Heidelberg Pharma AG Announces Adjustment of Guidance
Ladenburg, Germany, 2 October 2019 - Heidelberg Pharma AG (FSE: WL6) today announced that it has adjusted its guidance for the current fiscal year published in March 2019. This is due to additional sales resulting from the supply of Amanitin material to the partners (supply model), as well as additional income from research collaborations.
The Heidelberg Pharma Group expects to generate between EUR 7.5 million and EUR 8.5 million (previously: EUR 5.0 million to EUR 7.0 million) in sales and other income for the financial year 2019. Operating expenses are expected to range between EUR 15.5 million and EUR 17.5 million (previously: EUR 14.0 million to EUR 18.0 million). Based on these adjustments, an operating result (EBIT) between EUR -7.5 million and EUR -9.5 million is expected (previously: EUR -8.0 million to EUR -12.0 million).
For 2019, Heidelberg Pharma anticipates cash requirements of EUR 8.0 million to EUR 10.0 million (previously: EUR 10.0 million to EUR 14.0 million). Monthly cash consumption is expected to range between EUR 0.7 million and EUR 0.9 million per month (previously: EUR 0.9 million and EUR 1.2 million). Based on the updated planning, the company's financing is still secured until mid-2020.
The Interim Management Statement on the first nine months of 2019 will be published as planned on 10 October 2019.
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About Heidelberg Pharma
Heidelberg Pharma AG is a biopharmaceutical company based in Ladenburg, Germany. Heidelberg Pharma is an oncology specialist and the first company to develop the toxin Amanitin into cancer therapies using its proprietary Antibody Targeted Amanitin Conjugate (ATAC) technology and to advance the biological mode of action of the toxin as a novel therapeutic principle. This proprietary technology platform is being applied to develop the Company's proprietary therapeutic ATACs as well as in third-party collaborations to create a variety of ATAC candidates. The proprietary lead candidate HDP-101 is a BCMA ATAC for multiple myeloma.
The Company has entered into partnerships to further develop and commercialize its clinical assets MESUPRON(R) and REDECTANE(R).. Heidelberg Pharma AG is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol WL6. More information is available at www.heidelberg-pharma.com.
This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "will" "should" "future", "potential" or similar expressions or by a general discussion of the Company's strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial condition, performance, or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.
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Heidelberg Pharma AG
Schriesheimer Str. 101
+49 (0)89 41 31 38 - 0
+49 (0)89 41 31 38 - 99
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
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