STRASBOURG, France, March 11 /PRNewswire-FirstCall/ -- Transgene (Euronext Paris: FR0005175080) announces today its achievements in operations, financial performance for 2007 and outlook for 2008.
"2007 was a breakthrough year for Transgene, marked by two major accomplishments: the signing of a partnership agreement with Roche in the domain of therapeutic vaccines for the treatment of diseases caused by the HPV virus, and the successful completion of a EUR100.1m capital increase on European markets," declared Philippe Archinard, Managing Director of Transgene.
Key financial highlights include:
- Total revenues for the year were EUR28million compared to EUR5.5m in 2006.
- Transgene closed the year with a net loss of EUR5.5m compared to a net loss of EUR22m a year earlier.
- Basic loss per ordinary share was EUR0.28 versus EUR1.41 in 2006.
- Research and development expenditures were EUR28.8m compared to EUR24.2m in 2006.
- In 2007, net cash expenditure, excluding capital increase, was EUR5.5m compared to EUR20.7m in 2006.
- At the end of 2007, the company held cash and cash equivalents of EUR111.3m, which should enable it to finance some four years of operating costs.
Major Accomplishments of 2007:
Partnership Roche /Transgene: announced in April 2007, an exclusive world wide license agreement aimed at the development, registration and commercialisation of Transgene's therapeutic vaccines developed to fight diseases caused by the Human Papilloma Virus. Transgene received an upfront payment and a regulatory milestone of EUR23m in June 2007 and may receive further payments of up to EUR195m covering clinical development milestones and commercial milestones based on future sales of HPV products, stemming from Transgene's research. Under the terms of the agreement, Transgene is also entitled to receive progressive, double digit royalties on all future sales.
Strengthening of the Equity Bas
|SOURCE Transgene S.A.|
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