Transgene: First Quarter 2012 Financial Report

le
0

First Quarter 2012 Financial Report

Strasbourg, France, April 19, 2012 - Transgene (Euronext Paris: FR0005175080) today issues its quarterly financial report as of March 31, 2012 (first quarter of 2012).

Revenue:

The following table summarizes the first quarter operating revenue[1] for 2012 compared to the same period in 2011:

Q1

In thousands of euros

2012

2011

Revenue from collaborative and licensing agreements

801

1,210

Government financing for research expenditures

2,828

2,351

Operating revenue

3,629

3,561

During the first quarter of 2012, revenue from collaborative and licensing agreements were principally composed of: (i) manufacturing services for Jennerex, Inc., strategic partner of Transgene for the development of JX594/TG6006, (ii) revenue from the payment made in 2010 by Novartis for the exclusive option agreement on TG4010, and (iii) royalty from technologies or products licensed by Transgene.

As of March 31, 2012, government financing for research expenditures corresponds to: (i) an estimate of the income accrued during the period for subsidies received and/or to be received (328 thousands of euros), and (ii) a quarter of the research tax credit expected for 2012 (2,500 thousands of euros).

Cash, Cash Equivalents, Available-for-sale Financial Assets and other Financial Assets:

Cash, cash equivalents, available-for-sale financial assets and other financial assets amounted to 123.8 million euros as of March 31, 2012, compared to 139.5 million euros as of December 31, 2011. Consumption of cash[2] amounted to 15.7 million euros in the first quarter of 2012, to be compared with 10.6 million euros in the first quarter of 2011. Transgene expects a cash consumption of around 50 million euros in 2012.

About Transgene:

Transgene, a member of the Institut Mérieux Group, is a publicly traded French biopharmaceutical company dedicated to the development of therapeutic vaccines and immunotherapeutic products in oncology and infectious diseases and has four compounds in phase 2 clinical development: TG4010 and JX594/TG6006 having already completed initial phase 2 trials, TG4001 and TG4040. Transgene has concluded strategic agreements for the development of two of its immunotherapy products: an option agreement with Novartis for the development of TG4010 to treat various cancers and an in-licensing agreement with US-based Jennerex, Inc. to develop and market JX594/TG6006, an oncolytic virus. Transgene has bio-manufacturing capacities for viral-based products. Additional information about Transgene is available at www.transgene.fr.

Disclaimer:

This press release contains forward-looking statements notably referring to the anticipated cash consumption for 2012. The Company's anticipated cash consumption for 2012 is based on currently anticipated costs for on-going and planned product development and testing, but may increase in the event of unanticipated expenses. For further information on the risks and uncertainties involved in the testing and development of Transgene's product candidates, see Trangene's Document de Référence on file with the French Autorité des marchés financiers on its website at http://www.amf-france.org and on Transgene's website at www.transgene.fr .

Contacts:

Transgene

MC Services

Philippe Archinard, Chairman and CEO

Raimund Gabriel

Phone: +33 (0)3 88 27 91 22

Phone: +49 89 210 228 30

Stéphane Boissel, Executive Vice President & CFO

Shaun Brown

Phone: +33 (0)3 88 27 91 02

Phone: +44 207 148 5998

Elisabetta Castelli, Director IR

Phone: +33 (0)1 44 08 55 05


[1] Unaudited and not subject to approval by the Board of Directors.

[2] Cash, cash equivalents, available-for-sale financial assets and other financial assets.


Valeur associée
  Libellé Bourse Dernier Var. Vol.
Vous devez être membre pour ajouter des commentaires.
Devenez membre, ou connectez-vous.
Aucun commentaire n'est disponible pour l'instant