Oslo, 9 November 2012 - Bionor Pharma ASA today announced financial results for third quarter 2012 and provided highlights of key developments during third quarter 2012 and current status and outlook.
Oslo, 9 November 2012 - Bionor Pharma ASA today announced financial results for third quarter 2012 and provided highlights of key developments during third quarter 2012 and current status and outlook.
Highlights third quarter 2012
- Grants of NOK 10.48 million awarded from Research Council of Norway's GLOBVAC program to support Vacc-4x reboost study.
- Prof Angus "Gus" Dalgleish at St. George's University of London, joined the Clinical Advisory Board (CAB).
- Further immunological findings from the phase II study, presented at the symposium "Towards an HIV Cure" linked to the conference AIDS 2012 in Washington, show that Vacc-4x improves the quality of immune responses in HIV patients.
- The clinical study combining Vacc-4x with the immune modulator Revlimid® (lenalidomide) was approved by German health authorities.
- Immunological data presented at AIDS vaccine 2012 conference in Boston.
- EBITDA in Q3 2012 was MNOK -12.5 compared to MNOK -13.4 in Q2.
- Cash holdings of MNOK 126.7.
Highlights after third quarter 2012
- The first German patient started treatment in the clinical study combining Vacc-4x with the immune modulator Revlimid® (lenalidomide).
- In October, the first Norwegian patients started treatment in the phase I/II clinical study with Vacc-C5 at Oslo University Hospital.
- Research on Vacc-4x and Vacc-C5 presented at the Annual Meeting of Institute of Human Virology in Baltimore.
(In NOK 1000) | Q3 2012 | Q3 2011 | 9M 2012 | 9M 2011 | FY 2011 |
Revenue | 878 | 1 236 | 2 550 | 109 330 | (*) 109 499 |
Other operating expenses (net) | -13 364 | -15 458 | -40 936 | -37 282 | -52 142 |
EBITDA | -12 486 | -14 222 | -38 386 | 72 048 | 57 357 |
Depreciation | -2 890 | -2 834 | -8 564 | -8 466 | -11 300 |
EBIT | -15 376 | -17 056 | -46 950 | 63 582 | 46 057 |
(*) Includes the sale of the Nutrilett ® trademark in Q1 2011.
OUTLOOK
The clinical program is on track. All three clinical studies will be enrolling by end of Q4 2012.
- Enrolling of patients has commenced in an open dosing phase of the study where the patients receive Vacc-4x together with three different doses of Revlimid® (lenalidomide).
- Enrolling of patient expects to start in Q4 2012 in the multicenter study to reboost patients from the multinational phase II study with Vacc-4x.
- Enrolling of patients at Oslo University Hospital has started for Bionor's second HIV vaccine, Vacc-C5.
- Subsequently Bionor intends to create Vacc-HIV, a combination of Vacc-4x and Vacc-C5, that has the potential to be a preventative vaccine.
- A partnering process is initiated aimed at entering into a commercial agreement with an international pharma-/biotech partner. A team of experienced Business Development Executives from the US is engaged to assist the company in this process during 2013.
- The company will attend several international meetings during the next 6 months to present the company's research portfolio to potential partners.
For more information, see www.bionorpharma.com
Steen Krøyer, CEO, +47 23 01 09 60
Gunnar Flåten, SVP Finance & Administration, +47 35 90 85 03 / +47 91 31 64 79
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