Full Press Release Details
Calliditas announces termination of the proposed global offering
Calliditas Therapeutics AB (publ) ("Calliditas")
(Nasdaq OMX - CALTX; Nasdaq - CALT) today announced that despite significant interest, it will not pursue the previously
announced proposed global offering due to deterioration in market conditions.
"This was an opportunistic capital raise against the backdrop
of a strong overall market and communicated support from institutions. However, following the sudden and significant market deterioration
seen yesterday, we no longer believe that it is in the interest of the company and its current shareholders to pursue the financing
at this time," said Ren e Aguiar-Lucander, CEO of Calliditas Therapeutics.
"Calliditas is well capitalized with a cash runway into
Q3 of 2022 and we believe there are financing options which are more attractive than an equity issuance in the present volatile
market circumstances. This decision does not have any impact on the our previously communicated plans with regards to our operations
or development pipeline."
For further information, please contact:
Ren e Aguiar-Lucander, CEO at Calliditas
Tel.: +46 722 52 10 06, e-mail: renee.lucander@calliditas.com
Marie Galay, Corporate Communications and IR
Tel.: +44 7955 129 845, e-mail: marie.galay@calliditas.com
The information in the press release is information that
Calliditas is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication,
through the agency of the contact persons above, on January 28, 2021 at 2:40 p.m (CET).
Calliditas Therapeutics is a specialty pharmaceutical company
based in Stockholm, Sweden focused on identifying, developing and commercializing novel treatments in orphan indications, with
an initial focus on renal and hepatic diseases with significant unmet medical needs. Calliditas' lead product candidate,
Nefecon, is a proprietary, novel oral formulation of budesonide, an established, highly potent local immunosuppressant, for the
treatment of the autoimmune renal disease IgA nephropathy, or IgAN, for which there is a high unmet medical need and there are
no approved treatments. Calliditas is running a global Phase 3 study within IgAN and, if approved, aims to commercialize Nefecon
in the United States. Calliditas is also planning to conduct clinical trials with NOX inhibitors in PBC and oncology. Calliditas
is listed on Nasdaq Stockholm (ticker: CALTX) and The Nasdaq Global Select Market (ticker: CALT).
Safe Harbor/Forward-Looking Statements
This announcement contains forward-looking statements, including
as to the Company's capital requirements and expected cash runway. These statements are based on expectations in light of the information
that is currently available, as well as assumptions that are subject to risks and uncertainties that could cause actual results
to differ materially from such statements. These risks and uncertainties include, but are not limited to, domestic and international
economic conditions, industry and market conditions, and changes of interest rate and currency exchange rate, in general, and completion
and discontinuation of clinical trials, obtaining regulatory approvals, claims and concerns about product safety and efficacy,
technological advances, domestic and foreign healthcare reforms, and changes of laws and regulations, in particular, with respect
to Nefecon and setanaxib. Calliditas disclaims any intention or obligation to update or revise any forward-looking statements whether
as a result of new information, future events or otherwise. This announcement contains information on pharmaceuticals (including
pharmaceuticals under development) but is not intended to, and does not, make any representations, warranties or claims regarding
the efficacy or effectiveness of these pharmaceuticals or provide medical advice of any kind.