Transgene Reports First Quarter 2014 Financial Results

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Strasbourg, France, April 22, 2014 – Transgene (Euronext Paris: FR0005175080) today issued its quarterly financial report as of March 31, 2014 (first quarter of 2014).
Cash, cash equivalents, available-for-sale financial assets and other financial assets amounted to 98.9 million euros as of March 31, 2014, compared to 47.9 million euros as of December 31, 2013. Cash burn, excluding the recent capital increase, amounted to 12.5 million euros in the first quarter of 2014, compared to 12.8 million euros in the first quarter of 2013. Transgene raised 63.5million euros in net proceeds through capital increases in the first quarter of 2014. Not accounting for these capital increases as well as for any new partnering revenue, the Company expects to spend 50-55 million euros to fund its operations in 2014.

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