GHENT, BELGIUM--(Marketwire - November 18, 2010) -
REGULATED INFORMATION
GHENT, Belgium, 18 November 2010 - Ablynx [Euronext Brussels: ABLX] today provides its non-audited business update in compliance with the EU transparency directive. This report summarizes material events and Ablynx’s financial position for the third quarter of 2010. It has been approved by the Board of Directors.
Q3 2010 Highlights
* Initiated an open-label, randomized Phase II study for patients with thrombotic thrombocytopenic purpura (TTP), in Europe and North America, with its anti-von Willebrand factor (vWF) Nanobody® (ALX-0081/ALX-0681) * Progressed the Phase II trial for its anti-vWF programme (ALX-0081) in patients with acute coronary syndrome (ACS) undergoing percutaneous coronary intervention (PCI) * Pfizer completed recruitment for its lead anti-TNF-alpha Nanobody, ATN-103, currently in a Phase II study in patients with rheumatoid arthritis (RA) * Reported positive safety data for its ongoing Phase I study with ALX-0141, a Nanobody targeting Receptor Activator of Nuclear Factor kappa B Ligand (RANKL) which plays a key role in bone remodeling * Received a EUR3.0 million milestone payment as part of its strategic alliance with Boehringer Ingelheim * Received EUR1.0 million from Novartis for licenses to further develop and commercialize Nanobodies against two complex targets * Received a Notice of Allowance from the US Patent and Trademark office for its patent application protecting the composition of matter of its programmes targeting vWF (ALX-0081 and ALX-0681) * Revenues were EUR17 million for the period January-September * EUR109.5 million in cash, cash equivalents and restricted cash at 30 September 2010
Nine Months 2010 Financial Update
Revenues for the first nine months were EUR17 million (2009: EUR21.9 million). Expenses increased by 5% to EUR39.5 million (2009: EUR37.5 million). This resulted in a net loss for the first nine months of EUR21.5 million (2009: EUR13.5 million). The Company’s cash, cash equivalents and restricted cash were EUR109.5 million at 30 September 2010 (2009: EUR93.7million).
[HUG#1463557]
Complete version of the press release: http://hugin.info/137912/R/1463557/402263.pdf
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Source: Ablynx via Thomson Reuters ONE
For more information, please contact Ablynx:
Dr. Edwin Moses
Chairman and CEO
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 / +32 (0)473 39 50 68
e: Email Contact
Wim Ottevaere
Chief Financial Officer
t: +32 (0)9 262 00 11
e: Email Contact
Marieke Vermeersch
Investor Relations Manager
t: +32 (0)9 262 00 82
m: +32 (0) 479 49 06 03
e: Email Contact
