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Amsterdam Molecular Therapeutics Reports Full Year Results 2009
Date:2/24/2010

y">EUR 5.9 million in 2008. This decrease reflected the higher than normal cost of advisory fees in 2008 which did not recur to the same level in 2009. Interest receivable fell to EUR 0.6 million compared to EUR 1.9 million in 2009, reflecting the lower average cash balances of the Group during 2009. Consequently the net loss for 2009 was EUR 17.2 million, broadly in line with the net loss of EUR 16.9 million for 2008.

In December 2009 AMT successfully raised EUR 5 million of new funds via a private placement of convertible bonds. The five-year unsecured and unsubordinated bonds, which have a minimum denomination of EUR 100,000, had an issue price of 100% and pay an annual coupon of 5%. During the conversion period the bonds are convertible into ordinary shares of AMT at an initial conversion price of EUR 3.91 or a 30% premium over the then prevailing share price.

As of December 31, 2009, AMT had cash and cash equivalents of EUR 22.6 million, compared to EUR 34.2 million at December 31, 2008. The net cash burn for the year amounted to EUR 11.5 million.


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