- Net loss of EUR 7.3 million, against EUR 4.5 million in 2006; - Cash burn from operations remained limited at EUR 4.9 million (EUR 3.9 million in 2006);
- Consolidated cash and cash equivalents position increased to EUR 31.3 million at December 31, 2007 by issuance of new shares against EUR 24.0 million at December 31, 2006.
- Strategic progress in therapeutics
- New financial commitments from Allergan on the collaboration with the nomination in regulatory pre-development of a second compound resulting from the collaboration.
- Strengthened position in diagnostics
- Initiation of a new program in the field of blood diagnostic of prostate cancers in the framework of the collaboration signed with bioMerieux. To this end, ExonHit has initiated to the financing of clinical trials in Austria to speed the collection of blood samples.
- Development of the SpliceArray(TM) business
- Implementation and certification of an Affymetrix platform to equip a second service laboratory in Paris.
- Strengthened patent portfolio
- 10 new patents were filed in 2007, bringing the total of active patents filed since the Company's creation in 1997 to 177. 26 patents have been granted to ExonHit Therapeutics since its inception.
Bruno Tocque, President of the Management Board of ExonHit, commented: "We have reached our main objectives in 2007. We are very proud of the work accomplished by our collaborators in a context of market agitation which has been very disturbing for companies like ExonHit which invest in innovation with 65% of its operating expenses devoted to R&D.
We have kept our cash burn from operations below EUR 5 million while
still investing more in R&D than in 2006. At December 31, 2007, we have an
enviable cash and cash equivalent position of EUR 31.3 million. We will
thereby have the capacity to continue our investment efforts, and notably
|SOURCE ExonHit Therapeutics SA|
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