LEUVEN, Belgium, August 24 /PRNewswire/ -- ThromboGenics NV (Euronext Brussels: THR), a biotechnology company focused on vascular diseases, today announces a business update and its financial results for the seven month period ending 30 June 2007. During this period, ThromboGenics has raised additional funds to invest in its development pipeline and has continued to make good progress with its clinical programs.
- Successful placing of a total of 5,166,517 shares, which increased the company's free float to 70%, and led to an improvement in stock liquidity. As part of this placement, ThromboGenics issued 2,214,030 new shares raising a total of EUR23.9m. These new funds have strengthened ThromboGenics financial position, and will allow it to continue to advance the development of its product portfolio and strengthen its operations. The company's cash position amounted to EUR49.3m as of 30 June 2007.
- Further progress with microplasmin for ophthalmic indications. Initiation of a Phase IIb clinical trial of microplasmin in vitrectomy (MIVI III - Microplasmin for Vitreous Injection) in the United States, as well as the initiation of two Phase IIa clinical trials of microplasmin in Europe, for Vitreomacular traction and diabetic macular edema (MIVI IIT and MIVI II, respectively).
- Progressed TB-402 (anti-factor VIII) into man, in collaboration with BioInvent International. TB-402 is being developed as a potential anti-coagulant for the treatment and prevention of deep vein thrombosis (DVT) and atrial fibrillation.
- For the December 2006 to June 2007 period, revenues amounted to EUR1.3m, mainly coming from out-licensing. Operating expenses were EUR10.5m, the majority of which were due to R&D expenses related to the microplasmin clinical development program. The net loss for the period was EUR8.6m.
- As of 30 June 2007, ThromboGenics had EUR49.3m in cash and cash
equivalents. This compared to
|SOURCE ThromboGenics NV|
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