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Epigenomics AG announces 2017 First Quarter Financial Results

DGAP-News: Epigenomics AG / Key word(s): Quarterly / Interim Statement Epigenomics AG announces 2017 First Quarter Financial Results 10.05.2017 / 08:00 The issuer is solely responsible for the content of this announcement. Press release

Epigenomics AG announces 2017 First Quarter Financial Results

Berlin (Germany) and Germantown, MD (U.S.A.), May 10, 2017- Epigenomics AG (FSE: ECX, OTCQX: EPGNY), or the "Company", today announced its financial results for the first quarter 2017 ended March 31.

Q1/2017 Financial results

- Total revenue slightly decreased to EUR 281 thousand (Q1 2016: EUR 295 thousand) mainly due to the termination of a licensing agreement for the sale of sample preparation kits.

- Operating costs in Q1 2017 decreased significantly to EUR 3.1 million (Q1 2016: EUR 5.3 million). In the comparison period, operating costs were impacted by non-cash expenses for share-based compensation.

- Operating loss (EBIT) for Q1 2017 decreased to EUR -2.7 million (Q1 2016: EUR -4.6 million). EBITDA before expenses for share-based compensation decreased to EUR -2.4 million (Q1 2016: EUR -2.2 million).

- Net loss for Q1 2017 decreased to EUR -2.4 million (Q1 2016: EUR -4.3 million). Loss per share for Q1 2017 decreased to EUR -0.10 (Q1 2016: EUR -0.23).

- Cash consumption in Q1 2017 decreased to EUR 1.6 million (Q1 2016: EUR 2.4 million).

- The Company's liquidity (cash, cash equivalents and marketable securities) at the reporting date was EUR 10.7 million (Dec 31, 2016: EUR 12.3 million).

Operational highlights

- Contract with U.S. Department of Veterans Affairs: As announced on March 3, 2017, the U.S. Department of Veterans Affairs has awarded Epigenomics' distribution partner Polymedco, Inc. with a five-year supply contract for Epi proColon(R), commencing March 1, 2017. The Veterans Administration operates the nation's largest integrated healthcare system, with more than 1,700 hospitals, clinics, community living centers, domiciliaries, readjustment counseling centers, and other facilities.