To NASDAQ OMX Copenhagen A/S
Announcement no. 13-12 / Copenhagen, August 29, 2012
Copenhagen, Denmark – August 29, 2012 – Today, Topotarget A/S (NASDAQ OMX: TOPO) announced that the Board of Directors has reviewed and approved the company’s interim report for the period January 1 to June 30, 2012.
Highlights of the financial results for the period January 1 to June 30, 2012:
- Topotarget recognized revenues of DKK 2.2 million during the period (DKK 57.4 million in the same period in 2011)
-
The total net loss from comprehensive income before tax for the period was DKK
-41.3 million (the total net profit from comprehensive income before tax was DKK 5.3 million for the same period in 2011) - The company’s net cash and cash equivalents as of June 30, 2012 totaled DKK 70.8 million (DKK 114.3 million at year-end 2011)
- Topotarget still expects a pre-tax loss in the range of DKK 75-95 million for the full-year financial result of 2012 excluding potential milestones
Topotarget A/S
For further information, please contact:
Francois Martelet, CEO Direct: +45 39 17 83 41; Mobile: +45 51 32 83 41
Anders Vadsholt, CFO Direct: +45 39 17 83 45; Mobile: +45 28 98 90 55
Axel Mescheder, CMDO Direct: +45 39 17 83 14; Mobile: +45 51 55 71 66
Background information
About Topotarget
Topotarget (NASDAQ-OMX: TOPO) is an international biopharmaceutical company headquartered in Copenhagen, Denmark, dedicated to clinical development and registration of oncology products. Topotarget focuses, in collaboration with Spectrum Pharmaceuticals, Inc., on the development in pivotal studies of its lead drug candidate, belinostat, which has shown positive results as a monotherapy treating hematological malignancies and positive results in solid tumors. Belinostat may be used in combination with full doses of chemotherapy, and is in a pivotal trial within PTCL (peripheral T-cell lymphoma). For more information, please refer to www.topotarget.com.
Topotarget A/S Safe Harbor Statement
This announcement may contain forward-looking statements, including statements about our expectations of the progression of our preclinical and clinical pipeline including the timing for commencement and completion of clinical trials and with respect to cash burn guidance. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Topotarget A/S cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: The risk that any one or more of the drug development programs of Topotarget A/S will not proceed as planned for technical, scientific or commercial reasons or due to patient enrolment issues or based on new information from non-clinical or clinical studies or from other sources; the success of competing products and technologies; technological uncertainty and product development risks; uncertainty of additional funding; Topotarget A/S' history of incurring losses and the uncertainty of achieving profitability; Topotarget A/S' stage of development as a biopharmaceutical company; government regulation; patent infringement claims against Topotarget A/S' products, processes and technologies; the ability to protect Topotarget A/S' patents and proprietary rights; uncertainties relating to commercialization rights; and product liability exposure. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.
