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BRIEF-Mithra Pharmaceuticals cash at Dec. 31, 2016 amounted to 45.7 million euros
March 2, 2017 / 7:12 AM / 8 months ago

BRIEF-Mithra Pharmaceuticals cash at Dec. 31, 2016 amounted to 45.7 million euros

March 2 (Reuters) - Mithra Pharmaceuticals SA:

* FY revenue 22.5 million euros ($23.7 million) versus 20.4 million euros year ago

* FY net loss of 35.1 million euros versus loss of 9.8 million euros year ago

* FY operating loss of 36.0 million euros versus loss of 14.3 million euros year ago

* FY cash flow amounted to -51 million euros

* Cash at Dec. 31, 2016 was 45.7 million euros (96.8 million euros in 2015)

* We also anticipate filing for marketing approval for our vaginal contraceptive, myring, in both europe and the us in Q2 2017

* Significant investment in the development of its advanced pipeline, especially the E4-based products, is expected to continue in 2017

* In 2017 will further accelerate its business development efforts, as it plans to partner its E4-based programs for territories including Europe and the US

* Company is currently identifying potential partners in US, and discussions are expected to ramp up in 2017

* Partnering strategy for Donesta will reduce upfront expenditure

* Phase III Estelle studies are expected to report top line results between Q3 2018 and early 2019

* On Myring: AFMPS‘S GMP1 audit took place post-period, in February 2017, and Mithra expects to announce a further update regarding GMP‘S findings in Q2 2017

* In order to maximize global potential of Donesta and spread development cost and risks, board decided to seek development partners as early as phase III

* For Zoreline, PK study is currently ongoing, and the clinical study report is expected in H2 2017

* Remains committed to finding a partner to co-develop and commercialize Zoreline Source text: Further company coverage: ($1 = 0.9498 euros) (Gdynia Newsroom)

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