DGAP-News: Cytos Biotechnology Ltd Reports First Quarter 2013 Financial Results and Recent Development
ID: 252693
(firmenpresse) - EquityStory AG-News: Cytos Biotechnology AG / Key word(s): Quarter
Results
Cytos Biotechnology Ltd Reports First Quarter 2013 Financial Results
and Recent Development
25.04.2013 / 07:00
---------------------------------------------------------------------
Cytos Biotechnology Ltd Reports First Quarter 2013 Financial Results and
Recent Development
Phase 2b clinical trial of CYT003 in allergic asthma on-going as plannedSchlieren (Zurich), Switzerland, April 25, 2013 - Cytos Biotechnology Ltd.
-
Cytos' VLP platform is basis for a phase 1 clinical trial with an Anti-
- lgE Vaccine partnered with and conducted by Pfizer
Management team further strengthened
-
The Journal of Allergy and Clinical Immunology publishes phase 2a study
- results with Cytos Biotechnology's CYT003 for the treatment of allergic
asthma
('Cytos' or the 'Company') announced today financial results and business
highlights for the quarter ended March 31, 2013.
Highlights
The Phase 2b clinical trial with its lead product candidate, CYT003, for
the treatment of allergic asthma is on-going as planned. The study is
expected to read out top-line data in 1H 2014.
Cytos' VLP vaccine platform is basis for a Phase 1 clinical trial with an
anti-IgE vaccine conducted by Pfizer. Pfizer acquired worldwide exclusive
rights to develop, manufacture and commercialize this vaccine candidate in
2009.
Cytos' management team is further strengthened by the appointment of
Matthias Alder as Executive Vice President for Corporate Development and
Legal Affairs and Cheryl Lassen as Vice President for Clinical Development.
The data from the Phase 2a clinical trial with CYT003 were published in the
March issue of The Journal of Allergy and Clinical Immunology (JACI) in the
article entitled 'The novel TLR-9 agonist QbG10 shows clinical efficacy in
persistent allergic asthma' by Kai-Michael Beeh, MD, et al. The article was
selected for comment by the JACI Editors ('The Editors' Choice') under the
heading 'Get the balance right - therapeutic immune modulation in patients
with allergic asthma'.
Financial Results
Three-month period from January 1 to March 31, 2013
On March 31, 2013, funds available for financing the operations (including
cash, cash equivalents, financial assets and trade and other receivables)
amounted to CHF 23.58 million. The funds were CHF 5.07 million less than on
December 31, 2012 (CHF 28.65 million) primarily due to expenses incurred in
ongoing operating activities.
On March 31, 2013, the nominal value of convertible bonds not held by the
Company amounted to CHF 13.17 million. Cytos did not buy back any
convertible bonds on the market during the first quarter of 2013.
Revenue comprising deferred income from licence fees paid by Novartis of
CHF 0.25 million has been recognized in the first quarter 2013, unchanged
from the first quarter 2012.
The gross cash burn for operating activities, as calculated on the cash
flow statement, was CHF 1.72 million on average per month in the first
three months of 2013, compared to CHF 1.04 million on average per month in
the first quarter of 2012.
Financial summary (IFRS, consolidated)
(in CHF million) Q1 2013 Q1 2012The detailed Q1 Financial Report 2013 can be downloaded at
Revenue 0,3 0,3
Net operating cost (4,0) (3,0)
Operating loss (3,7) (2,8)
Net (loss) / income (5,4) 2,5
Net (loss) / income per share (in CHF) (0,24) 0,47
(in CHF million) March 31, December
2013 31, 2012
Cash, cash equivalents, financial assets as well as 23,6 28,7
trade and other receivables
Full-time equivalents 22,5 20,9
http://www.cytos.com/uploads/2013/Cytos_Quarter_1_2013_E.pdf
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
---------------------------------------------------------------------
25.04.2013 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.
---------------------------------------------------------------------
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.comISIN: CH0011025217, CH0029060735
Swiss Security Number: -
Listed: Freiverkehr in Berlin, München, Stuttgart;
Frankfurt in Open Market ; SIX
End of News EquityStory AG News-Service
---------------------------------------------------------------------
208444 25.04.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.04.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 252693
Anzahl Zeichen: 8908
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 277 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Cytos Biotechnology Ltd Reports First Quarter 2013 Financial Results and Recent Development"
steht unter der journalistisch-redaktionellen Verantwortung von
Cytos Biotechnology AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
