OctoPlus publishes third quarter business update
(Thomson Reuters ONE) - OctoPlus N.V. ("OctoPlus" or the "Company") (Euronext: OCTO), todaypublishes a business update for the third quarter of 2009.HighlightsFinancial- Positive operating result (EBIT) achieved for the third quarter,driven by strong third quarter revenues and cost savings- Revenues for the first nine months of 2009 are well in line withguidance for the full year of ? 19 millionOperational- Two substantial contract development service contracts signed inAugust and September, including one with a European mid-sized pharmacompany- Expansion of drug delivery evaluation contract with an existingclient signed in September- Phase IIb clinical study with Locteron® ongoing: OctoPlus awaitstop-line results from licensee Biolex- Restructuring of the organisation is proceeding as plannedStrategy- International adoption of OctoPlus' controlled release technologywith growing number of evaluations by both small and large(bio)pharmaceutical companiesOutlook- OctoPlus reiterates the expected 2009 revenues of approximately ?19 millionSimon Sturge, CEO of OctoPlus comments: "I am delighted to be able toreport an operating profit for the third quarter of 2009, whereas wereiterate that we do not expect to achieve a positive cash flow inthe second half of the year. Revenues in the first nine months of2009 have been in line with expectations and we are very excitedabout the additional clients that have decided to work with us duringthe third quarter. Our restructured organisation has positioned theCompany for a promising future."For further information, please contact:Rianne Roukema, Corporate Communications: telephone number +31 (71)524 1071, or send an e-mail to Investor Relations at IR(at)octoplus.nl.About OctoPlusOctoPlus is a drug delivery service company committed to the creationof improved pharmaceutical products that are based on OctoPlus'proprietary drug delivery technologies and have fewer side effects,improved patient convenience and a better efficacy/safety balancethan existing therapies. OctoPlus focuses on the development oflong-acting, controlled release versions of known proteintherapeutics, other drugs, and vaccines on behalf of its clients.The clinically most advanced product incorporating our technology isBiolex Therapeutics' lead product Locteron®, a controlled releaseformulation of interferon alpha for the treatment of chronichepatitis C. OctoPlus licensed Locteron exclusively to Biolex inOctober 2008. Locteron is being manufactured for Biolex by OctoPlusand is currently in Phase IIb clinical studies.In addition, OctoPlus is a leading European provider of advanced drugformulation and clinical scale manufacturing services to thepharmaceutical and biotechnology industries, with a focus ondifficult-to-formulate active pharmaceutical ingredients.OctoPlus is listed on Euronext Amsterdam by NYSE Euronext under thesymbol OCTO. For more information about OctoPlus, please visit ourwebsite www.octoplus.nl.This document may contain certain forward-looking statements relatingto the business, financial performance and results of OctoPlus andthe industry in which it operates. These statements are based onOctoPlus' current plans, estimates and projections, as well as itsexpectations of external conditions and events. In particular thewords "expect", "anticipate", "predict", "estimate", "project","plan", "may", "should", "would", "will", "intend", "believe" andsimilar expressions are intended to identify forward-lookingstatements. We caution investors that a number of important factors,and the inherent risks and uncertainties that such statementsinvolve, could cause actual results or outcomes to differ materiallyfrom those expressed in any forward-looking statements. In the eventof any inconsistency between an English version and a Dutch versionof this document, the English version will prevail over the Dutchversion.http://hugin.info/137076/R/1353491/327843.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 09.11.2009 - 07:30 Uhr
Sprache: Deutsch
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