James Bruno to Lead Arpida's North-American Commercial Operations
REINACH, Switzerland, August 20 /PRNewswire-FirstCall/ -- Arpida Ltd
(SWX: ARPN) announced today its financial results for the six months ending
30 June 2008.
Highlights 2008 to date
Major pipeline progress:
- Regulatory filings for intravenous iclaprim in cSSSI submitted in
U.S.A. and Europe
- Enrolment in Phase II "intravenous-to-oral" switch trial with oral
iclaprim progresses well
- Enrolment in Phase II HAP/VAP/HCAP trial challenging
- Enrolment in Phase III trial with TLT approaches 50%
- Leadership change to enable Arpida to become a fully integrated
- Raised CHF 19.6 million in a secondary offering in April 2008
- Cash and financial investments of CHF 67.9 million at 30 June 2008
CFO Harry Welten, MBA, commented: "Thanks to continued focus we have managed to keep spending in the first half of 2008 within the guidance given in March this year. Due to the build-up of commercial capabilities, we expect cash spending on operating activities in the second half of 2008 to be around CHF 4.5 million on average per month. Based on our financial position and iclaprim's advanced development status, we feel we are well-placed as we approach 2009, which we expect to be a launch year."
Dr Jürgen Raths, President and CEO, commented: "I am very pleased with the achievements in the year to date, not only in financial terms, but also in terms of development and regulatory progress. Our lead product candidate iclaprim is now under review at the major regulatory authorities on both sides of the Atlantic. We are very much looking forward to hearing from the U.S. authorities in January 2009. After more than 10 years of hard work, Arpida is getting very close to turning what used to be a promising compound into a promising drug, providing physicians with a potent new therapy in the fight against MRSA and other important pathogens."
Dr Raths added: "I am delighted that we have been able to attract James
Bruno to join us and support us in developing and executing our commercial
strategy. His proven track record of outstanding commercial leadership will
be crucial as we add commercial competences."
The full, 12-page press release is available on http://www.arpida.com.
Dr Jürgen 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 Tel.: +41-61-417-96-83
|SOURCE Arpida Ltd.|
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