DGAP-News: MOLOGEN AG makes a successful start to the new financial year - quarterly report presented
(firmenpresse) - DGAP-News: MOLOGEN AG / Key word(s): Quarter Results
MOLOGEN AG makes a successful start to the new financial year -
quarterly report presented
12.05.2011 / 08:00
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- Revenues of 10 million euro from capital increase
- European patent for renal cancer medicine MGN1601
- Further clinical trial being planned with MGN1703 in new cancer
indication
Berlin, May 12, 2011 - MOLOGEN AG has made a successful start to the new
financial year: revenues of about 10 million euro from the capital increase
carried out at the beginning of the year not only financially secure the
business activities of the company, it also offers additional room to
further expand the product pipeline. MOLOGEN AG is already investigating
the effects of MGN1703 in colorectal cancer indication, but the company
also wants to clinically test the compound in another cancer indication.
The appropriate preparations for this are already under way. It is a step
towards expanding the company even further.
The current clinical trials are proceeding as planned in the first quarter
of 2011: the renal cancer medicine MGN1601 has already demonstrated good
tolerability in the first patients of the ongoing phase I/II clinical
trial. Also, a European patent was granted in February for the cell-based
gene therapy MGN1601 - an important component in the company's portfolio.
Since April, the colorectal cancer study with MGN1703 has also been taking
place in Russia. This means that in addition to Germany, France and
Austria, MOLOGEN AG is present in another important and large market. The
intermediate evaluation of the important phase II/III of the clinical trial
is to take place in the second half of the year.
Financial figures for the first quarter of 2011
In commercial terms, MOLOGEN has continued its development as planned in
the first quarter of 2011: expenditure on research and development amounted
to 1.09 million euro, slightly below expenditure for the preceding year at
1.15 million euro. Correspondingly, the deficit also slightly reduced in
the report period to 1.50 million euro, after 1.56 million euro in the
first quarter of 2010. As expected, revenue from sales was at the same low
level as the previous year in the first three months of 2011 at 0.03
million euro. Since subsidies were received in the report period, other
operating income amounted to 0.16 million euro and was hence clearly higher
than the preceding year's figure.
Outlook
MOLOGEN AG has a solid liquidity basis with which to achieve the targets
set for the 2011 financial year, primarily due to the capital increase
carried out in the first quarter. Continuation of the clinical trials with
cancer medications MGN1703 and MGN1601 plays a central role, and the
results from the clinical trials expected later in the financial year are
of great importance to MOLOGEN AG.
About MOLOGEN AG
Die MOLOGEN AG, a German biopharmaceutical company with headquarters in
Berlin, specializes in the research and development of innovative
medications on the basis of DNA structures. The activities focus on
numerous product developments which are relevant to the immune system; on
the one hand vaccines against infectious diseases and on the other hand
cancer medications. MOLOGEN AG is globally one of the few biotechnology
companies with well tolerated DNA-based cancer treatment in theclinical
development phase.
The stocks of MOLOGEN AG are listed in the Prime Standard of the German
stock exchange (ISIN DE0006637200).
Memberships in associations:
BIO Deutschland e.V. | DECHEMA - Society for chemical technology and
biotechnology e.V. | German industrial association of biotechnology (DIB)
| Association for the Promotion of Science and Humanities in Germany |
Association of German biotechnology companies (VBU) | Association of
researching manufacturers of pharmaceuticals e.V. (VFA) | Association of
the chemical industry e.V. (VCI)
MIDGE(R), dSLIM(R) and MOLOGEN(R) are registered trademarks of MOLOGEN AG.
MOLOGEN AG
PRESS SERVICE
Prof. Peter W. Huebner
Head of Corporate Communications
Tel: +49 - 30 - 84 17 88 - 38
Tel: +49 - 30 - 84 17 88 - 50
huebner(at)mologen.com
INVESTOR RELATIONS:
Joerg PetraßTel: +49 - 30 - 84 17 88 - 13
Tel: +49 - 30 - 84 17 88 - 50
investor(at)mologen.com
External Investor Relations
Kirchhoff Consult AG
Janina Wismar
T: +49 - 40 - 60 91 86 - 50
F: +49 - 40 - 60 91 86 -16
janina.wismar(at)kirchhoff.de
Note about risk for future predictions
Certain information in this report contains forward-looking statements or
the corresponding statements with negation or versions deviating from this
or comparable terminology. These are described as forward-looking
statements. In addition, all of the information given here that refers to
planned or future results of business areas, key financial figures,
developments of the financial situation or other financial figures or
statistical data, is to be understood as such forward-looking statements.
The company points out to investors that they should not rely on these
forward-looking statements as predictions about actual future events. The
company is not obligated and refuses to accept any liability for the
forward-looking statements and has no obligation to update such statements
in order to accurately reflect the current situation.
End of Corporate News
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Language: English
Company: MOLOGEN AG
Fabeckstraße 30
14195 Berlin
Deutschland
Phone: 030 / 841788-0
Fax: 030 / 841788-50
E-mail: info(at)mologen.com
Internet: www.mologen.com
ISIN: DE0006637200
WKN: 663720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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124153 12.05.2011
Datum: 12.05.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 34061
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