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Amsterdam Molecular Therapeutics Reports Half-Year Results 2011
Date:8/24/2011

vantage of its AAV vector delivery technology for the efficient delivery of short and micro RNA to inhibit disease by RNA interference in two further pre-clinical disease models, for hypercholesterolemia and Huntington's disease. RNAi-based therapeutic strategies are considered highly promising in the industry, but so far, effective delivery has been elusive. In Huntington's disease, progress is being made quickly through in vivo studies and we anticipate proof of concept data in animal models by the end of 2011 for this indication. Two other important research projects are intended to greatly enhance the value of AMT's platform: gene expression control and re-administration.

Other Business Activities

The Supervisory Board, Management Board and other members of the management team have demonstrated their confidence in the prospects for AMT's success by taking a significant, fixed proportion of their remuneration in new AMT shares for the period from 1 July - 31 December 2011, and by making direct investments in AMT shares.

Financials

Results comparison

Total net loss for the period ended June 30, 2011 amounted to € 8.7 million, a reduction of 7% compared to the net loss for the period ended June 30, 2010 which amounted to € 9.4 million.

Other income, mainly representing grants, increased to € 1.3 million, compared to € 0.6 million in the corresponding period to 30 June 2010. This increase reflects the Company's success in securing additional non-dilutive funding towards the costs of its programs.

The main item within operating costs reflects the investment in Glybera® to support the registration process. Development of our other development projects has been reduced as we are constrained by our current resources and are focusing on the successful completion of the Glybera registration process. Research and development costs amounted to € 8.2 million for the period ended
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SOURCE Amsterdam Molecular Therapeutics B.V
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