2009 will be a pivotal year for ExonHit Therapeutics. Assuming successful clinical validation of EHT Dx21, its blood diagnostic test for Alzheimer's disease, the Company will put its first product on the market. Furthermore, assuming successful completion of the EHT 0202 Phase lla study, the Company will engage in out-licensing activities to support further development of this product in Alzheimer's disease.
2008 Consolidated financial results
Philippe Rousseau, Chief Financial Officer of ExonHit Therapeutics, said: "Our investment efforts in the clinical development of our lead compounds in both Diagnostics and Therapeutics will continue in the first half of 2009 whereas in the second part of the year, we are committed to invest in marketing to prepare for EHT Dx21's launch." He added: "Our financial situation remains healthy with more than 24 months of cash at the end of 2008 and a tool to strengthen our shareholder's equity, the warrant exercise period running until the end of June."
- Income Statement
Total revenues amount to EUR 4.2 million, a decrease of 22% compared to the EUR 5.4 million achieved in 2007. This decrease mainly comes from our Therapeutics activities as in 2007 we recognized a milestone payment in our strategic collaboration with Allergan in addition to the annual R&D payments.
Consolidated R&D revenues were EUR 4.2 million in 2008, down 21% compared to EUR 5.3 million in 2007. R&D revenues from grants decreased to EUR 0.01 million in 2008 from EUR 0.05 million in 2007.
R&D expenses have increased by 15% to EUR 9.9 million in 2008 compared to
EUR 8.6 million in 2007, mainly as a result of increased expenses in clinical
trials in both our therapeutics and diagnostics activities. In 2008, R&D
revenues covered 43% of the Company's R&D expenses, as opposed to 62% in 200
|SOURCE ExonHit Therapeutics SA|
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