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Cytos Biotechnology Ltd Reports First Quarter 2013 Financial Results and Recent Development
Date:4/24/2013

rgic asthma" by Kai-Michael Beeh , MD, et al. The article was selected for comment by the JACI Editors ("The Editors' Choice") under the heading "Get the balance right - therapeutic immune modulation in patients with allergic asthma".

Financial Results

Three-month period from January 1 to March 31, 2013

On March 31, 2013, funds available for financing the operations (including cash, cash equivalents, financial assets and trade and other receivables) amounted to CHF 23.58 million. The funds were CHF 5.07 million less than on December 31, 2012 (CHF 28.65 million) primarily due to expenses incurred in ongoing operating activities.

On March 31, 2013, the nominal value of convertible bonds not held by the Company amounted to CHF 13.17 million. Cytos did not buy back any convertible bonds on the market during the first quarter of 2013.

Revenue comprising deferred income from licence fees paid by Novartis of CHF 0.25 million has been recognized in the first quarter 2013, unchanged from the first quarter 2012.

The gross cash burn for operating activities, as calculated on the cash flow statement, was CHF 1.72 million on average per month in the first three months of 2013, compared to CHF 1.04 million on average per month in the first quarter of 2012.

Financial summary (IFRS, consolidated)

(in CHF million) Q1 2013 Q1 2012 Revenue 0,3 0,3 Net operating cost (4,0) (3,0) Operating loss (3,7) (2,8) Net (loss) / income (5,4) 2,5 Net (loss) / income per share (in CHF) (0,24) 0,47 December 31, (in CHF million) March 31, 2013 2012 Cash, cash equivalents, financial assets as well as trade and other receivables 23,6 28,7 Full-time equivalents 22,5 20,9

The detailed Q1 Financial Report 2013 can be downloaded at

http://www.cytos.com/uploads/2013/Cytos_Quarter_1_2013_E.pdf
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