ThromboGenics NV Announces Business Update and Half Year Re...(ng of its strategic partnership for TB-4...)

In the first half of 2009, gross profit amounted to EUR3.2 million. In the same period in 2008, ThromboGenics achieved a gross profit of EUR30.3 million due to the upfront payment from Roche mentioned earlier.

ThromboGenics invested EUR8.8 million in its R&D activities in the first six months of 2009. This compares with a spend on R&D of EUR11.6 million in the same period in 2008. This reduction in R&D spend was the result of the decision to capitalise the Phase III clinical trial costs relating to microplasmin for back of the eye disease. In the first half of 2009, EUR5.7 million of R&D costs were capitalized.

ThromboGenics general and administrative expenses increased to EUR1.7 million from EUR1.2 million due to higher (one-off) legal costs in part due to the merger of ThromboGenics NV with its subsidiary ThromboGenics Ltd.

In the first half of 2009, ThromboGenics reported an operating loss of EUR5.5 million. This compares with an operating profit of EUR17.3 million in the corresponding period in 2008, which resulted from the significant upfront payment received from Roche.

ThromboGenics achieved net financial income of EUR0.8 million in the first half of 2009. In the first half of 2008, the Company also had net financial income of EUR0.8 million.

In the first half of 2009, ThromboGenics had a pre-tax loss of EUR4.7 million. This compares with a pre-tax profit of EUR18.0 million in the first half of 2008. In both periods, ThromboGenics paid minimal tax expenses.

ThromboGenics reported a net loss of EUR4.7 million in the first half of 2009, giving a diluted loss per share of EUR0.17. This compares with a net profit of EUR18.0 million and diluted earnings per share of EUR0.67 in the first half of 2008.

Financial Position and Cash Flow

As of 30 June, ThromboGenics h
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