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OASMIA PHARMACEUTICAL AB: Interim report for the period May - July 2016

Oasmia Pharmaceutical AB
Interim report

Interim report for the period May - July 2016

Additional market approval for Paclical

Uppsala, Sweden, 2016-09-02 08:17 CEST (GLOBE NEWSWIRE) --

FIRST QUARTER May 1 – July 31, 2016

-- Consolidated net sales amounted to TSEK
36 compared to TSEK 219 in the first quarter previous year
-- Operating loss was TSEK 32,343 compared to a loss of TSEK 37,819 in the
first quarter previous year
-- Net loss after tax amounted to TSEK 36,921 compared to a loss of TSEK
39,819 in the first quarter previous year
-- Loss per share was SEK 0.34 compared to a loss of SEK 0.41 in the first
quarter previous year
-- Comprehensive loss was TSEK 36,912 compared to a loss of TSEK 39,804 in the
first quarter previous year
-- Oasmia completes a private placement of new convertible instruments in a
total amount of TSEK 42,000


-- Oasmia has received market approval for French West Africa, administered
through the Ivory Coast

-- Fredrik Gynnerstedt appointed as new CFO


Dear Shareholders,

The first quarter (May 1 – July 31) of the fiscal year 2016/2017 has been
important to our efforts in continuing to form the foundation for success and
increased revenues for the Company and our products.

Oasmia completed a private placement of convertibles amounting to SEK 42
million which provided us with new capital and also creates relationships with
new, long-term investors who share a mutual vision for the Company. This
capital infusion is expected to finance the continued operations and further
advancement of existing and under-development products based on our XR17

Oasmia is committed to identifying long-term partners whose experience and
market comprehension are an ideal fit for the marketing and distribution of
Apealea/Paclical and XR17. We are hosting introductory and in-depth
conversations with multiple potential partners, but recognize the importance of
choosing the right collaborator, a process which is performed meticulously and
therefore may take some time.

Pharmasyntez, our Russian distribution partner, is working hard to market
Paclical in Russia. The feedback has been positive, and our brand becomes more
recognized in the medical community. However, Russian procurement process for
pharmaceuticals is an arduous one that continues to take time and more work is
needed before sales can be achieved.

Oasmia was also the subject of an important Wall Street Journal story about
improving chemotherapy treatments. The story, “Making Chemo More Tolerable”,
highlights the Company’s efforts to develop water-soluble versions of
established cytostatic including docetaxel, and compares the Company’s approach
to that of Celgene and their lead product, Abraxane.

We are pleased with the steps taken this quarter and confident in our
positioning for future growth. We remain focused on developing products for
first class treatments for patients and the medical community. As always, we
thank you for your support and feedback, and look forward to the future

Kind Regards,

Mikael Asp, Chief Executive Officer

Mikael Asp, CEO
Phone: +46 18 50 54 40

Författare SSE

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