DGAP-News

Vivoryon Therapeutics N.V.: Vivoryon Therapeutics Announces Financial Results for the First Quarter of 2021 and Provides Corporate Update - Seite 2

 

KOL Event on Current Clinical Landscape in Alzheimer's Disease Treatment
On April 15, 2021, Vivoryon hosted a virtual event covering next steps in Alzheimer's disease treatment options with leaders and experts in the field. The interactive session covered discussions surrounding current hurdles and exciting, novel approaches to the challenging AD space, including varoglutamstat, the Company's small molecule inhibitor of glutaminyl cyclase (QPCT) designed to target all three hallmarks of AD: amyloid-beta, tau, and neuroinflammation. The panel of participating AD experts featured Professor Philip Scheltens, MD, PhD, Director at the Alzheimer Center Amsterdam and Managing Partner of the LSP Dementia Fund, Howard Feldman, MD, Professor, Department of Neurosciences and Director of the Alzheimer's Disease Cooperative Study at the University of California San Diego School of Medicine and Frank Weber, MD, Chief Medical Officer at Vivoryon.


Update for Annual General Meeting of Shareholders
In accordance with the decree of May 27, 2021 on amending expiry dates of legal provisions made in connection with the COVID-19 outbreak as published on May 31, 2021, the Temporary COVID-19 Justice and Safety Act has been extended. Therefore, Vivoryon's Annual General Meeting (AGM) will be held on Monday, June 28, 2021, at 10:30 a.m. (CEST) as a virtual meeting via an audio webcast which will be available, along with all relevant documents, on the Company's website at https://www.vivoryon.com/ordinary-general-meeting-of-shareholders-2021 ....

Financial Review
In the first quarter of 2021, research and development expenses amounted to EUR 4,414 k and increased compared to the first quarter of 2020 (EUR 2,783 k). This increase was mainly driven by costs associated with VIVIAD the clinical Phase 2b study in Alzheimer's disease in Europe and production cost for our compound varoglutamstat /PQ912 which is used in this trial as well as in the US trial VIVA-MIND which is planned to start later this year.
 

General and administrative expenses increased to EUR 1,114 k (Q1 2020: EUR 580 k). This increase is largely attributable to consulting (2021: EUR 507 k, 2020: EUR 277 k) and share based payment expense (2021: EUR 232 k, 2020: nil). The Company did not generate any licensing revenue in the reporting period.