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BRIEF-Molecular Partners Q1 total revenues of CHF 3.1 mln
May 4, 2017 / 5:10 AM / 5 months ago

BRIEF-Molecular Partners Q1 total revenues of CHF 3.1 mln

May 4 (Reuters) - Molecular Partners AG:

* Operating loss of 6.7 million Swiss francs and net loss of 7.6 million Swiss francs in Q1

* Net cash used in operating activities of 10.1 million Swiss francs in Q1 2017, reflecting scale-up of research and development, pipeline growth and progress of proprietary clinical programs

* Ongoing strong financial position with 169.2 million Swiss francs ($170.14 million)in cash and short-term time deposits as of March 31, 2017

* In Q1 of 2017, Molecular Partners recognized total revenues of 3.1 million francs (Q1 2016: 6.8 million francs) and incurred operating expenses of 9.8 million francs (Q1 2016: 9.0 million francs)

* Second indication for phase 2 trial of MP0250 to be disclosed in Q2 2017

* Phase 3 trials for DME to start in H2 2017

* Reiterates all elements of financial outlook 2017 Source text for Eikon: Further company coverage: ($1 = 0.9945 Swiss francs) (Gdynia Newsroom)

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