ABLYNX ANNOUNCES HALF YEAR 2011 RESULTS
(Thomson Reuters ONE) -
REGULATED INFORMATION
* Seven Nanobody-based products in clinical trials; three in Phase II and four
in Phase I
* First clinical proof-of-concept achieved with a Nanobody
* Strong financial position with ?92.6 million in cash, cash equivalents,
restricted cash and short-term investments
* ?12.8 million in revenues
* Net cash burn of ?23.3 million
GHENT, Belgium, 25 August 2011 - Ablynx [Euronext Brussels: ABLX] today
announced its results for the six-month period ending 30 June 2011, which have
been prepared in accordance with the IAS 34 Interim Financial Reporting as
adopted by the European Union, and highlighted the developments in its product
pipeline and partnerships.
In the six-month period ending 30 June 2011, revenues increased by 27% to ?12.8
million (2010: ?10.1 million), primarily driven by milestones from existing
collaborations and recognised income from new collaborations. Total research and
development costs increased to ?28.9 million (2010: ?21.4 million), in line with
the increasing number of pre-clinical and clinical development candidates.
General and administrative expenses amounted to ?4.9 million (2010: ?4.6
million). The loss from continuing operations before tax and net finance income,
increased to ?21.0 million (2010: ?15.8 million). The net loss for the period
was ?20.2 million (2010: ?15.3 million). The Company ended the six-month period
with ?92.6 million in cash, cash equivalents, restricted cash and short-term
investments.
During the past six months, Ablynx continued to make progress in developing its
product pipeline with both its proprietary and collaborative programmes. The
first clinical-proof-of concept with a Nanobody in a patient population was
achieved by Pfizer in May with the lead anti-TNF-alpha Nanobody, ATN-103. Two
new Nanobody programmes entered the clinic, and the Phase II study recruitment
for the anti-vWF Nanobody, ALX-0081, in ACS was successfully completed. At 30
June 2011, Ablynx had over 25 programmes in its R&D pipeline, including
partnered programmes, and there were seven Nanobodies in clinical development.
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/1541309/471534.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#1541309]
Unternehmensinformation / Kurzprofil:
Datum: 25.08.2011 - 18:01 Uhr
Sprache: Deutsch
News-ID 59438
Anzahl Zeichen: 3475
contact information:
Town:
Ghent
Kategorie:
Business News
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