14.07.2016
WILEX AG DE000A11QVV0
DGAP-News: WILEX AG: WILEX publishes Half-yearly Financial Report
DGAP-News: WILEX AG / Key word(s): Half Year Results
WILEX AG: WILEX publishes Half-yearly Financial Report
14.07.2016 / 07:09
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
WILEX publishes Half-yearly Financial Report
- Financing strategy advanced with successful capital increases;
financial figures in line with expectations
- Annual General Meeting resolves new authorised capital and reduction in
the size of the Supervisory Board
- New Head of Research & Development appointed
- Two important patents granted
- Public conference call to be held on 14 July 2016 at 3:00 p.m. CEST
Munich, 14 July 2016. WILEX AG (ISIN DE000A11QVV0 / WL6 / FSE) today
published its financial report on the first six months of 2016 (1 December
2015 - 31 May 2016).
The focus in the first half-year was on the research activities of the
subsidiary Heidelberg Pharma GmbH and its funding.
- Corporate actions: Three capital increases were implemented during the
reporting period. The first two capital increases were completed in
December 2015 and entered in the Commercial Register. A total of
1,373,684 shares were issued by way of a private placement and a rights
issue. Another 2,248,272 shares were issued through a third capital
increase that was completed and entered in the Commercial Register in
April 2016. In total, 3,621,956 new no par value bearer shares were
issued at an issue price of EUR 1.84, generating issue proceeds of EUR
6.7 million. The new share capital of WILEX AG amounts to EUR
12,927,564.
- Annual General Meeting: On 13 May 2016, the Annual General Meeting of
WILEX AG adopted a resolution to create new Authorised Capital 2016/I
in the amount of EUR 6,463,781. The Annual General Meeting also
approved a proposal to reduce the number of Supervisory Board members
from six to five. This had been motivated by the change in the profile
of WILEX AG and also the desire of Supervisory Board member Andreas
Krebs to step down from the Supervisory Board following the Annual
General Meeting for professional reasons.
- New Head of Research and Development: Professor Andreas Pahl was
appointed to the Executive Management Board as Head of Research and
Development on 2 June 2016. Professor Pahl will remain Chief Scientific
Officer and a member of the executive management of Heidelberg Pharma
GmbH.
- Patent granted: In February and June, two patents were granted which
protect important building blocks of the ATAC technology. In February,
patent protection was granted in the USA for the chemical reaction to
crosslink certain carrier molecules. This will protect the use of
certain positions for crosslinking to the Amanitin toxin, which is used
for the ATAC technology. A second patent was granted by the European
Patent Office in June 2016 for the chemical synthesis of the amino acid
dihydroxyisoleucine, which is needed for chemical production of
Amanitin. This covers the Company's internal Amanitin production
process, since the production of the required quantities of Amanitin in
good manufacturing-compliant process (GMP) quality for clinical use can
best be ensured by a completely chemical production of Amanitin.
Dr Jan Schmidt-Brand, Spokesman of the Executive Management Board and CFO
of WILEX AG, commented: "We are pleased with the progress we were able to
make in the first half of 2016. We implemented further key steps in our
funding strategy and our financial figures are in line with our planning.
Furthermore, the development of our ATAC technology continues to make
steady progress. Recently, we have increasingly worked on a new promising
project - a therapeutic agent for multiple myeloma. Data from trials with
animal models was presented at the Annual Meeting of the American
Association for Cancer Research (AACR) in New Orleans in April, generating
considerable interest. Our ATAC collaborative business also is developing
positively."
Financial results for the first six months of financial year 2016
The WILEX Group (WILEX) comprising WILEX AG and the subsidiary Heidelberg
Pharma GmbH reports consolidated figures.
In the first six months of the 2016 financial year, WILEX generated sales
revenue and income totalling EUR 1.9 million, down 17% on the previous year
(EUR 2.3 million).
This figure includes sales revenue of EUR 0.9 million (previous year: EUR
1.3 million), for customer-specific research conducted by Heidelberg
Pharma. The prior-year figure included income from a licence agreement with
Roche for several ATAC candidates that ended in August 2015.
Other income of EUR 1.0 million was the same as the previous year and
included a grant from the Federal Ministry of Education and Research (BMBF)
for research projects (EUR 0.5 million) as well as the reversal of certain
accrued liabilities that were not needed in the projected amount (EUR 0.3
million). Income of EUR 0.2 million was recorded in the context of the 2013
sale of former subsidiary WILEX Inc. to Nuclea Biotechnologies Inc.
Operating expenses including depreciation, amortisation and impairment
losses amounted to EUR 4.3 million in the reporting period, slightly higher
than the previous year (EUR 4.2 million). Except for the budgeted increase
in research and development costs, all other operating expenses, such as
cost of sales, administrative costs and other expenses, decreased.
The net loss for the first half of the year rose by 26% to EUR 2.4 million
from EUR 1.9 million for the same period in 2015. Earnings per share
amounted to EUR -0.22, which is above the prior-year figure (EUR -0.23),
which is attributable to the higher number of shares as a result of the
capital increases during the first half of 2016.
Cash and cash equivalents as of 31 May 2016 amounted to EUR 5.1 million (30
November 2015: EUR 1.3 million). WILEX's average monthly funding
requirement in the first six months of the financial year - excluding the
capital increases - was EUR 0.46 million (previous year: EUR 0.28 million).
Due to the capital increases, total assets as of the end of the reporting
period amounted to EUR 15.9 million, up from the figure of EUR 12.1 million
shown as of the 30 November 2015 reporting date. Equity was EUR 13.7
million (30 November 2015: EUR 9.5 million), corresponding to an equity
ratio of 85.9% (30 November 2015: 78.3%).
There is no change to the guidance for the WILEX Group for the current
financial year issued at the end of March 2016.
Key figures for the WILEX Group
In EUR '000 H1 2016 1 H1 2015 1 EUR '000 EUR '000 Earnings Sales revenue 910 1,360 Other income 988 981 Operating expenses (4,273) (4,238) of which research and (2,797) (1,961) development costs Operating result (2,375) (1,898) Earnings before tax (2,376) (1,896) Net loss for the period (2,386) (1,896) Earnings per share in EUR (0.22) (0.23) Balance sheet as of the end of the period Total assets 15,948 17,139 Cash and cash equivalents 5,142 4,101 Equity 13,695 14,129 Equity ratio2 in % 85.9 82.4 Cash flow statement Cash flow from operating (2,435) (2,146) activities Cash flow from investing (284) (32) activities Cash flow from financing 6,587 4,109 activities Employees (number) Employees as of the end of 53 51 the period3 Full-time equivalents as 49 45 of the end of the period31 The reporting period begins on 1 December and ends on 31 May 2 Equity / total assets 3 Including members of the Executive Management Board Rounding of exact figures may result in differences. The full half-yearly financial report including the consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) was published at http://www.wilex.de/press-investors/ financial-reports/. Invitation to the conference call On 14 July 2016, WILEX will hold a public conference call for media, analysts and investors in English at 3:00 p.m. CEST. Please dial in ten minutes before the conference call using the following dial-in numbers: 1. Germany: +49 69 71044 5598 2. UK: +44 20 3003 2666 3. USA: +1 212 999 6659 4. USA Freephone: +1 866 966 5335 You will be welcomed by an operator who will ask for the password (WILEX) and take your name and company. The presentation for the conference (in English) will be available for download at www.wilex.com from 2:30 p.m. CEST. Contact IR/PRsupport MC Services AG WILEX AG Katja Arnold (CIRO) Corporate Communications Tel.: +49 (0)89-210 228-40 Sylvia Wimmer Mobile: +49 (0)160 9360 3022 Tel.: +49 (0)89-41 31 38-29 Email: katja.arnold[at]mc-services.eu Email: investors[at]wilex.com Grillparzerstr. 18, 81675 Munich, GermanyAbout WILEX and Heidelberg Pharma WILEX AG is a biopharmaceutical company based in Munich, Germany, that serves as a parent and holding company for the Group. Research and development focus on the operations of its subsidiary Heidelberg Pharma GmbH in Ladenburg, which primarily advances the development of the innovative ADC platform technology based on the compound Amanitin (ATAC technology) and provides preclinical drug research and development services. WILEX has diagnostic and therapeutic Phase-III drug candidates, which are available for out-licensing to external partners. WILEX AG is listed at the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol WL6. More information is available at http://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. --------------------------------------------------------------------------- 14.07.2016 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. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: WILEX AG Grillparzerstr. 18 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 --------------------------------------------------------------------------- 482179 14.07.2016
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