REINACH, Switzerland, August 19 /PRNewswire-FirstCall/ -- Arpida Ltd (SIX: ARPN) announced today its financial results for the six months ending 30 June 2009.
Key events 2009 to date - Regulatory setback for intravenous iclaprim in cSSSI in U.S.A. - Strategic options under review - Company restructuring completed
Cash and financial investments of CHF 22.7 million at 30 June 2009
CFO Harry Welten, MBA, commented: "Our cost-saving measures have been implemented, resulting in a substantial reduction of the cash burn. We expect to have cash and financial investments of around CHF 14 million at the end of 2009."
Dr Jurgen Raths, President and CEO, commented: "Arpida is going through challenging times. We've completed a painful restructuring process in anticipation of a possible strategic deal. We remain fully committed to finding a strategic partner and securing the maximum value for our shareholders. Discussions are ongoing, as soon as these advance, we will provide an update."
The full 10 page text is available under: http://www.arpida.com
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
Contacts: Dr Jurgen Raths, President and CEO Tel: +41-61-417-96-60 Harry Welten, MBA, CFO and Senior Vice President Tel: +41-61-417-96-65 Paul Verbraeken, Head of Corporate Communications Tel: +41-61-417-96-83
|SOURCE Arpida Ltd.|
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