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Adocia Presents First Half 2019 Financial Results

Nachrichtenquelle: Business Wire (engl.)
17.07.2019, 18:00  |  207   |   |   

Regulatory News:

Adocia (Paris:ADOC) (Euronext Paris: FR0011184241 – ADOC), the clinical-stage biopharmaceutical company focused on the treatment of diabetes and other metabolic diseases with innovative formulations of proteins and peptides, announces today its financial results for the first six months ended June 30, 2019.

Half-year consolidated financial statements, expressed according to IFRS, underwent limited review by the statutory auditors and subsequently approved at the Board of Director’s meeting held today.

We continue to actively develop our product portfolio while maintaining prudent cash management.” said Gérard Soula, Adocia's Chairman and Chief Executive Officer. “This half year was particularly active, with a very satisfactory progression of our collaboration with Tonghua Dongbao on BioChaperone Lispro and BioChaperone Combo, as well as the release of excellent first clinical results of ADO09, our combination of prandial insulin and pramlintide. This in turn led to the rapid launch of a 3-week study on ADO09. Of note, we expect to receive during this quarter the decision on the second phase of the ongoing arbitration with Eli Lilly.

Key financial results

The table below summarizes the condensed consolidated interim financial statements prepared for the six-month periods ended June 30, 2019 and June 30, 2018, respectively:

In (€) thousands, Consolidated financial statements, IAS/IFRS

 

06/30/2019
(6 months)

 

06/30/2018
(6 months)

Revenue

 

1 710

 

32 801

Grants, research tax credits and others

 

3 044

 

3 303

Operating revenue

 

4 754

 

36 105

Operating expenses

 

(18 142)

 

(21 784)

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