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Press Release: 4SC Announces Financial Results for the First Half of 2014
DGAP-News: 4SC AG / Key word(s): Half Year Results/Miscellaneous
Press Release: 4SC Announces Financial Results for the First Half of
2014
07.08.2014 / 07:30
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Press Release
4SC Announces Financial Results for the First Half of 2014
Planegg-Martinsried, Germany, 7 August 2014 - 4SC AG (Frankfurt, Prime
Standard: VSC), a discovery and development company of targeted small
molecule drugs for cancer and autoimmune diseases, today published its
consolidated financial results for the first six months of 2014 (1 January
- 30 June 2014). A public telephone conference in English will be held
today at 4:00 pm CEDT (10:00 am EDT).
Key operating events in Q2 2014 and beyond:
- 4SC Discovery GmbH expands research activities in epigenetics: EU grant
of EUR 0.45 million received in the field of cardiovascular diseases
(April 2014); collaboration with CRELUX in the field of cancer drugs
launched (July 2014)
- Resminostat: Good safety profile in cancer patients demonstrated in
Phase I trial by 4SC's Japanese partner Yakult Honsha; milestone
payment received (May 2014)
- 4SC-202: Positive top-line data from Phase I trial in patients with
haematological tumours presented at ASCO (June 2014).
- 4SC AG: Experienced oncology expert Dr Erich Enghofer joins 4SC as its
new Executive Vice President Oncology and Haematology (June 2014).
Key financial figures for the first half of 2014:
- Consolidated revenue up 103% to EUR 3.98 million (H1 2013: EUR 1.96
million)
- Operating loss (EBIT) reduced by 37% to EUR -3.87 million (H1 2013: EUR
-6.17 million); earnings per share improved by 33% to EUR -0.08 (H1
2013: EUR -0.12).
- Very strong second-quarter performance: revenue up 117%, EBIT improves
by 49%
- Shareholder loan of up to EUR 10 million from 4SC's principal
shareholder Santo Holding expected to secure the Company's funding
until the end of 2015 (June 2014)
- Reallocation of the entire package of shares held by former shareholder
VCG Fonds III i.L. to institutional investors completed, free float
increased (June 2014)
- Convertible note agreement with Yorkville for up to EUR 15 million
until the end of 2016 creates further flexible funding options
(February 2014)
Enno Spillner, CEO of 4SC AG, commented:
"We are satisfied with our business performance in the first half of the
year - and even more so in the second quarter. The shareholder loan from
Press Release
4SC Announces Financial Results for the First Half of 2014
Planegg-Martinsried, Germany, 7 August 2014 - 4SC AG (Frankfurt, Prime
Standard: VSC), a discovery and development company of targeted small
molecule drugs for cancer and autoimmune diseases, today published its
consolidated financial results for the first six months of 2014 (1 January
- 30 June 2014). A public telephone conference in English will be held
today at 4:00 pm CEDT (10:00 am EDT).
Key operating events in Q2 2014 and beyond:
- 4SC Discovery GmbH expands research activities in epigenetics: EU grant
of EUR 0.45 million received in the field of cardiovascular diseases
(April 2014); collaboration with CRELUX in the field of cancer drugs
launched (July 2014)
- Resminostat: Good safety profile in cancer patients demonstrated in
Phase I trial by 4SC's Japanese partner Yakult Honsha; milestone
payment received (May 2014)
- 4SC-202: Positive top-line data from Phase I trial in patients with
haematological tumours presented at ASCO (June 2014).
- 4SC AG: Experienced oncology expert Dr Erich Enghofer joins 4SC as its
new Executive Vice President Oncology and Haematology (June 2014).
Key financial figures for the first half of 2014:
- Consolidated revenue up 103% to EUR 3.98 million (H1 2013: EUR 1.96
million)
- Operating loss (EBIT) reduced by 37% to EUR -3.87 million (H1 2013: EUR
-6.17 million); earnings per share improved by 33% to EUR -0.08 (H1
2013: EUR -0.12).
- Very strong second-quarter performance: revenue up 117%, EBIT improves
by 49%
- Shareholder loan of up to EUR 10 million from 4SC's principal
shareholder Santo Holding expected to secure the Company's funding
until the end of 2015 (June 2014)
- Reallocation of the entire package of shares held by former shareholder
VCG Fonds III i.L. to institutional investors completed, free float
increased (June 2014)
- Convertible note agreement with Yorkville for up to EUR 15 million
until the end of 2016 creates further flexible funding options
(February 2014)
Enno Spillner, CEO of 4SC AG, commented:
"We are satisfied with our business performance in the first half of the
year - and even more so in the second quarter. The shareholder loan from
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