|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
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 02:30 AM EDT Reads: 1,767
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 28, 2016 02:30 AM EDT Reads: 1,525
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 28, 2016 02:15 AM EDT Reads: 1,389
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Jul. 28, 2016 02:00 AM EDT Reads: 2,040
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Jul. 28, 2016 01:45 AM EDT Reads: 1,099
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Jul. 28, 2016 01:15 AM EDT Reads: 820
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 01:00 AM EDT Reads: 1,613
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Jul. 28, 2016 12:15 AM EDT Reads: 2,231
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
Jul. 27, 2016 10:30 PM EDT Reads: 2,013
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Jul. 27, 2016 10:30 PM EDT Reads: 1,153
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 10:30 PM EDT Reads: 1,407
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 10:15 PM EDT Reads: 1,406
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jul. 27, 2016 10:00 PM EDT Reads: 2,665
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Jul. 27, 2016 09:45 PM EDT Reads: 2,004
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
Jul. 27, 2016 09:45 PM EDT Reads: 2,173