Transgene Reports 2014 Financial Results and Outlines Promising Clinical Pipeline

information fournie par Boursorama •24/03/2015 à 19:00

Transgene Reports 2014 Financial Results and Outlines Promising Clinical Pipeline

• Strong year ahead for clinical activity with Company’s immunotherapies, including in combination with immune checkpoint inhibitors
• Cash and cash equivalents at December 31, 2014 of ?65.9 million


Strasbourg, France, March 24, 2015 – Transgene SA (Euronext: TNG) today announced its financial results for the fiscal year ended December 31, 2014 and provided a business update.

Clinical highlights include:

• Two Phase 3 trials in preparation for TG4010 and Pexa-Vec
• Several Phase 2 trials planned in combination with immune checkpoint inhibitors (ICIs)
• TG1050 to enter Phase 1 trial in chronic hepatitis B

More details on these developments appear later in this release.

Financial highlights include:

• Cash, cash equivalents and other financial assets at year end 2014 totaling ?65.9 million compared to ?47.9 million at year end 2013
• Net cash burn for 2014 of ?44.9 million versus ?45.0 million in 2013
• Research and development (R&D) expenses of ?49.8 million for 2014 compared to ?50.1 million for 2013
• Results for 2014 were in line with expectations
• Cash burn guidance for 2015 expected to be around ?45 million