DBV Technologies Reports Full Year 2016 Financial Results
(Thomson Reuters ONE) -
Press Release
Montrouge, France, March 15, 2017
DBV Technologies Reports
Full Year 2016 Financial Results
DBV Technologies (Euronext: DBV - ISIN: FR0010417345 - Nasdaq Stock Market:
DBVT) today announced its full year 2016 results. Audit procedures on the
Company's 2016 consolidated financial statements were completed by the Company's
statutory auditors. The issuance of the audit report is pending.
Full year 2016 results
Selected financial information (IFRS consolidated financial statements)
In million euros 2015 2016
----------------------------------------------------------------------------
Operating income 6.2 9.1
----------------------------------------------------------------------------
Research and development expenses (34.2) (78.8)
----------------------------------------------------------------------------
Sales and marketing expenses (0.5) (11.3)
----------------------------------------------------------------------------
General and administrative expenses (16.9) (35.0)
----------------------------------------------------------------------------
Operating profit (loss) (45.5) (116.0)
----------------------------------------------------------------------------
Net profit (loss) (44.7) (114.5)
----------------------------------------------------------------------------
Earnings (loss) per share (in ? per share) (2.08) (4.68)
----------------------------------------------------------------------------
Net cash flow used in operating activities (26.8) (59.5)
----------------------------------------------------------------------------
Net cash flow provided by financing activities 241.0 1.7
----------------------------------------------------------------------------
Net increase / (decrease) in cash and cash equivalents 208.9 (66.2)
----------------------------------------------------------------------------
Cash and cash equivalents at closing (December 31(st)) 323.4 256.5
----------------------------------------------------------------------------
Operating income for the full year of 2016 was ?9.1 million, an increase of 47%
compared to 2015. In 2016, income was mainly generated by the Company's
research tax credit (Crédit Impôt Recherche) and by income recognized under the
May 2016 collaboration agreement with Nestlé Health Science, and more
marginally, by subsidies received for research projects conducted by the
Company.
Research and development expenses in 2016 were ?78.8 million, an increase of
130% compared to 2015. This increase in expenditures resulted from costs
associated with PEPITES, PEOPLE and REALISE Phase III trials of Viaskin Peanut,
the ongoing MILES Phase I/II trial of Viaskin Milk, as well as a substantial
increase in research and development personnel to support the Company's
increasing number of active development programs.
General and administrative expenses increased to ?35.0 million in 2016 from
?16.9 million in 2015, an increase of 108%. This increase was primarily due to
increased general and administrative headcount and professional fees for
auditing, tax and legal services to support the Company's continued growth and
expanding operations.
Sales and marketing expenses were ?11.3 million in 2016 compared to ?0.5 million
for the same period in 2015. These expenses included payroll for U.S. employees,
as well as expenses related to the launch and commercialization of Viaskin
Peanut in North America, if the appropriate regulatory approvals are received.
The Company's net loss for the full year 2016 was ?(114.5) million compared to
?(44.7) million in 2015. The loss per share (based on the weighted average
number of shares outstanding over the period) was ?(4.68) and ?(2.08) for 2016
and 2015, respectively.
Net cash flows used in operating activities were ?(59.5) million and ?(26.8)
million for 2016 and 2015, respectively. The increase in 2016 resulted primarily
from continued investment in the research and development activities of the
Company.
Net cash flows from financing activities were ?1.7 million in 2016 compared to
?241.0 million in 2015 as the 2015 amount reflected the proceeds from our July
2015 follow-on offering.
About DBV Technologies
DBV Technologies is developing Viaskin®, a proprietary technology platform with
broad potential applications in immunotherapy. Viaskin is based on epicutaneous
immunotherapy, or EPIT®, DBV's method of delivering biologically active
compounds to the immune system through intact skin. With this new class of self-
administered and non-invasive product candidates, the company is dedicated to
safely transforming the care of food allergic patients, for whom there are no
approved treatments. DBV's food allergies programs include ongoing clinical
trials of Viaskin Peanut and Viaskin Milk, and preclinical development of
Viaskin Egg. DBV is also pursuing a human proof-of-concept clinical study of
Viaskin Milk for the treatment of Eosinophilic Esophagitis, and exploring
potential applications of its platform in vaccines and other immune diseases.
DBV Technologies has global headquarters in Montrouge, France and New York, NY.
Company shares are traded on segment A of Euronext Paris (Ticker: DBV, ISIN
code: FR0010417345), part of the SBF120 index, and traded on the Nasdaq Global
Select 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
DBV Technologies Contact
Susanna Mesa
Senior Vice President, Strategy
+1 212-271-0861
susanna.mesa(at)dbv-technologies.com
Media Contact
Andrea Fassacesia, Weber Shandwick
+1 212-445-8144
afassacesia(at)webershandwick.com
Media Contact Europe
Caroline Carmagnol, Alize RP, Relations Presse
+33 (0)6 64 18 99 59
caroline(at)alizerp.com
pdf version :
http://hugin.info/156437/R/2087706/787950.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: DBV Technologies via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.03.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 530201
Anzahl Zeichen: 7504
contact information:
Town:
Bagneux
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 200 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DBV Technologies Reports Full Year 2016 Financial Results"
steht unter der journalistisch-redaktionellen Verantwortung von
DBV Technologies (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
