Q2 2024 Flerie AB Earnings Call Transcript
Key Points
- Flerie AB (STU:1NP1) successfully listed on NASDAQ Stockholm, marking a significant milestone for the company.
- The company has a strong financial position with over SEK1 billion in cash and available liquidity to support further value creation.
- Flerie AB has a diversified portfolio with a year-on-year increase in portfolio value of 14% per annum since inception in 2011.
- The company has a robust network of reputable global investors, enhancing its ability to co-invest and support portfolio companies.
- Flerie AB's active ownership model and diversified portfolio approach provide significant risk mitigation in the biotech and pharma space.
- The biotech sector presents significant challenges, including high capital requirements and long development phases.
- The outcome of biotech investments can often be binary, posing a risk to investors.
- The company incurred substantial one-time costs related to its listing process, impacting net asset value per share.
- Some portfolio companies, like Vitaros, faced development delays, leading to a conservative valuation adjustment.
- The commercial growth segment saw a decrease in fair value due to negative share price development for listed companies.
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So, welcome all the new shareholders alike, analysts, media and all who have shown an interest in Flerie Q2 2024 report what an accelerating quarter it has been as you can see from this picture where four of our top five shareholders were represented that (inaudible) , the fourth AP fund, myself and of course, Thomas Eldered, we really did Crown the quarter with the ringing of the bell at the NASDAQ Stockholm on June 27. That is a date, i will always remember. A big thanks to the team and to our advisors for making this happen. We will tell you more about this today.
But first, let's take a step back and introduce Flerie because I think in fact, this is, of course, our very first quarterly report presentation as a listed company and maybe some of you in the audience are not as familiar with us as others. So let us stop there. But first of all, the usual disclaimer, which I'm sure you're all aware of and please act accordingly.
Let me start by saying there is a biotech challenge. The biotech challenges that
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