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Regeneus (RGS.AX) Quarterly Report



7/26/2017 11:16:25 AM

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Sydney, July 26, 2017 AEST (ABN Newswire) - Regeneus Ltd (ASX:RGS) provides the Company's Quarterly results for the period ended 30 June 2017.

The highlights for the quarterly reporting period include:

- On 30 June, Regeneus received a milestone payment of US$1 million from AGO for meeting the primary endpoints of its Phase 1 safety trial of Progenza in patients with knee osteoarthritis. Regeneus reported on the positive results of the trial on 22 May 2017. Licence fees received from AGC during the financial year are in total US$6.5 million (A$8.9 million).

- Cash outflow for the quarter was $0.75 million. Cash outflow from operating activities, after allowing for the receipt of the Japanese licence fee net of associated cost, was $2.0 million, an increase of 10% over the prior quarter driven by the increase of R&D expenditure particularly in projects associated with Progenza and the development of other strategic assets including RGSH4K and Sygenus.

Cash position at 30 June 2017 is $4.1 million (30 June 2016 was $0.53 million).

The sources of funding for the company over the next 18 months include: the R&D tax incentive for FY' 17 (forecast >$2.2m) and FY' 18; potential licensing and milestone payments for Progenza; and shareholder loan repayments relating to the funding of employee options exercised as part of the IPO in 2013. These sources of cash should ensure that the company has sufficient funding to support its R&D, clinical trials and operating activities for FY'18 and into FY'19.

Further licensing opportunities will provide additional funding for incremental activities.

To view the Appendix AC - Quarterly Cash Flows Statement, please visit:
http://abnnewswire.net/lnk/0ZB7T344


About Regeneus Ltd

Regeneus Ltd ASX:RGSRegeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell and immuno-oncology technologies to develop a portfolio of innovative cell-based therapies to address significant unmet medical needs in the human and animal health markets with a focus on osteoarthritis and other musculoskeletal disorders, oncology and dermatology.


Read at BioSpace.com


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