DGAP-News

Epigenomics AG Announces 2017 Second Quarter and Six Months Financial Results

DGAP-News: Epigenomics AG / Key word(s): Half Year Results Epigenomics AG Announces 2017 Second Quarter and Six Months Financial Results 09.08.2017 / 08:45 The issuer is solely responsible for the content of this announcement. Press release

Epigenomics AG Announces 2017 Second Quarter and Six Months Financial Results

- Reimbursement in the United States is a focus of the company as it will have the greatest impact upon commercial adoption of Epi proColon

- The expected issuance of the convertible bond as agreed in the voluntary takeover offer will improve the financial position of the company with the addition of approximately EUR 6.5 million

Berlin (Germany) and Germantown, MD (U.S.A.), August 9, 2017 - Epigenomics AG (Frankfurt Prime Standard: ECX, OTCQX: EPGNY) today announced its financial results for the second quarter and the six months 2017 ending June 30.

"In the second quarter, the voluntary takeover offer for Epigenomics was in the focal point of our activities", said Greg Hamilton, CEO of Epigenomics AG. "After the minimum acceptance threshold of the offer was missed, securing robust financing for Epigenomics remains our key priority in order to successfully commercialize our products and develop innovative cancer tests in the future."

Q2/6M 2017 Financial Results

- Total Q2 2017 revenue decreased to EUR 0.2 million (Q2 2016: EUR 1.3 million) and 6M 2017 revenue was at EUR 0.5 million (6M 2016: EUR 1.6 million). In the second quarter of the previous year, our joint U.S. commercialization partner Polymedco had initially stocked up on large inventories of Epi proColon following the product's FDA approval. This resulted in a relatively high revenue figure for the quarter. Order volume for 6M 2017 is lower due to the lack of Medicare reimbursement in the United States.