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OctoPlus N.V.
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Publicatie datum
19 feb 2009 - 07:22
Statutaire naam
OctoPlus N.V.
Titel
OctoPlus announces 2008 annual results
Bericht
OctoPlus N.V. (“OctoPlus” or “the Company”) (Euronext: OCTO), announces today its unaudited annual results for the year ended 31 December 2008 and in a separate press release its decision to launch a private offering of ordinary shares in order to strengthen its balance sheet.
Highlights 2008
Financial
• Revenues increased by 226% from € 5.2 million in 2007 to € 16.9 million in 2008
• Net loss reduced by 59% from € 15.2 million in 2007 to € 6.2 million in 2008
• The second half of 2008 showed a positive net profit of € 0.2 million
• 2008 closing net cash position € (0.9) million, a € 3.4 million reduction from the opening cash balance of € 2.5 million (OctoPlus has a current account lending facility available of € 2 million)
Operational
• Exclusive license and manufacturing agreement for Locteron signed with Biolex, allowing for milestone payments to generate potential revenues in excess of € 100 million
• Five evaluation contracts won in which the Company’s partner is evaluating OctoPlus’ proprietary technology in a controlled release formulation of their products
• PLUS study with Locteron® in the United States started and successfully progressed: positive results from previous studies have confirmed strong antiviral response and an improved side effects profile compared to other interferon products
• Safety and efficacy of OP-145 in chronic otitis media demonstrated in Phase II study
Strategy
• Strategy adapted to utilise drug delivery technology for the controlled release of injectable products (in particular proteins/biosimilars) for a growing client base
• Simon Sturge appointed as Chief Executive Officer
Outlook
• OctoPlus expects 2009 revenues to increase to approximately € 19 million
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Datum laatste update: 06 oktober 2024