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Amsterdam Molecular Therapeutics Reports Half Year Results 2009
Date:8/12/2009

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 2009.

    Highlights

    - Start of the preregistration clinical trial with Glybera(R)
      in Canada following two previous clinical trials
    - Presentation of additional data indicating that Glybera(R) offers
      a clinically important health benefit, accomplished by a significant
      and clinically important reduction in the incidence of acute
      pancreatitis in patients
    - Significant progress in research and development for other
      pipeline projects including hemophilia B, Duchenne muscular dystrophy
      and Parkinson's disease
    - Key financial figures in line with guidance
    - Cash & cash equivalents of EUR 25 million at June 30, 2009

Results comparison

AMT's key financial figures are well within the budgets for the first semester and therefore remain in line with the guidance that the company has given for 2009. The operating loss increased to EUR 9.9 million for the six months ended June 30, 2009, from EUR 9.1 million for the same period in 2008. This difference is primarily due to the increase of research & development costs to EUR 7.1 million from EUR 5.8 million in the same period of 2008. This increase is particularly related to the clinical development and regulatory work on the company's lead product, Glybera(R), as well as increased staffing for this and other programs. General and administrative costs decreased to EUR 2.9 million, from EUR 3.3 million in the first half of 2008, primarily as a result of decreased advisor's fees.

The net loss for the half of 2009 was EUR 9.4 million, as compared to a net loss of EUR 8.1 million for the first half of 2008.

At June 30, 2009, AMT's cash and cash equivalents amounted to E
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SOURCE Amsterdam Molecular Therapeutics B.V
Copyright©2009 PR Newswire.
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