ThromboGenics Business Update - H1 2017
(Thomson Reuters ONE) -
Press release
7 September, 2017
Regulated Information
Good Progress in Advancing Diabetic Eye Disease Portfolio
Oncurious NV grows pipeline with 5 immuno-oncology assets from VIB
Cash Position - ?65.1 Million end H1 2017
Highlights
* ThromboGenics is making good progress in advancing its portfolio of
innovative medicines for the treatment of diabetic eye disease: its pipeline
consists of 4 compounds targeting novel treatments for diabetic retinopathy
(DR) - non-proliferative diabetic retinopathy (NPDR) and proliferative
diabetic retinopathy (PDR) - in the presence or absence of diabetic macular
edema (DME)
* ThromboGenics is conducting a Phase II clinical study evaluating THR-317
(anti-PlGF) for Diabetic Macular Edema (DME). The trial was initiated in
January 2017 and assesses THR-317's ability to improve best-corrected visual
acuity (BCVA) and to reduce central retinal thickness in subjects with DME.
Study results are expected during Q1 2018.
* ThromboGenics is conducting a Phase IIa clinical study (CIRCLE) evaluating
THR-409 (ocriplasmin) to induce complete posterior vitreous detachment
(total PVD) and to prevent progression to PDR (a serious sight threatening
condition) in patients with NPDR.
* ThromboGenics is making good progress with its late-stage preclinical
pipeline:
* THR-687 (integrin antagonist) is being developed to treat a broad range
of patients with diabetic retinopathy, with or without DME. THR-687 is
expected to enter the clinic in H1 2018
* THR-149 (pKal inhibitor) is being developed to treat edema associated
with diabetic retinopathy. THR-149 is expected to enter the clinic in H1
2018.
* ThromboGenics and BioInvent amended their long-standing agreement, which
covers co-development of the novel anti-PlGF monoclonal antibody products
(known as THR-317 and TB-403). Under the revised agreement, ThromboGenics
will gain full and exclusive ownership of THR-317 for development and
commercialization in all non-oncology indications. BioInvent will have a 5%
share in the economic value of THR-317. The agreement will also see
BioInvent increase its economic stake in the TB-403 project from 40% to
50%. The costs of this project will continue to be shared equally.
* The European Commission granted orphan drug designation to TB-403 in January
2017. Oncurious NV is developing TB-403 for treatment of medulloblastoma,
the most common pediatric malignant brain tumor.
* In August 2017, Oncurious announced agreement with VIB for expanding its
pipeline with 5 unique next generation immuno-oncology (IO) assets for
treatment of a broad spectrum of cancers.
* In H1 2017, ThromboGenics reported overall revenues of ?2.7 million from
JETREA(®), including ?0.8 million in royalty income from its partner Alcon
(Novartis).
* Cash and investments were ?65.1 million as of the end of June 2017. This
compares to ?80.1 million as of December 31, 2016.
Leuven, Belgium - 7 September 2017 - ThromboGenics NV (Euronext Brussels: THR),
a biotechnology company developing novel medicines for diabetic eye disease,
today issues a business update for the six month period ending 30 June, 2017.
ThromboGenics is developing an industry-leading pipeline of disease modifying
drug candidates for diabetic eye disease, particularly diabetic retinopathy (DR)
and diabetic macular edema (DME).
The clinical pipeline consists of THR-409 and THR-317, both from the Company's
in-house research. The Company's pre-clinical candidates are THR-687, which was
in-licensed from Galapagos NV in March 2016 and THR-149, which resulted from a
research collaboration with Bicycle Therapeutics.
These products all have different modes of action and will allow the Company to
address the four key segments of the rapidly growing diabetic eye disease
market:
* Non-proliferative DR
* Proliferative DR
* Non-proliferative DR with DME
* Proliferative DR with DME
Dr. Patrik De Haes, ThromboGenics CEO, said: "ThromboGenics' pipeline, both
clinical and pre-clinical, which is targeting the key segments of the diabetic
eye disease market, is progressing well. With first results from our Phase II
clinical study for THR-317 in the treatment of Diabetic Macular Edema expected
in Q1 2018, and our pre-clinical products candidates poised to enter the clinic,
we are well positioned to deliver multiple milestones over the next 12 months
that could create significant value for our shareholders."
Progressing Preclinical and Clinical Development of Treatments for Diabetic Eye
Disease
Diabetic retinopathy (DR) is the leading cause of visual disability and
blindness among professionally active adults. More than one in three living with
diabetes (35.4%) will develop some form of DR in their lifetime. One in five
patients with DR presents with sight threatening diabetic macular edema (DME).
ThromboGenics pipeline comprises of:
* THR-317 - a PlGF inhibitor under development for DME and potentially as a
combination therapy with current anti-VEGF treatments for DME or DR. THR-
317 entered the clinic at the beginning of 2017. First Phase II results are
expected in Q1 2018.
* THR-409 (ocriplasmin) - is being evaluated in a Phase IIa (CIRCLE) clinical
study assessing the efficacy and safety of different dose levels of THR-409
in inducing total posterior vitreous detachment (PVD) in patients with non-
proliferative diabetic retinopathy (NPDR).
* THR-687 - an integrin antagonist under development to treat a broad range of
patients with DR, with or without DME. THR-687 was in-licensed from
Galapagos NV in 2016. THR-687 is expected to enter the clinic in H1 2018.
* THR-149 - a selective plasma kallikrein inhibitor under development to treat
the edema associated with DR. This compound results from the Company's
research collaboration with Bicycle Therapeutics. ThromboGenics has started
pivotal toxicology studies and is preparing for clinical development,
expected to start in H1 2018.
THR-317 - anti-PlGF antibody to treat DME
ThromboGenics enrolled the first patients in a Phase II, single-masked,
multicenter exploratory study evaluating the safety and efficacy of two dose
levels of THR-317 for the treatment of diabetic macular edema (DME) in January
2017.
THR-317 (anti-PlGF) is a recombinant human monoclonal antibody directed against
the receptor-binding site of human placental growth factor (PlGF).
The Phase II study will evaluate the safety of three intravitreal injections of
two dose levels of THR-317 (4 mg or 8 mg). The trial will also assess THR-317's
ability to improve best-corrected visual acuity (BCVA) and to reduce central
retinal thickness in subjects with DME.
The study plans to enroll a total of 50 patients (including 10 anti-VEGF
treatment resistant patients) over a period of about 12 months. The first
results from the study are expected in Q1 2018.
ThromboGenics believes that THR-317 holds potential as a therapy for treatment
of DME or DR, as a stand-alone therapy for patients who are not responding well
to anti-VEGF, or as an add-on treatment with anti-VEGF medicines.
At the ARVO meeting's Diabetic Retinopathy session in May a presentation on THR-
317, entitled "Neutralization of placental growth factor as a novel treatment
option in diabetic retinopathy", took place. The study presented looked at the
effects of PlGF inhibition on the hallmarks of DR and concluded that PlGF
neutralization was equally efficacious compared to VEGF inhibition in terms of
vascular leakage, but unlike VEGF inhibition, it also reduces inflammation and
fibrosis, without triggering a neurodegenerative response.
In July 2017, ThromboGenics and BioInvent agreed to amend their long-standing
agreement, which covers co-development of the novel anti-PlGF monoclonal
antibody products, including THR-317 which ThromboGenics is developing for the
treatment of DME. Under the amended arrangement, ThromboGenics gains full and
exclusive ownership of THR-317 for development and commercialization in all non-
oncology indications. ThromboGenics will continue to carry all costs for
development of THR-317 in non-oncology indications, and BioInvent is entitled to
five percent of the project's economic value. The definitive amended agreement
will be put into place by Q3 2017.
THR-409 for Non Proliferative Diabetic Retinopathy - CIRCLE Study
The CIRCLE study is evaluating the ability of multiple doses of THR-409
(ocriplasmin) to induce a total PVD in patients with NPDR. The study is also
assessing the safety of multiple doses of THR-409.
ThromboGenics aims to reduce the risk of disease progression to PDR by inducing
a total PVD using THR-409. Research has suggested that total PVD, a complete
separation of vitreous and retina, could prevent the progression of NPDR to PDR.
The CIRCLE study is a Phase II, randomized, double-masked, sham-controlled,
multi-center study that will evaluate the efficacy and safety of up to 3
intravitreal injections of either 0.125mg or 0.0625mg of THR-409 in subjects
with moderate to severe NPDR, to induce total PVD in order to reduce the risk of
the patient developing sight-threatening PDR.
In December the protocol of the CIRCLE study was amended to allow the trial to
recruit from a broader pool of patients. Patient recruitment has picked up
following this protocol amendment.
The primary endpoint of the CIRCLE study is the percentage of patients with
total PVD by the month 3 visit, confirmed by both B-scan ultrasound and SD-OCT.
Furthermore, 2 year follow up of patients may provide insights into THR-409's
potential to reduce the risk of progressing from NPDR to PDR.
Further Supportive Ocriplasmin Clinical and Health Economics Data reported
ThromboGenics pioneered the pharmacological vitreolysis drug class through the
development of JETREA® (ocriplasmin), the only pharmacological vitreolysis drug
approved for the treatment of symptomatic vitreomacular adhesion and
vitreomacular traction in over 54 countries globally. Since its first
introduction in early 2013, over 27,000 patients have been treated with JETREA®.
ARVO 2017 Baltimore: Ocriplasmin data presentations underwrite continued
interest
11 ocriplasmin-related presentations, abstracts and posters were delivered at
ARVO (Association for Research in Vision and Ophthalmology) 2017 Annual Vision
Research Meeting in Baltimore. These covered preclinical research findings,
real-world clinical data, and further characterization of results from different
studies, including OASIS and ORBIT and the cost effectiveness of ocriplasmin.
New Ocriplasmin clinical and health economic data were presented at ASRS 2017
meeting in Boston
At the 35th Annual Scientific Meeting of the American Society of Retina
Specialists (ASRS) held in Boston, ThromboGenics delivered two poster
presentations.
The first poster presentation was entitled "'Comparison of Visual Results in
Patients Receiving Vitrectomy for Macular Hole in One Eye and Ocriplasmin for
Vitreomacular Traction in the Fellow Eye' (by Arshad M. Khanani et al).
In his conclusion, Arshad M. Khanani MD, MA, Managing Partner and Director of
Clinical Research, Sierra Eye Associates and Clinical Associate Professor,
University of Nevada, Reno, commented: "Patients who underwent PPV for FTMH
benefited from early ocriplasmin treatment in their other eye with VMT that had
not progressed to a FTMH. By administering ocriplasmin to these patients we
could potentially avoid development of FTMH in the VMT eye with ocriplasmin
administration, thus avoiding a second PPV."
In the second poster presentation, entitled 'Budget Impact Analysis of
Ocriplasmin for the Treatment of Vitreomacular Traction in the United States',
Peter K. Kaiser, MD, Department of Ophthalmology, Cole Eye Institute, Cleveland
Clinic, Cleveland, OH presented data from the OASIS randomized trial, a 2-year
follow-up study evaluating ocriplasmin for the treatment of symptomatic VMA
(VMT) including macular hole. He also presented a new budget impact model that
was developed in accordance with the principles of good practice published by
the International Society for Pharmacoeconomics and Outcomes Research.
Dr. Kaiser concluded that "The use of ocriplasmin injections for VMT may be
affordable to US health plans, as its costs could be offset by an expected
reduction in the number of PPVs and a reduction in overall complications. Future
research on the cost-effectiveness of ocriplasmin in patients with VMT will be
forthcoming to further determine the economic impact of ocriplasmin injections."
Oncurious Update
Growing pipeline with 5 unique next generation immuno-oncology assets
In August 2017, Oncurious reached principle agreement with VIB to acquire
exclusive licences to a portfolio of five unique next generation immuno-oncology
assets, based on seminal work originating from the VIB-KU Leuven labs of
Massimiliano Mazzone and Gabriele Bergers, and from the VIB-VUB lab of Jo Van
Ginderachter. With this acquisition, Oncurious broadens its ongoing clinical
development activities in orphan pediatric oncology indications with preclinical
research and drug development programs, resulting in an exciting pipeline of
next-generation immuno-oncology drugs targeting a broad spectrum of cancers.
VIB Discovery Sciences will take the lead in the pre-clinical development of
these new projects. As part of this agreement, VIB will increase its stake in
Oncurious, with ThromboGenics remaining the majority shareholder. VIB will also
receive a royalty on future sales of any of these assets. ThromboGenics invests
an additional ?2.1 million in Oncurious.
Clinical Update: TB-403 for Pediatric Brain Cancers
TB-403 is a humanized monoclonal antibody against placental growth factor
(PlGF). PlGF is expressed in several types of cancer, including medulloblastoma.
High expression of the PlGF receptor neuropilin 1 has been shown to correlate
with poor overall survival.
Medulloblastoma is the most common pediatric malignant brain tumor, accounting
for 20% of all brain tumors in children. Treatment with TB-403 in relevant
animal models for medulloblastoma has demonstrated beneficial effects on tumor
growth and survival.
In May 2016, a Phase I/IIa study was initiated with TB-403. The study, which is
being conducted by Beat Childhood Cancer (formerly known as NMTRC), aims to
recruit 27 patients with Relapsed or Refractory Medulloblastoma. Patient
recruitment is on-going.
In January 2017, the European Commission confirmed orphan drug designation for
TB-403 for medulloblastoma. The orphan designation allows a pharmaceutical
company to benefit from incentives from the European Union to develop a medicine
for a rare disease, such as reduced fees and protection from competition once
the medicine is on the market.
TB-403 is being developed by Oncurious in conjunction with BioInvent
International.
In July, ThromboGenics and BioInvent amended their long-standing monoclonal
antibody development agreement. In the amended agreement, BioInvent assumes the
project lead for the development of TB-403 in all oncology indications and will
increase its share in the economic value of TB-403 from 40% to 50%. Both parties
will continue to share equally the costs of developing TB-403 for oncology
indications. The definitive amended agreement will be put into place by Q3 2017.
Financial & Corporate Update
Financial Update
In the first half of 2017, ThromboGenics generated total revenues of ?2.7
million, including ?1.9 million of product sales in the US and ?0.8 million in
royalty income based on ex-US sales of JETREA®. In the corresponding period in
2016, ThromboGenics reported a total income of ?4 million.
During the first six months of 2017, the group reported a gross profit of ?0.8
million.
ThromboGenics' R&D expenses for the first half of 2017 amounted to ?10.5
million, compared to ?12.0 million for the same period in 2016. The first half
of 2017 figure included ?1.6 million for amortization of intangible assets
relating to the ocriplasmin Phase III program in the VMA/VMT indication,
compared with ?3.4 million in the same period in 2016.
In the first half of 2017, selling and marketing expenses amounted to ?2.1
million compared with ?2.2 million in H1 2016.
For the first half of 2017, ThromboGenics reported a net loss of ?15.2 million,
or ?0.42 per share. This is on a par with the corresponding period in 2016 when
the Company reported a net loss of ?15.0 million or ?0.42 per share.
As of June 30 2017, ThromboGenics had ?65.1 million in cash and investments.
This compares to ?80.1 million as of December 31, 2016.
Corporate Update: Chairman and Board of Directors
Effective 15 June 2017, ThromboGenics' long-time non-executive director Mr.
Thomas Clay was appointed Chairman of the Board of Directors. The appointment
coincided with the retirement of Staf Van Reet, PhD (former Chairman of the
Board) from ThromboGenics.
Thomas Clay is Vice-President of East Hill Management, a US-based investment
company. He also serves as the Chairman and CEO of Golden Queen Mining Co.,
Ltd., and is a Director of the Clay Mathematics Institute.
Thomas Clay has been a non-executive Director of ThromboGenics NV since 2011. In
that year, he replaced his father, Landon T. Clay, who led the first external
investment in ThromboGenics back in 2001 when the Company was private.
Effective 8 September 2017, Luc Philips (Lugo BVBA) and Patricia Ceysens
(Innov'Activ BVBA) retire from the Board of ThromboGenics nv.
END
For further information please contact:
+---------------------------------------+--------------------------------------+
|ThromboGenics |Citigate Dewe Rogerson |
|Wouter Piepers, |David Dible/Sylvie Berrebi/Isabelle|
|Global Head of Corporate Communications|Andrews |
|& IR | |
| |Tel: +44 20 7282 2867 |
|+32 16 75 13 10 / +32 478 33 56 32 |david.dible(at)citigatedr.co.uk |
|wouter.piepers(at)thrombogenics.com |Sylvie.berrebi(at)citigatedr.co.uk |
| | |
+---------------------------------------+--------------------------------------+
About ThromboGenics
ThromboGenics is a biopharmaceutical company focused on developing innovative
treatments for diabetic eye disease. The company's pipeline of disease modifying
drug candidates is targeting the key segments of the diabetic eye disease
market.
ThromboGenics is currently enrolling patients in a Phase II clinical study
evaluating THR- 317, a PlGF inhibitor that is being developed for the treatment
of diabetic macular edema, as a stand-alone or as a combination therapy with
anti-VEGF treatments.
ThromboGenics is also conducting a Phase IIa clinical trial evaluating multiple
doses of THR-409 (ocriplasmin) to induce a total Posterior Vitreous Detachment
in patients with Non-Proliferative Diabetic Retinopathy (NPDR).
In addition, THR-149, a plasma kallikrein inhibitor, which has resulted from
research collaboration with Bicycle Therapeutics, and THR-687, an integrin
antagonist, which was in-licensed from Galapagos, are in late stage pre-clinical
development.
ThromboGenics pioneered a new drug category of pharmacological vitreolysis with
JETREA® (ocriplasmin) which is now approved for the treatment of vitreomacular
traction in 54 countries worldwide. ThromboGenics is commercializing JETREA® via
its subsidiary ThromboGenics, Inc. in the US. Novartis commercializes JETREA®
outside the United States.
ThromboGenics is headquartered in Leuven, Belgium, and is listed on the NYSE
Euronext Brussels exchange under the symbol THR. More information is available
at www.thrombogenics.com
Important information about forward-looking statements
Certain statements in this press release may be considered "forward-looking".
Such forward-looking statements are based on current expectations, and,
accordingly, entail and are influenced by various risks and uncertainties. The
Company therefore cannot provide any assurance that such forward-looking
statements will materialize and does not assume an obligation to update or
revise any forward-looking statement, whether as a result of new information,
future events or any other reason. Additional information concerning risks and
uncertainties affecting the business and other factors that could cause actual
results to differ materially from any forward-looking statement is contained in
the Company's Annual Report.
This press release does not constitute an offer or invitation for the sale or
purchase of securities or assets of ThromboGenics in any jurisdiction. No
securities of ThromboGenics may be offered or sold within the United States
without registration under the U.S. Securities Act of 1933, as amended, or in
compliance with an exemption therefrom, and in accordance with any applicable
U.S. state securities laws.
Consolidated key figures as of June 30, 2017
Unaudited Consolidated statement of financial position
+----------------------------------------------------------------------------+
| In '000 euro (for the period ended on) June 30, 2017 December 31, 2016 |
+----------------------------------------------------------------------------+
| |
+----------------------------------------------------------------------------+
| Property, plant and equipment 1,455 1,743 |
+----------------------------------------------------------------------------+
| Intangible assets 24,323 25,902 |
+----------------------------------------------------------------------------+
| Goodwill 0 0 |
+----------------------------------------------------------------------------+
| Other non-current assets 161 202 |
+----------------------------------------------------------------------------+
| Non-current tax receivable 996 2,350 |
+----------------------------------------------------------------------------+
| Inventories 2,296 2,614 |
+----------------------------------------------------------------------------+
| Trade and other receivables 6,600 7,672 |
+----------------------------------------------------------------------------+
| Current tax receivable 2,073 1,085 |
+----------------------------------------------------------------------------+
| Investments 21,720 21,817 |
+----------------------------------------------------------------------------+
| Cash and cash equivalents 43,417 58,251 |
+----------------------------------------------------------------------------+
| Employee benefits 0 0 |
+----------------------------------------------------------------------------+
| Total assets 103,041 121,636 |
+----------------------------------------------------------------------------+
| Total equity 94,733 109,859 |
+----------------------------------------------------------------------------+
| Current liabilities 8,308 11,777 |
+----------------------------------------------------------------------------+
| Total equity and liabilities 103,041 121,636 |
+----------------------------------------------------------------------------+
Unaudited Consolidated statement of profit and loss
+--------------------------------------------------------------------+
| In '000 euro (for the period ended on June 30) 2017 2016 |
+--------------------------------------------------------------------+
| |
+--------------------------------------------------------------------+
| Income 2,746 3,980 |
+--------------------------------------------------------------------+
| Operating result -15,012 -14,988 |
+--------------------------------------------------------------------+
| Finance income 67 141 |
+--------------------------------------------------------------------+
| Finance expense -273 -155 |
+--------------------------------------------------------------------+
| Result before income tax -15,218 -15,002 |
+--------------------------------------------------------------------+
| Income tax expense -3 -10 |
+--------------------------------------------------------------------+
| Loss of the period -15,221 -15,012 |
+--------------------------------------------------------------------+
| Result per share |
+--------------------------------------------------------------------+
| Basic earnings per share (euro) -0.42 -0.42 |
+--------------------------------------------------------------------+
| Diluted earnings per share (euro) -0.42 -0.42 |
+--------------------------------------------------------------------+
Condensed consolidated interim financial statements
Unaudited consolidated statement of profit and loss
+--------------------------------------------------------------------+
| In '000 euro (for the period ended on June 30) 2017 2016 |
+--------------------------------------------------------------------+
| |
+--------------------------------------------------------------------+
| Income 2,746 3,980 |
+--------------------------------------------------------------------+
| Sales 1,886 2,570 |
+--------------------------------------------------------------------+
| License income 0 0 |
+--------------------------------------------------------------------+
| Income from royalties 860 1,410 |
+--------------------------------------------------------------------+
| Cost of sales -1,996 -1,429 |
+--------------------------------------------------------------------+
| Gross profit 750 2,551 |
+--------------------------------------------------------------------+
| Research and development expenses -10,544 -12,012 |
+--------------------------------------------------------------------+
| General and administrative expenses -3,176 -3,381 |
+--------------------------------------------------------------------+
| Selling expenses -2,062 -2,201 |
+--------------------------------------------------------------------+
| Other operating income 20 55 |
+--------------------------------------------------------------------+
| Impairment losses 0 0 |
+--------------------------------------------------------------------+
| Operating result -15,012 -14,988
+--------------------------------------------------------------------+
| Finance income 67 141 |
+--------------------------------------------------------------------+
| Finance expense -273 -155 |
+--------------------------------------------------------------------+
| Result before income tax -15,218 -15,002 |
+--------------------------------------------------------------------+
| Taxes -3 -10 |
+--------------------------------------------------------------------+
| Loss of the period -15,221 -15,012 |
+--------------------------------------------------------------------+
| |
+--------------------------------------------------------------------+
| Attributable to: |
+--------------------------------------------------------------------+
| Equity holders of the company -15,214 -15,016 |
+--------------------------------------------------------------------+
| Non-controlling interest -7 4 |
+--------------------------------------------------------------------+
| |
+--------------------------------------------------------------------+
| Result per share |
+--------------------------------------------------------------------+
| Basic earnings per share (euro) -0.42 -0.42 |
+--------------------------------------------------------------------+
| Diluted earnings per share (euro) -0.42 -0.42 |
+--------------------------------------------------------------------+
Unaudited consolidated statements of other comprehensive income
+------------------------------------------------------------------------------+
|In '000 euro (for the period ended on June 30) 2017 2016|
+------------------------------------------------------------------------------+
|Loss of the period -15,221 -15,012|
+------------------------------------------------------------------------------+
|Exchange differences on translation of foreign operations 7 -30|
+------------------------------------------------------------------------------+
|Other comprehensive income, net of income tax 7 -30|
+------------------------------------------------------------------------------+
|Other comprehensive income that may be reclassified to profit 0 0|
|or loss |
+------------------------------------------------------------------------------+
|Other comprehensive income that will not be reclassified to 7 -30|
|profit or loss |
+------------------------------------------------------------------------------+
|Total comprehensive income for the period -15,214 -15,042|
+------------------------------------------------------------------------------+
|Attributable to: |
+------------------------------------------------------------------------------+
|Equity holders of the company -15,207 -15,046|
+------------------------------------------------------------------------------+
|Non-controlling interest -7 4|
+------------------------------------------------------------------------------+
Unaudited consolidated statement of financial position
+------------------------------------------------------------------------------+
|In '000 euro (for the period ended on) June 30, 2017 December 31, 2016|
+------------------------------------------------------------------------------+
| |
+------------------------------------------------------------------------------+
|ASSETS |
+------------------------------------------------------------------------------+
|Property, plant and equipment 1,455 1,743|
+------------------------------------------------------------------------------+
|Intangible assets 24,323 25,902|
+------------------------------------------------------------------------------+
|Goodwill 0 0|
+------------------------------------------------------------------------------+
|Other non-current assets 161 202|
+------------------------------------------------------------------------------+
|Non-current tax receivable 996 2,350|
+------------------------------------------------------------------------------+
|Non-current assets 26,935 30,197|
+------------------------------------------------------------------------------+
|Inventories 2,296 2,614|
+------------------------------------------------------------------------------+
|Trade and other receivables 6,600 7,672|
+------------------------------------------------------------------------------+
|Current tax receivable 2,073 1,085|
+------------------------------------------------------------------------------+
|Investments 21,720 21,817|
+------------------------------------------------------------------------------+
|Cash and cash equivalents 43,417 58,251|
+------------------------------------------------------------------------------+
|Current assets 76,106 91,439|
+------------------------------------------------------------------------------+
|Total assets 103,041 121,636|
+------------------------------------------------------------------------------+
| |
+------------------------------------------------------------------------------+
|EQUITY AND LIABILITIES |
+------------------------------------------------------------------------------+
|Share capital 151,991 151,991|
+------------------------------------------------------------------------------+
|Share premium 157,661 157,661|
+------------------------------------------------------------------------------+
|Accumulated translation differences -178 -185|
+------------------------------------------------------------------------------+
|Other reserves -13,229 -13,317|
+------------------------------------------------------------------------------+
|Retained earnings -201,548 -186,334|
+------------------------------------------------------------------------------+
|Equity attributable to equity holders of the 94,697 109,816|
|company |
+------------------------------------------------------------------------------+
|Non-controlling interest 36 43|
+------------------------------------------------------------------------------+
|Total equity 94,733 109,859|
+------------------------------------------------------------------------------+
|Trade payables 3,082 5,941|
+------------------------------------------------------------------------------+
|Other short-term liabilities 5,226 5,836|
+------------------------------------------------------------------------------+
|Current liabilities 8,308 11,777|
+------------------------------------------------------------------------------+
|Total equity and liabilities 103,041 121,636|
+------------------------------------------------------------------------------+
Unaudited consolidated statement of cash flows
+------------------------------------------------------------------------------+
|In '000 euro (for the period ended on June 30) 2017 2016|
+------------------------------------------------------------------------------+
| |
+------------------------------------------------------------------------------+
|Cash flows from operating activities |
+------------------------------------------------------------------------------+
|(Loss) profit for the period -15,221 -15,012|
+------------------------------------------------------------------------------+
|Finance expense 273 155|
+------------------------------------------------------------------------------+
|Finance income -67 -141|
+------------------------------------------------------------------------------+
|Depreciation on property, plant and equipment 379 453|
+------------------------------------------------------------------------------+
|Amortization of intangible assets 1,579 3,401|
+------------------------------------------------------------------------------+
|Increase in accruals and employee benefits 0 0|
+------------------------------------------------------------------------------+
|Equity settled share-based payment transactions 88 78|
+------------------------------------------------------------------------------+
|Change in trade and other receivables including tax 1,756 170|
|receivables and stock |
+------------------------------------------------------------------------------+
|Change in short-term liabilities -3,469 2,433|
+------------------------------------------------------------------------------+
|Net cash (used) from operating activities -14,682 -8,463|
+------------------------------------------------------------------------------+
| |
+------------------------------------------------------------------------------+
|Cash flows from investing activities |
+------------------------------------------------------------------------------+
|Disposal of property, plant and equipment (following a sale) 48 45|
+------------------------------------------------------------------------------+
|Change in investments 97 -16,463|
+------------------------------------------------------------------------------+
|Interest received and similar income 10 45|
+------------------------------------------------------------------------------+
|Acquisition of intangible assets 0 -1,000|
+------------------------------------------------------------------------------+
|Acquisition of property, plant and equipment -139 -473|
+------------------------------------------------------------------------------+
|Acquisition (divestments) of other non-current assets 41 38|
+------------------------------------------------------------------------------+
|Net cash (used in) generated by investing activities 57 -17,808|
+------------------------------------------------------------------------------+
| |
+------------------------------------------------------------------------------+
|Cash flows from financing activities |
+------------------------------------------------------------------------------+
|Proceeds from issue of share capital 0 0|
+------------------------------------------------------------------------------+
|Paid interests -5 -2|
+------------------------------------------------------------------------------+
|Net cash (used in) generated by financing activities -5 -2|
+------------------------------------------------------------------------------+
| |
+------------------------------------------------------------------------------+
|Net change in cash and cash equivalents -14,630 -26,273|
+------------------------------------------------------------------------------+
|Cash and cash equivalents at the start of the period 58,251 93,341|
+------------------------------------------------------------------------------+
|Effect of exchange rate fluctuations -204 -86|
+------------------------------------------------------------------------------+
|Cash and cash equivalents at the end of the period 43,417 66,982|
+------------------------------------------------------------------------------+
Unaudited consolidated statement of changes in equity
+-------------------------------------------------------------------------------------------+
| Cumulative Attributable Non- |
| Share Share translation Other Retained to equity controlling Total|
| capital premium differences reserves earnings holders of interest |
| the company |
+-------------------------------------------------------------------------------------------+
|Balance as |
|at January 151,991 157,661 -221 -13,473 -126,020 169,938 77 170,015|
|1, 2016 |
+-------------------------------------------------------------------------------------------+
|Loss of the 0 0 0 0 -15,016 -15,016 4 -15,012|
|period 2016 |
+-------------------------------------------------------------------------------------------+
|Change to |
|foreign |
|currency |
|translation 0 0 -30 0 0 -30 0 -30|
|difference |
|and |
|revaluation |
|reserve |
+-------------------------------------------------------------------------------------------+
|Share-based |
|payment 0 0 0 78 0 78 0 78|
|transactions |
+-------------------------------------------------------------------------------------------+
|Balance as |
|at June 151,991 157,661 -251 -13,395 -141,036 154,970 81 155,051|
|30, 2016 |
+-------------------------------------------------------------------------------------------+
+-------------------------------------------------------------------------------------------+
|Balance as |
|at January 151,991 157,661 -185 -13,317 -186,334 109,816 43 109,859|
|1, 2017 |
+-------------------------------------------------------------------------------------------+
|Loss of the 0 0 0 0 -15,214 -15,214 -7 -15,221|
|period 2017 |
+-------------------------------------------------------------------------------------------+
|Change to |
|foreign |
|currency |
|translation 0 0 7 0 0 7 0 7|
|difference |
|and |
|revaluation |
|reserve |
+-------------------------------------------------------------------------------------------+
|Net change |
|in fair 0 0 0 0 0 0 0 0|
|value of |
|investments |
+-------------------------------------------------------------------------------------------+
|Issue of |
|ordinary 0 0 0 0 0 0|
|shares 0 0 |
+-------------------------------------------------------------------------------------------+
|Share-based |
|payment 0 0 0 88 0 88 0 88|
|transactions |
+-------------------------------------------------------------------------------------------+
|Balance as |
|at June 151,991 157,661 -178 -13,229 -201,548 94,697 36 94,733|
|30, 2017 |
+-------------------------------------------------------------------------------------------+
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: ThromboGenics NV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 07.09.2017 - 17:40 Uhr
Sprache: Deutsch
News-ID 559200
Anzahl Zeichen: 54245
contact information:
Town:
Leuven
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 328 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ThromboGenics Business Update - H1 2017"
steht unter der journalistisch-redaktionellen Verantwortung von
ThromboGenics NV (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
