ABLYNX PROVIDES A BUSINESS UPDATE FOR THE FIRST QUARTER 2010
(Thomson Reuters ONE) -
GHENT, Belgium, 19 May 2010 - Ablynx [Euronext Brussels: ABLX] today provides
its non-audited business update, in compliance with the EU transparency
directive, summarising material events and Ablynx's financial position for the
first quarter of 2010.
Q1 Highlights
* ?4.4 million in revenues
* Successfully completed a Secondary Public Offering (SPO) raising ?50 million
* ?131.8 million in cash, cash equivalents and available-for-sale financial
assets and other short term investments at the end of the quarter
* Selected a new pre-clinical development candidate, ALX-0651, targeting a
GPCR (CXCR4) for hematopoietic stem cell mobilization
* Reported the successful generation of functional Nanobodies against an ion
channel
* Announced new data on pulmonary to systemic administration and needle-free
administration of Nanobodies
* Advanced ALX-0171, an anti-RSV Nanobody, into pre-clinical development for
the treatment of respiratory synctial virus (RSV) infections
* Received a ?1.2 million grant from the Flemish agency for Innovation by
Science and Technology (IWT) to further advance its anti-IL-6R programme,
ALX-0061
* Successfully opposed a half-life extension patent which had been granted to
Domantis (a member of the GlaxoSmithKline group of companies) resulting in
this patent being revoked in full
Business update
Revenues for the first quarter were ?4.4 million (2009: ?7.5 million). The
Company expects higher revenues and cash inflow in 2010 compared with 2009,
though as much of this is milestone or new deal dependent there is a degree of
uncertainty and relatively small shifts in timing can have an effect on the
final numbers. Expenses increased by 4% to ?12.0 million (2009: ?11.5 million).
This resulted in a net loss for the first quarter of ?7.4 million (2009: ?3.0
million). The Company's cash, cash equivalents and available-for-sale financial
assets were ?131.8 million at 31(st) March 2010 (2009: ?111.8 million).
For more information, please contact Ablynx:
Dr. Edwin Moses
Chairman and CEO
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 / +32 (0)473 39 50 68
e: edwin.moses(at)ablynx.com
Eva-Lotta Allan
Chief Business Officer
t: +32 (0)9 262 00 75
m: +32 (0)475 78 36 21 / +44 (0)7990 570 900
e: eva-lotta.allan(at)ablynx.com
Wim Ottevaere
Chief Financial Officer
t: +32 (0)9 262 00 08
e: wim.ottevaere(at)ablynx.com
[HUG#1416982]
Complete version of the press release: http://hugin.info/137912/R/1416982/367490.pdf
Unternehmensinformation / Kurzprofil:
Datum: 19.05.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 21107
Anzahl Zeichen: 0
contact information:
Town:
Ghent
Kategorie:
Business News
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