ABLYNX ANNOUNCES RESULTS FOR THE FIRST NINE MONTHS OF 2017 AND A YEAR-TO-DATE BUSINESS UPDATE - Seite 3

        ⁽¹⁾ excluding €71.4 million net proceeds from the private placement of new shares (1 June 2016)
        ⁽²⁾ including €1.6 million in restricted cash
        ⁽³⁾ including €1.3 million in restricted cash

Total revenue and grant income was €44.7 million (2016: €68.9 million) and the difference was driven by comparatively lower recognition of upfront payments from the ongoing collaboration with AbbVie and comparatively lower milestone payments received in 2017. Operating expenses increased to €86.8 million (2016: €82.6 million) primarily due to higher general and administrative expenses, including pre-commercialisation costs for caplacizumab, and expenses related to the preparations for a U.S. IPO. The net financial loss of €3.6 million and the variance versus 2016 primarily relate to the fair value impact and amortisation (mainly non-cash) of the convertible bond. As a result of the above, the Company ended the period with a net loss of €45.8 million (2016: net profit of €10.9 million).

The Company ended the period with a total liquidity position of €208.6 million (2016: €263.6 million) which consists of cash and cash equivalents of €20.4 million, other financial assets of €186.5 million and restricted cash of €1.6 million. This does not include proceeds from the $230 million U.S. public offering on Nasdaq which closed post period end.

Outlook for the remainder of 2017 - progressing according to plan

• Report on the results of the ongoing single and multiple dose ethno-bridging Phase I study of caplacizumab in healthy Japanese subjects
• Aim to present the HERCULES data at a key scientific conference and submit them to a peer-reviewed journal
• Continue the regulatory and commercial preparations for the potential approval and launch of caplacizumab in Europe in 2018 and the U.S.A. in 2019
• Seek regulatory approval to enable a Phase II study in Japan with ALX-0171 in infants hospitalised with a RSV infection
• Seek regulatory approval to enable a global Phase II study with ALX-0171 in adults who have undergone stem cell transplantation and have become infected with RSV

Next shareholders' club at Ablynx (Dutch language only): 6 December 2017 at 5.30pm