Calliditas Therapeutics AB announced the issuance of 706,676 common shares related to the over-allotment option from its IPO on July 31, 2020. Additionally, 1,185,250 common shares were issued from the conversion of warrants from a 2017 program. The total number of shares and votes in the company now stands at 49,830,334. Calliditas continues to focus on developing treatments for unmet medical needs, especially in renal and hepatic diseases, with its lead product candidate, Nefecon, targeting IgA nephropathy.
Calliditas Therapeutics AB held its annual general meeting on June 25, 2020, in Stockholm, where key resolutions were adopted. The 2019 financial statements were approved, and no dividend will be paid. New board members were elected, with Elmar Schnee re-elected as chairman. Directors' fees were set, including additional remuneration for members based outside the Nordics. The meeting also approved a long-term incentive program for board members and authorized the board to issue new shares, potentially diluting existing shareholders by up to 20%. The articles of association were amended regarding dispute resolution in the U.S.
Citigroup Global Markets has announced stabilization measures for Calliditas Therapeutics' American Depositary Shares (ADSs) listed on Nasdaq. This follows the company's recent U.S. Offering through a capital increase of ADSs, priced at USD 19.50. Stabilization transactions aim to support market prices within the offering period, which ends July 4, 2020. Additionally, an over-allotment option allows Citigroup to sell up to 692,306 ADSs, representing 15% of shares in the Global Offering. No stabilization will occur on Nasdaq Stockholm.