Sensorion Reports Pipeline Update and First-Half-Year 2018 Results - Seite 2

In May, the Company successfully completed a capital raise³ in a reflection of growing investor confidence in Sensorion’s expertise in inner ear diseases. As a result, the cash position at end June was €8.8 million, which allows Sensorion to conduct these Phase 2 trials and prepare for another Phase 2 study, for the prevention of ototoxicity induced by cisplatin in a pediatric population, to be potentially launched in 2019.

Financial results for the first half of 2018

The Company’s accounts for the first six months, until June 30, 2018, prepared under IFRS, have been the subject of a limited review by statutory auditors and were approved by the Board of Directors on October 17, 2018.

They are characterized by an increase in Research & Development expenses in line with the objective to initiate a phase 2 clinical trial with SENS-401 in the second half of 2018.

The simplified income statement at June 30, 2018 is as follows:

In Euros – IFRS		30.06.2018		30.06.2017
Operating income		1 299 199		1 092 946
Research & Development expenses		5 849 636		3 941 363
General and Administrative expenses		1 542 860		1 571 117
Total operating expenses		7 392 496		5 512 480
Operating profit / loss		-6 093 297		-4 419 534
Financial profit / loss		-45 186		-130 495
Net profit / loss		-6 138 483		-4 550 029

At June 30, 2018, Sensorion’s operating income, essentially comprising Research Tax Credit, totaled €1.3 million, (+18,9%) compared with June 30, 2017.

Operating expenses increased from €5.5 million at June 30, 2017 to approximately €7.4 million at June 30, 2018, principally as a result of preparing the initiation of a phase 2 clinical trial with SENS-401

General and Administrative expenses are stable, having reached approximately €1.5 million at June 30, 2018 compared to approximately €1.6 million at June 30, 2017.

The operating loss at June 30, 2018 was € -6.1 million, compared with € -4.4 million at June 30, 2017.