Biovitrum Interim Report January 1st - September 30th, 2009
(Thomson Reuters ONE) - Continued top line growth and positive R&D progress- rFIXFc advances into registrational trialJuly - September* Total revenues before licensing revenues for the period increased by 10 percent to SEK 274.2 M (250.0). Q3 sales of Kineret® and Kepivance® in local currency were the highest since Biovitrum acquired the products* Operating result was SEK -34.1 M (10.4). Profit for the period amounted to SEK 7.9 M (9.8), which is equivalent to earnings per share of SEK 0.16 (0.21).* Cash flow from operations was SEK -7.4 (-25.5). Cash and cash equivalents and short-term investments as of September 30 amounted to SEK 309.4 M (534.1).* The last patient in the rFIXFc hemophilia B clinical phase I/II study was recruited.* Aloxi® was recommended by the Multinational Association for Supportive Care in Cancer and the European Society of Medical Oncology as the preferred 5-HT3 antagonist for emesis prevention in patients undergoing highly emetogenic chemotherapy.January - September* Total revenues before licensing revenues increased by 37 percent to SEK 949.3 M (693.8) driven mainly by Kineret® and Kepivance®. Profit for the period amounted to SEK 1.0 M (-88.8), which is equivalent to earnings per share of SEK 0.02 (-1.94).* Cash flow from operations was SEK -90.5 M (-124.0).Events after the period* Biovitrum and Biogen Idec announced decision to advance long-acting hemophilia B therapy (rFIXFc) into a registrational trial based upon the successful outcome of a phase I/II clinical trial.* An open label exploratory phase II study on ExinaldaTM (rhBSSL) in patients with cystic fibrosis and pancreatic insufficiency was completed. The primary end point was not met (CFA). Biovitrum is currently evaluating next steps.* A Letter of Intent was signed with Proximagen Neuroscience plc ("Proximagen"), according to which Proximagen will acquire Biovitrum's UK based research unit Cambridge Biotechology Ltd (CBT).CEO comments:"The third quarter showed both a gratifying sales development for ourmarketed products and a continued good progress of our prioritizedR&D projects. In particular, the sales of Kineret and Kepivance inlocal currency were the highest since Biovitrum acquired theproducts. The financial performance for the quarter as well as forthe nine month period is yet another step forward becoming aprofitable company. I am particularly pleased that we after theperiod have decided to move the hemophilia B project (rFIXFc) intothe final registrational development phase, based on successfuloutcome of a phase I/II clinical trial. Furthermore the sale of ourUK research company is also highly satisfying and in line with thetransformation of our business. In order to drive future growth, wecontinue to strengthen our commercial infrastructure needed for ourkey products", says CEO Martin Nicklasson.For further information, please contactMartin Nicklasson, CEOPhone: +46 8 697 25 45Göran Arvidson, CFOCell phone: +46 8 697 23 27Erik Kinnman, EVP Investor RelationsCell phone: +46 73 422 15 40erik.kinnman(at)biovitrum.comAbout BiovitrumBiovitrum is an international pharmaceutical company that marketsspecialist pharmaceuticals in several regions. Using its expertiseand experience Biovitrum takes scientific innovation to patients withsignificant unmet medical need. Research expertise and capabilitiesare focused on development and production of biotechnologytherapeutics within our prioritized areas of hemophilia,inflammation/autoimmune diseases, cancer supportive care andmalabsorption. The company has revenues of approximately SEK 1.2billion and around 400 employees. The company head office is locatedin Sweden and it is listed on the Stockholm OMX Nordic Exchange. Formore information please visit www.biovitrum.comBiovitrum AB (publ) may be required to disclose the informationprovided herein pursuant to the Swedish Securities Markets Act. Theinformation was provided for public release on October 22, 2009 at08:01 a.m. CET.http://hugin.info/134557/R/1349313/325130.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 22.10.2009 - 08:10 Uhr
Sprache: Deutsch
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