DGAP-News
Press Release: 4SC publishes results for financial year 2014 - Seite 2
- To increase the flexibility of future funding options, the
Extraordinary General Meeting on 11 March 2015 adopted - with a
majority vote of over 99% - a motion for a 1-for-5 reverse stock split
and a corresponding decrease in share capital to EUR 10,169,841.00.
Completion of the transaction is expected for mid-May 2015.
Enno Spillner, CEO of 4SC AG, commented:
"In 2014, we experienced another eventful year at 4SC. We improved both
revenue and earnings considerably and strengthened our short- and mid-term
financing base. We have actively pursued our research and development
programmes while creating additional development options for the future.
Good progress with resminostat has been achieved above all in our work with
partner Yakult Honsha in Japan. We also made further preparations for a
planned Phase II trial in the indication of liver cancer and evaluated a
number of potential further developments in other indications. Our oncology
compounds 4SC-202 and 4SC-205 have also returned some highly promising
Phase I results and we are currently evaluating their further clinical
development."
"Our primary goal for 2015 is to safeguard the further clinical development
of our value drivers and the long-term financing of our Company, which
should also reinforce the prospects of our enterprise value on the capital
markets", Spillner continues. "To this end, we are negotiating with
investors and potential partners for resminostat, but we also believe
4SC-205 and our second epigenetic compound 4SC-202 in particular have
enormous future potential. In our work, we take comfort from the almost
unanimous backing of our shareholders for the capital reduction and reverse
stock split at our Extraordinary General Meeting held 11 March 2015, and
the associated improvements to our future financing options on the capital
market."
Telephone conference
Today, on 25 March 2015 at 4:00 pm CET (11:00 am EDT), 4SC will host a
telephone conference in English, in which the Management Board of 4SC AG
will report on the principal developments in the 2014 financial year and
beyond. To participate in the telephone conference, please use the
following data:
+49-89-2030-31218 (Germany)
+44-20-3427-1905 (UK)
+1646-254-3365 (USA)
+49-89-2030-31218 (other countries)
Conference ID: 1721570
After the conference call, an audio recording will be available at
revenue and earnings considerably and strengthened our short- and mid-term
financing base. We have actively pursued our research and development
programmes while creating additional development options for the future.
Good progress with resminostat has been achieved above all in our work with
partner Yakult Honsha in Japan. We also made further preparations for a
planned Phase II trial in the indication of liver cancer and evaluated a
number of potential further developments in other indications. Our oncology
compounds 4SC-202 and 4SC-205 have also returned some highly promising
Phase I results and we are currently evaluating their further clinical
development."
"Our primary goal for 2015 is to safeguard the further clinical development
of our value drivers and the long-term financing of our Company, which
should also reinforce the prospects of our enterprise value on the capital
markets", Spillner continues. "To this end, we are negotiating with
investors and potential partners for resminostat, but we also believe
4SC-205 and our second epigenetic compound 4SC-202 in particular have
enormous future potential. In our work, we take comfort from the almost
unanimous backing of our shareholders for the capital reduction and reverse
stock split at our Extraordinary General Meeting held 11 March 2015, and
the associated improvements to our future financing options on the capital
market."
Telephone conference
Today, on 25 March 2015 at 4:00 pm CET (11:00 am EDT), 4SC will host a
telephone conference in English, in which the Management Board of 4SC AG
will report on the principal developments in the 2014 financial year and
beyond. To participate in the telephone conference, please use the
following data:
+49-89-2030-31218 (Germany)
+44-20-3427-1905 (UK)
+1646-254-3365 (USA)
+49-89-2030-31218 (other countries)
Conference ID: 1721570
After the conference call, an audio recording will be available at
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