May 2, 2018 / 6:00 AM / in 2 months

BRIEF-Noxxon Pharma Says Will Need Significant Additional Funds To Conduct Its Future Clinical Trials

May 2 (Reuters) - NOXXON PHARMA:

* ANNOUNCED ON MONDAY THAT ITS FY REVENUE WAS € NIL FOR 2017 COMPARED TO € 83 THOUSAND FOR 2016

* FY LOSS FROM OPERATIONS 4.7 MILLION EUROS VS LOSS 8.6 MILLION EUROS

* NET LOSS – ATTRIBUTABLE TO OWNERS OF CO 5.4 MILLION EUROS VS LOSS 10.7 MILLION EUROS

* SAYS TO CONDUCT ALL CLINICAL TRIALS THAT IT WOULD LIKE TO EXECUTE IN COMING THREE YEARS, WILL NEED SIGNIFICANT ADDITIONAL FUNDS

* SAYS MANAGEMENT IS PURSUING VARIOUS FINANCING ALTERNATIVES TO MEET THE GROUP’S FUTURE CASH REQUIREMENTS

* SAYS ALTERNATIVES INCLUDE SEEKING ADDITIONAL INVESTORS, PURSUING INDUSTRIAL PARTNERSHIPS, OR OBTAINING FURTHER FUNDING FROM EXISTING INVESTORS THROUGH ADDITIONAL FUNDING ROUNDS, PURSUING MERGER OR ACQUISITION

* BASED ON OPTIONS AVAILABLE, MANAGEMENT IS CONFIDENT TO BE ABLE TO RAISE ADDITIONAL CAPITAL, PREFERABLY IN FORM OF EQUITY

* NO FINANCING COMMITMENTS WERE RECEIVED BY THE COMPANY AS OF TODAY

Source text: bit.ly/2w2aPLp

Further company coverage: (Gdynia Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below