DGAP-News: MOLOGEN AG Interim Financial Report: Clinical cancer studies are progressing according to plan
(firmenpresse) - DGAP-News: MOLOGEN AG / Key word(s): Half Year Results
MOLOGEN AG Interim Financial Report: Clinical cancer studies are
progressing according to plan
12.08.2011 / 08:00
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- Phase II/III of colorectal cancer study with MGN1703 have also begun in
Russia
- Clinical study II/III for the treatment of lung cancer under preparation
Berlin, 12 August 2011 - In the first half of 2011, MOLOGEN AG concentrated
above all on its ongoing clinical studies with the cancer medications
MGN1703 and MGN1601. Both studies have progressed as planned. Meanwhile the
implementation of the phase II/III colorectal cancer study with MGN1703
could also be started in Russia. The first evaluation of the interim
results is scheduled to begin in the second half of 2011. They will be the
basis for concluding licensing agreements with a partner from the
pharmaceutical industry. The interim evaluation of the phase I/II renal
cancer study with the cell-based gene therapy MGN1601 - a further promising
medication from the product pipeline in addition to MGN1703 - is due to
start soon.
Following major progress with the cancer medication MGN1703 for the
treatment of metastatic colorectal cancer in the clinical phase II/III
study, MOLOGEN has decided to also clinically test the efficacy of MGN1703
for the treatment of lung cancer. For this purpose, the medication will
also be investigated in a clinical study of Phase II/III for the treatment
of metastatic non-small cell lung cancer. The application for the new study
will be submitted shortly. 'With this decision we are expanding the product
pipeline of MOLOGEN to include an additional, very promising blockbuster
candidate in the clinical development stage. The universal mechanism of
action of MGN1703 enables us to use the medication candidate for entirely
different cancer indications. This is a decisive competitive advantage for
MOLOGEN', explains Dr. Matthias Schroff, Chief Executive Officer of MOLOGEN
AG. 'We are confidently looking forward to the interim evaluation of our
clinical studies and the further developments over the course of the year.'
Numbers for the first half of 2011 in plan
The expenditures for research and development developed in the first half
of 2011 further as planned and in accordance with the progress of the
studies: They reached 2.6 million Euro and were clearly higher than last
year's expenditures of 2.1 million Euro particularly due to the ongoing
clinical studies. While MOLOGEN's sales revenues at around 0.1 million Euro
remained at the expected low level, the other operational returns clearly
increased with 0.4 million Euro as opposed to the previous year, since more
subsidies were received in the reporting period. The losses in the
reporting period increased to 3.2 million Euro, after around 3 million Euro
in the previous year. This can be attributed to increased expenditures for
material and personnel as well as other increased operational expenses.
Cash and cash equivalents reached 11.4 million Euro on the reporting date.
The revenues of around 10 million Euro from the capital increase
implemented in February will financially secure the business activities of
the company until well into 2012.
Download the complete financial report: www.mologen.com.
About MOLOGEN AG
MOLOGEN AG, a German biopharmaceutical company with headquarters in Berlin
specializes in the research and development of innovative medicines 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
therapies. 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
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 Schumann
T: +49 - 40 - 60 91 86 - 50
F: +49 - 40 - 60 91 86 -16
janina.schumann(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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