|By PR Newswire||
|February 13, 2014 01:00 AM EST||
ZURICH, February 13, 2014 /PRNewswire/ --
Cytos Biotechnology Ltd (SIX:CYTN) today presented its full year 2013 financial results.
Full year consolidated financial figures 2013:
Funds available for financing the Company's operations amount to CHF 40.00 million as per December 31, 2013, and include cash and cash equivalents, financial assets and trade and other receivables. This is CHF 11.35 million higher than on December 31, 2012 (CHF 28.65 million). This net change is composed of a cash increase of CHF 31.23 million due to funds raised in the form of equity (CHF 24.60 million) and debt (CHF 6.63 million) as well as a payment of CHF 1.00 million from a collaboration partner and other payments of CHF 0.20 million. Cash decreased by CHF 1.10 million due to share capital issuance costs as well as funds (CHF 19.98 million) mainly spent on ongoing operating activities - in particular, the global clinical Phase 2b trial with CYT003 in allergic asthma.
As of December 31, 2013, convertible bonds with a nominal value of CHF 13.17 million are issued and outstanding, i.e. not held by the Company. These convertible bonds are due for repayment at 150% of par in February 2015 unless they are converted into equity. In 2013 the conversion price was reduced from CHF 7.71 to CHF 7.32 per share due to the anti-dilution clause. The current conversion price is subject to further reduction on certain conditions. Furthermore, convertible loan notes with a nominal value of CHF 13.25 million are issued and outstanding per December 2013. They become due for repayment in February 2015 unless they are converted into equity. In 2013 the conversion price was reduced from CHF 2.244 to CHF 2.13 per share due to the anti-dilution clause. The current conversion price is subject to further reduction on certain conditions.
Revenues decreased from CHF 1.10 million in 2012 to CHF 1.00 million in 2013. In 2012 the revenue stemmed from license fees from Novartis of CHF 1.00 million and revenue from a technology transfer of CHF 0.10 million. In 2013 the revenue derived solely from license fees from Novartis.
The gross cash burn for operating activities, as calculated on the cashflow statement, increased from CHF 1.10 million in 2012 to CHF 1.68 million in 2013 on average per month.
Financial summary (IFRS, consolidated)
(in CHF million) Results 2013 Results 2012 Revenue 1.0 1.1 Net operating cost (24.3) (14.6) Operating loss (23.3) (13.5) Net loss (30.8) (9.3) Net loss per share (in CHF) (1.32) (0.57) 31.Dezember 31. Dezember (in CHF million) 2013 2012 Cash, cash equivalents, financial assets & trade and other receivables 40.0 28.7 Full-time equivalents (number) 28.7 21
Full year statutory financial figures 2013:
Financial summary (statutory)
(in CHF million) Results 2013 Results 2012 Revenue 1.0 1.1 Total operating expenses (42.7) (20.6) Operating loss (41.7) (19.5) Other income 2.0 6.5 Net loss (44.5) (15.7) December 31, December 31, (in CHF million) 2013 2012 Total assets 47.6 54.6 Total liabilities 50.4 37.3 Shareholder's equity (2.8) 17.3
The full financial statements can be found on http://www.cytos.com/reports-and-presentations.
Conference call on Thursday, February 13, 2014, 3 pm - 4 pm CET
Participants are kindly asked to call the following numbers 10 - 15 minutes before Conference schedule.
Participant Dial-in numbers for conference call:
About Cytos Biotechnology Ltd
Cytos is a public biopharmaceutical company focused on the development of targeted immuno-therapies. The Company's lead product candidate CYT003 is a novel, first-in-class, immune modulator in Phase 2 clinical development as a potential new treatment for asthma.
CYT003 has a novel mechanism of action that inhibits the immune response that causes asthma, and may therefore be beneficial for the control of asthma. In a successfully completed Phase 2a study, CYT003 was shown to maintain asthma control and lung function in patients with persistent allergic asthma, despite withdrawal of standard therapy with inhaled corticosteroids.
CYT003 has been shown to have a good safety and tolerability profile in more than 450 individuals receiving the active agent so far. Cytos was founded in 1995 as a spinoff from the Swiss Federal Institute of Technology (ETH) in Zurich. It is located in Schlieren (Zurich), Switzerland. The Company is listed according to the Main Standard on the SIX Swiss Exchange Ltd under the symbol CYTN.
Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words "will" or "expect" or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, including that CYT003 may not demonstrate safety or efficacy in clinical trials, that there may be delays in development or that CYT003 may not receive marketing approval, and that the Company relies on outside financing to meet capital requirements, which may not be available under acceptable terms or at all. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
For further information, please contact:
Cytos Biotechnology Ltd
Chief Financial Officer
e-mail: [email protected]
US Investor enquiries
Susan A. Noonan
e-mail: [email protected]
SOURCE Cytos Biotechnology
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
Sep. 4, 2015 08:15 AM EDT Reads: 2,036
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Sep. 4, 2015 07:00 AM EDT Reads: 298
Puppet Labs is pleased to share the findings from our 2015 State of DevOps Survey. We have deepened our understanding of how DevOps enables IT performance and organizational performance, based on responses from more than 20,000 technical professionals we’ve surveyed over the past four years. The 2015 State of DevOps Report reveals high-performing IT organizations deploy 30x more frequently with 200x shorter lead times. They have 60x fewer failures and recover 168x faster
Sep. 4, 2015 07:00 AM EDT Reads: 133
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Sep. 4, 2015 06:00 AM EDT Reads: 752
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Sep. 4, 2015 06:00 AM EDT Reads: 505
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Sep. 4, 2015 05:00 AM EDT Reads: 128
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Sep. 4, 2015 05:00 AM EDT Reads: 1,666
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Sep. 4, 2015 04:30 AM EDT Reads: 1,705
ElasticBox, the agile application delivery manager, announced freely available public boxes for the DevOps community. ElasticBox works with enterprises to help them deploy any application to any cloud. Public boxes are curated reference boxes that represent some of the most popular applications and tools for orchestrating deployments at scale. Boxes are an adaptive way to represent reusable infrastructure as components of code. Boxes contain scripts, variables, and metadata to automate proces...
Sep. 4, 2015 02:15 AM EDT Reads: 130
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Sep. 4, 2015 02:00 AM EDT Reads: 271
To support developers and operations professionals in their push to implement DevOps principles for their infrastructure environments, ProfitBricks, a provider of cloud infrastructure, is adding support for DevOps tools Ansible and Chef. Ansible is a platform for configuring and managing data center infrastructure that combines multi-node software deployment, ad hoc task execution, and configuration management, and is used by DevOps professionals as they use its playbooks functionality to autom...
Sep. 4, 2015 02:00 AM EDT Reads: 126
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
Sep. 4, 2015 01:15 AM EDT Reads: 1,630
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Sep. 4, 2015 01:00 AM EDT Reads: 541
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Sep. 4, 2015 12:45 AM EDT Reads: 587
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Sep. 4, 2015 12:00 AM EDT Reads: 385