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BRIEF-Paion H1 net loss widens to EUR 11.3 mln
August 12, 2015 / 5:42 AM / 2 years ago

BRIEF-Paion H1 net loss widens to EUR 11.3 mln

Aug 12 (Reuters) - Paion AG :

* H1 research and development expenses increased significantly to 12.0 million euros compared to 4.3 million euros in first half of 2014

* Net loss of 11.3 million euros has been incurred in first half-year 2015 (prior-year period: net loss of 3.8 million euros)

* Cash and cash equivalents decreased as planned by 12.0 million euros in first half-year 2015 compared to Dec. 31, 2014 and amounted to 47.0 million euros as of June 30, 2015

* Further concentrates on development of remimazolam and does not expect significant revenues in 2015

* 2015 net loss will increase significantly compared to prior year and amount to approximately 25 million euros to 29 million euros

* FY research and development expenses will be higher than in 2014 and amount to approximately 25 million euros to 30 million euros dependent on progress of development

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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