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

June 30, 2011 compared to € 8.1 million in the same period of 2010. At the same time, general and administrative costs amounted to € 1.8 million in the period ended June 30, 2011 compared to € 1.8 million in the same period of 2010.

Net interest income/(cost) amounted to € 0.0 million for the period ended June 30, 2011, consistent with the € (0.0) million in the same period in 2010.

Cash and cash equivalents amounted to € 9.1 million at June 30, 2010, a decrease of € 8.8 million compared to € 17.9 million at December 31, 2010.  The decrease in cash and cash equivalents mainly stems from the operational cash outflow which amounted to € 8.8 million for the period ended June 30, 2011 (compared to an operating cash outflow of € 8.9 million for the period ended June 30, 2010).

Outlook

The Company's expenditure is expected to reduce in the second half of 2011 as the Company takes steps to extend its cash position into 2012. 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 collaborations with partners; AMT also tracks opportunities for raising additional capital in conjunction with its bankers.

Conference call and webcast presentation

AMT will conduct a conference call open to the public today at 3.30 p.m. CET, which will also be webcast. Netherlands dial in: +31 (0)20 707 5503; US dial in: +1 718 247 0884; UK dial in: +44 (0)20 7136 6285. Confirmation Code: 5149966

To listen to the conference call live via the internet, visit the investor relations portion of the AMT website at http://www.amtbiopharma.com. Please go to the website 15 minutes prior to the call to register, download and install the necessary audio software.

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