AB Science: Turnover up 41% compared to 2011 third quarter
EMA Accepts Marketing Application for Masitinib in GIST
AB Science SA (NYSE Euronext - FR0010557264 - AB), a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), today reports its revenues for the third quarter of 2012 and provides an update on its activities for this period.
I. Key event of the third quarter of 2012
AB Science announced on October 4th 2012 that the filing for the Marketing Authorization of masitinib in GIST resistant to Gleevec® was accepted by EMA. This filing was accepted on the basis of results from a phase II study that showed masitinib significantly improved overall survival in patients with Gleevec®-resistant GIST as compared with Sutent® (sunitinib) from Pfizer, which is currently the standard of care for second-line treatment of GIST.
II. Third quarter sales of 2012
AB Science revenues in the third quarter amounted to €358 thousand, vs. €254 thousand in the third quarter of 2010, up 41%.
These revenues derive from the commercial exploitation of masitinib in veterinary medicine in Europe and in the United States.
III. Update on financial situation as of 30 September 2012
AB Science Cash1 was €27.6 million as of 30 September 2012, vs. €29.8 million on 30 June 2012.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and commercialization of new targeted therapies for patients with cancer and other important diseases with high unmet medical needs including inflammatory diseases and central nervous system diseases.
AB Science has developed a proprietary portfolio of protein kinase inhibitors (PKIs), a new class of targeted molecules the action of which is to modify signaling pathways within cells. AB Science’s lead compound, masitinib has already been registered in veterinary medicine in Europe and in the United States, and is being developed in nine phase 3 trials in human medicine, including 1 study under analysis in pancreatic cancer, and 8 on-going studies in GIST, metastatic melanoma expressing JM mutation of c-Kit, multiple myeloma, mastocytosis, severe persistent asthma, rheumatoid arthritis, and progressive multiple sclerosis. The Company is headquartered in Paris, France, and is listed on Euronext Paris (Ticker: AB).
More information is available on our website: www.ab-science.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy AB Science shares. If you wish to obtain more comprehensive information about AB Science, please refer to documents available on our website www.ab-science.com. This release may contain certain forward-looking statements. Although the Company believes that these statements are based upon reasonable assumptions at the date of publication of this document, they are inherently subject to risks and uncertainties which could cause actual results to differ from the present figures and those expressed or implied in these statements.
1 Cash: available cash, cash equivalent and financial assets invested in certificates of deposit.
AB Science – Financial communication & Press relations