Vivoryon Therapeutics N.V. Reports Q1 2023 Financial Results and Highlights Operational Progress - Seite 2

Corporate Development Highlights:

• In May 2023, Vivoryon announced it will hold its 2023 Annual General Meeting on Wednesday, June 21, 2023, at 1:00 p.m. (CEST) in Amsterdam, the Netherlands. The full agenda and all relevant documents are available on the Company’s website (https://www.vivoryon.com/annual-general-meeting-2023/) .
• In May 2023, Vivoryon announced intended changes among the Non-Executive members of its Board of Directors at the 2023 Annual General Meeting. Reflecting Vivoryon’s continued progress towards becoming a late-stage clinical development company and in line with its commitment to meeting international best-practice standards for corporate governance and diversity, the Company proposes the appointment of Kugan Sathiyanandarajah and Professor Morten Asser Karsdal as new members to Vivoryon’s Non-Executive Board of Directors. The proposed appointments follow the decision of the two long-standing members Dinnies Johannes von der Osten, PhD, and Jörg Neermann, PhD, to step down at the upcoming Annual General Meeting.

Financial Results for Q1 of 2023

No revenues were generated in the first quarter of 2023.

Research and development expenses decreased by EUR 2.7 million to EUR 3.1 million in the three months ended March 31, 2023, compared to EUR 5.8 million in the three months ended March 31, 2022. This decrease was largely attributable to a reduction of EUR 1.6 million from lower manufacturing cost due to the completion of study drug supply projects with the remaining reduction due to lower clinical costs from the further progress of the Phase 2b clinical trial VIVIAD.

General and administrative expenses were EUR 1.9 million in the three months ended March 31, 2023, compared to EUR 0.8 million in the three months ended March 31, 2022. The increase of EUR 1.1 million was largely attributable to EUR 0.8 million higher expenses for share-based payments.

Net loss for the three months ended March 31, 2023, was EUR 5.1 million, compared to EUR 6.4 million for the three months ended March 31, 2022.

The Company held EUR 17.1 million in cash and cash equivalents as of March 31, 2023, compared to EUR 26.6 million as of December 31, 2022. In the three months ended March 31, 2023, the Company entered into a Euro term deposit of EUR 3.0 million resulting in the reallocation of the funds to financial assets from cash and cash equivalents.