DGAP-News: MOLOGEN AG: Promising start to 2012 business year - Quarterly report submitted
(firmenpresse) - DGAP-News: MOLOGEN AG / Key word(s): Quarter Results
MOLOGEN AG: Promising start to 2012 business year - Quarterly report
submitted
15.05.2012 / 08:00
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MOLOGEN AG: Promising start to 2012 business year - Quarterly report
submitted
- Phase II colorectal cancer study with MGN1703 confirms proof of concept
- Very good data from phase I/II renal cancer study with MGN1601
- Patent protection in other countries expanded
- Financial basis secured into 2013
Berlin, May 15, 2012 - The Berlin biotechnology company MOLOGEN AG was able
to present very good clinical data from the phase I/II study with product
candidate MGN1601 in the area of renal cancer during the first quarter of
2012.
The expansion of patent protection for MGN1601 into the important foreign
market of Japan is likewise a significant milestone with regard to the
future development of this promising compound. In March 2012, MOLOGEN
applied for a phase II lung cancer study for product candidate MGN1703,
whose universal mode of action is applicable to various cancer indications.
The study is scheduled to begin this year, and preparations are underway.
Yesterday, the company was also able to announce excellent data for MGN1703
from the phase II colorectal cancer study. The compound showed
statistically significant efficacy in the indication of colorectal cancer
while simultaneously being very well tolerated.
A capital increase effected at the end of the quarter totaling EUR 2.7
million, which was successfully concluded in April, strengthened the
financial basis. Research and development activities have thus been secured
into 2013.
Operating activities went according to plan for the period from January to
March 2012 and were accompanied by a slight increase in expenditures for
research and development in comparison to the same quarter of the previous
year.
'The first quarter of 2012 was a smooth start to the new business year for
us. The excellent results for both our product candidates are forming a
strong basis for further positive business development,' said Jörg Petraß,
Chief Financial Officer of MOLOGEN AG.
Earnings and financial position
As in the previous year, MOLOGEN's revenue for the first quarter of 2012 of
EUR 0.03 million was, as expected, at a low level. In addition, other
operating income from the receipt or realization of subsidies totaled EUR
0.1 million. Net loss for the first quarter of 2012 was EUR 1.8 million.
This loss was EUR 0.3 million larger than in the same period of the
previous year. The expansion of R&D activities by comparison to the first
quarter of 2011 was the primary factor driving this. R&D activities were
expanded primarily in the area of clinical studies, the progress of which
necessitated a greater use of internal and external resources. This led to
a higher cost of materials and slightly higher personnel costs.
Due to the effected capital increase, cash and cash equivalents totaled EUR
7.6 million as of the reporting date, March 31, 2012, despite the increase
in costs. This is slightly higher than the value as of December 31, 2011
(EUR 7.5 million). Share capital was increased from EUR 12,459,275 to EUR
12,759,275 by the issuance of 300,000 new shares at a price of EUR 9.00 per
share. The increase was recorded in the commercial register in April 2012.
www.mologen.com.
About MOLOGEN AG
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 the clinical 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
Fax: +49 - 30 - 84 17 88 - 50
huebner(at)mologen.com
INVESTOR RELATIONS:
Joerg Petrass
Tel: +49 - 30 - 84 17 88 - 13
Fax: +49 - 30 - 84 17 88 - 50
investor(at)mologen.com
External Investor Relations:
Kirchhoff Consult AG
Sebastian Bucher
Tel: +49 - 40 - 60 91 86 - 18
Fax: +49 - 40 - 60 91 86 -16
sebastian.bucher(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
Germany
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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169874 15.05.2012
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Datum: 15.05.2012 - 08:00 Uhr
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