ABLYNX ANNOUNCES 2010 FULL YEAR RESULTS
(Thomson Reuters ONE) -
REGULATED INFORMATION
* Five Nanobody-based products in clinical trials; three in Phase II and two
in Phase I
* Good progress in preparations for three new Phase I trials to start in 2011
* Excellent financial position with ?115.9 million in cash, cash equivalents,
restricted cash and short term investments
* ?31.4 million in revenues
* Net cash burn, excluding the Secondary Public Offering, well managed at just
?23.6 million
GHENT, Belgium, 22 February 2011 - Ablynx [Euronext Brussels: ABLX] today
announced its consolidated results for 2010, which have been prepared in
accordance with IFRS as adopted by the European Union, and highlighted the
developments in its product pipeline and partnerships.
In 2010, revenues increased by 6% to ?31.4 million (2009: ?29.7 million),
primarily driven by milestone payments from Boehringer Ingelheim. Total research
and development costs increased to ?48.5 million (2009: ?42.8 million), in line
with the increasing number of pre-clinical and clinical development candidates.
General and administrative expenses remained well under control at ?8.9 million
(2009: ?9.0 million). The loss from continuing operations, before tax and net
finance income, increased to ?25.9 million (2009: ?22.2 million). The net loss
for the period was ?24.5 million (2009: ?20.0 million). In part thanks to the
successful Secondary Public Offering (SPO) in March 2010, which raised ?50
million, the Company ended the year with ?115.9 million in cash, cash
equivalents, restricted cash and short term investments.
During the last 12 months, Ablynx made significant progress in developing its
product pipeline with both its wholly-owned and collaborative programmes. At the
end of 2010, Ablynx had over 25 programmes in its R&D pipeline, including
partnered programmes, and there were five Nanobodies in clinical development.
The Company selected two Nanobodies for pre-clinical development, reported
positive interim Phase I data for its anti-RANKL Nanobody (ALX-0141), initiated
a Phase II clinical trial with its anti-vWF Nanobody (ALX-0081/ALX-0681) in an
orphan disease, and filed an IMPD for the initiation of a Phase I/II trial with
its anti-IL-6R Nanobody (ALX-0061) in patients with rheumatoid arthritis (RA).
In addition to the continued development of its internal programmes, Ablynx's
collaborations showed important progress.
For more information, please contact Ablynx:
Dr Edwin Moses
Chairman and CEO
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 /
+32 (0)473 39 50 68
e: edwin.moses(at)ablynx.com
Marieke Vermeersch
Investor Relations Manager
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch(at)ablynx.com
Complete version of the press release:
http://hugin.info/137912/R/1491433/427076.pdf
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(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: Ablynx via Thomson Reuters ONE
[HUG#1491433]
Unternehmensinformation / Kurzprofil:
Datum: 22.02.2011 - 18:00 Uhr
Sprache: Deutsch
News-ID 51800
Anzahl Zeichen: 3805
contact information:
Town:
Ghent
Kategorie:
Business News
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