0001410578-23-001980 | 6-K | XBRL Viewer | Calliditas Therapeutics AB

Related-Party Transactions	6 Months Ended
Jun. 30, 2023
Related-Party Transactions
Related-Party Transactions	Note 5 - Related-Party Transactions During the reporting period, no significant related-party transactions have occurred. For information about incentive programs please see Note 9.

Related-Party Transactions

6 Months Ended

Jun. 30, 2023

Note 5 - Related-Party Transactions

During the reporting period, no significant related-party transactions have occurred. For information about incentive programs please see Note 9.

Condensed Parent Company Statements of Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Statement Line items
Net sales		kr 64,047	kr 460,735	kr 113,781	kr 802,879
Cost of sales	kr (14,214)	(2,385)	(23,242)	(2,999)	(15,201)
Gross profit/(loss)	255,169	61,662	437,493	110,781	787,678
Research and development expenses	(88,986)	(96,290)	(215,639)	(209,633)	(414,749)
Marketing and selling expenses	(191,472)	(113,272)	(358,696)	(207,169)	(515,190)
Administrative expenses	(77,151)	(58,907)	(149,698)	(107,438)	(259,469)
Other operating income/(expenses), net	27,267	(3,038)	31,294	(4,752)	(20,212)
Operating loss	(75,172)	(209,844)	(255,246)	(418,210)	(421,943)
Profit/(loss) from financial items
Net financial income/(expenses)	4,512	17,754	(23,433)	14,686	12,526
Loss before income tax	(70,660)	(192,090)	(278,679)	(403,525)	(409,417)
Income tax	(21,274)	(339)	(780)	4,048	(2,851)
Loss for the period	(91,934)	(192,429)	(279,459)	(399,477)	(412,268)
Parent Company
Statement Line items
Net sales	105,617	420	273,987	32,191	548,977
Cost of sales	(14,199)	(2,385)	(23,211)	(2,999)	(15,141)
Gross profit/(loss)	91,419	(1,965)	250,776	29,192	533,836
Research and development expenses	(77,820)	(88,708)	(196,609)	(192,389)	(384,453)
Marketing and selling expenses	(107,068)	(38,401)	(195,739)	(62,808)	(310,372)
Administrative expenses	(61,848)	(49,997)	(121,033)	(94,342)	(212,971)
Other operating income/(expenses), net	37,229	26,922	97,882	65,664	158,597
Operating loss	(118,088)	(152,149)	(164,723)	(254,683)	(215,364)
Profit/(loss) from financial items
Net financial income/(expenses)	(3,984)	9,236	(22,318)	5,841	6,816
Loss before income tax	(122,072)	(142,913)	(187,041)	(248,842)	(208,548)
Loss for the period	kr (122,072)	kr (142,913)	kr (187,041)	kr (248,842)	kr (208,548)

Treasury Shares	6 Months Ended
Jun. 30, 2023
Treasury Shares.
Treasury Shares	Note 7 – Treasury Shares As of June 30, 2023, Calliditas had 5,908,018 ordinary shares held as treasury shares by the Parent Company. At the Annual General Meeting 2023, authorization was given that Calliditas can transfer (sale) these ordinary shares with the purpose to finance an acquisition of operations, to procure capital to finance the development of projects, repayment of loans or to commercialize Calliditas’ products. No transfer (sale) of treasury shares have occurred as of June 30, 2023. The total number of issued shares as of June 30, 2023, is presented in Note 8.

Treasury Shares

6 Months Ended

Jun. 30, 2023

Treasury Shares.

Treasury Shares

Note 7 – Treasury Shares

As of June 30, 2023, Calliditas had 5,908,018 ordinary shares held as treasury shares by the Parent Company. At the Annual General Meeting 2023, authorization was given that Calliditas can transfer (sale) these ordinary shares with the purpose to finance an acquisition of operations, to procure capital to finance the development of projects, repayment of loans or to commercialize Calliditas’ products. No transfer (sale) of treasury shares have occurred as of June 30, 2023. The total number of issued shares as of June 30, 2023, is presented in Note 8.

Incentive Programs (Tables)

6 Months Ended

Jun. 30, 2023

Incentive Programs

Schedule of total cost of outstanding incentive programs


	June 30, 2023
	Options	Share Awards	Total
	Outstanding	Outstanding	Outstanding
Incentive Programs
Warrant program 2019/2022	—	—	—
Board LTIP 2020	—	—	—
Board LTIP 2021	—	22,882	22,882
Board LTIP 2022	—	37,136	37,136
Board LTIP 2023	—	40,957	40,957
ESOP 2020	1,364,730	—	1,364,730
ESOP 2021	1,468,500	—	1,468,500
ESOP 2022	1,961,000	—	1,961,000
Total Outstanding	4,794,230	100,975	4,895,205


	June 30, 2022
	Warrants	Options	Share Awards	Total
	Outstanding	Outstanding	Outstanding	Outstanding
Incentive Programs
Warrant program 2019/2022	422,500	—	—	422,500
Board LTIP 2019	—	—	31,371	31,371
Board LTIP 2020	—	—	26,968	26,968
Board LTIP 2021	—	—	40,706	40,706
Board LTIP 2022	—	—	—	—
ESOP 2020	—	1,444,000	—	1,444,000
ESOP 2021	—	1,495,000	—	1,495,000
ESOP 2022	—	—	—	—
Total Outstanding	422,500	2,939,000	99,045	3,460,545

Accounting Policies	6 Months Ended
Jun. 30, 2023
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. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Annual Report for 2022. None of the new or amended standards and interpretations that became effective January 1, 2023, have had a significant impact on the Group’s financial reporting. Significant accounting principles can be found on pages 49-54 of the Annual Report for 2022. 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 31.

Accounting Policies

6 Months Ended

Jun. 30, 2023

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. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Annual Report for 2022. None of the new or amended standards and interpretations that became effective January 1, 2023, have had a significant impact on the Group’s financial reporting. Significant accounting principles can be found on pages 49-54 of the Annual Report for 2022.

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 31.

Description of Business

6 Months Ended

Jun. 30, 2023

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 six months ended June 30, 2023 and 2022.

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 August 17, 2023.

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.

Condensed Parent Company Statements of Comprehensive Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Statement Line items
Loss for the period	kr (91,934)	kr (192,429)	kr (279,459)	kr (399,477)	kr (412,268)
Other comprehensive income/(loss)	(4,596)	32,445	(4,099)	32,539	39,050
Total comprehensive income/(loss) for the period	(96,530)	(159,984)	(283,558)	(366,938)	(373,218)
Parent Company
Statement Line items
Loss for the period	(122,072)	(142,913)	(187,041)	(248,842)	(208,548)
Total comprehensive income/(loss) for the period	kr (122,072)	kr (142,913)	kr (187,041)	kr (248,842)	kr (208,548)

- 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

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+ Details

Condensed Consolidated Statements of Cash Flows - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Operating activities
Operating loss	kr (75,172)	kr (209,844)	kr (255,246)	kr (418,210)	kr (421,943)
Adjustment for non-cash items	(7,266)	14,104	19,876	19,171	61,260
Interest received	724	2	732	2	3,553
Interest paid	(17,915)	(5,437)	(33,376)	(10,846)	(35,252)
Income taxes paid	(13,839)	(2,930)	(15,175)	(2,930)	(7,392)
Cash flow used in operating activities before changes in working capital	(113,468)	(204,105)	(283,189)	(412,813)	(399,774)
Cash flow from changes in working capital
Cash flow from/(used in) changes in working capital	49,564	21,129	111,782	3,845	(88,420)
Cash flow used in operating activities	(163,031)	(225,234)	(394,971)	(416,658)	(311,354)
Investing activities
Cash flow used in investing activities	(1,060)	(139)	(3,973)	(2,790)	(5,144)
Financing activities
Issuance of treasury shares		236		236	236
Repurchase of treasury shares		(236)		(236)	(236)
Exercise of warrants		1,932		63,644	95,121
New borrowings		236,462		236,462	491,745
Costs attributable to new loans					(1,260)
Repayment of lease liabilities	(3,015)	(2,527)	(5,984)	(4,185)	(9,615)
Cash flow from/(used in) financing activities	(3,015)	235,867	(5,984)	295,922	575,990
Net increase/(decrease) in cash	(167,106)	10,494	(404,928)	(123,526)	259,493
Cash at the beginning of the period	1,013,600	825,408	1,249,094	955,507	955,507
Net foreign exchange gains/(loss) on cash	19,687	10,897	22,015	14,818	34,094
Cash at the end of the period	kr 866,181	kr 846,799	kr 866,181	kr 846,799	kr 1,249,094

Incentive Programs

6 Months Ended

Jun. 30, 2023

Incentive Programs

Incentive Programs

Note 9 - Incentive Programs


	June 30, 2023
	Options	Share Awards	Total
	Outstanding	Outstanding	Outstanding
Incentive Programs
Warrant program 2019/2022	—	—	—
Board LTIP 2020	—	—	—
Board LTIP 2021	—	22,882	22,882
Board LTIP 2022	—	37,136	37,136
Board LTIP 2023	—	40,957	40,957
ESOP 2020	1,364,730	—	1,364,730
ESOP 2021	1,468,500	—	1,468,500
ESOP 2022	1,961,000	—	1,961,000
Total Outstanding	4,794,230	100,975	4,895,205


	June 30, 2022
	Warrants	Options	Share Awards	Total
	Outstanding	Outstanding	Outstanding	Outstanding
Incentive Programs
Warrant program 2019/2022	422,500	—	—	422,500
Board LTIP 2019	—	—	31,371	31,371
Board LTIP 2020	—	—	26,968	26,968
Board LTIP 2021	—	—	40,706	40,706
Board LTIP 2022	—	—	—	—
ESOP 2020	—	1,444,000	—	1,444,000
ESOP 2021	—	1,495,000	—	1,495,000
ESOP 2022	—	—	—	—
Total Outstanding	422,500	2,939,000	99,045	3,460,545

Board LTIP 2021:

This is a performance-based long-term incentive program for Calliditas Board members. 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.

Board LTIP 2022:

Board LTIP 2023:

ESOP Programs

Calliditas implements option programs for employees and key consultants in Calliditas. The options are granted free of charge to participants of the program. The options have a three-year vesting period calculated from the grant 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 grant date. The options have, at the time of each issue, been valued according to the Black & Scholes valuation model.

Revenue from Contracts with Customers (Details) - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue from Contracts with Customers
Net sales		kr 64,047	kr 460,735	kr 113,781	kr 802,879
Total liability for expected returns and rebates	kr 46,100		46,100		6,900
USA
Revenue from Contracts with Customers
Net sales	259,239	63,627	444,931	81,590	372,247
Europe
Revenue from Contracts with Customers
Net sales	10,144	420	15,804	3,387	143,955
Asia
Revenue from Contracts with Customers
Net sales				28,804	286,677
South Korea
Revenue from Contracts with Customers
Net sales				28,800
Product sales
Revenue from Contracts with Customers
Net sales	260,631	63,627	447,571	81,590	375,515
TARPEYO \| USA
Revenue from Contracts with Customers
Net sales	259,200	63,600	444,900	81,600
Outlicensing of product
Revenue from Contracts with Customers
Net sales				28,804	421,689
Royalty income
Revenue from Contracts with Customers
Net sales	8,752		13,164		2,287
Royalty income \| Europe
Revenue from Contracts with Customers
Net sales	kr 8,800	0	kr 13,200	0
Performance of certain regulatory services
Revenue from Contracts with Customers
Net sales		kr 420		kr 3,387	kr 3,387

Risks and Uncertainties in the Group and the Parent Company

6 Months Ended

Jun. 30, 2023

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 risks, such as a failure to demonstrate eﬃcacy or a favorable risk/ benefit profile, 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 commercialized product, which has been approved under accelerated approval in the U.S. under the brand name TARPEYO and has received conditional marketing authorization in the EU and the UK under the brand name Kinpeygo. There is a risk that commercialization will not go according 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.

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 holds account receivables in USD and cash in USD and EUR to meet future expected costs in USD and EUR in connection with commercialization of TARPEYO in the U.S. 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 2022.

For more information and full disclosure regarding the operational and financial risks, reference is made to the Annual Report for 2022 and the Annual Report on Form 20-F, filed with the SEC in April 2023.

Condensed Consolidated Statements of Financial Position - SEK (kr) kr in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Non-current assets
Intangible assets	kr 515,028	kr 483,841	kr 460,304
Equipment	9,222	7,468	7,034
Right-of-use assets	32,271	24,452	29,586
Non-current financial assets	16,617	11,210	5,807
Deferred tax assets	22,423	13,799	5,420
Total non-current assets	595,560	540,770	508,151
Current assets
Inventories	17,697	3,647	730
Current receivables	146,365	88,721	52,873
Prepaid expenses and accrued income	83,343	70,741	49,739
Cash	866,181	1,249,094	846,799
Total current assets	1,113,587	1,412,204	950,142
TOTAL ASSETS	1,709,147	1,952,973	1,458,293
Equity
Equity attributable to equity holders of the Parent Company	504,367	766,264	721,094
Total equity	504,367	766,264	721,094
Non-current liabilities
Provisions	15,146	12,675	8,859
Contingent consideration	69,290	75,880	59,559
Deferred tax liabilities	41,950	39,752	32,259
Non-current interest-bearing liabilities	759,052	713,030	437,392
Lease liabilities	20,512	15,792	20,635
Other non-current liabilities	8,521	4,350
Total non-current liabilities	914,471	861,479	558,705
Current liabilities
Accounts payable	72,037	160,404	81,666
Other current liabilities	30,742	28,381	15,893
Accrued expenses and deferred revenue	187,531	136,446	80,935
Total current liabilities	290,309	325,231	178,494
TOTAL EQUITY AND LIABILITIES	kr 1,709,147	kr 1,952,973	kr 1,458,293

Financial Instruments (Details) kr in Millions	3 Months Ended		6 Months Ended
Financial Instruments (Details) kr in Millions	Jun. 30, 2023 SEK (kr)	Jun. 30, 2022 SEK (kr)	Jun. 30, 2023 SEK (kr)	Jun. 30, 2022 SEK (kr)
Financial Instruments
Aecting profit/(loss)	kr 12.5	kr 1.4	kr 10.6	kr 2.7
Contingent Consideration \| Discount rate
Financial Instruments
Discount rate	0.120		0.120

Shareholders' Equity - Earnings Per Share (Details) - SEK (kr) kr / shares in Units, kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Loss per share before and after dilution	kr (1.71)	kr (3.62)	kr (5.21)	kr (7.57)	kr (7.78)
Weighted-average number of shares outstanding for the period, before and after dilution	53,672,069	53,190,170	53,672,069	52,788,020	53,022,550
Reserves for translation from foreign operations	kr (4,040)	kr 31,269	kr (2,881)	kr 30,069	kr 36,287
Retained earnings
Reserves for translation from foreign operations			kr 6,400	kr 3,100

Condensed Consolidated Statements of Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Condensed Consolidated Statements of Income
Net sales		kr 64,047	kr 460,735	kr 113,781	kr 802,879
Cost of sales	kr (14,214)	(2,385)	(23,242)	(2,999)	(15,201)
Gross profit/(loss)	255,169	61,662	437,493	110,781	787,678
Research and development expenses	(88,986)	(96,290)	(215,639)	(209,633)	(414,749)
Marketing and selling expenses	(191,472)	(113,272)	(358,696)	(207,169)	(515,190)
Administrative expenses	(77,151)	(58,907)	(149,698)	(107,438)	(259,469)
Other operating income/(expenses), net	27,267	(3,038)	31,294	(4,752)	(20,212)
Operating loss	(75,172)	(209,844)	(255,246)	(418,210)	(421,943)
Net financial income/(expenses)	4,512	17,754	(23,433)	14,686	12,526
Loss before income tax	(70,660)	(192,090)	(278,679)	(403,525)	(409,417)
Income tax	(21,274)	(339)	(780)	4,048	(2,851)
Loss for the period	(91,934)	(192,429)	(279,459)	(399,477)	(412,268)
Attributable to:
Equity holders of the Parent Company	kr (91,934)	kr (192,429)	kr (279,459)	kr (399,477)	kr (412,268)
Loss per share
Before dilution to ordinary equity holders of the Parent Company	kr (1.71)	kr (3.62)	kr (5.21)	kr (7.57)	kr (7.78)
After dilution to ordinary equity holders of the Parent Company	kr (1.71)	kr (3.62)	kr (5.21)	kr (7.57)	kr (7.78)

Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2023

Revenue from Contracts with Customers

Revenue from Contracts with Customers

Note 4 - Revenue from Contracts with Customers


	Three Months Ended		Six Months Ended		Year Ended
	June 30,		June 30,		December 31,
(SEK in thousands)	2023	2022	2023	2022	2022
Type of goods or services
Product sales	260,631	63,627	447,571	81,590	375,515
Outlicensing of product	—	—	—	28,804	421,689
Royalty income	8,752	—	13,164	—	2,287
Performance of certain regulatory services	—	420	—	3,387	3,387
Total	269,383	64,047	460,735	113,781	802,879

Geographical markets
USA	259,239	63,627	444,931	81,590	372,247
Europe	10,144	420	15,804	3,387	143,955
Asia	—	—	—	28,804	286,677
Total	269,383	64,047	460,735	113,781	802,879

Net sales for the periods primarily originate from net sales of TARPEYO in the U.S, which amounted to SEK 259.2 million and SEK 63.6 million for the three months ended June 30, 2023 and 2022, respectively. For the six months ended June 30, 2023 and 2022, net sales from TARPEYO amounted to SEK 444.9 million and SEK 81.6 million, respectively. Royalty income from our partnership in Europe amounted to SEK 8.8 million for the three months ended June 30, 2023 and SEK 13.2 million for the six months ended June 30, 2023. No royalty income were recorded for the three and six months ended June 30, 2022. Further, for the six months ended June 30, 2022, net sales also consisted of the milestone fee from Everest Medicines for the extension of the license agreement for South Korea, which amounted to SEK 28.8 million.

The total liability for expected returns and rebates amounts to SEK 46.1 million and SEK 6.9 million as of June 30, 2023 and 2022, respectively, which are recognized in other current liabilities and accrued expenses and deferred revenue.

Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contracts with Customers

Schedule of revenue


	Three Months Ended		Six Months Ended		Year Ended
	June 30,		June 30,		December 31,
(SEK in thousands)	2023	2022	2023	2022	2022
Type of goods or services
Product sales	260,631	63,627	447,571	81,590	375,515
Outlicensing of product	—	—	—	28,804	421,689
Royalty income	8,752	—	13,164	—	2,287
Performance of certain regulatory services	—	420	—	3,387	3,387
Total	269,383	64,047	460,735	113,781	802,879

Geographical markets
USA	259,239	63,627	444,931	81,590	372,247
Europe	10,144	420	15,804	3,387	143,955
Asia	—	—	—	28,804	286,677
Total	269,383	64,047	460,735	113,781	802,879

Incentive Programs - (Details)	6 Months Ended
Incentive Programs - (Details)	Jun. 30, 2023 EquityInstruments D	Jun. 30, 2022 EquityInstruments
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total Outstanding	4,895,205	3,460,545
Warrants Program 2019/2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding		422,500
Share Awards Outstanding		422,500
Total Outstanding		422,500
Warrants Outstanding
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total Outstanding		422,500
Share Awards
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding	100,975
Share Awards Outstanding	100,975
Total Outstanding		99,045
Boards LTIP 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding		31,371
Share Awards Outstanding		31,371
Total Outstanding		31,371
Board LTIP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding		26,968
Share Awards Outstanding		26,968
Total Outstanding		26,968
Board LTIP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding	22,882	40,706
Share Awards Outstanding	22,882	40,706
Total Outstanding	22,882	40,706
Board LTIP 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding	37,136
Share Awards Outstanding	37,136
Total Outstanding	37,136
Board LTIP 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding	40,957
Share Awards Outstanding	40,957
Total Outstanding	40,957
ESOP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options Outstanding	1,364,730	1,444,000
Total Outstanding	1,364,730	1,444,000
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%
Options Outstanding	1,468,500	1,495,000
Total Outstanding	1,468,500	1,495,000
ESOP 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options Outstanding	1,961,000
Total Outstanding	1,961,000
Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options Outstanding	4,794,230
Total Outstanding		2,939,000

Financial Instruments

6 Months Ended

Jun. 30, 2023

Financial Instruments

Financial Instruments

Note 6 - Financial Instruments

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

Contingent consideration are recognized at fair value, measured at Level 3 of the IFRS value hierarchy. The contingent consideration has been computed in accordance with the present value method and the probability has been taken into account if and when the various milestones will occur. The calculations are based on a discount rate of 12.0 percent. The most significant input aﬀecting the valuation of the contingent consideration is the Group’s estimate of the probability of the milestones being reached. For the three months ended June 30, 2023 and 2022, the aﬀecting profit/(loss) for the period amounted to SEK 12.5 million and (SEK 1.4 million), respectively and for the six months ended June 30, 2023 and 2022, the aﬀecting profit/(loss) for the period amounted to SEK 10.6 million and (SEK 2.7 million), respectively, which are recognized in other operating income/(expenses), net. This was attributable to the change of study design which will lead to a delay for the PBC project within the setanaxib platform. For more information see the Annual Report for 2022.

Condensed Parent Company Balance Sheet - SEK (kr) kr in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Non-Current Financial Assets
Non-current financial assets	kr 16,617	kr 11,210	kr 5,807
Total non-current assets	595,560	540,770	508,151
Current assets
Inventories	17,697	3,647	730
Current receivables	146,365	88,721	52,873
Prepaid expenses and accrued income	83,343	70,741	49,739
Cash	866,181	1,249,094	846,799
Total current assets	1,113,587	1,412,204	950,142
TOTAL ASSETS	1,709,147	1,952,973	1,458,293
Non-restricted shareholders' equity
Total equity	504,367	766,264	721,094
Non-current liabilities
Non-current interest-bearing liabilities	759,052	713,030	437,392
Other non-current liabilities	8,521	4,350
Total non-current liabilities	914,471	861,479	558,705
Current liabilities
Accounts payable	72,037	160,404	81,666
Other current liabilities	30,742	28,381	15,893
Total current liabilities	290,309	325,231	178,494
TOTAL EQUITY AND LIABILITIES	1,709,147	1,952,973	1,458,293
Parent Company
Intangible Assets
Intangible assets	32,132	32,132	32,132
Tangible Assets
Equipment	455	567	679
Non-Current Financial Assets
Non-current financial assets	1,049,716	887,456	743,169
Total non-current assets	1,082,303	920,154	775,979
Current assets
Inventories	17,697	3,647	730
Current receivables	71,974	129,090	25,069
Prepaid expenses and accrued income	64,648	61,092	34,245
Cash	754,802	1,059,655	790,377
Total current assets	909,121	1,253,485	850,421
TOTAL ASSETS	1,991,423	2,173,639	1,626,401
Non-restricted shareholders' equity
Total restricted equity	5,475	5,475	5,456
Total non-restricted equity	960,101	1,125,480	1,033,756
Total equity	965,577	1,130,956	1,039,212
Non-current liabilities
Provisions	10,685	9,512	5,149
Non-current interest-bearing liabilities	759,052	713,030	437,392
Other non-current liabilities	8,626	4,455	105
Total non-current liabilities	778,363	726,997	442,646
Current liabilities
Accounts payable	31,210	100,469	41,346
Other current liabilities	119,076	141,750	50,334
Accrued expenses and deferred revenue	97,197	73,468	52,863
Total current liabilities	247,484	315,686	144,543
TOTAL EQUITY AND LIABILITIES	kr 1,991,423	kr 2,173,639	kr 1,626,401

Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Shareholders' Equity

Schedule of Share capital and other contributed capital


	June 30,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2023	2022	2022

Total registered shares at the beginning of the period	59,580,087	52,341,584	52,341,584
New issue of shares during the period	—	6,764,604	7,231,003
Shares subscribed but not registered during the period	—	—	7,500
Total registered and subscribed but not registered shares at the end of the period	59,580,087	59,106,188	59,580,087

Shares
Ordinary shares	59,580,087	53,198,170	59,580,087
C-shares	—	5,908,018	—
Total	59,580,087	59,106,188	59,580,087
- of which shares are held by Calliditas	5,908,018	5,908,018	5,908,018
Total registered and subscribed but not registered shares at the end of the period, net of shares held by Calliditas	53,672,069	53,198,170	53,672,069

Share capital at the end of the period	2,383	2,364	2,383

Equity attributable to equity holders of the Parent Company	504,367	721,094	766,264
Total equity at the end of the period	504,367	721,094	766,264

Schedule of Earnings per share


	Three Months Ended		Six Months Ended		Year Ended
	June 30,		June 30,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2023	2022	2023	2022	2022

Loss per share before and after dilution, SEK	(1.71)	(3.62)	(5.21)	(7.57)	(7.78)
Weighted-average number of ordinary shares outstanding for the period, before and after dilution	53,672,069	53,190,170	53,672,069	52,788,020	53,022,550

Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2023

Accounting Policies

Accounting policies followed in interim financial statements

Shareholders' Equity - Share Capital and Other Contributed Capital (Details) - SEK (kr)	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Changes in equity
New issue of shares during the period		6,764,604	7,231,003
Shares subscribed but not registered during the year			7,500,000
Outstanding shares	53,672,069	53,198,170	53,672,069
Series C shares held by the entity	kr 59,580,087	kr 59,106,188	kr 59,580,087
Share-based payment	kr 21,661,000	kr 16,107,000	kr 36,080,000
Total registered shares at the end of period	59,580,087	59,106,188	59,580,087
Total registered shares at the beginning of period	59,580,087	52,341,584	52,341,584
Closing balance	kr 2,383,000	kr 2,364,000	kr 2,383,000
Equity attributable to equity holders of the Parent Company	504,367,000	721,094,000	766,264,000	kr 1,008,281,000
Closing balance equity	504,367,000	721,094,000	766,264,000
Opening balance equity attributable to equity holders of the Parent Company	766,264,000
Share Capital
Opening balance	2,383,000
Issuance of treasury shares		236,000	236,000
Closing balance	kr 2,383,000	kr 2,364,000	kr 2,383,000
Ordinary shares
Changes in equity
Outstanding shares	59,580,087	53,198,170	59,580,087
Series C shares held by the entity	5,908,018
Series C shares
Changes in equity
Series C shares held by the entity		5,908,018
Calliditas
Changes in equity
Series C shares held by the entity	5,908,018	5,908,018	5,908,018

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, 2021	kr 1,008,281
Loss for the period	(399,477)
Other comprehensive income/(loss)	32,539
Total comprehensive income/(loss) for the period attributable to equity holders of the Parent Company	(366,938)
Transactions with owners:
Issuance of treasury shares	236
Repurchase of treasury shares	(236)
Exercise of warrants	63,644
Share-based payments	16,107
Total transactions with owners	79,751
Closing balance equity attributable to equity holders of the Parent Company at Jun. 30, 2022	721,094
Closing balance equity at Jun. 30, 2022	721,094
Opening balance equity attributable to equity holders of the Parent Company at Dec. 31, 2021	1,008,281
Loss for the period	(412,268)
Other comprehensive income/(loss)	39,050
Total comprehensive income/(loss) for the period attributable to equity holders of the Parent Company	(373,218)
Transactions with owners:
Issuance of treasury shares	236
Repurchase of treasury shares	(236)
Exercise of warrants	95,121
Share-based payments	36,080
Total transactions with owners	131,201
Closing balance equity attributable to equity holders of the Parent Company at Dec. 31, 2022	766,264
Closing balance equity at Dec. 31, 2022	766,264
Loss for the period	(279,459)
Other comprehensive income/(loss)	(4,099)
Total comprehensive income/(loss) for the period attributable to equity holders of the Parent Company	(283,558)
Transactions with owners:
Share-based payments	21,661
Total transactions with owners	21,661
Closing balance equity attributable to equity holders of the Parent Company at Jun. 30, 2023	504,367
Closing balance equity at Jun. 30, 2023	kr 504,367

Treasury Shares (Details) - SEK (kr)	6 Months Ended		12 Months Ended
Treasury Shares (Details) - SEK (kr)	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Treasury Shares
Transfer (sale) of treasury shares	kr 59,580,087	kr 59,106,188	kr 59,580,087
Ordinary shares
Treasury Shares
Number of ordinary shares held as treasury shares	5,908,018
Treasury shares
Treasury Shares
Transfer (sale) of treasury shares	kr 0

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2023
Ifrs Statement
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	Q2
Document Fiscal Year Focus	2023
Document Period End Date	Jun. 30, 2023
Amendment Flag	false

Condensed Consolidated Statements of Comprehensive Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Condensed Consolidated Statements of Comprehensive Income
Loss for the period	kr (91,934)	kr (192,429)	kr (279,459)	kr (399,477)	kr (412,268)
Other comprehensive income/(loss) that may be reclassified to profit or loss in subsequent periods:
Exchange differences on translation of foreign operations	(4,040)	31,269	(2,881)	30,069	36,287
Other comprehensive income/(loss) that may be reclassified to profit or loss in subsequent periods	(4,040)	31,269	(2,881)	30,069	36,287
Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods:
Remeasurement gain/(loss) on defined benefit plans	(556)	1,177	(1,218)	2,471	2,763
Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods	(556)	1,177	(1,218)	2,471	2,763
Other comprehensive income/(loss) for the period	(4,596)	32,445	(4,099)	32,539	39,050
Total comprehensive income/(loss) for the period	(96,530)	(159,984)	(283,558)	(366,938)	(373,218)
Attributable to:
Equity holders of the Parent Company	kr (96,530)	kr (159,984)	kr (283,558)	kr (366,938)	kr (373,218)

Shareholders' Equity

6 Months Ended

Jun. 30, 2023

Shareholders' Equity

Shareholders' Equity

Note 8 - Shareholders’ Equity


	June 30,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2023	2022	2022

Total registered shares at the beginning of the period	59,580,087	52,341,584	52,341,584
New issue of shares during the period	—	6,764,604	7,231,003
Shares subscribed but not registered during the period	—	—	7,500
Total registered and subscribed but not registered shares at the end of the period	59,580,087	59,106,188	59,580,087

Shares
Ordinary shares	59,580,087	53,198,170	59,580,087
C-shares	—	5,908,018	—
Total	59,580,087	59,106,188	59,580,087
- of which shares are held by Calliditas	5,908,018	5,908,018	5,908,018
Total registered and subscribed but not registered shares at the end of the period, net of shares held by Calliditas	53,672,069	53,198,170	53,672,069

Share capital at the end of the period	2,383	2,364	2,383

Equity attributable to equity holders of the Parent Company	504,367	721,094	766,264
Total equity at the end of the period	504,367	721,094	766,264


	Three Months Ended		Six Months Ended		Year Ended
	June 30,		June 30,		December 31,
(SEK in thousands, except per share amounts and number of shares)	2023	2022	2023	2022	2022

Loss per share before and after dilution, SEK	(1.71)	(3.62)	(5.21)	(7.57)	(7.78)
Weighted-average number of ordinary shares outstanding for the period, before and after dilution	53,672,069	53,190,170	53,672,069	52,788,020	53,022,550

Reserves for translation from foreign operations amounted to SEK 6.4 million and SEK 3.1 million which are included in retained earnings in equity as of June 30, 2023 and 2022, respectively.