Board Change • Jun 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Director Aleksandar Danilovski was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 07
Active Biotech AB (publ) to Report Fiscal Year 2026 Results on Feb 11, 2027 Active Biotech AB (publ) announced that they will report fiscal year 2026 results on Feb 11, 2027 Duyuru • Apr 21
Active Biotech AB (publ), Annual General Meeting, May 20, 2026 Active Biotech AB (publ), Annual General Meeting, May 20, 2026, at 17:00 W. Europe Standard Time. Location: in the premises of the company, scheelevagen 22, se-223 63 lund, lund Sweden Duyuru • Apr 17
Uli Hacksel and Axel Glasmacher Decline Re-Election as Director of Active Biotech AB (Publ) Active Biotech AB (publ) announced that Uli Hacksel and Axel Glasmacher has declined re-election as director at the upcoming Annual General Meeting. Board Change • Mar 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Aleksandar Danilovski was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 149% 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 Shares are highly illiquid. Shareholders have been substantially diluted in the past year (149% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr135.5m market cap, or US$14.7m). Board Change • Nov 25
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Director Axel Glasmacher was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr91.8m (US$9.75m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (240% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (kr91.8m market cap, or US$9.75m). Duyuru • Oct 18
Active Biotech AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 70.295124 million. Active Biotech AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 70.295124 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,405,902,488
Price\Range: SEK 0.05
Transaction Features: Rights Offering Breakeven Date Change • Sep 10
Forecast breakeven date moved forward to 2025 The analyst covering Active Biotech previously expected the company to break even in 2027. New forecast suggests the company will make a profit of kr840.0k in 2025. Earnings growth of 109% is required to achieve expected profit on schedule. Board Change • Sep 10
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Axel Glasmacher was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Aug 27
Forecast breakeven date moved forward to 2025 The analyst covering Active Biotech previously expected the company to break even in 2027. New forecast suggests the company will make a profit of kr840.0k in 2025. Earnings growth of 109% is required to achieve expected profit on schedule. Breakeven Date Change • Aug 21 The analyst covering Active Biotech previously expected the company to break even in 2027. New forecast suggests losses will reduce by 5.1% per year to 2026. The company is expected to make a profit of kr114.4m in 2027. Average annual earnings growth of 119% is required to achieve expected profit on schedule.
Board Change • Jul 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Axel Glasmacher was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jul 10
Active Biotech Provides Status Update of Its Development Programs Active Biotech AB (publ) provided a status update of its development programs with laquinimod in inflammatory eye disorders and tasquinimod with the core focus in myelofibrosis. The company has communicated progress in the clinical development programs for both drug candidates recently, and a majority of the planned clinical milestones 2025 have been executed. In the laquinimod project, announced topline data from the biodistribution LION study in early May, and most recently an with the principal investigators of the study was published. The interview results from the LION study confidentlyingly demonstrate that laquinimod, at a therapeutic concentration, reaches the back of the eye when administered topically as an eye drop formulation. There is a high unmet need for non-invasive local delivery of therapeutic agents for use in the treatment of inflammatory eye diseases such as non-infectious uveitis and diseases with excessive neovascularisation like wet AMD. The work was carried out in collaboration with Dr. Rachel Caspi's world leading group of at the NEI /NIH and provides the mechanistic basis for the effect of laquinimod in inflammatory Eye disorders. In the myelofibrosis studies with tasquinimod in US and Europe, the first patients were recruited in the beginning of 2025. The protocols for both studies are presently being amended to allow an initial dose-titration regimen with both up- and down-regulation of dosing for increased flexibility in the clinical management of the patients. In the US study the combination of tasquinimod with The newly marketed JAK inhibitor momelotinib is included in the combination cohort. During this process recruitment is paused. Enrollment to the studies will be restarted as soon as have clearance from the Regulatory Authorities and Ethical Committees in the US and Europe. Myelofibrosis is a very rare haematological malignancy with low patient recruitment rate and thus do not foresee major changes to the projected study times lines. Data from the multiple at Abramson Cancer center were reported in early June at myeloma study. ASCO, the world's leading cancer congress. The data from the combination with a standard oral treatment IRd demonstrate the effect of tasquinimod on the tumor microenvironment in the bone marrow and support a role for tasquinimod also in myelofibrosis". The full study data will be submitted for publication in a peer reviewed Journal. Duyuru • May 29
Active Biotech AB (Publ) Approves Composition of Election Committee Active Biotech AB (publ) at its AGM held on May 28, 2025, resolved, in accordance with the Election Committee’s proposal, that the Election Committee shall be composed of the Chairman of the Board and one member appointed by each of the three largest shareholders of the Company based on the ownership structure at the end of September 2025. Duyuru • May 05
Active Biotech Reports Positive Top-Line Results from the Lion Study on Ocular Absorption and Distribution of Laquinimod in the Eye Active Biotech announced positive top-line results from the clinical phase I LION study. Patients scheduled to undergo pars plana vitrectomy for various elective indications were administered laquinimod daily as eye drops during a 14-day preoperative period. The top-line results from the LION study (Safety, Tolerability, and Distribution of Topical Laquinimod) show that daily dose Eye Drops, an Innovative ImmunomodulatOr Targeting Aryl HydrocarboN Receptor levels of either 0.6, 1.2 and 1.8 mg resulted in dose related intraocular concentrations of laquinimod, which reached a therapeutically relevant level in both the vitreous humor and anterior chamber. Laquinimod administered as eye drops at the chosen daily dose levels was safe and well tolerated for the period of administration studied, and no dose-limiting toxicities were reported in any of the subjects. Importantly, these results demonstrate that laquinimod, when administered topically by patients as an eye drop, can yield intra-ocular concentrations in the posterior parts of the eye, which are known to affect ongoing inflammatory processes. These data support a continued development of laquinimod eye drops for patients with non-infectious inflammatory eye-diseases. Active Biotech currently holds three projects in its portfolio, of which tasquinimod and laquinimod are wholly owned small molecule immunomodulators with a mode of action that includes modulation of myeloid immune cell function. The projects are in clinical development for hematological malignancies and inflammatory eye disorders, respectively. The company's core focus is on the development of tasquinimod in myelofibrosis, a rare blood cancer, where clinical proof-of-concept studies has been initiated. Also ongoing is a clinical Phase Ib/IIa study in multiple myeloma. Laquinimod is in clinical development for the treatment of non-infectious uveitis. A clinical phase I program with a topical ophthalmic formulation is ongoing to support phase II development together with a partner. The third pipeline project is naptumomab, a targeted anti-cancer immunotherapy, partnered to NeoTX Therapeutics, which is in a phase Ib/II clinical program in patients with advanced solid tumors. Duyuru • Apr 28
Active Biotech AB (publ), Annual General Meeting, May 28, 2025 Active Biotech AB (publ), Annual General Meeting, May 28, 2025, at 17:00 W. Europe Standard Time. Location: in the premises of the company, at scheelevagen 22, se-223 63 lund Sweden Board Change • Apr 07
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Axel Glasmacher was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Axel Glasmacher was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Feb 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr106.0m (US$9.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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 (-kr40m free cash flow). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (240% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (kr106.0m market cap, or US$9.95m). New Risk • Feb 16
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: -kr40m 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 (-kr40m free cash flow). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (240% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr108.0m market cap, or US$10.1m). Board Change • Dec 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Axel Glasmacher was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Sep 10
Active Biotech AB (Publ) Reports Intention Inaugural Interocular Concentrations Achieves in A Clinical Bylistribution Study of Laquinimod Eye Drops Active Biotech announced an update to the ongoing clinical phase I biodistribution study of laquinimod eye drops in patients undergoing vitrectomy. A proprietary formulation of laquinimod for corneal application was developed, taking the specific physico-chemical characteristics of this agent into account, to facilitate that a clinically relevant intraocular therapeutic concentration of laquinimod can be obtained. The study, which is being conducted by principal investigator Professor Dr Nguyen at the Byers Eye Institute, Stanford University, Palo Alto, CA, US, aims to evaluate if laquinimod when administered as eye drops reaches the anterior and the posterior chambers of the eye, to support further development in patients with Uveitis. During a 14-day preoperative administration of laquinimod as eye drops, all the three subjects in the first dose group received 0.6mg laquinimod once daily. All subjects, had significant concentrations of laquinimod in vitreous as well as in the anterior chamber fluid when sampled during surgery. This supports distribution of laquinimod from the cornea and sclera into the anterior chamber and onwards to the posterior parts of the eye. These data are also consistent with results previously obtained in rabbits and in an in vitro bovine corneal model of laquinimod penetration into the eye. The bioanalytical results also show that administration of laquinimod eye drops leads to quantities of laquinimod in vitreous humour at therapeutically relevant concentrations, as determined from prior studies in multiple sclerosis patients. Anecdotally, a potent anti-inflammatory ocular effect of laquinimod was noted in the anterior chamber of one patient following 14-days of application as per the protocol, in absence of any concomitant corticosteroid treatment. These initial findings are important to the further development of laquinimod for ocular disorders, as they unequivocally establish trans-corneal-scleral passage of laquinimod. The current study design involves enrolling additional patients at different dose-levels with top-line results expected in late 2024/early 2025. Duyuru • Jul 15
Active Biotech Provides Update on the Clinical Phase Ib/IIa Study with Tasquinimod in Relapsed Refractory Multiple Myeloma Active Biotech announced an update to a clinical study of tasquinimod in patients with relapsed refractory multiple myeloma (RRMM) being conducted at the Abramson Cancer Center at the University of Pennsylvania in Philadelphia. The study is ongoing in its expansion cohort at the optimal dose of tasquinimod in combination with the standard anti-myeloma regimen of ixazomib, lenalidomide and dexamethasone (IRd). Data from 11 patients so far treated with the combination indicate that adding tasquinimod to IRd shows no unexpected or dose-limiting toxicity and is generally well tolerated. The specific anti-myeloma activity of tasquinimod in this combination is evidenced by three patients with clinical benefit (one partial response and two minimal responses) among the 9 patients who were previously refractory to their most recent combination regimen including a proteasome inhibitor and an immunomodulatory drug. Enrollment in the study continues with a goal of enrolling up to 6 more patients who are refractory to their most recent proteasome inhibitor/immunomodulatory drug combination. Duyuru • Jul 01
Active Biotech Enters Agreement for A Clinical Study of Tasquinimod in Myelofibrosis Active Biotech announced it has entered into a clinical study agreement for a Phase II investigator-initiated clinical study investigating the use of tasquinimod in myelofibrosis. The study will be led by Lucia Masarova, M.D., assistant professor of Leukemia at The University of Texas MD Anderson Cancer Center. Active Biotech will support the study with the Investigational Medicinal Product and related costs. The clinical study, entitled Open Label Phase 2 Study of Tasquinimod in Patients with Primary Myelofibrosis (PMF), Post-Polycythemia Vera Myelofibrosis (Post-PV MF), or Post-Essential Thrombocytosis Myelofibrosis (Post-ET MF), will evaluate the efficacy and safety of tasquinimod in patients with myelofibrosis. The primary objective of the study is to determine the anti-tumor activity of tasquinimod as monotherapy and in combination with a stable dose of ruxolitinib based on the measurement of objective response rate (ORR) after six cycles of treatment. Secondary objectives include safety and tolerability, symptom burden, duration of response and bone marrow fibrosis grade. Duyuru • Apr 03
Active Biotech AB (publ) Announces Start of Enrollment to the Clinical Phase I Biodistribution Study with Laquinimod Eye Drops Active Biotech announced that the clinical phase I biodistribution study Safety, Tolerability, and Distribution of Laquinimod Eye Drops: The LION Study (clinicaltrials.gov NCT06161415) with laquinimod eye drops is now recruiting patients following the approval from the Food and Drug Administration (FDA) and the Institutional Review Board at Stanford University School of Medicine. The LION study will evaluate whether laquinimod reaches the posterior chamber of the eye to support further development in patients with Non-Anterior-Non-Infectious Uveitis (NA-NIU). Subjects will be dosed with laquinimod eye drops before elective vitrectomy and thereafter samples including vitreous, anterior chamber fluid and plasma will be analysed for laquinimod concentration. Active Biotech supports the study with the Investigational Medicinal Product and related costs. The study is supported by preclinical data where laquinimod was shown to distribute into the posterior segment of the eye following daily instillations of laquinimod eye drops. The recently completed phase I clinical study in healthy subjects showed no safety or tolerability concerns with daily instillations up to 21 days. The biodistribution study consists of a dose-escalation part and an optional masked, randomized dose-comparison part. Results from the study will be reported during 2024. Global Ophthalmic Research Center (GORC), Los Altos, CA, US, is the LION study administrative sponsor, and it will be conducted in collaboration with clinician scientists at the Byers Eye Institute, Stanford University, Palo Alto, CA, led by Principal Investigator Professor Quan Dong Nguyen, MD, MSc, FAAO, FARVO, FASRS, Professor of Ophthalmology, Medicine and Pediatrics, Stanford University School of Medicine. Dr. Nguyen is known for his innovative work in early proof-of-concept, first-in-human clinical trials to evaluate potential pharmacotherapeutic agents for retinal vascular and uveitic diseases. He is a member of various prestigious professional organizations including the Club Jules Gonin, the Macula Society, the Retina Society, the American Ophthalmological Society, and the International Uveitis Study Group, among others. He serves as President of the International Ocular Inflammation Society as well as Executive Vice President of the Foster Ocular Immunology Society. Duyuru • Dec 22
Active Biotech AB (Publ) Provides Update on the Scheduled Clinical Program for 2024 Active Biotech AB (publ) announced an update to the timelines of its scheduled clinical studies to be initiated in 2024, backed by the company's recently completed successful financing round. Duyuru • Dec 01
Active Biotech AB (Publ) Appoints Mats Arnhög and Petter Wingstrand to Nomination Committee Active Biotech AB (publ) in accordance with a decision made by the Annual General Meeting held on May 24, 2023, the Nomination Committee shall comprise the representatives for the three largest shareholders by votes, as per end of September 2023, and the Chairman of the Board. The company appointed Mats Arnhög and Petter Wingstrand to Nomination Committee. The Nomination Committee is composed with participants representing the largest shareholders in Active Biotech as of September 30, 2023, and consists of: Michael Shalmi, chairman; Mats Arnhög, MGA Holding; Peter Thelin, Sjuenda Holding; Petter Wingstrand, T-bolaget. Duyuru • Nov 11
Active Biotech AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 51.135046 million. Active Biotech AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 51.135046 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 113,633,436
Price\Range: SEK 0.45
Transaction Features: Rights Offering Duyuru • Aug 01
Active Biotech AB (publ) Enters into Clinical Trial Collaboration Agreement for a Clinical Study with Tasquinimod in Myelofibrosis Active Biotech announced it has entered into a clinical trial collaboration agreement with Stichting Haemato-Oncologie Volwassenen Netherland (HOVON) and Stichting Oncode Institute (Oncode) for the upcoming clinical proof-of-concept trial of tasquinimod in myelofibrosis. HOVON will be the legal sponsor of the trial, Oncode the main financier and Active Biotech will provide tasquinimod study drug to the study. Active Biotech has a global patent license agreement with Oncode Institute, acting on behalf of Erasmus Universiteit Medisch Centrum (Erasmus MC) to develop and commercialize tasquinimod worldwide in myelofibrosis is planned to start in 2023. Myelofibrosis (MF) is a rare blood cancer belonging to a group of disorders called myeloproliferative neoplasms. The underlying cause of MF is unknown. MF is associated with shortened survival and causes of death include bone marrow failure and transformation into acute leukemia. MF can be treated with bone marrow transplantation for eligible individuals, erythropoietin to manage anemia and JAK inhibitors to reduce spleen size. At present there are no approved therapies that would reverse bone marrow fibrosis in MF. Duyuru • May 27
Active Biotech Announces Positive Interim Data from an Ongoing Study with Tasquinimod in Relapsed and Refractory Multiple Myeloma Active Biotech AB (publ) announced that tasquinimod, when given as monotherapy or in combination with ixazomib, lenalidomide and dexamethasone (IRd), has a favourable safety profile in heavily pre-treated patients with a median of 8 previous lines. All 15 patients included in this interim readout were previously refractory to IMiDs, Proteasome Inhibitors (PIs) and CD38 mAbs. With single agent tasquinimod three patients with progressive disease at study entry had stabilization of disease while on study. Of 5 patients treated with tasquinimod in combination with IRd, one patient (20%) has a durable partial response ongoing since April 2022, despite being previously refractory to ixazomib-pomalidomide and carfilzomib-pomalidomide combinations. No dose limiting toxicity was seen in the combination with tasquinimod at 1mg daily after a one week run in at 0.5 mg daily. The study (NCT04405167) which is conducted at Abramson Cancer Center, Perelman School of Medicine, University of Pennsylvania, Philadelphia, PA is ongoing in the dose-escalation cohort investigating the safety, tolerability, and maximum tolerated dose (MTD) of tasquinimod in combination with (IRd). Enrolment into the study continues and an expansion cohort will start once the MTD is established. Duyuru • Jan 31
Active Biotech AB (Publ) Confirms Positive Clinical Safety Profile of Laquinimod Eye Drops Active Biotech AB (publ) announced the completion of the phase I clinical study testing the safety and tolerability of the newly developed laquinimod eye drop formulation in healthy subjects. According to the results, the eye drop was safe and well tolerated both at single ascending doses and after repeated doses for up to 21 days. No serious adverse events were reported. Laquinimod is being developed as a new treatment for inflammatory eye disorders, and preclinical data suggest that laquinimod may have a therapeutic effect when given as a capsule or as a topical treatment onto the eye. The company has developed an eye drop formulation of laquinimod with the aim to use it for treatment initially in patients with non-infectious uveitis. The study was a randomized, double-masked, placebo-controlled phase I study to determine the safety and tolerability and establish a safe and tolerable dose for continued development of laquinimod eye drops after single and repeated dosing in healthy subjects. Secondary aims included the assessment of ocular toxicity and pharmacokinetics of laquinimod. The complete data set from the study is currently being analyzed, and the full study results will be reported in first half of 2023. Breakeven Date Change • Dec 01
Forecast to breakeven in 2024 The analyst covering Active Biotech expects the company to break even for the first time. New forecast suggests the company will make a profit of kr94.0m in 2024. Average annual earnings growth of 98% is required to achieve expected profit on schedule. Duyuru • Sep 28
Active Biotech AB (publ) to Report Fiscal Year 2022 Results on Feb 09, 2023 Active Biotech AB (publ) announced that they will report fiscal year 2022 results on Feb 09, 2023 
