14.04.2015
WILEX AG DE000A11QVV0
DGAP-News: WILEX AG publishes 3-month Financial Report
DGAP-News: WILEX AG / Key word(s): Quarter Results
WILEX AG publishes 3-month Financial Report
14.04.2015 / 07:15
---------------------------------------------------------------------
PRESS RELEASE
WILEX publishes 3-month Financial Report
- Sales revenue and earnings up, costs reduced substantially
- Subsidiary Heidelberg Pharma awarded grants to support ADC technology
- Rights issue successfully completed
Munich, Germany, 14 April 2015. WILEX AG (ISIN DE000A11QVV0 / WL6 / FSE)
today published its financial report on the first three months of the 2015
financial year (1 December 2014 - 28 February 2015).
The focus in these first three months was on the Company's funding and on
the research activities of its subsidiary Heidelberg Pharma GmbH.
- Successful completion of the rights issue after the reporting period:
By the end of the subscription period on 7 April 2015, the shareholders
of WILEX AG exercised their subscription and additional subscription
rights for all 1,486,732 new no par value bearer shares in connection
with the rights issue announced on 18 March 2015 at a price of EUR 2.80
per share. The main shareholder dievini Hopp BioTech holding GmbH & Co.
KG, Walldorf, exercised all of its subscription rights and also
subscribed shares as part of the additional subscription. Around 36% of
the shares were taken up by other shareholders from the free float.
WILEX AG plans to use the expected gross proceeds from the rights issue
of EUR 4.16 million to finance the further development of the ADC
technology, in particular the GMP transfer of the drug production, as
well as to enhance its equity. Following the entry of the capital
measure in the Commercial Register on 10 April 2015, the total number
of WILEX shares issued increased to 9,305,608.
- PSMA-ADC grant: In early January 2015, the first ADC project received a
research grant to continue the development of PSMA antibody drug
conjugates for the treatment of prostate cancer. The new research
project estimated at EUR 1.8 million runs for 30 months and receives
grants from the Federal Ministry of Education and Research (BMBF)
totalling EUR 0.9 million. The funds will be used to further develop
PSMA antibody targeted Amanitin conjugates (ATACs).
- European MAGICBULLET training network: As part of its Horizon 2020
Framework Programme for Research and Innovation, the European Union in
February 2015 granted ETN MAGICBULLET a total of EUR 3.75 million for
the period from 2015 to 2018 for the development of new
chemistry-driven concepts for anti-tumour therapies. Heidelberg Pharma
is a member of the ETN MAGICBULLET consortium which consists of seven
academic research groups from Germany, Italy, Hungary and Finland, and
two pharmaceutical companies (Heidelberg Pharma and Exiris in Italy).
The company will receive part of this grant. The aim of the consortium
is to develop and validate an array of new peptide-drug conjugates
combining tumour-specific peptides with potent cytotoxic drugs.
"We are pleased with our performance in the first quarter of the 2015
financial year," commented Dr Jan Schmidt-Brand, Spokesman of the Executive
Management Board and CFO of WILEX AG. "The restructuring measures are
bearing fruit and we managed to increase our sales revenue year-on-year.
The rights issue, which was prepared in the first quarter and completed
after the reporting period, enables us to continue our activities in
accordance with our business planning. Our subsidiary Heidelberg Pharma
received important funding commitments earlier this year and will present
preclinical data at a number of scientific conferences. We also expect
insightful data from our own ADC trials in addition to those conducted by
alliance partners."
Financial results for the first three months of financial year 2015
The WILEX Group comprising WILEX AG and the subsidiary Heidelberg Pharma
GmbH reports consolidated figures. As a consequence of last year's
restructuring measures, which led to the discontinuation of research and
development activities at the Munich site, no further business activities
are conducted that differ materially in their risk/reward profiles. R&D
activities have since focused on the operations of WILEX's subsidiary
Heidelberg Pharma in Ladenburg. As a result, WILEX will no longer report on
segments from the current financial year onwards.
In the first three months of the 2015 financial year, the WILEX Group
generated total income of EUR 0.9 million, which is an increase of 29%
compared with the previous year (EUR 0.7 million). This figure includes
sales revenue of EUR 0.4 million (previous year: EUR 0.4 million), which
comprises components from the licence agreement with Roche and from the
services business in roughly equal proportions. At EUR 0.5 million, other
income was up on the previous year (EUR 0.3 million) due among other things
to income from exchange rate differences (EUR 0.3 million), which is mainly
attributable to a US dollar loan receivable.
Operating expenses including depreciation and amortisation amounted to EUR
2.0 million in the reporting period, down 44% compared with the previous
year (EUR 3.6 million). Cost of sales fell to EUR 0.4 million (previous
year: EUR 0.5 million) in the reporting period. Research and development
costs, which were EUR 2.0 million in the previous year, decreased by EUR
1.2 million to EUR 0.8 million due to the discontinuation of R&D activities
at the Munich site. However, at 41% of operating expenses, these were still
the largest cost item. Administrative costs fell to EUR 0.7 million
(previous year: EUR 0.9 million) in the first three months of 2015 as a
result of the cost-cutting measures. Other expenses comprise the costs for
activities in the areas of business development, marketing and commercial
market supply. These amounted to EUR 0.1 million in the reporting period
(previous year: EUR 0.2 million).
At EUR -0.2 k, the WILEX Group was only marginally in the red in terms of
its financial result in the first three months of the financial year
(previous year: EUR -16 k). The loss for the period was EUR 1.1 million
mainly due to lower costs (previous year: EUR 2.9 million). Reflecting the
net loss for the period, earnings per share rose by 62% to EUR -0.14
(previous year: EUR -0.37). In order to facilitate comparison, the earnings
per share in the previous period (EUR -0.09) were adjusted to the current
number of shares in a ratio of 4:1 in accordance with IAS 33.64.
Cash and cash equivalents as of 28 February 2015 amounted to EUR 1.4
million (30 November 2014: EUR 2.2 million). WILEX's average monthly
funding requirement in the first three months of the financial year was EUR
0.3 million (previous year: EUR 1.1 million), thus reaching the lower level
planned after restructuring. Total assets as of 28 February 2015 amounted
to EUR 14.0 million, down from the figure of EUR 15.0 million shown as of
the 30 November 2014 reporting date. Equity at the end of the reporting
period was EUR 10.8 million (30 November 2014: EUR 11.9 million). The
equity ratio was 77.3% (30 November 2014: 79.0%).
There is no change to the guidance for the WILEX Group for the current
financial year issued at the end of March 2015.
Since WILEX published its financial figures for the first quarter of 2015
only shortly after publishing the figures for the 2014 financial year and
holding an analyst and investor conference, the Company will not hold a
conference call today.
Key figures for the WILEX Group
Q1 2015 1 Q1 2014 1 In EUR '000 EUR '000 EUR '000 Earnings Sales revenue 427 404 Other income 471 345 Operating expenses (1,972) (3,616) of which research and development costs (813) (1,999) Operating result (1,074) (2,868) Earnings before tax (1,074) (2,884) Net loss for the period (1,074) (2,884) Earnings per share in EUR (0.14) (0.37)4 Balance sheet as of end of period Total assets 13,994 18,969 Cash and cash equivalents 1,369 5,546 Equity 10,813 12,085 Equity ratio2 in % 77.3 63.7 Cash flow statement Cash flow from operating activities (823) (3,380) Cash flow from investing activities (6) (45) Cash flow from financing activities (11) (42) Employees (number) Employees as of the end of the period3 51 88 Full-time equivalents as of the end of the period3 45 811) The reporting period begins on 1 December and ends on 28 February 2 Equity / total assets 3 Including members of the Executive Management Board 4 In order to facilitate comparison, the earnings per share in the previous period (3M 2014: EUR -0.09) were adjusted to the current number of shares in a ratio of 4:1 in accordance with IAS 33.64. Rounding of exact figures may result in differences. The full 3-month financial report including the consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) was published at http://www.wilex.de/presse-investoren/finanzberichte/. Contact IR/PR support WILEX AG MC Services AG Sylvia Wimmer Katja Arnold (CIRO) Corporate Communications Executive Director Tel.: +49 (0)89-41 31 38-29 Tel.: +49-89-210 228-40 Email: investors[at]wilex.com Mobile: +49 (0)160 9360 3022 Grillparzerstr. 10, 81675 Munich, Email: katja.arnold[at]mc- Germany services.euAbout WILEX and Heidelberg Pharma WILEX AG is a biopharmaceutical company which has a ready for partnering portfolio of antibody-based diagnostic and therapeutic Phase III product candidates for the detection and targeted treatment of clear cell renal cell carcinoma. Research and development focus on the operations of its subsidiary Heidelberg Pharma GmbH in Ladenburg, which primarily advances the development of the innovative platform technology for antibody drug conjugates (ADC technology) and provides pre-clinical drug discovery and development services. WILEX is listed at the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / Symbol WL6. More information is available at www.wilex.com. This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "will", "should", "future", "potential" or similar expressions or by a general discussion of the Company's strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial position, earnings, achievements, or industry results, to be materially different from any future results, earnings or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward- looking statements to reflect future events or developments. --------------------------------------------------------------------- 14.04.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: WILEX AG Grillparzerstr. 10 81675 München Germany Phone: +49 (0)89 41 31 38 - 0 Fax: +49 (0)89 41 31 38 - 99 E-mail: [email protected] Internet: www.wilex.com ISIN: DE000A11QVV0 WKN: A11QVV Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 343717 14.04.2015
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
WILEX AG ISIN: DE000A11QVV0 können Sie bei EQS abrufen
Biotechnologie , A11QVV , HPHA , XETR:WL6