Calliditas Therapeutics AB (CALT) 6-K 19 Aug 22 2022 Q2 Interim Report January 1ST – June 30TH 2022 Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 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	Q2
Document Fiscal Year Focus	2022
Document Period End Date	Jun. 30, 2022
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Condensed Consolidated Statements of Income
Net sales	kr 64,047		kr 113,781		kr 229,347
Cost of goods sold	(2,385)		(2,999)
Gross profit	61,662		110,781		229,347
Research and development expenses	(96,290)	kr (75,020)	(209,633)	kr (165,097)	(357,485)
Marketing and selling expenses	(113,272)	(58,368)	(207,169)	(77,794)	(179,603)
Administrative expenses	(58,907)	(26,004)	(107,438)	(65,357)	(210,630)
Other operating income	336	383	1,101	383	259
Other operating expenses	(3,374)	(390)	(5,853)	(2,315)	(6,344)
Operating loss	(209,844)	(159,398)	(418,210)	(310,179)	(524,456)
Net financial income/(expenses)	17,754	(5,814)	14,686	8,793	11,083
Loss before income tax	(192,090)	(165,212)	(403,525)	(301,386)	(513,373)
Income tax	(339)	1,054	4,048	4,356	3,836
Loss for the period	(192,429)	(164,157)	(399,477)	(297,030)	(509,537)
Attributable to:
Equity holders of the Parent Company	kr (192,429)	(160,825)	kr (399,477)	(291,696)	(500,293)
Non-controlling interests		kr (3,332)		kr (5,334)	kr (9,244)
Loss per share
Loss per share before and after dilution (SEK)	kr (3.62)	kr (3.22)	kr (7.57)	kr (5.84)	kr (9.84)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Condensed Consolidated Statements of Comprehensive Income
Loss for the period	kr (192,429)	kr (164,157)	kr (399,477)	kr (297,030)	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	31,269	(3,997)	30,069	2,280	(20,111)
Other comprehensive income/(loss) that may be reclassified to profit or loss in subsequent periods	31,269	(3,997)	30,069	2,280	(20,111)
Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods:
Remeasurement gain on defined benefit plans	1,177	109	2,471	1,525	1,993
Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods	1,177	109	2,471	1,525	1,993
Other comprehensive income/(loss) for the period	32,445	(3,888)	32,539	3,805	(18,118)
Total comprehensive income/(loss) for the period	(159,984)	(168,046)	(366,938)	(293,225)	(527,655)
Attributable to:
Equity holders of the Parent Company	kr (159,984)	(164,216)	kr (366,938)	(288,331)	(519,190)
Non-controlling interests		kr (3,829)		kr (4,893)	kr (8,466)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Financial Position - SEK (kr) kr in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Non-current assets
Intangible assets	kr 460,304	kr 399,418	kr 438,397
Equipment	7,034	6,309	1,078
Right-of-use assets	29,586	33,300	7,759
Non-current financial assets	5,807	3,915	3,942
Deferred tax assets	5,420	4,196	885
Total non-current assets	508,151	447,138	452,060
Current assets
Inventories	730	889
Accounts receivable	38,100
Other current receivables	14,773	11,343	17,713
Prepaid expenses and accrued income	49,739	45,032	9,563
Cash	846,799	955,507	709,306
Total current assets	950,142	1,012,772	736,582
TOTAL ASSETS	1,458,293	1,459,910	1,188,643
Equity
Share capital	2,364	2,094	1,998
Additional paid-in-capital	2,539,458	2,459,741	2,141,445
Retained earnings, including net loss for the period	(1,820,728)	(1,453,554)	(1,212,237)
Equity attributable to equity holders of the Parent Company	721,094	1,008,281	931,206
Non-controlling interests			32,172
Total equity	721,094	1,008,281	963,378
Non-current liabilities
Provisions	8,859	17,712	15,135
Contingent consideration	59,559	54,399	51,330
Deferred tax liabilities	32,259	30,856	33,261
Non-current interest-bearing liabilities	437,392	189,164
Lease liabilities	20,635	24,052	3,478
Total non-current liabilities	558,705	316,183	103,204
Current liabilities
Accounts payable	81,666	67,971	59,263
Other current liabilities	15,893	13,922	8,991
Accrued expenses and deferred revenue	80,935	53,553	53,806
Total current liabilities	178,494	135,446	122,060
TOTAL EQUITY AND LIABILITIES	kr 1,458,293	kr 1,459,910	kr 1,188,643

Condensed Consolidated Statem_4

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	(291,696)
Other comprehensive income/(loss)	3,364
Total comprehensive income/(loss) for the period attributable to equity holders of the Parent Company	(288,331)
Transactions with owners:
Costs attributable to new share issue	(982)
Share-based payments	9,285
Purchase of non-controlling interests	743
Total transactions with owners	9,047
Closing balance equity attributable to equity holders of the Parent Company at Jun. 30, 2021	931,206
Transactions with owners:
Total comprehensive loss for the period	(4,893)
Contribution from non-controlling interests	2,282
Purchase of non-controlling interests	(11,026)
Closing balance equity attributable to non-controlling interests at Jun. 30, 2021	32,172
Closing balance equity at Jun. 30, 2021	963,378
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)
Total comprehensive income/(loss) for the period attributable to equity holders of the Parent Company	(519,190)
Transactions with owners:
New share issue	324,000
Costs 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	(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	kr 721,094

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Operating activities
Operating loss	kr (209,844)	kr (159,398)	kr (418,210)	kr (310,179)	kr (524,456)
Adjustment for non-cash-items	14,104	10,217	19,171	15,224	66,676
Interest received	2		2		102
Interest paid	(5,437)	(55)	(10,846)	(209)	(5,432)
Income taxes paid	(2,930)	(993)	(2,930)	(993)	(3,949)
Cash flow used in operating activities before changes in working capital	(204,105)	(150,228)	(412,813)	(296,156)	(467,058)
Cash flow from changes in working capital
Cash flow from/(used in) changes in working capital	21,129	(17,318)	3,845	(29,067)	(5,470)
Cash flow used in operating activities	(225,234)	(132,910)	(416,658)	(267,089)	(461,588)
Cash flow used in investing activities
Cash flow used in investing activities	(139)	(18,568)	(2,790)	(18,767)	(24,340)
Financing activities
New share issue					324,000
Costs attributable to new share issue				(982)	(20,909)
Issuance of treasury shares	236		236
Repurchase of treasury shares	(236)		(236)
Exercise of warrants	1,932		63,644
Purchase of non-controlling interests		(366)		(10,283)	(49,303)
Contribution from non-controlling interests				2,282	2,282
New borrowings	236,462		236,462		199,524
Costs attributable to new loans					(14,857)
Repayment of lease liabilities	(2,527)	(351)	(4,185)	(1,361)	(5,575)
Cash flow from/(used in) financing activities	235,867	(717)	295,922	(10,344)	435,162
Net increase/(decrease) in cash	10,494	(152,195)	(123,526)	(296,200)	(50,766)
Cash at the beginning of the period	825,408	867,346	955,507	996,304	996,304
Net foreign exchange gains/(loss) on cash	10,897	(5,845)	14,818	9,202	9,969
Cash at the end of the period	kr 846,799	kr 709,306	kr 846,799	kr 709,306	kr 955,507

Condensed Parent Company Statem

Condensed Parent Company Statements of Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Net sales	kr 64,047		kr 113,781		kr 229,347
Cost of goods sold	(2,385)		(2,999)
Gross profit	61,662		110,781		229,347
Research and development expenses	(96,290)	kr (75,020)	(209,633)	kr (165,097)	(357,485)
Marketing and selling expenses	(113,272)	(58,368)	(207,169)	(77,794)	(179,603)
Administrative expenses	(58,907)	(26,004)	(107,438)	(65,357)	(210,630)
Other operating expenses	(3,374)	(390)	(5,853)	(2,315)	(6,344)
Operating loss	(209,844)	(159,398)	(418,210)	(310,179)	(524,456)
Profit/(loss) from financial items
Net financial income/(expenses)	17,754	(5,814)	14,686	8,793	11,083
Loss before income tax	(192,090)	(165,212)	(403,525)	(301,386)	(513,373)
Income tax	(339)	1,054	4,048	4,356	3,836
Loss for the period	(192,429)	(164,157)	(399,477)	(297,030)	(509,537)
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net sales	420		32,191		229,347
Cost of goods sold	(2,385)		(2,999)
Gross profit	(1,965)		29,192		229,347
Research and development expenses	(88,708)	(59,223)	(192,389)	(131,373)	(275,950)
Marketing and selling expenses	(38,401)	(52,553)	(62,808)	(68,572)	(151,125)
Administrative expenses	(49,997)	(27,276)	(94,342)	(65,810)	(226,349)
Other operating income	28,917	14,673	68,812	14,673	70,234
Other operating expenses	(1,995)	784	(3,149)	(453)	(1,874)
Operating loss	(152,149)	(123,595)	(254,683)	(251,535)	(355,718)
Profit/(loss) from financial items
Net financial income/(expenses)	9,236	(5,820)	5,841	9,306	1,312
Loss before income tax	(142,913)	(129,415)	(248,842)	(242,229)	(354,405)
Loss for the period	kr (142,913)	kr (129,415)	kr (248,842)	kr (242,229)	kr (354,405)

Condensed Parent Company Stat_2

Condensed Parent Company Statements of Comprehensive Income - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Loss for the period	kr (192,429)	kr (164,157)	kr (399,477)	kr (297,030)	kr (509,537)
Other comprehensive income/(loss)	32,445	(3,888)	32,539	3,805	(18,118)
Total comprehensive income/(loss) for the period	(159,984)	(168,046)	(366,938)	(293,225)	(527,655)
Parent Company
Condensed Financial Statements, Captions [Line Items]
Loss for the period	(142,913)	(129,415)	(248,842)	(242,229)	(354,405)
Total comprehensive income/(loss) for the period	kr (142,913)	kr (129,415)	kr (248,842)	kr (242,229)	kr (354,405)

Condensed Parent Company Balanc

Condensed Parent Company Balance Sheet - SEK (kr) kr in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Non-Current Financial Assets
Non-current financial assets	kr 5,807	kr 3,915	kr 3,942
Total non-current assets	508,151	447,138	452,060
Current assets
Inventories	730	889
Other current receivables	14,773	11,343	17,713
Prepaid expenses and accrued income	49,739	45,032	9,563
Cash	846,799	955,507	709,306
Total current assets	950,142	1,012,772	736,582
Restricted shareholders' equity
Share capital	2,364	2,094	1,998
Non-restricted shareholders' equity
Retained earnings	(1,820,728)	(1,453,554)	(1,212,237)
Total equity	721,094	1,008,281	963,378
Non-current liabilities
Non-current interest-bearing liabilities	437,392	189,164
Total non-current liabilities	558,705	316,183	103,204
Current liabilities
Accounts payable	81,666	67,971	59,263
Other current liabilities	15,893	13,922	8,991
Total current liabilities	178,494	135,446	122,060
TOTAL EQUITY AND LIABILITIES	1,458,293	1,459,910	1,188,643
Parent Company
Intangible Assets
Intangible assets	32,132	32,132	32,132
Tangible Assets
Equipment	679	514	69
Non-Current Financial Assets
Non-current financial assets	743,169	552,924	369,493
Total non-current assets	775,979	585,570	401,693
Current assets
Inventories	730	889
Other current receivables	25,069	5,699	19,067
Prepaid expenses and accrued income	34,245	41,825	7,579
Cash	790,377	894,455	689,588
Total current assets	850,421	942,868	716,233
TOTAL ASSETS	1,626,401	1,528,439	1,117,926
Restricted shareholders' equity
Share capital	2,364	2,094	1,998
Statutory reserve	3,092	3,092	3,092
Total Restricted shareholders' equity	5,456	5,186	5,090
Non-restricted shareholders' equity
Share premium reserve	2,487,126	2,420,698	2,116,721
Retained earnings	(1,204,528)	(863,175)	(877,494)
Net loss for the period	(248,842)	(354,405)	(242,229)
Total non-restricted shareholders' equity	1,033,756	1,203,117	996,998
Total equity	1,039,212	1,208,303	1,002,088
Non-current liabilities
Provisions	5,149	9,075	5,946
Non-current interest-bearing liabilities	437,392	189,164
Other non-current liabilities	105	105	105
Total non-current liabilities	442,646	198,344	6,051
Current liabilities
Accounts payable	41,346	51,711	50,462
Other current liabilities	50,334	33,466	13,636
Accrued expenses and deferred revenue	52,863	36,615	45,690
Total current liabilities	144,543	121,792	109,787
TOTAL EQUITY AND LIABILITIES	kr 1,626,401	kr 1,528,439	kr 1,117,926

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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 August 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

Accounting Policies	6 Months Ended
	Jun. 30, 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 pages 33-34.

Risks and Uncertainties in the

Risks and Uncertainties in the Group and the Parent Company	6 Months Ended
	Jun. 30, 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, which is marketed under the brand name TARPEYO, which has been approved for marketing in the U.S, and under the brand name Kinpeygo, which has been approved for marketing in EU. 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. 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 Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2022
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) 2022 2021 2022 2021 2021 Type of goods or services ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product sales 63,627 ​ — ​ 81,590 ​ — — Outlicensing of product ​ — ​ — ​ 28,804 ​ — ​ 225,252 Performance of certain regulatory services ​ 420 ​ — ​ 3,387 ​ — ​ 4,095 Total 64,047 ​ — ​ 113,781 ​ — 229,347 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Geographical markets ​ ​ ​ ​ ​ ​ ​ USA ​ 63,627 ​ — ​ 81,590 ​ — ​ — Europe ​ 420 ​ — ​ 3,387 ​ — ​ 201,878 Asia — ​ — ​ 28,804 ​ — 27,469 Total 64,047 ​ — ​ 113,781 ​ — 229,347 ​ The Group’s revenues for the three and six months ended June 30, 2022 primarily originates from net sales of TARPEYO in the U.S. 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. 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 accounted for 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. As of June 30, 2022 the total liability for expected returns and rebates amounts to SEK 6.9 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 Medicines 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 has 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

Related-Party Transactions	6 Months Ended
	Jun. 30, 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 11.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2022
Intangible Assets.
Intangible Assets	Note 6 - Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (SEK in thousands) 2022 2021 2021 Cost at opening balance ​ 427,393 ​ 418,825 ​ 418,825 Acquisition license ​ — ​ 16,066 ​ 16,066 Exchange difference on translation ​ 60,886 ​ 3,506 ​ (7,498) Cost at closing balance ​ 488,279 ​ 438,397 ​ 427,393 ​ ​ ​ ​ ​ ​ ​ Amortisation and impairment at closing balance ​ (27,975) ​ — ​ (27,975) ​ ​ ​ ​ ​ ​ ​ Net book value ​ 460,304 ​ 438,397 ​ 399,418 ​ Intangible assets consist of licenses and similar rights of SEK 416.9 million and goodwill of SEK 43.4 million as of June 30, 2022. As of June 30, 2021, intangible assets consist of licenses and similar rights of SEK 400.1 million and goodwill of SEK 38.3 million.

Deferred Tax Liabilities

Deferred Tax Liabilities	6 Months Ended
	Jun. 30, 2022
Deferred Tax Liabilities.
Deferred Tax Liabilities	Note 7 - Deferred Tax Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (SEK in thousands) 2022 2021 2021 Cost at opening balance ​ 30,857 ​ 37,454 37,454 Tax loss carried forward ​ (5,291) ​ (4,758) ​ (5,065) Exchange difference on translation ​ 6,693 ​ 565 (1,532) Cost at closing balance ​ 32,259 ​ 33,261 30,857 ​ Tax loss carried forward of SEK 21.6 million have been offset against deferred tax liabilities in the statement of financial position as of June 30, 2022 due to future temporary differences that such losses can be used to offset.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 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

Shareholders' Equity	6 Months Ended
	Jun. 30, 2022
Shareholders' Equity
Shareholders' Equity	Note 9 - Shareholders’ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 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 ​ 6,764,604 ​ — ​ 2,400,000 Total registered shares at the end of the period ​ 59,106,188 ​ 49,941,584 ​ 52,341,584 ​ ​ ​ ​ ​ ​ ​ Class of shares ​ ​ ​ ​ ​ ​ Ordinary shares ​ 53,198,170 ​ 49,941,584 ​ 52,341,584 C-shares ​ 5,908,018 ​ — ​ — Total ​ 59,106,188 ​ 49,941,584 ​ 52,341,584 - of which C shares held by Calliditas ​ 5,908,018 ​ — ​ — Total registered shares at the end of the period, net of shares held by Calliditas ​ 53,198,170 ​ 49,941,584 ​ 52,341,584 ​ ​ ​ ​ ​ ​ ​ Share capital at the end of the period ​ 2,364 ​ 1,998 ​ 2,094 ​ ​ ​ ​ ​ ​ ​ Equity attributable to equity holders of the Parent Company ​ 721,094 ​ 931,206 ​ 1,008,281 Non-controlling interests ​ — ​ 32,172 ​ — Equity at the end of the period ​ 721,094 ​ 963,378 ​ 1,008,281 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) 2022 2021 2022 2021 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per share before and after dilution, SEK (3.62) (3.22) (7.57) (5.84) (9.84) Weighted-average number of ordinary shares outstanding for the period, before and after dilution 53,190,170 49,941,584 52,788,020 49,941,584 50,829,255 ​ Reserves for translation from foreign operations amounted to SEK 30.1 million and SEK 2.3 million which are included in equity as of June 30, 2022 and 2021, respectively.

Transactions in Treasury Shares

Transactions in Treasury Shares	6 Months Ended
	Jun. 30, 2022
Transactions in Treasury Shares
Transactions in Treasury Shares	Note 10 – Transactions in Treasury Shares Since 2020, Calliditas has had ordinary shares, in the form of American Depository Shares (“ADSs”), listed in the United States on The Nasdaq Global Select Market. Calliditas has now implemented and launched an At-The-Market program (“ATM Program”). The purpose of the ATM Program is to efficiently and cost-effective raise capital, if necessary, in the U.S. market and to ensure delivery of shares to be sold under the company’s ATM Program. Calliditas has mandates to transfer treasury shares as per below: Transfer up to 5,908,019 ordinary shares (following the reclassification from C-shares), to be effected outside Nasdaq Stockholm against payment in cash. Such transfers may be effected at a price in cash which corresponds to the market price at the time of the transfer of the Calliditas shares transferred with such deviation as the Board of Directors finds appropriate. During the six months ended June 30, 2022, 5,908,018 series C shares were issued, which was repurchased by Calliditas and, after the end of the period, converted to ordinary shares. These transactions are in accordance with the granting mandate. The total number of issued shares as of June 30, 2022, is presented in Note 9.

Incentive Programs

Incentive Programs	6 Months Ended
	Jun. 30, 2022
Incentive Programs
Incentive Programs	Note 11 - Incentive Programs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ Options ​ Share Awards ​ Total Outstanding as of ​ Outstanding Outstanding Outstanding June 30, 2022 Incentive Programs ​ ​ ​ ​ ​ ​ ​ ​ Warrant program 2019/2022 422,500 — — 422,500 Board LTIP 2020 — — 31,371 31,371 Board LTIP 2021 — — 26,968 26,968 Board LTIP 2022 — — 40,706 40,706 ESOP 2020 — 1,444,000 — 1,444,000 ESOP 2021 — 1,495,000 — 1,495,000 Total Outstanding as of June 30, 2022 422,500 2,939,000 99,045 3,460,545 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ Options ​ Share Awards ​ Total Outstanding as ​ Outstanding ​ Outstanding Outstanding of June 30, 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 Board LTIP 2021 ​ — ​ — ​ 26,968 ​ 26,968 ESOP 2020 ​ — ​ 1,485,000 — 1,485,000 ESOP 2021 ​ — ​ 510,000 ​ — ​ 510,000 Total Outstanding as of June 30, 2021 1,279,086 ​ 1,995,000 109,738 3,383,824 ​ 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 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. Board LTIP 2022: This is a performance-based long-term incentive program for Calliditas Board members. A total of 40,706 share awards were granted under the program during the second quarter of 2022. The share awards are subject to performance-based earnings, which is dependent on the development of Calliditas’ share price from the date of the 2022 Annual General Meeting to July 1, 2025. 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 li

Non-current interest-bearing liabilities	6 Months Ended
	Jun. 30, 2022
Non-current interest-bearing liabilities
Non-current interest-bearing liabilities	Note 12 - Non-current interest-bearing liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, (SEK in thousands) ​ 2022 ​ 2021 ​ 2021 Opening balance ​ 189,164 ​ — ​ — New borrowings ​ 236,584 ​ — ​ 199,524 Transaction costs ​ — ​ — ​ (14,858) Interest expense ​ 2,393 ​ — ​ 2,145 Exchange difference on translation ​ 9,251 ​ — ​ 2,353 Closing balance ​ 437,392 ​ — ​ 189,164 ​ In July 2021, Calliditas signed a loan agreement of up to the euro equivalent of USD 75 million with Kreos Capital. The loan facility is divided into three tranches of USD 25 million each. Draw down of the first USD 25 million tranche was made in 2021. Draw down of the second tranche of USD 25 million was made in June, 2022. Draw down of the third and final USD 25 million tranche can be made until December 31, 2022, and will be available subject to certain 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 expen

Change of presentation of expenses and IFRS 3 adjustment	6 Months Ended
	Jun. 30, 2022
Change of presentation of expenses and IFRS 3 adjustment
Change of presentation of expenses and IFRS 3 adjustment	Note 13 - 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 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 (165,097) — — (165,097) (357,485) — (357,485) Marketing and selling expenses — — (77,794) (77,794) — (179,603) (179,603) Administrative expenses (143,151) — 77,794 (65,357) (390,232) 179,603 (210,629) Other operating income/expenses (1,931) — — (1,931) (6,085) — (6,085) Operating loss (310,179) — — (310,179) (524,456) — (524,456) Net financial income/(expenses) 8,793 — — 8,793 11,083 — 11,083 Loss before income tax (301,386) — — (301,386) (513,373) — (513,373) Income tax 11,445 (7,089) — 4,356 3,836 — 3,836 Loss for the period (289,940) (7,089) — (297,030) (509,537) — (509,537) ​ The below table describes the adjustment for the six months ended June 30, 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, (SEK in thousands) ​ 2021 Adjustment 2021 ​ ​ ​ ​ ​ ​ ​ ASSETS Non-current assets Other intangible assets 433,646 (33,569) 400,078 Goodwill 47,663 (9,344) 38,320 Other non-current assets 13,663 — 13,663 Total non-current assets 494,973 (42,912) 452,060 ​ ​ ​ ​ ​ ​ ​ Current assets 736,582 — 736,582 TOTAL ASSETS 1,231,555 (42,912) 1,188,643 ​ ​ ​ ​ ​ ​ ​ EQUITY AND LIABILITIES Equity Share capital 1,998 — 1,998 Additional paid in capital 2,141,445 — 2,141,445 Retained earnings, including net loss for the period (1,205,601) (6,636) (1,212,237) Equity attributable to equity holders of the Parent Company 937,842 (6,636) 931,206 Non-controlling interests 32,860 (688) 32,172 Total equity 970,702 (7,324) 963,378 ​ ​ ​ ​ ​ ​ ​ Non-current liabilities Deferred tax liabilities 68,849 (35,588) 33,261 Other non-current liabilities 69,943 — 69,943 Total non-current liabilities 138,792 (35,588) 103,204 ​ ​ ​ ​ ​ ​ ​ Current liabilities 122,060 — 122,060 TOTAL EQUITY AND LIABILITIES 1,231,555 (42,912) 1,188,643 ​

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies
Accounting policies followed in interim financial statements	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 pages 33-34.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2022
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) 2022 2021 2022 2021 2021 Type of goods or services ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product sales 63,627 ​ — ​ 81,590 ​ — — Outlicensing of product ​ — ​ — ​ 28,804 ​ — ​ 225,252 Performance of certain regulatory services ​ 420 ​ — ​ 3,387 ​ — ​ 4,095 Total 64,047 ​ — ​ 113,781 ​ — 229,347 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Geographical markets ​ ​ ​ ​ ​ ​ ​ USA ​ 63,627 ​ — ​ 81,590 ​ — ​ — Europe ​ 420 ​ — ​ 3,387 ​ — ​ 201,878 Asia — ​ — ​ 28,804 ​ — 27,469 Total 64,047 ​ — ​ 113,781 ​ — 229,347

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Intangible Assets.
Schedule of intangible assets and impairment testing	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (SEK in thousands) 2022 2021 2021 Cost at opening balance ​ 427,393 ​ 418,825 ​ 418,825 Acquisition license ​ — ​ 16,066 ​ 16,066 Exchange difference on translation ​ 60,886 ​ 3,506 ​ (7,498) Cost at closing balance ​ 488,279 ​ 438,397 ​ 427,393 ​ ​ ​ ​ ​ ​ ​ Amortisation and impairment at closing balance ​ (27,975) ​ — ​ (27,975) ​ ​ ​ ​ ​ ​ ​ Net book value ​ 460,304 ​ 438,397 ​ 399,418

Deferred Tax Liabilities (Table

Deferred Tax Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Tax Liabilities.
Summary of change in deferred tax	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, (SEK in thousands) 2022 2021 2021 Cost at opening balance ​ 30,857 ​ 37,454 37,454 Tax loss carried forward ​ (5,291) ​ (4,758) ​ (5,065) Exchange difference on translation ​ 6,693 ​ 565 (1,532) Cost at closing balance ​ 32,259 ​ 33,261 30,857 ​

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
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) 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 ​ 6,764,604 ​ — ​ 2,400,000 Total registered shares at the end of the period ​ 59,106,188 ​ 49,941,584 ​ 52,341,584 ​ ​ ​ ​ ​ ​ ​ Class of shares ​ ​ ​ ​ ​ ​ Ordinary shares ​ 53,198,170 ​ 49,941,584 ​ 52,341,584 C-shares ​ 5,908,018 ​ — ​ — Total ​ 59,106,188 ​ 49,941,584 ​ 52,341,584 - of which C shares held by Calliditas ​ 5,908,018 ​ — ​ — Total registered shares at the end of the period, net of shares held by Calliditas ​ 53,198,170 ​ 49,941,584 ​ 52,341,584 ​ ​ ​ ​ ​ ​ ​ Share capital at the end of the period ​ 2,364 ​ 1,998 ​ 2,094 ​ ​ ​ ​ ​ ​ ​ Equity attributable to equity holders of the Parent Company ​ 721,094 ​ 931,206 ​ 1,008,281 Non-controlling interests ​ — ​ 32,172 ​ — Equity at the end of the period ​ 721,094 ​ 963,378 ​ 1,008,281
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) 2022 2021 2022 2021 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per share before and after dilution, SEK (3.62) (3.22) (7.57) (5.84) (9.84) Weighted-average number of ordinary shares outstanding for the period, before and after dilution 53,190,170 49,941,584 52,788,020 49,941,584 50,829,255

Incentive Programs (Tables)

Incentive Programs (Tables)	6 Months Ended
	Jun. 30, 2022
Incentive Programs
Schedule of total cost of outstanding incentive programs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ Options ​ Share Awards ​ Total Outstanding as of ​ Outstanding Outstanding Outstanding June 30, 2022 Incentive Programs ​ ​ ​ ​ ​ ​ ​ ​ Warrant program 2019/2022 422,500 — — 422,500 Board LTIP 2020 — — 31,371 31,371 Board LTIP 2021 — — 26,968 26,968 Board LTIP 2022 — — 40,706 40,706 ESOP 2020 — 1,444,000 — 1,444,000 ESOP 2021 — 1,495,000 — 1,495,000 Total Outstanding as of June 30, 2022 422,500 2,939,000 99,045 3,460,545 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ Options ​ Share Awards ​ Total Outstanding as ​ Outstanding ​ Outstanding Outstanding of June 30, 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 Board LTIP 2021 ​ — ​ — ​ 26,968 ​ 26,968 ESOP 2020 ​ — ​ 1,485,000 — 1,485,000 ESOP 2021 ​ — ​ 510,000 ​ — ​ 510,000 Total Outstanding as of June 30, 2021 1,279,086 ​ 1,995,000 109,738 3,383,824 ​

Non-current interest-bearing _2

Non-current interest-bearing liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Non-current interest-bearing liabilities
Schedule of non-current interesting-bearing liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, (SEK in thousands) ​ 2022 ​ 2021 ​ 2021 Opening balance ​ 189,164 ​ — ​ — New borrowings ​ 236,584 ​ — ​ 199,524 Transaction costs ​ — ​ — ​ (14,858) Interest expense ​ 2,393 ​ — ​ 2,145 Exchange difference on translation ​ 9,251 ​ — ​ 2,353 Closing balance ​ 437,392 ​ — ​ 189,164

Change of presentation of exp_2

Change of presentation of expenses and IFRS 3 adjustment (Tables)	6 Months Ended
	Jun. 30, 2022
Change of presentation of expenses and IFRS 3 adjustment
Schedule of effects of the change in the statement of income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, 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 (165,097) — — (165,097) (357,485) — (357,485) Marketing and selling expenses — — (77,794) (77,794) — (179,603) (179,603) Administrative expenses (143,151) — 77,794 (65,357) (390,232) 179,603 (210,629) Other operating income/expenses (1,931) — — (1,931) (6,085) — (6,085) Operating loss (310,179) — — (310,179) (524,456) — (524,456) Net financial income/(expenses) 8,793 — — 8,793 11,083 — 11,083 Loss before income tax (301,386) — — (301,386) (513,373) — (513,373) Income tax 11,445 (7,089) — 4,356 3,836 — 3,836 Loss for the period (289,940) (7,089) — (297,030) (509,537) — (509,537)
Schedule of adjustment regarding statements of financial position	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, (SEK in thousands) ​ 2021 Adjustment 2021 ​ ​ ​ ​ ​ ​ ​ ASSETS Non-current assets Other intangible assets 433,646 (33,569) 400,078 Goodwill 47,663 (9,344) 38,320 Other non-current assets 13,663 — 13,663 Total non-current assets 494,973 (42,912) 452,060 ​ ​ ​ ​ ​ ​ ​ Current assets 736,582 — 736,582 TOTAL ASSETS 1,231,555 (42,912) 1,188,643 ​ ​ ​ ​ ​ ​ ​ EQUITY AND LIABILITIES Equity Share capital 1,998 — 1,998 Additional paid in capital 2,141,445 — 2,141,445 Retained earnings, including net loss for the period (1,205,601) (6,636) (1,212,237) Equity attributable to equity holders of the Parent Company 937,842 (6,636) 931,206 Non-controlling interests 32,860 (688) 32,172 Total equity 970,702 (7,324) 963,378 ​ ​ ​ ​ ​ ​ ​ Non-current liabilities Deferred tax liabilities 68,849 (35,588) 33,261 Other non-current liabilities 69,943 — 69,943 Total non-current liabilities 138,792 (35,588) 103,204 ​ ​ ​ ​ ​ ​ ​ Current liabilities 122,060 — 122,060 TOTAL EQUITY AND LIABILITIES 1,231,555 (42,912) 1,188,643

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - SEK (kr) kr in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contracts with Customers
Net sales	kr 64,047	kr 113,781	kr 229,347
Expected return of liability for returns and rebates		6,900
Performance obligation	0	0
USA
Revenue from Contracts with Customers
Net sales	63,627	81,590
Europe
Revenue from Contracts with Customers
Net sales	420	3,387	201,878
Asia
Revenue from Contracts with Customers
Net sales		28,804	27,469
Product sales
Revenue from Contracts with Customers
Net sales	63,627	81,590
Outlicensing of product
Revenue from Contracts with Customers
Net sales		28,804	225,252
Performance of certain regulatory services
Revenue from Contracts with Customers
Net sales	kr 420	kr 3,387	kr 4,095

Intangible Assets (Details)

Intangible Assets (Details) - SEK (kr) kr in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Intangible Assets
Cost at opening balance	kr 427,393	kr 418,825	kr 418,825
Acquisition license		16,066	16,066
Exchange difference on translation	60,886	3,506	(7,498)
Cost at closing balance			427,393
Net book value	460,304	438,397	399,418
Licenses and similar rights
Intangible Assets
Cost at closing balance	416,900	400,100
Goodwill.
Intangible Assets
Cost at closing balance	43,400	38,300
Cost at closing balance
Intangible Assets
Cost at opening balance	427,393
Cost at closing balance	488,279	kr 438,397	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 - Chan

Deferred Tax Liabilities - Change in deferred tax (Details) - SEK (kr) kr in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 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	(5,291)	(4,758)	(5,065)
Exchange difference on translation	6,693	565	(1,532)
Cost at Closing Balance	kr 32,259	kr 33,261	kr 30,857

Deferred Tax Liabilities (Detai

Deferred Tax Liabilities (Details) kr in Millions	Jun. 30, 2022 SEK (kr)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred Tax Liabilities	kr 21.6

Shareholders' Equity - Share Ca

Shareholders' Equity - Share Capital and Other Contributed Capital (Details) - SEK (kr)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 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 1,008,281,000
Total registered shares at the beginning of period	52,341,584	49,941,584	49,941,584
New issue of shares during the period	6,764,604		2,400,000
Series C shares held by the entity	kr 59,106,188	kr 49,941,584	kr 52,341,584
Total registered shares at the end of period	59,106,188	49,941,584	52,341,584
Share capital at the end of period	kr 2,364,000	kr 1,998,000	kr 2,094,000
Equity attributable to equity holders of the Parent Company	721,094,000	931,206,000	1,008,281,000	kr 1,210,491,000
Non-controlling interests		32,172,000			kr 45,809,000
Closing balance equity	kr 721,094,000	kr 963,378,000	kr 1,008,281,000
Ordinary shares
Changes in equity
Outstanding shares	53,198,170	49,941,584	52,341,584
Series C shares
Changes in equity
Series C shares held by the entity	5,908,018
Calliditas
Changes in equity
Total registered shares at the beginning of period	52,341,584
Total registered shares at the end of period	53,198,170	49,941,584	52,341,584

Shareholders' Equity - Earnings

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Shareholders' Equity
Loss per share before and after dilution (SEK)	kr (3.62)	kr (3.22)	kr (7.57)	kr (5.84)	kr (9.84)
Weighted-average number of shares outstanding for the period, before and after dilution	53,190,170	49,941,584	52,788,020	49,941,584	50,829,255
Reserves for translation from foreign operations	kr 31,269	kr (3,997)	kr 30,069	kr 2,280	kr (20,111)

Transactions in Treasury Shar_2

Transactions in Treasury Shares (Details) kr in Thousands	6 Months Ended
	Jun. 30, 2022 SEK (kr) shares
Equity, Class of Treasury Stock [Line Items]
Transfer of treasury shares | kr	kr 236
Purchase of treasury shares | kr	kr 236
Treasury shares | Series C shares
Equity, Class of Treasury Stock [Line Items]
Number of shares issued | shares	5,908,019
Number of shares repurchased | shares	5,908,018

Incentive Programs - Incentive

Incentive Programs - Incentive Programs (Details)	Jun. 30, 2022 EquityInstruments	Jun. 30, 2022	Jun. 30, 2021 EquityInstruments
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total Outstanding	3,460,545		3,383,824
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	99,045		109,738
Boards LTIP 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding	31,371		51,399
Total Outstanding	31,371		51,399
Board LTIP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding	26,968	31,371	31,371
Total Outstanding	26,968		31,371
Board LTIP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding	40,706	26,968	26,968
Total Outstanding	40,706		26,968
Board LTIP 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Awards Outstanding		40,706
Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options Outstanding	2,939,000		1,995,000
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		510,000
Total Outstanding	1,495,000		510,000

Incentive Programs - (Details)

Incentive Programs - (Details)	6 Months Ended
	Jun. 30, 2022 EquityInstruments D kr / shares	Jun. 30, 2022	Jun. 30, 2021 EquityInstruments
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 | EquityInstruments	31,371		51,399
Board LTIP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding	26,968	31,371	31,371
Board LTIP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding	40,706	26,968	26,968
Board LTIP 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Accumulated number of outstanding		40,706
ESOP 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	3 years
Trading days	10
Percentage of weighted average share price	115%
ESOP 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	3 years
Trading days	10
Percentage of weighted average share price	115%

Non-current interest-bearing _3

Non-current interest-bearing liabilities (Details) - Non-current interesting-bearing liabilities - SEK (kr) kr in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Opening balance	kr 189,164
News borrowings	236,584	kr 199,524
Transaction costs		(14,858)
Interest expense	2,393	2,145
Exchange difference on translation	9,251	2,353
Closing balance	kr 437,392	kr 189,164

Non-current interesting-bearing

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%
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 exp_3

Change of presentation of expenses and IFRS 3 adjustment - change in the statement of income (Details) - SEK (kr) kr in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disclosure of voluntary change in accounting policy [line items]
Net sales	kr 64,047		kr 113,781		kr 229,347
Research and development expenses	(96,290)	kr (75,020)	(209,633)	kr (165,097)	(357,485)
Marketing and selling expenses	(113,272)	(58,368)	(207,169)	(77,794)	(179,603)
Administrative expenses	(58,907)	(26,004)	(107,438)	(65,357)	(210,630)
Other operating expenses	(3,374)	(390)	(5,853)	(2,315)	(6,344)
Operating loss	(209,844)	(159,398)	(418,210)	(310,179)	(524,456)
Net financial income/(expenses)	17,754	(5,814)	14,686	8,793	11,083
Loss before income tax	(192,090)	(165,212)	(403,525)	(301,386)	(513,373)
Income tax	(339)	1,054	4,048	4,356	3,836
Loss for the period	kr (192,429)	kr (164,157)	kr (399,477)	(297,030)	(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				(165,097)	(357,485)
Marketing and selling expenses				(77,794)	(179,603)
Administrative expenses				(65,357)	(210,629)
Other operating expenses				(1,931)	(6,085)
Operating loss				(310,179)	(524,456)
Net financial income/(expenses)				8,793	11,083
Loss before income tax				(301,386)	(513,373)
Income tax				4,356	3,836
Loss for the period				(297,030)	(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				(165,097)	(357,485)
Administrative expenses				(143,151)	(390,232)
Other operating expenses				(1,931)	(6,085)
Operating loss				(310,179)	(524,456)
Net financial income/(expenses)				8,793	11,083
Loss before income tax				(301,386)	(513,373)
Income tax				11,445	3,836
Loss for the period				(289,940)	(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				(7,089)
Loss for the period				(7,089)
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				(77,794)	(179,603)
Administrative expenses				kr 77,794	kr 179,603

Change of presentation of exp_4

Change of presentation of expenses and IFRS 3 adjustment - Statements Of Financial Position (Details) - SEK (kr) kr in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-current assets
Total non-current assets	kr 508,151	kr 447,138	kr 452,060
Total current assets	950,142	1,012,772	736,582
TOTAL ASSETS	1,458,293	1,459,910	1,188,643
Equity
Share capital	2,364	2,094	1,998
Additional paid-in-capital	2,539,458	2,459,741	2,141,445
Retained earnings, including net loss for the period	(1,820,728)	(1,453,554)	(1,212,237)
Equity attributable to equity holders of the Parent Company	721,094	1,008,281	931,206	kr 1,210,491
Non-controlling interests			32,172		kr 45,809
Total equity	721,094	1,008,281	963,378
Non-current liabilities
Provisions	8,859	17,712	15,135
Deferred tax liabilities	32,259	30,856	33,261
Total non-current liabilities	558,705	316,183	103,204
Total current liabilities	178,494	135,446	122,060
TOTAL EQUITY AND LIABILITIES	kr 1,458,293	kr 1,459,910	1,188,643
Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Non-current assets
Other intangible assets			400,078
Goodwill			38,320
Other non-current assets			13,663
Total non-current assets			452,060
Total current assets			736,582
TOTAL ASSETS			1,188,643
Equity
Share capital			1,998
Additional paid-in-capital			2,141,445
Retained earnings, including net loss for the period			(1,212,237)
Equity attributable to equity holders of the Parent Company			931,206
Non-controlling interests			32,172
Total equity			963,378
Non-current liabilities
Deferred tax liabilities			33,261
Other non-current liabilities			69,943
Total non-current liabilities			103,204
Total current liabilities			122,060
TOTAL EQUITY AND LIABILITIES			1,188,643
Previously reported | Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Non-current assets
Other intangible assets			433,646
Goodwill			47,663
Other non-current assets			13,663
Total non-current assets			494,973
Total current assets			736,582
TOTAL ASSETS			1,231,555
Equity
Share capital			1,998
Additional paid-in-capital			2,141,445
Retained earnings, including net loss for the period			(1,205,601)
Equity attributable to equity holders of the Parent Company			937,842
Non-controlling interests			32,860
Total equity			970,702
Non-current liabilities
Deferred tax liabilities			68,849
Other non-current liabilities			69,943
Total non-current liabilities			138,792
Total current liabilities			122,060
TOTAL EQUITY AND LIABILITIES			1,231,555
Adjustment | Voluntary Changes Presenting Marketing And Selling Expenses Separately From Administrative Expenses [Member]
Non-current assets
Other intangible assets			(33,569)
Goodwill			(9,344)
Total non-current assets			(42,912)
TOTAL ASSETS			(42,912)
Equity
Retained earnings, including net loss for the period			(6,636)
Equity attributable to equity holders of the Parent Company			(6,636)
Non-controlling interests			(688)
Total equity			(7,324)
Non-current liabilities
Deferred tax liabilities			(35,588)
Total non-current liabilities			(35,588)
TOTAL EQUITY AND LIABILITIES			kr (42,912)