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DGAP-News Formycon Publishes Annual Financial Statements for the 2021 Financial Year

DGAP-News: Formycon AG / Key word(s): Annual Report/Annual Results
Formycon Publishes Annual Financial Statements for the 2021 Financial Year

18.05.2022 / 09:00
The issuer is solely responsible for the content of this announcement.


 



Press Release // May 18, 2022

Formycon Publishes Annual Financial Statements for the 2021 Financial Year

- Group turnover and other earnings total Euro 41.7 million

- Liquidity solid at a total of EUR 36.2 million

- Annual result shaped by scheduled investments in FYB202, FYB206 and FYB207

- Conversion of Group reporting to IFRS as of the 2022 half-year consolidated financial statements

Munich – Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) today released its financials for 2021.

The focus in 2021 was on the further development of the current biosimilar candidates as well as the COVID-19 drug (FYB207). The development activities of the late-stage biosimilar projects FYB201 (biosimilar candidate for Lucentis1), FYB202 (biosimilar candidate for Stelara2) and FYB203 (biosimilar candidate for Eylea3) result in the currently reported revenues, as Formycon continues to perform remunerated development activities for the aforementioned biosimilar candidates after partnering by the licensing or collaboration partners. In the event of subsequent marketing, Formycon will receive a corresponding share of the marketing proceeds generated. With the anticipated product launch of FYB201 in 2022, Formycon is moving closer to entering a new corporate phase, whereby the expected revenues from this should open up new growth opportunities for the company. In addition, Formycon is working on the continuous expansion of its pipeline. Due to the increasingly international nature of our business activities, the consolidated financial statements will be prepared in accordance with IFRS (International Financial Reporting Standards) for the first time as of the 2022 half-year financial statements. The separate financial statements of the parent company Formycon AG continue to be prepared and published in accordance with the rules of the German Commercial Code (HGB).

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DGAP-News Formycon Publishes Annual Financial Statements for the 2021 Financial Year DGAP-News: Formycon AG / Key word(s): Annual Report/Annual Results Formycon Publishes Annual Financial Statements for the 2021 Financial Year 18.05.2022 / 09:00 The issuer is solely responsible for the content of this announcement.   Press …

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