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Epigenomics AG: Epigenomics AG Reports Results for the Financial Year Ended December 31, 2014 and Provides Outlook for 2015 - Seite 2

million). This increase was in line with the 2014 guidance and partly
driven by non-cash expenses for the Company's phantom stock programs.
Driven both by the efforts towards the FDA approval and the set-up of
the ADMIT trial, research and development ("R&D") costs increased by
EUR 0.3 million to EUR 4.7 million (2013: EUR 4.4 million). Selling,
general and administrative ("SG&A") costs were up EUR 0.4 million to
EUR 4.9 million (2013: EUR 4.5 million).

- On this basis operating loss (EBIT) in 2014 widened to EUR 8.4 million
(2013: EUR 7.3 million). Due to non-cash interest expenses in the
amount of EUR 0.5 million for the convertible bond program, net loss
increased to EUR 8.9 million (2013: EUR 7.4 million). This equals a
loss per share of EUR 0.65 (2013: EUR 0.62).

- Cash consumption in 2014 amounted to EUR 8.1 million (2013: EUR 6.5
million), including capital expenditures of EUR 0.8 million relating to
the establishment of new facilities in Berlin. Due to net cash inflows
from financing activities of EUR 7.6 million in 2014 (2013: EUR 11.5
million), net cash flow amounted to EUR -0.5 million (2013: EUR 5.0
million).

- The Company's liquidity at year-end 2014 was EUR 7.5 million (Dec 31,
2013: EUR 8.0 million). The outstanding convertible notes have the
potential to increase the liquidity by an additional amount of EUR 9.4
million on their conversion in 2015. However, in a repayment scenario,
the Company would have to repay an amount of EUR 1.9 million to the
bondholders before maturity of the notes at the end of 2015.

Outlook for 2015

- The FDA's approval decision for Epi proColon(R) in the U.S.A. remains a
key target for the Company in 2015. Throughout this year and beyond,
Epigenomics will actively support its partners BioChain and Polymedco
in rolling out the test and making it an integral part of standardized
CRC screening procedures in countries where it is approved. To this
effect, securing reimbursement and heightening healthcare providers'
awareness of the product will be a key activity for the Company in
2015, which will determine the commercial success.

- Epigenomics expects revenue in 2015 to be in the range of EUR 3.0 to
4.0 million with the bulk of this in the second half of the year. This
assumes the approval of Epi proColon(R) in the U.S.A. around the middle
of 2015. This growth in revenue is almost exclusively driven by the
expected initial product sales in the U.S.A. and in China. EBIT for