March 22, 2018 / 6:38 AM / in a month

BRIEF-Paion FY Net Loss At EUR 12.1 Million

March 22 (Reuters) - PAION AG:

* SAYS FINANCIAL RESULTS IN LINE WITH PLAN

* SAYS CASH AND CASH EQUIVALENTS OF EUR 24.8 MILLION AS OF 31 DECEMBER 2017

* FY2017 REVENUES AMOUNTED TO EUR 5.8 MILLION INCREASED OF EUR 1.5 MILLION VERSUS TO PREVIOUS YEAR

* GENERAL ADMINISTRATIVE AND SELLING EXPENSES AMOUNTED TO EUR 3.8 MILLION, A DECREASE OF EUR 1.3 MILLION VERSUS YEAR AGO

* NET LOSS WAS EUR 12.1 MILLION, SIGNIFICANTLY LOWER THAN PRIOR YEAR FIGURE OF EUR 20.1 MILLION

* CASH AND CASH EQUIVALENTS AS OF 31 DEC 2017 AMOUNTED TO EUR 24.8 MILLION, DECREASED EUR 5.3 MILLION VERSUS PRIOR YEAR

* SAYS PAION EXPECTS REVENUES OF APPROX. EUR 3 MILLION IN 2018 - OUTLOOK

* EXPECTS RESEARCH AND DEVELOPMENT EXPENSES TO BE BETWEEN APPROX. EUR 15 MILLION AND APPROX. EUR 17 MILLION Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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