NeuroSearch A/S Completes Sale of Laboratory Equipment and Office Furniture; Company Confirms FY 2013 Earnings Guidance

NeuroSearch A/S announced that it has completed a sale of the Company's laboratory equipment and office furniture amounting to a total of approximately DKK 10 million. The sale was conducted in collaboration with Troostwijk Auctions. The sale does not influence the expectations to the 2013 operation loss as the sales revenue will be recognized under discontinued operations. For the fiscal year 2013, NeuroSearch still expects an operating loss of approximately DKK 15 million on the assumption of release of the escrow amount of DKK 28.7 million by Teva upon satisfactory transfer of the Huntexil project. The saving relating to dismissals will be realized after 2013. The above expectations do not take into account any loss or profit arising out of a potential sale of the remaining NeuroSearch assets.