SYDNEY, Sept. 3, 2013 /PRNewswire/ -- Viralytics Limited (ASX:VLA, OTCQX:VRACY) has released its financial results for the year ended 30 June 2013.
Financial ResultsNet cash used in operating activities for the Year
$3.9 millionCash position at the end of the Year
$5.1 millionReported loss
Operational HighlightsCAVATAK™ Phase II CALM Melanoma Clinical Trial (USA) Highlights include:
CAVATAK™ Phase I studies completed (Australia)
CAVATAK™ Preclinical studies completed (Australia and the UK)
"The 2013 financial year has been one of outstanding progress at Viralytics, which leaves us well positioned to further develop the business in the coming year," said Dr. Malcolm McColl, Chief Executive Officer of Viralytics. "We have achieved key milestones in our Phase 2 CALM study, with interim results demonstrating promising anti-cancer activity. We also had a number of excellent outcomes in our Phase 1 and preclinical programs, demonstrating the broad anti-cancer activity of CAVATAK™. Our focus is to maintain momentum in clinical development and translate this progress into valuable commercial outcomes."
About Viralytics Ltd:
Viralytics is developing oncolytic virotherapy treatments for a range of cancers. Viralytics' lead product, CAVATAK™, is a proprietary formulation of the common cold Coxsackievirus Type A21 (CVA21). CVA21 binds to specific "receptor" proteins highly expressed on multiple cancer types including, but not limited to melanoma, prostate, lung, breast and bladder cancers; and multiple myeloma. Intratumourally administered CAVATAK™ is currently being studied in a Phase 2 clinical trial in the treatment of Late stage Melanoma (the CALM study) at multiple cancer clinics in the US. Viralytics also plans to commence a Phase 1/2 study of CAVATAK™ delivered intravenously in patients with melanoma, prostate, lung or metastatic bladder cancers prior to the end of 2013 (the STORM study).
Based in Sydney Australia, Viralytics is listed on the Australian Securities Exchange (ASX: VLA) while its ADRs also trade under VRACY on the US OTCQX market. For more information on the company, please visit http://www.viralytics.com.
For Viralytics Ltd:US Investor Contacts:Dr. Malcolm McColl
+61 2 8889 3672
Joshua Drumm, Ph.D. / Jason Rando
Tiberend Strategic Advisors, Inc.
|SOURCE Viralytics Ltd.|
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