DBV Technologies Reports Full Year 2015 Financial Results
(Thomson Reuters ONE) -
Press Release
Montrouge, France, April 7, 2016
DBV Technologies Reports
Full Year 2015 Financial Results
DBV Technologies, (Euronext: DBV - ISIN: FR0010417345 - Nasdaq Stock Market:
DBVT), a clinical-stage specialty biopharmaceutical company, announced today its
full year 2015 results. Audit procedures on the Company's 2015 consolidated
financial statements were completed by the Company's statutory auditors. The
issuance of the audit report is pending.
Full year 2015 results
Selected financial information (IFRS consolidated financial statements)
In million euros 2014 2015
------------------------------------------------------------
Total income 4.8 6.2
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Research and development expenses (21.1) (34.2)
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General and administrative expenses (8.1) (16.9)
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Operating profit (loss) (24.6) (45.6)
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Net profit (loss) (24.0) (44.7)
------------------------------------------------------------
EPS (in ? per share) (1.49) (2.08)
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Net cash flows from operating activities (20.6) (26.8)
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Net cash flows from financing activities 96.8 241.0
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Net cash flows 75.2 208.9
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Cash and cash equivalents at closing 114.6 323.4
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The Company's total income increased by 29.5 % from ?4.8 million in 2014 to ?6.2
million in 2015. These revenues were primarily in the form of research tax
credit (Crédit Impôt Recherche) and other government subsidies, and to a lesser
extent, generated from sales of Diallertest(®). Sales of Diallertest® decreased
to K?202 in 2015 compared with K?211 a year earlier, as the Company terminated
its commercial partnership related to the sale of Diallertest® during the second
half of 2015.
Research and Development expenses increased by 61.9 % from ?21.1 million in
2014 to ?34.2 million in 2015. This increase reflects increased research and
development activity, both on the pre-clinical research and clinical development
fronts, as well as the hiring of additional research and development personnel
to support these activities.
General and administrative expenses increased by 108 % from ?8.1 million in
2014 to ?16.9 million in 2015. This increase resulted from increased general and
administrative headcount to support the Company's continued growth, increased
audit fees related to the Company's listing on the NASDAQ Stock Market and
Sarbanes-Oxley compliance and increased legal and consultant fees.
The Company's net loss in 2015 amounted to ?(44.7) million compared with ?(24.0)
million in 2014. The loss per share (based on the weighted average number of
shares outstanding over the period) amounted to ?(2.08) and ?(1.49) for 2015 and
2014, respectively.
Net cash flows from operating activities in 2015 and 2014 were ?(26.8) million
and ?(20.6) million, respectively, primarily as a result of increased research
and development activity.
Net cash flows from financing activities increased to ?241.0 million in 2015
compared with ?96.8 million a year earlier, primarily as a result of the net
proceeds of our underwritten public offering of ordinary shares in the form of
American Depositary Shares completed in July 2015.
About DBV Technologies
DBV Technologies is developing Viaskin®, an innovative new approach to the
treatment of allergies - a major public health issue that has been increasing in
prevalence. DBV Technologies, incorporated in France in 2002, has developed a
proprietary, patented technology for administering an allergen to intact skin
while avoiding transfer to the blood, and thus lowering the risk of a systemic,
allergic reaction in the event of accidental exposure. DBV Technologies is
focusing on food allergies, including milk and peanut, for which there are
currently no effective treatments. DBV Technologies has designed two products
candidates: Viaskin® Peanut and Viaskin® Milk. The clinical development program
for Viaskin® Peanut has received Fast Track designation and Breakthrough Therapy
designation from the U.S. Food and Drug Administration.
DBV Technologies shares are traded on segment B of Euronext Paris (Ticker: DBV,
ISIN code: FR0010417345) and on the Nasdaq Stock Market in the form of American
Depositary Shares (each representing one-half of one ordinary share) (Ticker:
DBVT). For more information on DBV Technologies, please visit our website:
www.dbv-technologies.com
Forward Looking Statements
This press release contains forward-looking statements, including statements
reflecting management's expectations for future financial and operational
performance and business outlook; and statements regarding our research and
development efforts and the commercial potential of our product candidates
generally. These forward-looking statements are not promises or guarantees and
involve substantial risks and uncertainties. Among the factors that could cause
actual results to differ materially from those described or projected herein
include uncertainties associated generally with research and development,
clinical trials and related regulatory reviews and approvals, the risk that
historical preclinical results may not be predictive of future clinical trial
results, and the risk that historical clinical trial results may not be
predictive of future trial results. A further list and description of these
risks, uncertainties and other risks can be found in the Company's regulatory
filings with the French Autorité des Marchés Financiers, the Company's
Securities and Exchange Commission filings and reports, including in the
Company's Annual Report on Form 20-F for the year ended December 31, 2014 and
future filings and reports by the Company. Existing and prospective investors
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. DBV Technologies undertakes no
obligation to update or revise the information contained in this Press Release,
whether as a result of new information, future events or circumstances or
otherwise.
DBV Technologies Contact
Susanna Mesa
Senior Vice President, Strategy
Tel. : +1 212-271-0861
susanna.mesa(at)dbv-technologies.com
DBV Technologies Media Contacts US & Europe
Marion Janic Caroline Carmagnol
Rooney & Associates Alize RP - Relation Presse
Tel. : +1-212-223-4017 Tel. : +33(0)6 64 18 99 59
mjanic(at)rooneyco.com caroline(at)alizerp.com
Erinn White
Centron PR
Tel. : +1-646-722-8822
ewhite(at)centronpr.com
PDF Version:
http://hugin.info/156437/R/2001107/738276.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DBV Technologies via GlobeNewswire
[HUG#2001107]
Unternehmensinformation / Kurzprofil:
Datum: 07.04.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 462451
Anzahl Zeichen: 8963
contact information:
Town:
Bagneux
Kategorie:
Business News
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