ABLYNX ANNOUNCES ITS Q1 2011 BUSINESS UPDATE
(Thomson Reuters ONE) -
REGULATED INFORMATION
* Six products in clinical trials; three in Phase II, one in Phase I/II, and
two in Phase I
* Start of Phase I/II study with anti-IL-6R Nanobody® in RA patients
* Excellent financial position with ?107.3 million in cash, cash equivalents,
restricted cash and short term investments
* ?3.9 million in revenues
* Net cash burn well managed at just ?8.6 million
* Post 31 March 2011: first clinical proof-of-concept with a Nanobody
GHENT, Belgium, 18 May 2011 - Ablynx [Euronext Brussels: ABLX] today announced
its non-audited business update, in compliance with the European transparency
directive, summarising material pipeline events and Ablynx's financial position
for the first quarter of 2011.
Total revenues for the quarter decreased to ?3.9 million (2010: ?4.4 million)
while R&D income increased to ?3.4 million (2010: ?3.2 million). Total expenses
increased to ?18.1 million (2010: ?12.0 million), mainly driven by higher R&D
costs as a result of the progress of the product pipeline. The net loss for the
period was ?13.8 million (2010: ?7.4 million). The net cash burn during the
first quarter remained well under control at just ?8.6 million. Ablynx's cash,
cash equivalents, restricted cash and short term investments were ?107.3 million
at 31 March 2011 (2010: ?131.8 million, including the net proceeds of ?47.2
million from the Secondary Public Offering).
During the first quarter, the Company continued to make progress in its internal
product pipeline. In January, Ablynx published additional interim Phase I data
for its anti-RANKL Nanobody, ALX-0141, in 42 healthy post-menopausal women. At
this nine month time point, ALX-0141 continued to show statistically significant
suppression of the bone biomarker CTX-1 following a single subcutaneous injected
dose of 1mg/kg, which confirms the product's prolonged high biological activity.
In addition, no serious safety side effects were reported. In March, Ablynx
initiated a Phase I/II clinical trial with its anti-IL-6R Nanobody, ALX-0061, it
is expected that 72 patients with rheumatoid arthritis (RA) will be recruited in
this study. As a result of the progression of ALX-0061, the number of Nanobodies
in clinical development increased from five to six.
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/1516994/453437.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters 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: Ablynx via Thomson Reuters ONE
[HUG#1516994]
Unternehmensinformation / Kurzprofil:
Datum: 18.05.2011 - 18:00 Uhr
Sprache: Deutsch
News-ID 54797
Anzahl Zeichen: 3577
contact information:
Town:
Ghent
Kategorie:
Business News
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