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Press Release: 4SC publishes results for financial year 2013 and announces changes to the Management Board

DGAP-News: 4SC AG / Key word(s): Final Results/Change of Personnel
Press Release: 4SC publishes results for financial year 2013 and
announces changes to the Management Board

26.03.2014 / 07:30

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Press Release

4SC publishes results for financial year 2013 and announces changes to the
Management Board

Planegg-Martinsried, Germany, 26 March 2014 - 4SC AG (Frankfurt, Prime
Standard: VSC), a discovery and development company of targeted small
molecule drugs for cancer and autoimmune diseases, today published the
financial results of the 4SC Group for the financial year ended 31 December
2013.

Revenue rose by 13% year on year to EUR 4.90 million, largely as a result
of the growing volume of business in marketing early-stage research handled
by Group subsidiary 4SC Discovery GmbH. Growing revenue and strict cost
reductions improved the consolidated operating loss (EBIT) by 21% to EUR
-10.59 million. Adjusted for one-off extraordinary factors in connection
with the adjustment of the development strategy, EBIT improved by as much
as 28%. Earnings per share improved by 28% to EUR -0.21. 4SC Discovery GmbH
generated a positive cash flow from operations in 2013 and thus was able to
finance itself from its own resources. The Group's cash and cash
equivalents of EUR 4.90 million as at the end of 2013 based on the current
cost and revenue planning and the financing agreement signed in February
2014 with YA Global Master SPV Ltd. (Yorkville), enable financing for 4SC
over at least the next twelve months (not including the cost of funding the
start of further clinical trials).

Key business events during the 2013 financial year:

- Strategic focus and restructuring: Management Board headed by CEO Enno
Spillner focuses strategy on compounds with the largest potential to
increase value and adjusts corporate and staffing structures (May/June
2013)

- Resminostat: Decision taken to focus on first-line therapy of liver
cancer (HCC), preparations begun for a Phase II/III study programme
(May 2013)

- Resminostat: In Japan, partner Yakult Honsha starts two Phase I/II
studies with resminostat in HCC and non-small-cell lung cancer
(May/July 2013)

- Resminostat: Elevated expression of the ZFP64 biomarker leads to
doubling of patient survival in Phase II trials in HCC and Hodgkin's
lymphoma (Sept 2013)

- 4SC Discovery: Growth trajectory maintained by partnering deals with