Net interest income/(cost) decreased to EUR (0.0) million for the period ended June 30, 2010 from EUR 0.5 million in the same period in 2009 as a result of the Company's decreasing cash balance combined with continuing low market interest rates for deposits.
Cash and cash equivalents amounted to EUR 13.5 million at June 30, 2010, a decrease of EUR 9.1 million compared to EUR 22.6 million at December 31, 2009. The decrease in cash and cash equivalents mainly stems from the operational cash outflow which amounted to EUR 8.9 million for the period ended June 30, 2010 (compared to an operating cash outflow of EUR 9.5 million for the period ended June 30, 2009).
The Company's expenditure continues in line with budget. However, as AMT
has not yet reached the point of generating significant revenues that could
fund operations we continue to explore additional opportunities for funding,
including non-dilutive sources such as grants and/or collaborations with
partners. In addition, AMT is also tracking opportunities for raising
additional capital in conjunction with its bankers. The outlook for the year
|SOURCE Amsterdam Molecular Therapeutics B.V|
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