nt to EUR 5.4
million, a decrease of 5% compared to the EUR 5.6 million achieved in 2006.
At constant exchange rate, total revenues would have increased 4% between
2006 and 2007. 89% of ExonHit's 2007 revenues come from the Allergan
collaboration; this compares with 76% in 2006. While revenues generated by
the Therapeutics and SpliceArray(TM) activities posted double-digit growth
in 2007, revenues form the bioMerieux collaboration decreased due to, on
the one hand, the delays experienced in the recruitment of samples in
prostate cancer and, on the other hand, the milestone achieved in 2006 in
R&D revenues from grants increased from EUR 0.01 million in 2006 to EUR
0.05 million in 2007.
R&D expenses have increased by 27% to EUR 8.6 million in 2007 when
compared to EUR 6.8 million in 2006, mainly as a result of increased
expenses in clinical trials. In 2007, R&D revenues covered 62% of the
company's R&D expenses, as opposed to 83% in 2006.
Marketing and selling expenses have increased by 31% to EUR 1.0 million
in 2007, compared to EUR 0.8 million in 2006. This increase mainly comes
from the recruitment of new employees in this department and the increase
in the selling and marketing effort for SpliceArray(TM).
General and administrative costs increased by 16% to EUR 3.5 million in
2007, compared to EUR 3.0 million in 2006. This increase mainly comes from
the substantial increase of study and consultancy fees between the two
years as a result of increased expenses to value our IP.
Operating expenses have been increased by 24% to EUR 13.2 million in
2007 compared to EUR 10.6 million in 2006. In 2007, 65% of these expenses
are allocated to R&D compared to 64% in 2006.
Consequently, the company posted an operating loss of EUR 7.8 million
in 2007, compared to EUR 5.0 million in 2006.
The presence of convertible bonds throughout fiscal year 2007, as well
as the leasing of some pieces of equipment, explains
Page: 1 2 3 4 5 6 7 8 9 10 11 12 Related biology technology :1
|SOURCE ExonHit Therapeutics SA|
Copyright©2008 PR Newswire.
All rights reserved
. ExonHit Therapeutics: Allergan and ExonHits First Collaboration Compound to Begin Human Clinical Trials2
. ExonHit Completes a Prototype to Detect Alzheimers Disease From Blood3
. ExonHit Gets Regulatory Approval to Initiate a Phase 2 Clinical Trial for EHT 0202 in Alzheimers Disease4
. ExonHit and bioMerieux Amend Their Strategic Partnership5
. ExonHit Builds A New Organisation6
. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA7
. DJO Incorporateds Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review8
. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation9
. Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway10
. Amsterdam Molecular Therapeutics to Release H1 2007 Results on August 29, 200711
. Nektar Therapeutics Appoints Tim Harkness as Chief Financial Officer