DBV Technologies Reports First Half 2017 Financial Results
(Thomson Reuters ONE) -
Press Release
Montrouge, France, July 28, 2017
DBV Technologies Reports First Half 2017 Financial Results
DBV Technologies (Euronext: DBV - ISIN: FR0010417345 - Nasdaq Stock Market:
DBVT) today reported first half 2017 financial results. The interim financial
report is available on the Investor Relations section of the Company's website,
http://www.dbv-technologies.com/en/investor-relations. First half 2017 financial
statements were subject to a limited review by the Company's external auditors.
First Half 2017 Financial Results
Cash Position: cash and cash equivalents as of June 30, 2017, were ?198.7
million, compared to ?256.5 million as of December 31, 2016, a decrease of ?57.8
million.
Operating Income: operating income was ?7.6 million for the first half 2017
compared to ?4.8 million for the prior-year period, an increase of 60%. In the
first half 2017, income was primarily 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.
Research & Development Expenses: research and development expenses increased
by ?19.6 million, or 60%, to ?52.5 million in the first half 2017, compared
to ?32.9 million in the first half 2016, reflecting costs associated with the
ongoing Phase III and Phase II clinical trials of Viaskin Peanut and Viaskin
Milk, respectively, as well as a substantial increase in the number of research
and development personnel employed by the Company.
Sales & Marketing Expenses: sales and marketing expenses were ?8.5 million for
the first half 2017 compared to ?5.5 million for the first half 2016, reflecting
an increase of ?3.0 million, or 56%, compared to the prior-year period. The
increase in sales and marketing expenses resulted from an increase in U.S.
employee headcount and expenses related to the potential launch and
commercialization of Viaskin Peanut in North America.
General & Administrative Expenses: general and administrative expenses increased
by ?1.9 million, or 12%, to ?17.7 million for the first half 2017, compared
to ?15.8 million for the first half 2016. The increase in general and
administrative expenses was primarily attributable to an increase in global
employee headcount, costs associated with legal and professional services,
NASDAQ-listing expenses, as well as compensation and other personnel expenses.
This increase was partially offset by a decrease in insurance expenses following
the termination of the 12-month Public Offering of Security Insurance (POSI)
policy related to the Company's July 2015 follow-on offering.
Net Loss: net loss was ?72.5 million for the first half 2017, compared to ?49.4
million for the first half 2016. Loss per share (based on the weighted average
number of shares outstanding over the period) was ?(2.94) and ?(2.03) for the
first half 2017 and 2016, respectively.
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
Sara Blum Sherman
Director, Investor Relations
+1 212-271-0740
sara.sherman(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/2123721/810147.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: 28.07.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 554335
Anzahl Zeichen: 5729
contact information:
Town:
Bagneux
Kategorie:
Business News
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