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Amsterdam Molecular Therapeutics Reports Half Year Results 2008

Date:8/13/2008

Conference Call & Webcast Today at 2:00 p.m. CET

AMSTERDAM, August 13 /PRNewswire-FirstCall/ -- Amsterdam Molecular Therapeutics (Euronext: AMT), a leader in the field of human gene therapy, today reported its results for the first half year of 2008.

Highlights

- Positive results of pivotal trial for Glybera(R) (AMT-011)

for Hyperlipoproteinemia type I

- European patent for treatment of Non-Alcoholic Steatotic

Hepatitis

- License for treatment of Duchenne Muscular Dystrophy from La

Sapienza University, Rome, Italy

- License for prevention of immune response against treatment of

Hemophilia B from 'TIGET", San Raffaele Telethon Gene Therapy Institute,

Milan, Italy

- Collaboration with St. Jude Children's Research Hospital,

Memphis, Tennessee, USA, including license for treatment of Hemophilia B

- GMP manufacturing development: License for raising yields of

production platform from NIH, Bethesda, USA

- Key financial figures in line with guidance

- Cash & cash equivalents of EUR 43.1 million at June 30, 2008

- Independent supervisory board with three new members bringing

extensive knowledge and experience.

Results comparison

AMT's key financial figures are in line with the guidance that the company has given for 2008. The operating loss increased to EUR 9.1 million for the six months ended June 30, 2008, from EUR 7.2 million for the same period in 2007. This difference is primarily due to the increase of research & development costs to EUR 5.8 million from EUR 3.8 million in the same period of 2007. This increase is particularly related to the development work on the company's lead product Glybera(R) (AMT-011) and increased staffing for this and other programs. General and administrative costs decreased slightly to EUR 3.3 million from EUR 3.5 million for the same period in 2007 due to lower share-based payments.

SOURCE Amsterdam Molecular Therapeutics B.V
Copyright©2008 PR Newswire.
All rights reserved

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Amsterdam Molecular Therapeutics Reports Half Year Re...( Conference Call & Webca...)