DGAP-News: Cytos Biotechnology Ltd announces full year 2012 financial results
(firmenpresse) - EquityStory AG-News: Cytos Biotechnology AG / Key word(s): Final
Results
Cytos Biotechnology Ltd announces full year 2012 financial results
14.02.2013 / 07:15
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Cytos Biotechnology Announces Full Year 2012 Financial Results
Schlieren (Zurich), Switzerland, February 14, 2013 - Cytos Biotechnology
Ltd (SIX:CYTN) today presented its full year 2012 financial results.
Full year consolidated financial figures 2012:
Balance Sheet
Funds available for financing the Company's operations amount to CHF 28.70
million as per December 31, 2012, and include cash and cash equivalents,
financial assets and trade and other receivables. They were slightly lower
than at the end of December 31, 2011 (CHF 28.82 million). This net change
is composed of cash increased by CHF 33.58 million due to funds being
raised in the form of equity and debt as well as payments from
collaboration partners of CHF 1.10 million and other payments of CHF 0.25
million. Cash decreased mainly due to the partial repayment of the
convertible bonds (CHF 16.14 million) which were restructured, due to
convertible bonds being purchased as well as funds (CHF 14.62 million)
mainly being spent on on-going operating activities.
As of December 31, 2012, convertible bonds with a nominal value of CHF
13.17 million maturing in February 2015 are outstanding and not held by
Cytos. In addition, convertible loan notes of CHF 6.63 million are
outstanding as per December 31, 2012 which are coming due for repayment in
February 2015.
Revenues
Revenues decreased from CHF 1.57 million in 2011 to CHF 1.10 million in
2012. In 2012 the revenue stems from license fees from Novartis of CHF 1.00
million and revenue from a technology transfer of CHF 0.10 million. In 2011
the revenue was mainly derived from licence fees from Novartis of CHF 1.00
million, as it was the case in 2012, and revenue from former contract
partners.
Cash burn
The gross cash burn for operating activities decreased from CHF 1.54
million in average per month in 2011 to CHF 1.1 million in average per
month in 2012.
Financial summary (IFRS, consolidated)The full financial statements can be found on www.cytos.com.
(in CHF million) Results 2012 Results 2011
Revenue 1.1 1.6
Net operating costs (14.6) (21.3)
Operating loss (13.5) (19.7)
Net loss (9.2) (18.8)
Net loss per share (in CHF) (0.57) (3.56)
(in CHF million) December 31, 2012 December 31, 2011
Cash, cash equivalents, 28.7 28.8
financial assets&trade
and other receivables
Full-time equivalents (number) 21 36
The full financial statements can be found on www.cytos.com.
Full year statutory financial figures 2012:
Financial summary (statutory)
(in CHF million) Results 2012 Results 2011
Revenue 1.1 1.6
Total operating expenses (20.6) (51.3)
Operating loss (19.5) (49.8)
Other income 6.5 6.2
Net loss (15.7) (41.3)
(in CHF million) December 31, 2012 December 31, 2011
Total assets 54.6 46.7
Total liabilities 37.3 42.1
Shareholder's equity 17.3 4.6
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For further information, please contact:
Cytos Biotechnology Ltd
Harry Welten
Chief Financial Officer
Tel: +41 44 733 46 46
e-mail: harry.welten(at)cytos.com
US Investor enquiries
Susan A. Noonan
Tel: +1 (212) 966 3650
e-mail: susan(at)sanoonan.com
About Cytos Biotechnology Ltd
Cytos is a public biopharmaceutical company focused on the development of
targeted immuno-therapies. The Company's lead product candidate CYT003 is a
first-in-class biologic in Phase 2 clinical development as a potential new
treatment for allergic asthma.
CYT003 acts via a novel, allergen-independent mechanism of action to
selectively suppress the body's immune response to allergens, a predominant
risk factor for asthma. In a successfully completed Phase 2a study, CYT003
was shown to maintain asthma control and lung function and asthma control
in patients with persistent allergic asthma, even as standard inhaled
corticosteroid treatment was withdrawn. CYT003 has been shown to be safe in
over 450 patients to date.
Cytos was founded in 1995 as a spinoff from the Swiss Federal Institute of
Technology (ETH) in Zurich. It is located in Schlieren (Zurich),
Switzerland. The Company is listed according to the Main Standard on the
SIX Swiss Exchange Ltd under the symbol CYTN.
www.cytos.com
This foregoing press release may contain forward-looking statements that
include words or phrases such as 'are intended for', 'are designed to', or
other similar expressions. These forward-looking statements are subject to
a variety of significant uncertainties, including scientific, business,
economic and financial factors, and therefore actual results may differ
significantly from those presented. There can be no assurance that any
further therapeutic entities will enter clinical trials, that clinical
trial results will be predictive for future results, that therapeutic
entities will be the subject of filings for regulatory approval, that any
drug candidates will receive marketing approval from the U.S. Food and Drug
Administration or equivalent regulatory authorities, or that drugs will be
marketed successfully. Against the background of these uncertainties
readers should not rely on forward-looking statements. The Company assumes
no responsibility to update forward-looking statements or adapt them to
future events or developments.
End of Corporate News
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14.02.2013 This press release was distributed by EQS CORPORATE
COMMUNICATIONS.
www.eqs.com - news archive: www.eqs.com/ch/presskit
The issuer is responsible for the contents of the release.
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Language: English
Company: Cytos Biotechnology AG
Wagistr. 25
8952 Schlieren
Switzerland
Phone: +41 44 733 4747
Fax: +41 44 733 4740
E-mail: info(at)cytos.com
Internet: www.cytos.com
ISIN: CH0011025217, CH0029060735
Swiss Security Number: -
Listed: Freiverkehr in Berlin, München, Stuttgart;
Open Market in Frankfurt; SIX
End of News EquityStory AG News-Service
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