400 0 Kommentare Biotie Financial Statement Release 2014

BIOTIE THERAPIES CORP. Financial Statement Release 27 February, 2015 at 8.45 a.m.

Biotie Financial Statement Release 2014

This is a summary of the financial statement report 2014 published today. The complete report is attached to this release.

Company Highlights
October - December 2014

Preparations to advance tozadenant into Phase 3 development in Parkinson's disease as part of Biotie's proprietary portfolio continued during the quarter. The Phase 3 program is expected to start recruiting patients in the middle of 2015.
Biotie advanced SYN120, a 5-HT6 / 5-HT2a antagonist, into Phase 2 development. The SYNAPSE study, a Phase 2a clinical study in patients with Parkinson's disease dementia, started in December 2014. The study is largely funded by The Michael J. Fox Foundation (MJFF).
Biotie's partner H. Lundbeck A/S (Lundbeck) continued the rollout of Selincro in Europe and it has now been introduced in 26 European markets. Favorable reimbursement decisions have been issued in a number of European markets, including France, Spain and the United Kingdom, where NICE issued its final positive guidance in November 2014.
Annual impairment review of intangible assets and goodwill resulted in a non-cash impairment charge of EUR 27.6 million in respect of nepicastat and SYN120.

Biotie's revenue in Q4 2014 was EUR 1.9 million (EUR 5.8 million) and the financial result was a net loss of EUR 32.4 million (net profit of EUR 1.7 million).
Biotie ended 2014 with liquid assets of EUR 32.4 million (EUR 35.9 million, 30 September 2014). Operating cash flow for the full year was a net outflow of EUR 14.1 million (net inflow of EUR 10.6 million).

Key Financials
Figures in brackets, unless otherwise stated, refer to the same period in the previous year (EUR million)

for the period October - December 2014