March 11, 2020 / 5:26 PM / 24 days ago

BRIEF-Transgene FY Net Income Turns To Loss Of 18.8 Million Euros

March 11 (Reuters) - TRANSGENE SA:

* TRANSGENE: MAJOR RESEARCH AND DEVELOPMENT MILESTONES ACHIEVED IN 2019 AND STRONG CLINICAL ACTIVITY IN 2020

* CLINICAL RESULTS EXPECTED IN COMING MONTHS FOR TG4001 AND TG6002

* SUCCESSFUL COLLABORATIONS WITH ASTRAZENECA AND NEC HIGHLIGHTING QUALITY OF NEW PLATFORMS, INVIR.IO AND MYVAC RESPECTIVELY

* OPERATING INCOME OF EUR 13.7 MILLION IN 2019, COMPARED TO EUR 42.9 MILLION IN 2018

* NET LOSS OF EUR 18.8 MILLION IN 2019, COMPARED TO A NET PROFIT OF EUR 8.0 MILLION IN 2018

* CASH AVAILABLE AT YEAR-END 2019: EUR 43.3 MILLION, COMPARED TO EUR 16.9 MILLION AT END OF 2018, DUE TO SUCCESSFUL EUR 48.7 MILLION RIGHTS ISSUE COMPLETED IN JULY 2019

* TRANSGENE EXPECTS ITS CASH BURN FOR 2020 TO BE AROUND EUR 25 MILLION

* NET OPERATING EXPENSES OF EUR 39.2 MILLION IN 2019, COMPARED TO EUR 35.5 MILLION IN 2018

* FINANCIAL INCOME OF EUR 6.7 MILLION IN 2019 VERSUS A LOSS OF EUR 2.0 MILLION IN 2018 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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