March 13, 2020 / 8:43 AM / 25 days ago

BRIEF-Advicenne FY Net Loss Widens To 14.2 Million Euros

March 13 (Reuters) - ADVICENNE SA:

* FY NET LOSS EUR 14.2 MILLION VERSUS LOSS OF EUR 5.0 MILLION YEAR AGO

* FY OPERATING LOSS EUR 14.2 MILLION VERSUS LOSS OF EUR 5.3 MILLION YEAR AGO

* FY REVENUE EUR 1.6 MILLION VERSUS EUR 1.0 MILLION YEAR AGO

* 2020 WILL PRIMARILY BE DEVOTED TO PREPARING EUROPEAN LAUNCH OF ADV7103, WHOSE APPLICATION FOR MARKETING AUTHORIZATION IS UNDER REVIEW WITH THE EMA’S COMMITTEE FOR MEDICINAL PRODUCTS FOR HUMAN USE (CHMP). A DECISION IS EXPECTED IN 2020

* TOTAL REVENUE FROM CURRENT ACTIVITY EUR 2.58 MILLION VERSUS EUR 6.92 MILLION YEAR AGO

* OUTLOOK IN 2020 ADVICENNE WILL ALSO CONTINUE TO PURSUE ITS INVESTMENT IN PHASE III CLINICAL TRIALS IN EUROPE, CANADA AND IN THE UNITED STATES IN THE TREATMENT OF DRTA AND CYSTINURIA

* OUTLOOK 2020-2021 THE COMPANY HAS ALSO SUBMITTED ITS FIRST REQUESTS FOR ORPHAN DRUG DESIGNATION IN THE UNITED STATES

* AT THE CLOSE OF 2019, ADVICENNE’S CASH AND CASH EQUIVALENTS WERE AT €16.6 MILLION, REFLECTING LIMITED CONSUMPTION OF €9.6 MILLION FOR THE YEAR

* FY CASH FLOW LOSS OF EUR 9.5 MILLION VERSUS LOSS OF EUR 10.2 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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