DGAP-News
Press Release: 4SC announces financial results for the first nine months and the third quarter of 2014 - Seite 3
EUR -0.16).
This results in an average monthly outflow of cash from operations
amounting to EUR 0.72 million in the first nine months of 2014 (9M 2013:
EUR 0.59 million). As at 30 September 2014, the Company had cash totalling
EUR 3.37 million, compared with EUR 3.90 million as at the close of 2013.
Q3 2014:
Compared with the third quarter of the previous year, consolidated revenue
increased by 25% in the reporting quarter to EUR 2.20 million (Q3 2013: EUR
1.77 million). Despite an increase in revenue, the Company's loss from
operating activities increased by 12% in the third quarter to EUR 2.34
million (Q3 2013: EUR 2.08 million). This was due mainly to higher cost of
sales in connection with the production of the resminostat compound for
Yakult and higher development expenses in the context of optimising the
resminostat manufacturing process. The loss for the period increased by 11%
to EUR 2.33 million in the third quarter (Q3 2013: EUR 2.11 million),
resulting in earnings per share of EUR -0.05 (Q3 2013: EUR -0.04).
In the reporting quarter, the Company drew down a second tranche totalling
EUR 2.0 million from the loan agreement signed in June 2014 with 4SC
principal shareholder Santo Holding (Deutschland) GmbH to finance 4SC AG in
the short and medium term and to carry out the operational preparations for
the further clinical development of resminostat. In addition, a second
tranche of the agreement signed with US investor Yorkville in the first
quarter of 2014 was issued as a convertible bond in the nominal amount of
EUR 0.5 million.
Review of research and development operations in Q3 2014 as well as key
developments at Group level and outlook:
Development segment (clinical development activities of 4SC AG)
Resminostat:
Progress was made again in the reporting period in the operational
preparations for the planned double-blind randomised controlled Phase II
trial in advanced liver cancer (hepatocellular carcinoma, HCC). In this
trial, resminostat in combination with sorafenib is to be examined as
first-line therapy of patients with advanced HCC compared with the current
standard treatment (monotherapy with sorafenib). The above study also aims
to further qualify the potential predictive biomarker ZFP64 for possible
investigation in a Phase III registration trial. The existing study
protocol was optimised and advanced in collaboration with clinical liver
cancer experts. 4SC also improved the production process for the
resminostat compound during the reporting period. 4SC is in talks with
potential partners and investors in order to secure funding for the planned
increased by 25% in the reporting quarter to EUR 2.20 million (Q3 2013: EUR
1.77 million). Despite an increase in revenue, the Company's loss from
operating activities increased by 12% in the third quarter to EUR 2.34
million (Q3 2013: EUR 2.08 million). This was due mainly to higher cost of
sales in connection with the production of the resminostat compound for
Yakult and higher development expenses in the context of optimising the
resminostat manufacturing process. The loss for the period increased by 11%
to EUR 2.33 million in the third quarter (Q3 2013: EUR 2.11 million),
resulting in earnings per share of EUR -0.05 (Q3 2013: EUR -0.04).
In the reporting quarter, the Company drew down a second tranche totalling
EUR 2.0 million from the loan agreement signed in June 2014 with 4SC
principal shareholder Santo Holding (Deutschland) GmbH to finance 4SC AG in
the short and medium term and to carry out the operational preparations for
the further clinical development of resminostat. In addition, a second
tranche of the agreement signed with US investor Yorkville in the first
quarter of 2014 was issued as a convertible bond in the nominal amount of
EUR 0.5 million.
Review of research and development operations in Q3 2014 as well as key
developments at Group level and outlook:
Development segment (clinical development activities of 4SC AG)
Resminostat:
Progress was made again in the reporting period in the operational
preparations for the planned double-blind randomised controlled Phase II
trial in advanced liver cancer (hepatocellular carcinoma, HCC). In this
trial, resminostat in combination with sorafenib is to be examined as
first-line therapy of patients with advanced HCC compared with the current
standard treatment (monotherapy with sorafenib). The above study also aims
to further qualify the potential predictive biomarker ZFP64 for possible
investigation in a Phase III registration trial. The existing study
protocol was optimised and advanced in collaboration with clinical liver
cancer experts. 4SC also improved the production process for the
resminostat compound during the reporting period. 4SC is in talks with
potential partners and investors in order to secure funding for the planned
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte