Jerini AG Reports Financial Results for First Half 2009
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Berlin, August 14, 2009 - Jerini AG (FSE:JI4) reported financialresults for the first six months ended June 30, 2009. UnderInternational Financial Reporting Standards (IFRS), total revenuesfor this period increased by 82 percent to EUR 4.0 million (comparedto EUR 2.2 million in the prior year period). Revenues from productsales of Firazyr® amounted to EUR 1.4 million (prior year period:? nil). Revenues from collaboration agreements increased to EUR 2.6million (prior year period: EUR 2.2 million). Cash andcash-equivalents, excluding restricted cash in the amount of EUR 0.3million, amounted to EUR 16.2 million (prior year period: EUR 17.6million).Research and development expenses decreased to EUR 8.3 million inthis six-month period (compared to EUR 9.6 million in the prior yearperiod). Sales and distribution costs decreased to EUR 2.9 million(prior year period: EUR 5.3 million) due to expenses in 2008 for thepreparation of Firazyr®'s product launch. General and administrativeexpenses increased to EUR 7.2 million (prior year period: EUR 5.4million). Losses from operations before tax and finance costs (EBIT)decreased to EUR 14.0 million (compared to EUR 17.9 million in theprior year period). Net loss from continuing operations for thisperiod decreased to EUR 9.6 million (prior year period: EUR 17.2million), and loss per share amounted to EUR 0.16 (prior year period:EUR 0.33).Net cash burn for the first six months of 2009 amounted to EUR 9.7million (prior year period: EUR 20.1 million). Net cash burn iscalculated by the addition of cash used in operating activities(EUR 14.9 million) and cash provided by investing activities (EUR 0.1million) as well as cash provided by the divestment of JPT PeptideTechnologies GmbH (EUR 5.3 million), as disclosed in the unauditedconsolidated cash-flow statements for the six-month period ended June30, 2009.OutlookShire Deutschland Investments GmbH currently holds more than 98percent of Jerini's outstanding shares. Upon registration in thecommercial register of the squeeze-out resolution adopted at Jerini'sShareholders' Meeting on June 16, 2009, Shire Deutschland InvestmentsGmbH will hold 100 percent of Jerini's outstanding shares. Ascompensation, minority shareholders will receive cash compensation ofEUR 7.53 per share from Shire Deutschland Investments GmbH. After thecompletion of the squeeze-out, Jerini plans to review the options forintegration into the Shire Group of Companies.About Jerini AGJerini is a pharmaceutical company based in Berlin, Germany. On July3, 2008, Jerini and Shire plc's German wholly-owned indirectsubsidiary Shire Deutschland Investments GmbH entered into a businesscombination agreement regarding a strategic partnership. Jerini isnow a subsidiary of Shire plc and a member of the Shire group ofcompanies. Shire currently holds more than 98 percent of Jerini'sshares.ISIN: DE0006787476For questions, please contact:Stacy WiedenmannDirector Investor Relations &Corporate CommunicationsJerini AGInvalidenstr. 13010115 BerlinT + 49 - 30 - 97893 - 285X + 49 - 30 - 97893 - 105wiedenmann(at)jerini.comhttp://hugin.info/135931/R/1334997/317122.pdf --- End of Message ---Jerini AGInvalidenstrasse 130 Berlin GermanyWKN: 678747; ISIN: DE0006787476; Index: CDAX, Prime All Share, TECH All Share;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Berlin, Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Börse Düsseldorf, Regulierter Markt in Frankfurter Wertpapierbörse;
Datum: 14.08.2009 - 18:35 Uhr
Sprache: Deutsch
News-ID 4742
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