Correction: Active Biotech Year End Report 2021

The correction refers to the administrative costs for the period January – December 2021 that due to oversight have been stated too low. The incorrect amount was SEK 14,0 M, the correct amount is SEK 15,2 M. The error has been discovered in connection with the finalization of the Annual Report 2021, correct figures will be stated in the Annual Report 2021.

FOURTH QUARTER IN BRIEF

In 2021, we made substantial progress in our projects to address unmet medical need in hematological cancers and inflammatory eye disorders. The fourth quarter in particular proved to be a busy period, with continued strong development with all the prioritized projects in our portfolio.

Tasquinimod

Clinical development in multiple myeloma advanced into combination therapy following completion of the initial phase of the ongoing trial in the US (Oct 3)
Preclinical tasquinimod data presented at ASH 2021 (Dec 11-12)

Naptumomab

Active Biotech and NeoTX announced that the first patient had been enrolled in the phase IIa clinical trial of naptumomab estafenatox in combination with docetaxel in patients with advanced non-small cell lung cancer (NSCLC) (Oct 20)
Data on naptumomab estafenatox enhancing CAR-T cells potency presented by Active Biotech’s partner NeoTX at SITC 2021 (Nov 12)

Laquinimod

First subject dosed in phase I clinical study with eye drop formulation of laquinimod (Dec 10)

EVENTS AFTER THE END OF THE PERIOD

Dr. Erik Vahtola appointed Chief Medical Officer (Jan 01)
First patient dosed in the combination part of the Phase Ib/IIa study of tasquinimod in multiple myeloma (Feb 07)
Active Biotech entered into global patent license agreement with Oncode Institute for tasquinimod in myelofibrosis (Feb 9)

Financial summary

SEK M	Oct-Dec			Jan-Dec
	2021	2020	2021		2020

Net sales	–	6,2	–		6,7
Operating profit/loss	-16,1	-4,1	-49,8		-32,3
Profit/loss after tax	-16,2	-4,1	-49,8		-32,2
Earnings per share (SEK)	-0,07	-0,02	-0,24		-0,19
Cash and cash equivalents (at close of period)			53,1		26,2

For further information, please contact:

Helén Tuvesson, CEO Tel: +46 (0)46 19 21 56 Hans Kolam, CFO Tel: +46 (0)46 19 20 44

Active Biotech AB(Corp. Reg. No. 556223-9227)Scheelevägen 22, SE-223 63 LundTel: +46 (0)46 19 20 00

The report is also available at www.activebiotech.com.

This information was submitted for publication, through the agency of the contact person set out above, at 15.30 pm CET on March 25, 2022.

Active Biotech AB (publ) (NASDAQ Stockholm: ACTI) is a biotechnology company that deploys its extensive knowledge base and portfolio of compounds to develop first-in-class immunomodulatory treatments for specialist oncology and immunology indications with a high unmet medical need and significant commercial potential. Following a portfolio refocus, the business model of Active Biotech aims to advance projects to the clinical development phase and then further develop the programs internally or pursue in partnership. Active Biotech currently holds three projects in its portfolio: Naptumomab, a targeted anti-cancer immunotherapy, partnered to NeoTX Therapeutics, is in a phase Ib/II clinical program in patients with advanced solid tumors. The small molecule immunomodulators, tasquinimod and laquinimod, both having a mode of actions that includes modulation of myeloid immune cell function, are targeted towards hematological malignancies and inflammatory eye disorders, respectively. Tasquinimod, is in clinical phase Ib/IIa for treatment of multiple myeloma. Laquinimod is in a clinical phase I study with a topical ophthalmic formulation, to be followed by phase II for treatment of non-infectious uveitis. Please visit www.activebiotech.com for more information.

Attachment