve clinical trials. On November 10th, Lipigon applied to the Clinical Trial Information System (CTIS), the EU-based platform governing the approval process for clinical trials in Europe. Anticipated approval from CTIS within 60-106 days sets the stage for the study to commence early next year. The Phase II study will be conducted with the contract research organization Link Medical at three trial sites in Sweden: Karolinska University Hospital Huddinge, Västerås Hospital, and the Clinical Trial Consultants (CTC) trial site in Uppsala. The purpose of the Phase II study is to document the safety profile of Lipisense® in patients with severe hypertriglyceridemia (sHTG) and type 2 diabetes (T2D). The clinical development plan is centered around reducing levels of the protein ANGPTL4, a critical target in treating lipid disorders. By specifically "turning off" the production of the ANGPTL4 protein in the liver, the RNA-based drug candidate leverages the protein's role in the disease to the patient's advantage. This unique approach not only potentially offers effective treatments for lipid disorders but may also bring additional health benefits, such as improved control of blood glucose levels. By focusing on inhibiting ANGPTL4, Lipigon is paving the way for innovative and effective treatment strategies. In a secondary and exploratory objective, the study will examine various biomarkers, such as blood lipid levels and insulin sensitivity, to better understand the underlying effects. The patient group suffering from elevated triglyceride levels faces a significantly increased risk of several serious diseases, particularly acute pancreatitis and atherosclerosis. There is a substantial need for new, innovative treatment options to address these patients' challenges. The planned Phase II study is structured to meticulously explore their condition and enhance their understanding of various health aspects. The study is small and cost-effective, aiming to provide additional information on safety and its impact on biomarkers. It will involve 25 patients treated with four doses of Lipisense® or a placebo over one month. After three months, a database lock will occur, followed by a further three-month patient follow-up. Data will be available after the three-month follow-up. Given the high stability of the drug substance and the remaining doses of Lipisense® from the Phase I study still available, these can also be utilized for the entire Phase II study. Leaderna will develop and commercialize Lipisense® in China, Hong Kong, Taiwan, and Macau. Lipigon will retain global development and commercial rights outside Greater China. As part of the agreement, Lipigon has received an upfront payment and may also receive milestone payments and royalties on sales in Greater China, up to 91 million USD in the future. The collaboration is also expected to result in significant cost savings through cost-sharing. Leaderna will initiate its Phase I study parallel to Lipigon's Phase II study. The primary objective of this study is to investigate how the metabolism of the drug Lipisense® is influenced by genetic variations in the Chinese population. Based on the results of this study, Lipigon and Leaderna may collaborate to continue clinical development together. The drug substance from Lipigon's Phase I study will also be utilized for this study. Ankündigung • Nov 24
Lipigon Pharmaceuticals AB (Publ) Reports A Statically Confirms reduction of target protein ANGPTL4 after repeate treatment with Lipisense ® Lipigon Pharmaceuticals AB (Lipigon) announced that its blood lipid-lowering drug candidate, Lipisense®?, has demonstrated with statistical certainty a significant reduction in the concentration of the target protein ANGPTL4 in the blood of healthy individuals. In the recent Phase I study involving Lipisense®? where 24 healthy participants received four repeated doses of either Lipisense®? or a placebo, a reduction in the target protein ANG PTL4 was observed in those administered Lipisense®? The decrease in blood plasma reached -29% for individuals undergoing active treatment compared to the placebo group at the 90-day follow-up after the final dose (95% confidence interval: -55% to -3%, P-value: 0.03). The statistical analysis was performed post hoc on the study data by the sponsor. The results are encouraging, suggesting a potential positive impact on cardiometabolic diseases like type 2 diabetes and cardiovascular diseases. Ankündigung • Nov 15
Lipigon Applies for Clinical Trial Phase II for Lipisense Lipigon Pharmaceuticals AB (Lipigon) announced that the company has submitted an application for a Phase II clinical trial for its blood lipid-lowering drug candidate, Lipisense®?. The application has been submitted via CTIS (Clinical Trial Information System), which means that a joint application for approval is sent to the Swedish Medical Products Agency (Lakemedelsverket) and the Swedish Ethical Review Authority (Etikprovningsmyndigheten) through the electronic EU portal, CTIS. Lipigon is now awaiting the response from the authorities before recruiting the first patient for the study. Typically, the approval process takes 60-106 days under normal circumstances. The purpose of the study is to document the safety profile of Lipisense®? in patients with severe hypertriglyceridemia (sHTG) and type 2 diabetes. Additionally, secondary and exploratory objectives include the investigation of various biomarkers, such as blood lipid levels and insulin sensitivity. The Phase II study is conducted in collaboration with the contract research organization Link Biomedical at three trial sites in Sweden: Karolinska University Hospital Huddinge, Vasteras Hospital, and the Clinical Trial Consultants (CTC) trial unit in Uppsala. The clinical development plan focuses on the protein ANGPTL4 and its unique properties that can provide patients with lipid disorders with the potential for a new and effective treatment. "Switching off" the production of the ANGPTL4 protein, specifically in the liver, using the RNA-based drug candidate Lipisense®? may also have other valuable effects, such as improved control of blood glucose levels. New Risk • Aug 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 28% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr28m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings are forecast to decline by an average of 28% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (295% increase in shares outstanding). Market cap is less than US$10m (kr39.4m market cap, or US$3.59m). Minor Risks Currently unprofitable and not forecast to become profitable next year (kr27m net loss next year). Revenue is less than US$5m (kr16m revenue, or US$1.4m). Recent Insider Transactions • Jul 24
Co-Founder & CEO recently bought kr68k worth of stock On the 20th of July, Stefan Nilsson bought around 182k shares on-market at roughly kr0.37 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr112k worth in shares. Ankündigung • Jul 13
Lipigon Pharmaceuticals AB (publ) Announces Positive Safety Results and Encouraging Target Engagement Data from the Phase I Lipisense Trial Lipigon Pharmaceuticals AB announced the complete safety results from the lipid lowering investigational ANGPTL4 inhibitory drug Lipisense Phase I trial. Throughout the treatment groups, a favorable safety and pharmacokinetic profile was observed. Analyses also revealed decreasing plasma ANGPTL4 levels with repeated doses in the multiple ascending dose (MAD) groups. The Phase I study included 54 healthy study participants, and the primary goal was to evaluate safety and tolerability after single och multiple subcutaneous injections of Lipisense at different dose levels or placebo. No serious adverse events have occurred, and adverse events possibly or probably related to treatment were mild resolving injection site reactions (89% of treated, 0% of placebo). In this study there were no signs for elevations of markers of toxicity in liver or kidney. In the MAD cohorts a dose dependent trend for decreased plasma ANGPTL4 protein levels was detected, clearly suggesting that Lipisense has target engagement. Protein levels in plasma were decreased with up to 24 %, 90 days after last dose, corrected for the placebo effect. Decreasing levels compared to placebo were observed throughout the dosing period. Ankündigung • Jan 20
Lipigon Announces Further Positive Data from Phase I Trial of Lipisense Lipigon Pharmaceuticals AB announced positive safety results from multiple dosing in the phase I trial with the drug candidate Lipisense. The drug candidate is being developed for treating hypertriglyceridemia. Lipisense is a drug candidate developed to lower blood lipid triglycerides in patients with severely elevated levels by preventing the production of the protein ANGPTL4 in the liver. Phase I trials started in May 2022, and today, Lipigon announced additional safety results from multiple dosing showing a good safety profile for the drug candidate Lipisense in the ongoing trial. The current safety data includes the completed 6 and 12 mg multiple ascending doses (MAD) cohorts. Based on the recommendation from the safety committee, Lipigon decided to progress with a 36 mg MAD cohort. Altogether four groups with 32 persons can be studied in the MAD cohorts. In the single ascending dose (SAD) groups, and as reported previously, the investigational drug also demonstrates a favorable safety profile. In a previous press release, Lipigon announced positive safety results for a 36 mg dosage in the SAD part. Now, the company can report similar safety results for a dosage of 72 mg. Since no serious adverse effects and only mild reversible adverse effects related to treatment were reported, the company has also decided to include a 144 mg dose group in the SAD study. This group will be tested and analyzed in parallel with the remaining groups of the MAD study. Reported Earnings • Nov 26
Third quarter 2022 earnings released: kr0.36 loss per share (vs kr1.18 loss in 3Q 2021) Third quarter 2022 results: kr0.36 loss per share (improved from kr1.18 loss in 3Q 2021). Net loss: kr6.84m (loss narrowed 40% from 3Q 2021). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 30% growth forecast for the Biotechs industry in Sweden. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Eva Lindqvist was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Board Member Jessica Martinsson was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: kr4.56 loss per share (down from kr1.71 loss in FY 2020). Revenue: kr3.18m (down 21% from FY 2020). Net loss: kr41.1m (loss widened 410% from FY 2020). Revenue was in line with analyst estimates. Reported Earnings • Nov 28
Third quarter 2021 earnings: Revenues in line with analyst expectations Third quarter 2021 results: Net loss: kr11.4m (flat on 3Q 2020). Revenue was in line with analyst estimates. 
