ABLYNX ANNOUNCES RESULTS FOR THE FIRST NINE MONTHS OF 2017 AND A YEAR-TO-DATE BUSINESS UPDATE - Seite 2

• Revenues of €44.7 million (2016: €68.9 million)
• R&D expenditure of €73.1 million (2016: €72.8 million)

Operating loss of €42.1 million (2016: €13.6 million)

Net cash burn^[1] of €26.9 million (2016: €44.1 million)

Cash position of €208.6 million (2016: €263.6 million)

Commenting on today's update, Dr Edwin Moses, CEO of Ablynx, said:
"We are very excited about the progress we have made over the period. We successfully completed the Phase III HERCULES study of our lead, wholly-owned product candidate, showing the great potential that caplacizumab has to change the lives of patients with aTTP, for which there is currently no approved therapeutic drug available. We are now finalising the remaining analyses and are working to complete the regulatory filings. Meanwhile, we have strengthened our medical and commercial teams and have established a U.S. subsidiary, underlining our commitment to rapidly bring this treatment to patients."

"Beyond caplacizumab, we have progressed vobarilizumab in SLE according to plan, and are moving forward with ALX-0171 in RSV-infected hospitalised infants and in RSV-infected stem cell transplant patients. Like caplacizumab in aTTP, these three programmes are focussed on patients with a high unmet medical need and with no or limited treatment options."

"Our recent, very successful listing on Nasdaq was the biggest biotech IPO of the year in the U.S.A. and has resulted in a significant increase in the quality and breadth of our investor base. At the end of September, including the net IPO proceeds, we have approximately €390 million to drive our proprietary programmes forward while continuing to expand and develop our pipeline."

Financial review - 1 January 2017 to 30 September 2017

(€ millions)	First nine months 2017	First nine months 2016
Revenue	44.7	68.5
Grant income		0.4
Total revenue and grant income	44.7	68.9
Research and development expenses	(73.1)	(72.8)
General and administrative expenses	(13.7)	(9.8)
Operating result	(42.1)	(13.6)
Financial income	2.0	29.8
Financial expenses	(5.6)	(5.3)
Profit/(loss) for the period	(45.8)	10.9
Net cash flow	(26.9)	(44.1)(1)
Cash at 30 September	208.6(2)	263.6(3)