0001410578-22-001814 | 6-K | XBRL Viewer | Calliditas Therapeutics AB

Print Document View Excel Document

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2022
Ifrs Statement [Line Items]
Document Type	6-K
Entity Registrant Name	Calliditas Therapeutics AB
Entity Central Index Key	0001795579
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Period End Date	Mar. 31, 2022
Amendment Flag	false

Consolidated Statements of Income - SEK (kr) kr in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021
Condensed Consolidated Statements of Income
Net sales		kr 229,347
Gross profit		229,347
Research and development expenses	kr (90,077)	(357,485)
Marketing and selling expenses	(19,426)	(179,603)
Administrative expense	(39,353)	(210,630)
Other operating income		259
Other operating expenses	(1,925)	(6,344)
Operating loss	(150,781)	(524,456)
Net financial income/(expenses)	14,607	11,083
Loss before income tax	(136,174)	(513,373)
Income tax	3,302	3,836
Loss for the period	(132,872)	(509,537)
Attributable to:
Equity holders of the Parent Company	(130,870)	(500,293)
Non-controlling interests	kr (2,002)	kr (9,244)
Loss per share
Loss per share before and after dilution (SEK)	kr (2.62)	kr (9.84)

Consolidated Statements of Comprehensive Income - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Condensed Consolidated Statements of Comprehensive Income
Loss for the period	kr (207,047)	kr (132,872)	kr (509,537)
Other comprehensive income/(loss) that may be reclassified to profit or loss in subsequent periods:
Exchange differences on translation of foreign operations	(1,200)	6,277	(20,111)
Other comprehensive income/(loss) that may be reclassified to profit or loss in subsequent periods	(1,200)	6,277	(20,111)
Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods:
Remeasurement gain on defined benefit plans	1,294	1,416	1,993
Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods	1,294	1,416	1,993
Other comprehensive income/(loss) for the period	94	7,693	(18,118)
Total comprehensive income/(loss) for the period	(206,954)	(125,179)	(527,655)
Attributable to:
Equity holders of the Parent Company	kr (206,954)	(124,115)
Non-controlling interests		kr (1,064)	kr (8,466)

Consolidated Statements of Financial Position - SEK (kr) kr in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Non-current assets
Intangible assets			kr 426,854
Equipment	kr 6,793	kr 6,309	332
Right-of-use assets	30,720	33,300	5,547
Non-current financial assets	5,842	3,915	2,230
Deferred tax assets	3,557	4,196	506
Total non-current assets	447,862	447,138	435,469
Current assets
Inventories	1,133	889
Accounts receivables	6,328
Other current receivables	12,965	11,343	30,032
Prepaid expenses and accrued income	50,644	45,032	10,489
Cash	825,409	955,507	867,346
Total current assets	896,478	1,012,772	907,867
TOTAL ASSETS	1,344,340	1,459,910	1,343,336
Equity
Share capital	2,094	2,094	1,998
Additional paid-in capital	2,529,556	2,459,741	2,135,476
Retained earnings including net loss for the period	(1,660,507)	(1,453,554)	(1,047,929)
Equity attributable to equity holders of the Parent Company	871,142	1,008,281	1,089,545
Non-controlling interests			36,238
Total equity	871,142	1,008,281	1,125,783
Non-current liabilities
Provisions	9,220	17,712	13,293
Contingent consideration	56,300	54,399	50,683
Deferred tax liabilities	26,112	30,856	35,047
Non-current interesting-bearing liabilities	192,632	189,164
Lease liabilities	21,859	24,052	1,319
Total non-current liabilities	306,123	316,183	100,342
Current liabilities
Accounts payable	100,051	67,971	57,660
Other current liabilities	14,098	13,922	6,712
Accrued expenses and deferred revenue	52,926	53,553	52,839
Total current liabilities	167,075	135,446	117,211
TOTAL EQUITY AND LIABILITIES	kr 1,344,340	kr 1,459,910	kr 1,343,336

Condensed Consolidated Statements of Changes in Equity kr in Thousands	SEK (kr)
Opening balance equity attributable to equity holders of the Parent Company at Dec. 31, 2020	kr 1,210,491
Loss for the period	(130,870)
Other comprehensive income/(loss)	6,755
Total comprehensive income/(loss) for the period attributable to equity holders of the Parent Company	(124,115)
Transactions with owners:
Cost attributable to new share issue	(982)
Share-based payments	3,278
Purchase of non-controlling interests	872
Total transactions with owners	3,169
Closing balance equity attributable to equity holders of the Parent Company at Mar. 31, 2021	1,089,545
Transactions with owners:
Total comprehensive loss for the period	(1,064)
Contribution from non-controlling interests	2,282
Purchase of non-controlling interests	(10,789)
Closing balance equity attributable to non-controlling interests at Mar. 31, 2021	36,238
Closing balance equity at Mar. 31, 2021	1,125,783
Opening balance equity attributable to equity holders of the Parent Company at Dec. 31, 2020	1,210,491
Loss for the period	(500,293)
Other comprehensive income/(loss)	(18,897)
Transactions with owners:
New share issue	324,000
Cost attributable to new share issue	(20,909)
Share-based payments	23,567
Purchase of non-controlling interests	(9,678)
Total transactions with owners	316,980
Closing balance equity attributable to equity holders of the Parent Company at Dec. 31, 2021	1,008,281
Transactions with owners:
Total comprehensive loss for the period	(8,466)
Contribution from non-controlling interests	2,282
Purchase of non-controlling interests	(39,625)
Closing balance equity at Dec. 31, 2021	1,008,281
Loss for the period	(207,047)
Other comprehensive income/(loss)	94
Total comprehensive income/(loss) for the period attributable to equity holders of the Parent Company	(206,954)
Transactions with owners:
Exercise of warrants	61,713
Share-based payments	8,103
Total transactions with owners	69,815
Closing balance equity attributable to equity holders of the Parent Company at Mar. 31, 2022	871,142
Closing balance equity at Mar. 31, 2022	kr 871,142

Consolidated Statements of Cash Flows - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Operating activities
Operating loss	kr (208,367)	kr (150,781)	kr (524,456)
Adjustments for non-cash items	5,067	5,007	66,676
Interest received			102
Interest paid	(5,408)	(154)	(5,432)
Income taxes paid			(3,949)
Cash flow from operating activities before changes in working capital	(208,708)	(145,928)	(467,058)
Cash flow from changes in working capital
Cash flow from/(used in) changes in working capital	(17,285)	(11,749)	(5,470)
Cash flow used in operating activities	(191,423)	(134,179)	(461,588)
Investing activities
Cash flow from investing activities	(2,651)	(199)	(24,340)
Financing activities
New share issue			324,000
Costs attributable to new share issue		(982)	(20,909)
Exercise of warrants	61,713
Purchase of non-controlling interests		(9,917)	(49,303)
Contribution from non-controlling interest		2,282	2,282
New borrowings			199,524
Costs attributable to new loans			(14,857)
Repayment of lease liabilities	(1,658)	(1,010)	(5,575)
Cash flow from/(used in) financing activities	60,054	(9,627)	435,162
Net increase/(decrease) in cash	(134,020)	(144,005)	(50,766)
Cash at beginning of the year	955,507	996,304	996,304
Net foreign exchange gains/(loss) on cash	3,921	15,047	9,969
Cash at the end of the year	kr 825,408	kr 867,346	kr 955,507

Condensed Parent Company Statements of Income - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Net sales	kr 49,734		kr 229,347
Cost of goods sold	614
Gross profit	49,119		229,347
Research and development expenses	(113,343)	kr (90,077)	(357,485)
Marketing and selling expenses	(93,897)	(19,426)	(179,603)
Administrative expense	(48,532)	(39,353)	(210,630)
Other operating income	765		259
Other operating expenses	(2,479)	(1,925)	(6,344)
Operating loss	(208,367)	(150,781)	(524,456)
Profit/(loss) from financial items
Net financial income/(expenses)	(3,068)	14,607	11,083
Loss before income tax	(211,434)	(136,174)	(513,373)
Income tax	4,387	3,302	3,836
Loss for the period	(207,047)	(132,872)	(509,537)
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net sales	31,771		229,347
Cost of goods sold	(614)
Gross profit	31,157		229,347
Research and development expenses	(103,681)	(72,150)	(275,950)
Marketing and selling expenses	(24,407)		(151,125)
Administrative expense	(44,344)	(54,553)	(226,349)
Other operating income	39,895		70,234
Other operating expenses	(1,153)	(1,237)	(1,874)
Operating loss	(102,534)	(127,940)	(355,718)
Profit/(loss) from financial items
Net financial income/(expenses)	(3,396)	15,126	1,312
Loss before income tax	(105,929)	(112,814)	(354,405)
Loss for the period	kr (105,929)	kr (112,814)	kr (354,405)

Condensed Parent Company Statements of Comprehensive Income - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Loss for the period	kr (207,047)	kr (132,872)	kr (509,537)
Other comprehensive income/(loss)	94	7,693	(18,118)
Total comprehensive income/(loss) for the period	(206,954)	(125,179)	(527,655)
Parent Company
Condensed Financial Statements, Captions [Line Items]
Loss for the period	(105,929)	(112,814)	(354,405)
Total comprehensive income/(loss) for the period	kr (105,929)	kr (112,814)	kr (354,405)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2021-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2021-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2021-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2021-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2021-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2021-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2021-03-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2021-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2021-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2021-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_23&doctype=Standard
-URIDate 2021-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
-Number 17
-IssueDate 2021-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2021-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2021-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2021-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2021-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2021-03-24

+ Details

Condensed Parent Company Balance Sheet - SEK (kr) kr in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Non-Current Financial Assets
Non-current financial assets	kr 5,842	kr 3,915	kr 2,230
Total non-current assets	447,862	447,138	435,469
Current assets
Inventories	1,133	889
Other current receivables	12,965	11,343	30,032
Prepaid expenses and accrued income	50,644	45,032	10,489
Cash	825,409	955,507	867,346
Total current assets	896,478	1,012,772	907,867
Restricted shareholders' equity
Share capital	2,094	2,094	1,998
Non-restricted shareholders' equity
Retained earnings	(1,660,507)	(1,453,554)	(1,047,929)
Total equity	871,142	1,008,281	1,125,783
Non-current liabilities
Non-current interesting-bearing liabilities	192,632	189,164
Total non-current liabilities	306,123	316,183	100,342
Current liabilities
Accounts payable	100,051	67,971	57,660
Other current liabilities	14,098	13,922	6,712
Total current liabilities	167,075	135,446	117,211
TOTAL EQUITY AND LIABILITIES	1,344,340	1,459,910	1,343,336
Parent Company
Intangible Assets
Intangible assets	32,132	32,132	16,066
Tangible Assets
Equipment	735	514	74
Non-Current Financial Assets
Non-current financial assets	645,442	552,924	357,902
Total non-current assets	678,309	585,570	374,042
Current assets
Inventories	1,133	889
Other current receivables	16,020	5,699	14,536
Prepaid expenses and accrued income	37,622	41,825	9,695
Cash	753,407	894,455	828,360
Total current assets	808,182	942,868	852,591
TOTAL ASSETS	1,486,491	1,528,439	1,226,633
Restricted shareholders' equity
Share capital	2,094	2,094	1,998
On-going issue of shares	33
Statutory reserve	3,092	3,092	3,092
Total Restricted shareholders' equity	5,219	5,186	5,090
Non-restricted shareholders' equity
Share premium reserve	2,484,537	2,420,698	2,116,721
Retained earnings	(1,211,638)	(863,175)	(883,463)
Net loss for the period	(105,929)	(354,405)	(112,814)
Total non-restricted shareholders' equity	1,166,970	1,203,117	1,120,444
Total equity	1,172,189	1,208,303	1,125,534
Non-current liabilities
Provisions	5,128	9,075	4,664
Non-current interesting-bearing liabilities	192,632	189,164
Other non-current liabilities	105	105	105
Total non-current liabilities	197,865	198,344	4,769
Current liabilities
Accounts payable	67,306	51,711	49,711
Other current liabilities	18,101	33,466	7,181
Accrued expenses and deferred revenue	31,031	36,615	39,438
Total current liabilities	116,438	121,792	96,330
TOTAL EQUITY AND LIABILITIES	kr 1,486,491	kr 1,528,439	kr 1,226,633

Description of Business

3 Months Ended

Mar. 31, 2022

Description of Business

Description of Business

Note 1 - Description of Business

Calliditas Therapeutics AB (publ) (“Calliditas” or the “Parent Company”), with corporate registration number 556659-9766, and its subsidiaries (collectively, the “Group”) conducts commercial and development activities in pharmaceuticals. These interim condensed consolidated financial statements encompass the Group, domiciled in Stockholm, Sweden, and its subsidiaries for the three months ended March 31, 2022 and 2021, respectively.

Calliditas is a Swedish public limited company registered in and with its registered office in Stockholm. The registered address of the corporate headquarters is Kungsbron 1, D5, Stockholm, Sweden. Calliditas is listed at Nasdaq Stockholm in the Mid Cap segment with ticker “CALTX” and, in the form of ADSs, on the Nasdaq Global Select Market in the United States with the ticker “CALT”.

These interim condensed consolidated financial statements were approved by the Board of Directors (the “Board”) for publication on May 18, 2022.

This report may include forward-looking statements. Actual outcomes may deviate from what has been stated. Internal factors such as successful management of research projects, and intellectual property rights may affect future results. There are also external conditions, (e.g. the economic climate, political changes, and competing research projects) that may affect the Group’s results.

Accounting Policies

3 Months Ended

Mar. 31, 2022

Accounting Policies

Accounting Policies

Note 2 - Accounting Policies

These interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standard No. 34 (IAS 34), “Interim Financial Reporting”. The Parent Company applies the Swedish Financial Reporting Board recommendation RFR2, Accounting for legal entities. None of the new or amended standards and interpretations that became effective January 1, 2022, have had a significant impact on the Group’s financial reporting. Significant accounting principles can be found on pages 41-46 of the Annual Report for 2021.

The ESMA (European Securities and Markets Authority) guidelines on alternative key performance ratios are applied, which means disclosure requirements regarding financial measures that are not defined in accordance with IFRS. For key ratios not defined by IFRS, see the Definitions and reconciliations of alternative performance measures on page 30.

Risks and Uncertainties in the Group and the Parent Company

3 Months Ended

Mar. 31, 2022

Risks and Uncertainties in the Group and the Parent Company

Risks and Uncertainties in the Group and the Parent Company

Note 3 - Risks and Uncertainties in the Group and the Parent Company

Operational Risks

Research and drug development up to approved registration is subject to considerable risk and is a capital-intensive process. The majority of all initiated projects will never reach market registration due to the technological risk such as the risk for insufficient efficacy, intolerable side effects or manufacturing problems. Competing pharmaceuticals can capture market share or reach the market faster, or if competing research projects achieve better product profiles, the future value of the product portfolio may be lower than expected. The operations may also be impacted negatively by regulatory decisions, such as lack of approvals and price changes.

Calliditas has a product in the commercial phase, TARPEYO, which has been approved for marketing in the U.S.. There is a risk that commercialization will not go accoring to plan or that the uptake of prescribing physicians will be worse than planned or that the drug will not have sufficient effect or show unwanted side effects, which may affect the sales negatively.

COVID-19

The COVID-19 virus has rapidly spread from an initial event and infections have been reported globally. Calliditas has clinical trial sites based in areas currently affected by this coronavirus. Calliditas has not yet experienced any major disturbances in the trials. The extent to which the coronavirus impacts the operations and the trials, or any planned trials for Nefecon or setanaxib, will depend on the type, degree and duration of the various restrictions put in place to contain the virus or treat those affected. This today varies in different geographies, and future developments cannot be predicted with reasonable assurance.

The pandemic may negatively impact our trial as a result of disruptions, such as travel bans, quarantines, and inability of patients to access the trial sites and provide samples as well as interruptions in the supply chain, which could result in delays and impact on the data integrity of the trial. The impact of the coronavirus outbreak for Calliditas have been limited so far, but the continued spread of the coronavirus globally, may negatively impact our operations, including our trials. It could also negatively affect the operations of key governmental agencies, such as the FDA and EMA, which may delay the development of our product candidates, or could result in the inability of our suppliers to deliver components or raw materials on a timely basis, each of which in turn could have a negative impact on our business and results of operations.

Financial Risks

Calliditas’ financial policy governing the management of financial risks has been designed by the Board of Directors and represents the framework of guidelines and rules in the form of risk mandated and limits for financial activities. The Group is primarily affected by foreign exchange risk, since the development costs for Nefecon and setanaxib are mainly paid in USD and EUR. Further, the Group maintains cash in USD and EUR to meet future expected costs in USD and EUR in connection with commercialization of TARPEYO in the United States and the clinical development programs. Regarding the Group and the Parent Company’s financial risk management, the risks are essentially unchanged compared with the description in the Annual Report for 2021.

For more information and full disclosure regarding the operational- and financial risks, reference is made to the Annual Report for 2021 and the Annual Report on Form 20-F, filed with the SEC in April 2022.

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2022

Revenue from Contracts with Customers

Revenue from Contracts with Customers

Note 4 - Revenue from Contracts with Customers


	Three Months Ended		Year Ended
	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Type of good or service
Product sales	17,963	—	—
Outlicensing of the product candidate	28,804	—	225,252
Performance of certain regulatory services	2,967	—	4,095
Total	49,734	—	229,347

Geographical markets
USA	17,963	—	—
Europe	2,967	—	201,878
Asia	28,804	—	27,469
Total	49,734	—	229,347

The Group’s revenues for the first quarter 2022 primarily originates from a USD 3.0 million milestone fee from Everest Medicines related to the out-licencing of the commercial rights of Nefecon for the South Korea territory and SEK 18.0 million in TARPEYO product sales in the U.S.

Revenue from product sales is recognized at the transaction price of goods sold excluding VAT, rebates and returns. At the time of delivery, when the control of the goods passes to the customer, the revenue is recognized in full, as this represents the single performance obligation in the transaction. The customer is defined as the specialty pharmaceutical who dispenses the good to the end user. As the final price is related to the rebate paid to the patients' insurance company, the transaction price is not known upon delivery. This is regulated by an accrued estimated rebate deduction in the Group based on calculation models considering statistical data, actual amounts incurred and/or historical trends. These liabilities for expected returns and rebates are based on estimates of the amounts earned or to be claimed on the related sales. Furthermore, the Group estimates the liability for expected returns of obsolete medicines that is recognized in the accounts. The total liability for expected retur and rebates amounts to SEK 1.8 million. In addition, there are no other performance obligations.

Revenue attributable to out-licensing Nefecon consisted of the agreement with STADA for Europe and the expansion of Everest Medicine to South Korea. Revenue for out-licensing is recognized at a point in time, which occurs when control over the intangible asset is transferred to the counterparty, which was at the time when the agreements with both parties was signed. Variable remuneration (for example, attributable to future regulatory milestones) is recognized when there is no longer any significant uncertainty as to whether these will occur. Compensation attributable to sales-based milestones or royalties are not recognized until the sale that results in the right to milestones or royalties arises.

Calliditas have identified three performance obligations under the agreement with STADA: 1) Out-licensing of the product candidate Nefecon as is at the time of signing, 2) Contractual obligation to perform the regulatory process with the EMA to obtain Conditional Regulatory Approval and 3) The obligation to supply Nefecon. The share of the transaction amount attributable to the EMA regulatory process has not been recognized as revenue and has been calculated based on the estimated cost to finish this process. The proportion attributable to out-licensing has been calculated as a residual of the remaining transaction price after deduction of other performance obligations, since the product candidate has not been approved for market by the regulatory authorities and no commercial pricing occur. Calliditas has completed all the performance obligations within the agreement with Everest Medicines.

Related Party Transactions

3 Months Ended

Mar. 31, 2022

Related Party Transactions

Related Party Transactions

Note 5 - Related-Party Transactions

During the reporting period, no significant related-party transactions have taken place. For information about incentive programs please see Note 10.

Intangible Assets

3 Months Ended

Mar. 31, 2022

Intangible Assets

Intangible Assets

Note 6 - Intangible Assets


	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Cost at opening balance	427,393	418,825	418,825
Acquisition license	—	—	16,066
Exchange difference on translation	1,533	8,029	(7,498)
Cost at closing balance	428,926	426,854	427,393

Amortisation and impairment at closing balance	(27,975)	—	(27,975)

Net book value	400,951	426,854	399,418

Intangible assets consist of licenses and similar rights of SEK 363.6 million and goodwill of SEK 37.4 million as of March 31, 2022. As of March 31, 2021, intangible assets consist of licenses and similar rights of SEK I completed 388.1 million and goodwill of SEK 38.7 million.

Deferred Tax Liabilities

3 Months Ended

Mar. 31, 2022

Deferred Tax Liabilities

Deferred Tax Liabilities

Note 7 - Deferred Tax Liabilities


	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Cost at opening balance	30,857	37,454	37,454
Tax loss carried forward	(5,135)	(3,431)	(5,065)
Exchange difference on translation	390	1,024	(1,532)
Cost at closing balance	26,112	35,047	30,857

Tax loss carried forward of SEK 20.3 million have been offset against deferred tax liabilities in the statement of financial position as of March 31, 2022 due to future temporary differences that such losses can be used to offset.

Financial Instruments

3 Months Ended

Mar. 31, 2022

Financial Instruments

Financial Instruments

Note 8 - Financial Instruments

The Group’s financial assets comprise of non-current financial assets, accounts receivables and cash, which are recognized at amortized cost. The Group’s financial liabilities comprise of contingent consideration, non-current interest-bearing liabilities, lease liabilities, accounts payable and other current liabilities, all of which except contingent consideration, are recognized at amortized cost. Contingent considerations are recognized at fair value, measured at Level 3 of the IFRS value hierarchy. The carrying amount is an approximation of the fair value.

Shareholders' Equity

3 Months Ended

Mar. 31, 2022

Shareholders' Equity

Shareholders' Equity

Note 9 - Shareholders’ Equity


	March 31,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2022	2021	2021

Total registered shares at the beginning of the period	52,341,584	49,941,584	49,941,584
New issue of shares during the period	—	—	2,400,000
Outstanding of shares during the period	830,586	—	—
Total registered and outstanding shares at the end of the period	53,172,170	49,941,584	52,341,584

Share capital at the end of the period	2,094	1,998	2,094

Equity attributable to equity holders of the Parent Company	871,142	1,089,545	1,008,281
Non-controlling interests	—	36,238	—
Equity at the end of the period	871,142	1,125,783	1,008,281


	Three Months Ended		Year Ended
	March 31,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2022	2021	2021

Loss per share before and after dilution, SEK	(3.95)	(2.62)	(9.84)
Weighted-average number of shares outstanding for the period, before and after dilution	52,381,402	49,941,584	50,829,255

Reserves for translation from foreign operations amounted to (SEK 1.2 million) and SEK 6.3 million which are included in equity as of March 31, 2022 and 2021, respectively.

As of March 31, 2022, there was an on-going issue of shares of 830,586 common shares under registration, which referred to the exercise of the Warrant Program 2018/2022. Regarding the calculation of the weighted-average number of shares outstanding for the period, shares in on-going issue of shares have been taken into account.

Incentive Programs

3 Months Ended

Mar. 31, 2022

Incentive Programs

Incentive Programs

Note 10 - Incentive Programs


	Warrants	Options	Share Awards	Total Outstanding as of
	Outstanding	Outstanding	Outstanding	March 31, 2022
Incentive Programs
Warrant program 2019/2022	422,500	—	—	422,500
Board LTIP 2019	—	—	51,399	51,399
Board LTIP 2020	—	—	31,371	31,371
Board LTIP 2021	—	—	26,968	26,968
ESOP 2020	—	1,444,000	—	1,444,000
ESOP 2021	—	1,495,000	—	1,495,000
Total Outstanding as of March 31, 2022	422,500	2,939,000	109,738	3,471,238


	Warrants	Options	Share Awards	Total Outstanding as
	Outstanding	Outstanding	Outstanding	of March 31, 2021
Incentive Programs
Warrant program 2018/2022	856,586	—	—	856,586
Warrant program 2019/2022	422,500	—	—	422,500
Board LTIP 2019	—	—	51,399	51,399
Board LTIP 2020	—	—	31,371	31,371
ESOP 2020	—	1,485,000	—	1,485,000
Total Outstanding as of March 31, 2021	1,279,086	1,485,000	82,770	2,846,856

Warrant Program 2018/2022:

The warrants in Warrant Program 2018/2022 may be exercised from January 1, 2022 until March 31, 2022 and each warrant will entitle the participant to subscribe for one new share in the Parent Company at a subscription price of SEK 74.30 per share. The warrants have, at the time of issue, been valued according to the Black & Scholes valuation model. As of March 31, 2022, 856,586 warrants have been exercised.

Warrant Program 2019/2022:

The warrants in the Warrant Program 2019/2022 can be exercised between October 1, 2022 and December 31, 2022, where each warrant gives the participant the right to subscribe for a new share in the Parent Company at a subscription price of SEK 74.50 per share. The warrants have, at the time of issue, been valued according to the Black & Scholes valuation model.

Board LTIP 2019:

This is a performance-based long-term incentive program for some members of Calliditas’ board. A total of 51,399 share awards were granted under the program during the second quarter of 2019. The share awards are subject to performance-based earnings, which is dependent on the development of Calliditas’ share price from the date of the 2019 Annual General Meeting (“AGM”) to June 1, 2022.

Board LTIP 2020:

This is a performance-based long-term incentive program for Calliditas Board members. A total of 31,371 share awards were granted under the program during the second quarter of 2020. The share awards are subject to performance-based earnings, which is dependent on the development of Calliditas’ share price from the date of the 2020 Annual General Meeting to July 1, 2023.

Board LTIP 2021:

This is a performance-based long-term incentive program for Calliditas Board members. A total of 26,968 share awards were granted under the program during the second quarter of 2021. The share awards are subject to performance-based earnings, which is dependent on the development of Calliditas’ share price from the date of the 2021 Annual General Meeting to July 1, 2024.

ESOP 2020:

In 2020, Calliditas implemented an option program for employees and key consultants in Calliditas. The options were allotted free of charge to participants of the program. The options have a three-year vesting period calculated from the allotment date, provided that, with customary exceptions, the participants remain as employees of, or continue to provide services to, Calliditas. Once the options are vested, they can be exercised within a one-year period. Each vested option entitles the holder to acquire one share in Calliditas at a predetermined price. The price per share is to be equivalent to 115% of the weighted average price that the company’s shares were traded for on Nasdaq Stockholm during the ten trading days preceding the allotment date. The options have, at the time of issue, been valued according to the Black & Scholes valuation model.

ESOP 2021:

In 2021, Calliditas implemented an option program for employees and key consultants in Calliditas. The options were allotted free of charge to participants of the program. The options have a three-year vesting period calculated from the allotment date, provided that, with customary exceptions, the participants remain as employees of, or continue to provide services to, Calliditas. Once the options are vested, they can be exercised within a one-year period. Each vested option entitles the holder to acquire one share in Calliditas at a predetermined price. The price per share is to be equivalent to 115% of the weighted average price that the company’s shares were traded for on Nasdaq Stockholm during the ten trading days preceding the allotment date. The options have, at the time of issue, been valued according to the Black & Scholes valuation model.

Non-current interest-bearing liabilities

3 Months Ended

Mar. 31, 2022

Non-current interest-bearing liabilities

Non-current interest-bearing liabilities

Note 11 - Non-current interest-bearing liabilities


	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Opening balance	189,164	—	—
New borrowings	—	—	199,524
Transaction costs paid	—	—	(14,858)
Interest expense	1,196	—	2,145
Exchange difference on translation	2,271	—	2,353
Closing balance	192,632	—	189,164

In July 2021, Calliditas signed a loan agreement of up to the euroequivalent of USD 75 million with Kreos Capital. The loan facility is divided into three tranches of USD 25 million each. Drawdown of the first USD 25 million tranche was made in 2021. Drawdown of the second tranche of USD 25 million can be made until June 30, 2022. Drawdown of the third and final USD 25 million tranche can be made until December 31, 2022, and will be available subject to certain revenue milestones and coverage metrics. The interest rate on the loan is 9% per annum with a maturity to December 2025, which is recognized at Net financial income/(expenses). The loan has no financial covenants.

Change of presentation of expenses and IFRS 3 adjustment

3 Months Ended

Mar. 31, 2022

Change of presentation of expenses and IFRS 3 adjustment

Change of presentation of expenses and IFRS 3 adjustment

Note 12 - Change of presentation of expenses and IFRS 3 adjustment

Change of Presentation of Expenses

From January 1, 2022, Calliditas has switched to presenting marketing and selling expenses seperately from administrative expenses. The purpose of the change is to provide more relevant information about the Group’s and the Parent Company’s financial results, and follow the practice in the industry for a company in commercial stage. The change constitutes a voluntary change and is applied with full retroactivity.

Update of Purchase Price Allocation

The fair value of the acquired assets and assessed liabilities for the acquisition of Calliditas Therapeutics Suisse S.A in 2020 was preliminarily established for the first 12 months and have thereafter been finalized in 2021. The fair value of the acquisitions of Calliditas Therapeutics Suisse S.A have changed due to allocation of assets and liabilities to Switzerland and therefore IFRS adjustments were made to the acquisition values. The effects of the change in the statement of income for the preceding periods are shown below:


	Three Months Ended March 31,				Year Ended December 31,
(SEK in thousands)	2021	Adjustment	Re-classification	2021	2021	Re-classification	2021

Net sales	—	—	—	—	229,347	—	229,347
Operating expenses
Research and development expenses	(90,076)	—	—	(90,076)	(357,485)	—	(357,485)
Marketing and selling expenses	—	—	(19,426)	(19,426)	—	(179,603)	(179,603)
Administrative expenses	(58,779)	—	19,426	(39,353)	(390,232)	179,603	(210,629)
Other operating income/expenses	(1,925)	—	—	(1,925)	(6,085)	—	(6,085)
Operating loss	(150,781)	—	—	(150,781)	(524,456)	—	(524,456)
Net financial income/(expenses)	14,607	—	—	14,607	11,083	—	11,083
Loss before income tax	(136,174)	—	—	(136,174)	(513,373)	—	(513,373)
Income tax	9,305	(6,004)	—	3,302	3,836	—	3,836
Loss for the period	(126,869)	(6,004)	—	(132,872)	(509,537)	—	(509,537)

The below table describes the adjustment for the three months ended March 31, 2021, compared to what prior has been published for the same period, regarding the statements of financial position from the finalization of the fair value.


	March 31,
(SEK in thousands)	2021	Adjustment	2021

ASSETS
Non-current assets
Other intangible assets	377,469	(33,942)	343,527
Goodwill	48,194	(9,448)	38,746
Other non-current assets	53,195	—	53,195
Total non-current assets	478,859	(43,390)	435,469

Current assets	907,867	—	907,867
TOTAL ASSETS	1,386,726	(43,390)	1,343,336

EQUITY AND LIABILITIES
Equity
Share capital	1,998	—	1,998
Additional paid in capital	2,135,476	—	2,135,476
Retained earnings, including net loss for the period	(1,042,133)	(5,796)	(1,047,929)
Equity attributable to equity holders of the Parent Company	1,095,341	(5,796)	1,089,545
Non-controlling interests	36,834	(596)	36,238
Total equity	1,132,175	(6,392)	1,125,783

Non-current liabilities
Deferred tax liabilities	72,045	(36,998)	35,047
Other non-current liabilities	65,295	—	65,295
Total non-current liabilities	137,340	(36,998)	100,342

Current liabilities	117,211	—	117,211
TOTAL EQUITY AND LIABILITIES	1,386,726	(43,390)	1,343,336

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2022

Accounting Policies

Accounting policies followed in interim financial statements

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contracts with Customers

Schedule of revenue


	Three Months Ended		Year Ended
	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Type of good or service
Product sales	17,963	—	—
Outlicensing of the product candidate	28,804	—	225,252
Performance of certain regulatory services	2,967	—	4,095
Total	49,734	—	229,347

Geographical markets
USA	17,963	—	—
Europe	2,967	—	201,878
Asia	28,804	—	27,469
Total	49,734	—	229,347

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Intangible Assets

Schedule of intangible assets and impairment testing


	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Cost at opening balance	427,393	418,825	418,825
Acquisition license	—	—	16,066
Exchange difference on translation	1,533	8,029	(7,498)
Cost at closing balance	428,926	426,854	427,393

Amortisation and impairment at closing balance	(27,975)	—	(27,975)

Net book value	400,951	426,854	399,418

Deferred Tax Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Deferred Tax Liabilities

Summary of change in deferred tax


	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Cost at opening balance	30,857	37,454	37,454
Tax loss carried forward	(5,135)	(3,431)	(5,065)
Exchange difference on translation	390	1,024	(1,532)
Cost at closing balance	26,112	35,047	30,857

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Shareholders' Equity

Schedule of Share capital and other contributed capital


	March 31,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2022	2021	2021

Total registered shares at the beginning of the period	52,341,584	49,941,584	49,941,584
New issue of shares during the period	—	—	2,400,000
Outstanding of shares during the period	830,586	—	—
Total registered and outstanding shares at the end of the period	53,172,170	49,941,584	52,341,584

Share capital at the end of the period	2,094	1,998	2,094

Equity attributable to equity holders of the Parent Company	871,142	1,089,545	1,008,281
Non-controlling interests	—	36,238	—
Equity at the end of the period	871,142	1,125,783	1,008,281

Schedule of Earnings per share


	Three Months Ended		Year Ended
	March 31,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2022	2021	2021

Loss per share before and after dilution, SEK	(3.95)	(2.62)	(9.84)
Weighted-average number of shares outstanding for the period, before and after dilution	52,381,402	49,941,584	50,829,255

Incentive Programs (Tables)

3 Months Ended

Mar. 31, 2022

Incentive Programs

Schedule of total cost of outstanding incentive programs


	Warrants	Options	Share Awards	Total Outstanding as of
	Outstanding	Outstanding	Outstanding	March 31, 2022
Incentive Programs
Warrant program 2019/2022	422,500	—	—	422,500
Board LTIP 2019	—	—	51,399	51,399
Board LTIP 2020	—	—	31,371	31,371
Board LTIP 2021	—	—	26,968	26,968
ESOP 2020	—	1,444,000	—	1,444,000
ESOP 2021	—	1,495,000	—	1,495,000
Total Outstanding as of March 31, 2022	422,500	2,939,000	109,738	3,471,238


	Warrants	Options	Share Awards	Total Outstanding as
	Outstanding	Outstanding	Outstanding	of March 31, 2021
Incentive Programs
Warrant program 2018/2022	856,586	—	—	856,586
Warrant program 2019/2022	422,500	—	—	422,500
Board LTIP 2019	—	—	51,399	51,399
Board LTIP 2020	—	—	31,371	31,371
ESOP 2020	—	1,485,000	—	1,485,000
Total Outstanding as of March 31, 2021	1,279,086	1,485,000	82,770	2,846,856

Non-current interest-bearing liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Non-current interest-bearing liabilities

Schedule of non-current interesting-bearing liabilities


	March 31,		December 31,
(SEK in thousands)	2022	2021	2021
Opening balance	189,164	—	—
New borrowings	—	—	199,524
Transaction costs paid	—	—	(14,858)
Interest expense	1,196	—	2,145
Exchange difference on translation	2,271	—	2,353
Closing balance	192,632	—	189,164

Change of presentation of expenses and IFRS 3 adjustment (Tables)

3 Months Ended

Mar. 31, 2022

Change of presentation of expenses and IFRS 3 adjustment

Schedule of effects of the change in the statement of income


	Three Months Ended March 31,				Year Ended December 31,
(SEK in thousands)	2021	Adjustment	Re-classification	2021	2021	Re-classification	2021

Net sales	—	—	—	—	229,347	—	229,347
Operating expenses
Research and development expenses	(90,076)	—	—	(90,076)	(357,485)	—	(357,485)
Marketing and selling expenses	—	—	(19,426)	(19,426)	—	(179,603)	(179,603)
Administrative expenses	(58,779)	—	19,426	(39,353)	(390,232)	179,603	(210,629)
Other operating income/expenses	(1,925)	—	—	(1,925)	(6,085)	—	(6,085)
Operating loss	(150,781)	—	—	(150,781)	(524,456)	—	(524,456)
Net financial income/(expenses)	14,607	—	—	14,607	11,083	—	11,083
Loss before income tax	(136,174)	—	—	(136,174)	(513,373)	—	(513,373)
Income tax	9,305	(6,004)	—	3,302	3,836	—	3,836
Loss for the period	(126,869)	(6,004)	—	(132,872)	(509,537)	—	(509,537)

Schedule of adjustment regarding statements of financial position


	March 31,
(SEK in thousands)	2021	Adjustment	2021

ASSETS
Non-current assets
Other intangible assets	377,469	(33,942)	343,527
Goodwill	48,194	(9,448)	38,746
Other non-current assets	53,195	—	53,195
Total non-current assets	478,859	(43,390)	435,469

Current assets	907,867	—	907,867
TOTAL ASSETS	1,386,726	(43,390)	1,343,336

EQUITY AND LIABILITIES
Equity
Share capital	1,998	—	1,998
Additional paid in capital	2,135,476	—	2,135,476
Retained earnings, including net loss for the period	(1,042,133)	(5,796)	(1,047,929)
Equity attributable to equity holders of the Parent Company	1,095,341	(5,796)	1,089,545
Non-controlling interests	36,834	(596)	36,238
Total equity	1,132,175	(6,392)	1,125,783

Non-current liabilities
Deferred tax liabilities	72,045	(36,998)	35,047
Other non-current liabilities	65,295	—	65,295
Total non-current liabilities	137,340	(36,998)	100,342

Current liabilities	117,211	—	117,211
TOTAL EQUITY AND LIABILITIES	1,386,726	(43,390)	1,343,336

Revenue from Contracts with Customers (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022 SEK (kr)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 SEK (kr)
Revenue from Contracts with Customers
Net sales	kr 49,734,000		kr 229,347,000
Expected return of liability for returns and rebates	1,800,000
Performance obligation	0
USA
Revenue from Contracts with Customers
Net sales	17,963,000
Europe
Revenue from Contracts with Customers
Net sales	2,967,000		201,878,000
Asia
Revenue from Contracts with Customers
Net sales	28,804,000		27,469,000
Product sales
Revenue from Contracts with Customers
Net sales	17,963,000
Product sales \| USA
Revenue from Contracts with Customers
Net sales	18,000,000.0
Out-licensing of the product candidate
Revenue from Contracts with Customers
Net sales	28,804,000		225,252,000
Out-licensing of the product candidate \| South Korea
Revenue from Contracts with Customers
Net sales \| $		$ 3.0
Performance of certain regulatory services
Revenue from Contracts with Customers
Net sales	kr 2,967,000		kr 4,095,000

Intangible Assets (Details) - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
Intangible Assets (Details) - SEK (kr) kr in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Intangible Assets
Cost at opening balance		kr 418,825	kr 418,825
Acquisition license			16,066
Exchange difference on translation	kr 1,533	8,029	(7,498)
Cost at closing balance		426,854
Licenses and similar rights
Intangible Assets
Cost at closing balance	363,600	388,100
Goodwill.
Intangible Assets
Cost at closing balance	37,400	38,700
Cost at closing balance
Intangible Assets
Cost at opening balance	427,393
Cost at closing balance	428,926	kr 426,854	427,393
Amortisation and impairment at closing balance
Intangible Assets
Cost at opening balance	(27,975)
Cost at closing balance	kr (27,975)		kr (27,975)

Deferred Tax Liabilities - Change in deferred tax (Details) - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Reconciliation of changes in deferred tax liability (asset) [abstract]
Cost at Opening Balance	kr 30,857	kr 37,454	kr 37,454
Tax loss carried forward	(5,135)	(3,431)	(5,065)
Exchange difference on translation	390	1,024	(1,532)
Cost at Closing Balance	kr 26,112	kr 35,047	kr 30,857

Deferred Tax Liabilities (Details) kr in Millions	Mar. 31, 2022 SEK (kr)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred Tax Liabilities	kr 20.3

Shareholders' Equity - Share Capital and Other Contributed Capital (Details) - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Changes in equity
Opening balance equity attributable to equity holders of the Parent Company	kr 1,008,281
Total registered shares at the beginning of period	52,341,584	49,941,584	49,941,584
New issue of shares during the period		0	2,400,000
Outstanding of shares during the period	830,586	0
Total registered shares at the end of period	53,172,170	49,941,584	52,341,584
Share capital at the end of period	kr 2,094	kr 1,998	kr 2,094
Equity attributable to equity holders of the Parent Company	871,142	1,089,545	1,008,281	kr 1,210,491
Non-controlling interests		36,238			kr 45,809
Closing balance equity	kr 871,142	kr 1,125,783	kr 1,008,281

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Shareholders' Equity - Earnings Per Share (Details) - SEK (kr) kr / shares in Units, kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Shareholders' Equity
Loss per share before and after dilution (SEK)	kr (3.95)	kr (2.62)	kr (9.84)
Weighted-average number of shares outstanding for the period, before and after dilution	52,381,402	49,941,584	50,829,255
Reserves for translation from foreign operations	kr (1,200)	kr 6,277	kr (20,111)
Common shares under registration	830,586

Incentive Programs - Incentive Programs (Details)	Mar. 31, 2022 SEK (kr)	Mar. 31, 2022 EquityInstruments	Mar. 31, 2021 EquityInstruments
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total Outstanding		3,471,238	2,846,856
Warrants [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding		422,500	1,279,086
Warrants of Warrant Program 2018/2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding			856,586
Total Outstanding			856,586
Warrants of Warrant Program 2019/2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding		422,500	422,500
Total Outstanding		422,500	422,500
Share Awards
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding		109,738	82,770
Boards LTIP 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding	51,399	51,399	51,399
Total Outstanding		51,399	51,399
Board LTIP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding	31,371	31,371	31,371
Total Outstanding		31,371	31,371
Board LTIP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding	26,968	26,968
Total Outstanding		26,968
Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options Outstanding		2,939,000	1,485,000
ESOP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options Outstanding		1,444,000	1,485,000
Total Outstanding		1,444,000	1,485,000
ESOP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options Outstanding		1,495,000
Total Outstanding		1,495,000

Incentive Programs - (Details)	1 Months Ended	3 Months Ended
Incentive Programs - (Details)	Jan. 31, 2022 shares	Mar. 31, 2022 SEK (kr) D kr / shares	Mar. 31, 2022 EquityInstruments	Mar. 31, 2021 EquityInstruments
Warrants Program 2018/2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Subscription price per share \| kr / shares		kr 74.30
warrants exercised \| shares	856,586
Warrants Program 2019/2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Subscription price per share \| kr / shares		kr 74.50
Boards LTIP 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding		51,399	51,399	51,399
Board LTIP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding		31,371	31,371	31,371
Board LTIP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding		26,968	26,968
ESOP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period		3 years
Trading days \| D		10
Percentage of weighted average share price		115.00%
ESOP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period		3 years
Trading days \| D		10
Percentage of weighted average share price		115.00%

Non-current interest-bearing liabilities (Details) - Non-current interesting-bearing liabilities - SEK (kr) kr in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Opening balance	kr 189,164
News borrowings		kr 199,524
Transaction costs paid		(14,858)
Interest expense	1,196	2,145
Exchange difference on translation	2,271	2,353
Closing balance	kr 192,632	kr 189,164

Non-current interesting-bearing liabilities - Additional information (Details) $ in Millions	1 Months Ended	12 Months Ended
	Jul. 31, 2021 USD ($) tranche	Dec. 31, 2021 USD ($)
Disclosure of detailed information about borrowings [line items]
Interest rate	9.00%
Kreos Capital
Disclosure of detailed information about borrowings [line items]
Amount of loan facility	$ 75
Loan Facility
Disclosure of detailed information about borrowings [line items]
Amount of loan facility	$ 25
Number of tranches \| tranche	3
Tranche One
Disclosure of detailed information about borrowings [line items]
Amount drawn under each tranche		$ 25
Tranche Two
Disclosure of detailed information about borrowings [line items]
Amount drawn under each tranche	$ 25
Tranche Three
Disclosure of detailed information about borrowings [line items]
Amount drawn under each tranche	$ 25

Change of presentation of expenses and IFRS 3 adjustment - change in the statement of income (Details) - SEK (kr) kr in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Disclosure of voluntary change in accounting policy [line items]
Net sales	kr 49,734		kr 229,347
Research and development expenses	(113,343)	kr (90,077)	(357,485)
Marketing and selling expenses	(93,897)	(19,426)	(179,603)
Administrative expense	(48,532)	(39,353)	(210,630)
Other operating expenses	(2,479)	(1,925)	(6,344)
Operating loss	(208,367)	(150,781)	(524,456)
Net financial income/(expenses)	(3,068)	14,607	11,083
Loss before income tax	(211,434)	(136,174)	(513,373)
Income tax	4,387	3,302	3,836
Loss for the period	kr (207,047)	(132,872)	(509,537)
Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Disclosure of voluntary change in accounting policy [line items]
Net sales			229,347
Research and development expenses		(90,076)	(357,485)
Marketing and selling expenses		(19,426)	(179,603)
Administrative expense		(39,353)	(210,629)
Other operating expenses		(1,925)	(6,085)
Operating loss		(150,781)	(524,456)
Net financial income/(expenses)		14,607	11,083
Loss before income tax		(136,174)	(513,373)
Income tax		3,302	3,836
Loss for the period		(132,872)	(509,537)
Previously reported \| Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Disclosure of voluntary change in accounting policy [line items]
Net sales			229,347
Research and development expenses		(90,076)	(357,485)
Administrative expense		(58,779)	(390,232)
Other operating expenses		(1,925)	(6,085)
Operating loss		(150,781)	(524,456)
Net financial income/(expenses)		14,607	11,083
Loss before income tax		(136,174)	(513,373)
Income tax		9,305	3,836
Loss for the period		(126,869)	(509,537)
Adjustment \| Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Disclosure of voluntary change in accounting policy [line items]
Income tax		(6,004)
Loss for the period		(6,004)
Re-classification \| Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Disclosure of voluntary change in accounting policy [line items]
Marketing and selling expenses		(19,426)	(179,603)
Administrative expense		kr 19,426	kr 179,603

Change of presentation of expenses and IFRS 3 adjustment - Statements Of Financial Position (Details) - SEK (kr) kr in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-current assets
Total non-current assets	kr 447,862	kr 447,138	kr 435,469
Total current assets	896,478	1,012,772	907,867
TOTAL ASSETS	1,344,340	1,459,910	1,343,336
Equity
Share capital	2,094	2,094	1,998
Additional paid-in capital	2,529,556	2,459,741	2,135,476
Retained earnings including net loss for the period	(1,660,507)	(1,453,554)	(1,047,929)
Equity attributable to equity holders of the Parent Company	871,142	1,008,281	1,089,545	kr 1,210,491
Non-controlling interests			36,238		kr 45,809
Total equity	871,142	1,008,281	1,125,783
Non-current liabilities
Provisions	9,220	17,712	13,293
Deferred tax liabilities	26,112	30,856	35,047
Total non-current liabilities	306,123	316,183	100,342
Total current liabilities	167,075	135,446	117,211
TOTAL EQUITY AND LIABILITIES	kr 1,344,340	kr 1,459,910	1,343,336
Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Non-current assets
Other intangible assets			343,527
Goodwill			38,746
Other non-current assets			53,195
Total non-current assets			435,469
Total current assets			907,867
TOTAL ASSETS			1,343,336
Equity
Share capital			1,998
Additional paid-in capital			2,135,476
Retained earnings including net loss for the period			(1,047,929)
Equity attributable to equity holders of the Parent Company			1,089,545
Non-controlling interests			36,238
Total equity			1,125,783
Non-current liabilities
Deferred tax liabilities			35,047
Other non-current liabilities			65,295
Total non-current liabilities			100,342
Total current liabilities			117,211
TOTAL EQUITY AND LIABILITIES			1,343,336
Previously reported \| Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Non-current assets
Other intangible assets			377,469
Goodwill			48,194
Other non-current assets			53,195
Total non-current assets			478,859
Total current assets			907,867
TOTAL ASSETS			1,386,726
Equity
Share capital			1,998
Additional paid-in capital			2,135,476
Retained earnings including net loss for the period			(1,042,133)
Equity attributable to equity holders of the Parent Company			1,095,341
Non-controlling interests			36,834
Total equity			1,132,175
Non-current liabilities
Deferred tax liabilities			72,045
Other non-current liabilities			65,295
Total non-current liabilities			137,340
Total current liabilities			117,211
TOTAL EQUITY AND LIABILITIES			1,386,726
Adjustment \| Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Non-current assets
Other intangible assets			(33,942)
Goodwill			(9,448)
Total non-current assets			(43,390)
TOTAL ASSETS			(43,390)
Equity
Retained earnings including net loss for the period			(5,796)
Equity attributable to equity holders of the Parent Company			(5,796)
Non-controlling interests			(596)
Total equity			(6,392)
Non-current liabilities
Deferred tax liabilities			(36,998)
Total non-current liabilities			(36,998)
TOTAL EQUITY AND LIABILITIES			kr (43,390)