November 20, 2016 / 9:56 PM / in a month

BRIEF-Bone Therapeutics FY Operating Loss Narrows To 9.6 Million Euros

March 11 (Reuters) - BONE THERAPEUTICS SA:

* FY OPERATING LOSS -9.58 MILLION EUR

* OUTLOOK 2020: ANTICIPATES STARTING PATIENT RECRUITMENT FOR PHASE III STUDY WITH JTA-004, FOR TREATMENT OF PAIN IN PATIENTS WITH KNEE OSTEOARTHRITIS IN Q1 2020

* FY REVENUES AND OPERATING INCOME OF € 4.92 MILLION

* YEAR-END CASH POSITION OF € 8.63 MILLION COMPARED TO € 8.17 MILLION YEAR-END 2018

* IN THE SECOND HALF OF 2020, THE COMPANY EXPECTS TO REPORT RESULTS FROM THE 2-YEAR FOLLOW-UP PERIOD OF THE PHASE IIA STUDY WITH ALLOB IN PATIENTS UNDERGOING A SPINAL FUSION PROCEDURE

* ANTICIPATES HAVING SUFFICIENT CASH TO CARRY OUT ITS BUSINESS OBJECTIVES INTO Q3 2020

* OUTLOOK 2020: NET CASH BURN FOR FY 2020 IS EXPECTED TO BE IN THE RANGE OF € 15-17 MILLION ASSUMING NORMAL OPERATION AS THE EFFECT OF THE ONGOING COVID-19 EPIDEMY CANNOT BE EXCLUDED

* OUTLOOK: PLANS TO RAISE NEW FUNDS FROM CAPITAL MARKETS AND/OR THROUGH ALTERNATIVE FUNDING STRATEGIES Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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