PARIS, March 5 /PRNewswire-FirstCall/ -- ExonHit Therapeutics S.A., a French drug and diagnostic discovery company, today announces its consolidated financial results for the year ending December 31, 2007.
2007 Key Events
- Milestone reached in the therapeutic research collaboration with Allergan Inc., (NYSE: AGN) in view of the initiation of Phase 1 trials with the first compound resulting from the collaboration;
- Approval by the AFSSAPS (Agence Francaise de Securite Sanitaire des Produits de Sante) and by ethics committees to initiate a clinical trial on 135 patients suffering from Alzheimer's disease, as a result of Phase 1 clinical trials of EHT0202 which were successfully realized during the year;
- Prototype of the first blood test of Alzheimer's Disease which the Company wishes to sell, as a first commercial step and as early as 2009, in its service laboratories which are GLPS (Good Laboratory Practices Standards) compliant, to the pharmaceutical industry;
- Signature of an amendment to the strategic partnership with bioMerieux in the field of cancer diagnostics. Pursuant to this amendment, ExonHit obtained certain commercial rights to diagnostic tools resulting from the collaboration and bioMerieux will have more flexibility to initiate new R&D programs in this field;
- New genomic map for the analysis of the murine genome;
- Increased financial resources, substantial improvement of stock
liquidity and higher free float.
Other 2007 important events
- Key financial figures
- Total revenues at EUR 5.4 million in 2007 (EUR 5.6 million in 2006);
- R&D expenses at EUR 8.6 million in 2007 (EUR 6.8 million in 2006);
- Operating loss at EUR 7.8 million in
|SOURCE ExonHit Therapeutics SA|
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