ABLYNX ANNOUNCES 2016 FULL YEAR RESULTS
(Thomson Reuters ONE) -
REGULATED INFORMATION
Significant progress in key pre-clinical and clinical development programmes
Conference call and webcast today at 4pm CET/10am ET
GHENT, Belgium, 23 February 2017 - Ablynx [Euronext Brussels: ABLX; OTC: ABYLY]
today announced its financial results for the year ended 31(st) December 2016,
which have been prepared in accordance with IFRS as adopted by the European
Union, business highlights year-to-date and the outlook for the remainder of the
year.
* Total revenues of ?85.2 million (+10%); cash position of ?235.4 million,
strengthened by the successful private placement of new shares via an
accelerated book building procedure that raised ?74.2 million
* Net cash burn[1] of ?72.2 million, in line with the previously guided range
of ?65-75 million
* R&D highlights:
* strong recruitment of patients with acquired thrombotic thrombocytopenic
purpura (aTTP) in the Phase III HERCULES study with caplacizumab
* successful completion of two Phase IIb studies in rheumatoid arthritis
(RA) with vobarilizumab in approximately 600 patients
* completed recruitment of 312 patients with systemic lupus erythematosus
(SLE) in Phase II study of vobarilizumab
* positive topline results for the anti-respiratory syncytial virus (RSV)
Nanobody® (ALX-0171) in 53 hospitalised infants
* three Phase I trials started in partnered programmes
* initiated 19 new discovery programmes both proprietary and as part of
collaborations
* extended one pharmaceutical partnership and received four milestone
payments from partners
* Post-period highlights:
* initiated the global Phase IIb RESPIRE study of ALX-0171 in 180 infants
hospitalised as a result of a RSV infection
* encouraging Phase Ib data in the Merck KGaA partnered anti-IL-17A/F
programme in psoriasis
* submitted an application in Europe for regulatory approval of
caplacizumab for the treatment of aTTP
* Additional significant clinical and regulatory catalysts anticipated in
2017:
* topline results from the Phase III HERCULES study of caplacizumab in
aTTP patients expected in H2 2017
* initiation of the first clinical trial of a Nanobody developed as part
of the immuno-oncology collaboration with Merck & Co., Inc.
* dependent on establishing a new pharmaceutical partnership, initiation
of a Phase III programme in RA with vobarilizumab
* at least one additional Phase I start in a partnered programme
* completion of the ~300 patient systemic lupus erythematosus (SLE) study
with vobarilizumab, with topline data expected in early 2018
"We have made significant progress across a number of our key clinical
programmes during 2016 and continue to advance our growing pipeline of products
which now has more than 45 proprietary and partnered programmes" said Dr Edwin
Moses, CEO of Ablynx. "We are approaching a key inflection point with our filing
for regulatory approval of caplacizumab in Europe, results from our Phase III
trial expected in H2 2017 and commercial preparations well underway for the
first launch of the product expected in 2018. We remain focused on delivering
sustainable value to all our stakeholders and look forward to an exciting year
with multiple catalysts across our extensive pipeline."
Financial highlights
+--------------------------------+--------------+--------------+----------+
| (? million) | FY 2016 | FY 2015 | Variance |
+--------------------------------+--------------+--------------+----------+
| Total revenue and grant income | 85.2 | 77.5 | 10% |
+--------------------------------+--------------+--------------+----------+
| R&D income | 84.8 | 76.8 | 10% |
+--------------------------------+--------------+--------------+----------+
| Grants | 0.4 | 0.7 | (43%) |
+--------------------------------+--------------+--------------+----------+
| Operating expenses | (113.8) | (94.5) | 20% |
+--------------------------------+--------------+--------------+----------+
| R&D | (100.3) | (83.1) | 21% |
+--------------------------------+--------------+--------------+----------+
| G&A | (13.5) | (11.4) | 18% |
+--------------------------------+--------------+--------------+----------+
| Operating result | (28.6) | (17.0) | (68%) |
+--------------------------------+--------------+--------------+----------+
| Net financial result | 27.5 | (37.6) | > 100% |
+--------------------------------+--------------+--------------+----------+
| Net result | (1.1) | (54.5) | 98% |
+--------------------------------+--------------+--------------+----------+
| Net cash flow | (72.2) ((1)) | (67.2) ((3)) | (7%) |
+--------------------------------+--------------+--------------+----------+
| Cash* at 31 December | 235.4 ((2)) | 236.2 ((2)) | - |
+--------------------------------+--------------+--------------+----------+
((1) )excluding ?71.4 million net proceeds from the private placement (which
raised ?74.2 million, announced on 1 June 2016)
((2) ) including ?1.6 million in restricted cash
((3) ) excluding ?97.2 million net proceeds from the convertible bonds
(which raised ?100 million, announced on 20 May 2015)
* defined as liquidity position in the cash flow statement
About Ablynx
Ablynx is a biopharmaceutical company engaged in the development of
Nanobodies(®), proprietary therapeutic proteins based on single-domain antibody
fragments, which combine the advantages of conventional antibody drugs with some
of the features of small-molecule drugs. Ablynx is dedicated to creating new
medicines which will make a real difference to society. Today, the Company has
approximately 45 proprietary and partnered programmes in development in various
therapeutic areas including inflammation, haematology, immuno-oncology, oncology
and respiratory disease. The Company has collaborations with multiple
pharmaceutical companies including AbbVie, Boehringer Ingelheim, Eddingpharm,
Merck & Co., Inc., Merck KGaA, Novartis, Novo Nordisk and Taisho
Pharmaceuticals. The Company is headquartered in Ghent, Belgium. More
information can be found on www.ablynx.com.
For more information, please contact
Ablynx:
Dr Edwin Moses
CEO
t: +32 (0)9 262 00 07
m: +32 (0)473 39 50 68
e: edwin.moses(at)ablynx.com
Marieke Vermeersch
Director IR & Corporate Communications
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
e: marieke.vermeersch(at)ablynx.com
Follow us on Twitter (at)AblynxABLX
Ablynx media relations: FTI Consulting:
Julia Phillips, Brett Pollard, Mo Noonan, Matthew Moss
t: +44 20 3727 1000
e: ablynx(at)fticonsulting.com
--------------------------------------------------------------------------------
[1] Net cash burn is the difference between the cash position of the current and
the previous year minus the proceeds (net of issue costs) from the issuance of
ordinary shares and/or the issue of convertible bonds
Full version of the press release:
http://hugin.info/137912/R/2081158/783815.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ablynx via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 23.02.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 525950
Anzahl Zeichen: 8855
contact information:
Town:
Ghent/Zwijnaarde
Kategorie:
Business News
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