April 30, 2018 / 5:17 AM / 22 days ago

BRIEF-Curetis: Cash And Cash Equivalents At End-Dec. EUR 16.3 Million

April 30 (Reuters) - CURETIS NV:

* CURETIS PUBLISHES FULL-YEAR 2017 FINANCIAL RESULTS AND UPDATED GUIDANCE FOR 2018

* RECEIVED U.S. FDA CLEARANCE FOR UNYVERO SYSTEM AND UNYVERO LRT CARTRIDGE; COMMERCIAL U.S. ROLL-OUT INITIATED

* FY REVENUES: EUR 1.2 MILLION (EUR 1.3 MILLION IN 2016)

* OPERATING LOSS IN 2017 TOTALED EUR -18.6 MILLION, COMPARED WITH EUR -15.2 MILLION IN 2016

* FY NET LOSS: EUR -19.3 MILLION (EUR -15.2 MILLION IN 2016)

* CASH AND CASH EQUIVALENTS AT END DEC EUR 16.3 MILLION VERSUS EUR 22.8MLN YEAR AGO

* UNYVERO SYSTEM AND UNYVERO LRT APPLICATION CARTRIDGE COMMERCIAL LAUNCH IN U.S. IN Q2-2018

* SALES OF LRT APPLICATION CARTRIDGE ARE ANTICIPATED TO RAMP UP BY END OF 2018

* EXPECTS TO EXPERIENCE POSITIVE REVENUE EFFECTS TOWARDS END OF 2018 AND GOING FORWARD.

* EXPECTS TO INITIATE SITES FOR PROSPECTIVE PATIENT SAMPLE ENROLLMENT INTO ITS SECOND U.S. FDA CLINICAL TRIAL FOR UNYVERO IJI INVASIVE JOINT INFECTION APPLICATION CARTRIDGE BEGINNING IN H2-2018

* EXPECTS TO COMPLETE UNYVERO IJI INVASIVE JOINT INFECTION APPLICATION CARTRIDGE TRIAL IN 2019

* AIMS TO INITIATE PROSPECTIVE CLINICAL TRIALS IN CHINA IN SECOND HALF OF 2018.

* OBJECTIVE IS TO COMPLETE FIRST TRIALS IN 2019, WITH SUBSEQUENT CFDA SUBMISSION AND APPROVALS

* EXPECTS TO RECEIVE CE-IVD MARKING FOR UNYVERO A30 RQ ANALYZER AS WELL AS FIRST A30 RQ APPLICATION CARTRIDGES DURING COURSE OF 2019.

* EXPECTS FIRST RESULTS AND INITIAL PRODUCT LAUNCHES FROM MEMORANDUM OF UNDERSTANDING (MOU) SIGNED WITH MGI (A BGI GROUP COMPANY, CHINA) IN 2018 AND 2019 TIMEFRAME

* AIMS TO AT LEAST DOUBLE ITS REVENUE YEAR-OVER-YEAR IN 2018.

* EXPECTS NET CASH-BURN FROM OPERATING AND INVESTMENT ACTIVITIES FOR 2018 TO BE AROUND 30 MILLION EUR

* ALSO EXPECTS TO FURTHER GROW ITS EMPLOYEE BASE AT ITS VARIOUS INTERNATIONAL SITES AND OPERATIONS IN COMING YEARS. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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