EQS-Adhoc

Cytos Biotechnology Ltd Reports the Financial Results of 2014 - Seite 2

Full year consolidated financial figures 2014:

Balance sheet
Funds available for financing the Company's operations amounted to CHF
17.06 million as per December 31, 2014, and include cash and cash
equivalents, financial assets and trade and other receivables. This is CHF
22.95 million lower than on December 31, 2013 (CHF 40.00 million). This net
change is composed of a cash increase of payment of CHF 1.00 million from a
collaboration partner and other payments (mainly payments from sub-tenants)
of CHF 3.01 million. Cash decreased primarily due to expenses incurred from
ongoing activities (CHF 15.35 million) as well as costs associated with
winding down supplier agreements (CHF 5.60 million). In addition, a payment
of CHF 2.00 million was made in connection with a final settlement related
to liabilities of Asklia Holding AG which were assumed in the 2002 merger.

As per December 31, 2014 the total amount of debt amounted to around CHF 46
million. Half of the debt was comprised of the convertible bonds issued in
2007 and restructured in 2012. , As outlined above, the Company expects
that the bonds can be exchanged into shares in the first half of May 2015.
The other half of the debt is comprised of the convertible loan notes
issued in 2012 of which a major part has been repaid at maturity and
negotiations on the settlement of the remaining part are ongoing with the
loan note holders.

Revenues
Revenues comprising income from license fees paid by Novartis of CHF 1.00
million has been recognized in the year 2014, unchanged from the same
period in 2013.

Cash burn
The gross cash burn for operating activities, as calculated on the cash
flow statement, was CHF 2.06 million on average per month during the year
2014, compared to CHF 1.68 million on average per month in the year of
2013.

(in CHF million)                                          FY 2014   FY 2013

Revenue                                                       1.0       1.0

Net operating costs                                        (19.9)    (24.3)

Operating loss                                             (18.9)    (23.3)

Net loss                                                   (34.0)    (30.8)

Net loss per share (in CHF)                                (1.11)    (1.32)


(in CHF million)                                     31.12.2014  31.12.2013
                                                               

Cash, cash equivalents & trade and other                     17.1      40.0