GHENT, BELGIUM--(Marketwired - Aug 21, 2013) - Ablynx (EURONEXT BRUSSELS: ABLX) today announced its results for the six-month period ending 30 June 2013, which have been prepared in accordance with the IAS 34 "Interim Financial Reporting" as adopted by the European Union. Operational highlights are also reported.
Results will be discussed during a webcast presentation today at 11h CET, 5am EST
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Operational highlights - year-to-date 2013
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Reported excellent Phase IIa results with the anti-IL-6R Nanobody, ALX-0061, in RA patients. Licensing discussions for this asset are progressing with a number of pharmaceutical companies
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Entry criteria adapted for Phase II TITAN trial in TTP with caplacizumab (anti-vWF Nanobody) to better facilitate recruitment
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Phase I study initiated by Merck Serono with the Nanobody, ALX-0761, for use in inflammation
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Initiated additional Phase I studies with the anti-RSV Nanobody, ALX-0171
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Enhanced the internal pipeline with the start of pre-clinical development of a potentially differentiated anti-IgE Nanobody, ALX-0962, to treat severe allergic asthma
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Signed a research collaboration with Spirogen to evaluate the potential of novel Nanobody-toxin drug conjugates in cancer
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Strengthened management team with appointment of a Chief Operating Officer, a newly created role
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Appointment of Catherine Moukheibir as a new Independent Director of the Company
Financial highlights - first six months ending June 30th 2013
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Raised EUR 31.5 million in a private placement of new shares
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Revenues of EUR 12.9 million (2012:EUR 16.6 million)
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Net loss for the period of EUR 10.5 million (2012: EUR 13.6 million)
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Positive net cash inflow of EUR 9.2 million, resulting in a strong financial position of EUR 72.0 million in cash, cash equivalents, restricted cash and short-term investments
Commenting on the half-year 2013 results, Dr Edwin Moses, Chairman and CEO of Ablynx, said:
"We are pleased with the progress we have made during the first six months of the year, both operationally and financially. The most significant news was the announcement of excellent Phase IIa efficacy and safety data for our anti-IL-6R Nanobody in rheumatoid arthritis patients. Discussions with a number of interested pharmaceutical companies with the aim to license this Nanobody are making good progress. We further enhanced our internal pipeline with earlier stage assets, including the anti-IgE Nanobody, ALX-0962, to treat severe allergic asthma. Our partner Merck Serono has also dosed the first healthy volunteer in a Phase I study with the Nanobody, ALX-0761, for use in inflammation."