A presentation of the results by the Company’s senior management team will take place today at 10.00 am CET in Oslo - details below.
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| [13-February-2018] |
| BERGEN, Norway, Feb. 13, 2018 /PRNewswire/ -- BerGenBio (OSE: BGBIO), a clinical-stage biopharmaceutical company developing novel, selective AXL kinase inhibitors for multiple cancer indications, announces its results for the fourth quarter and full year 2017. A presentation of the results by the Company’s senior management team will take place today at 10.00 am CET in Oslo - details below. Richard Godfrey, Chief Executive Officer of BerGenBio, commented: “BerGenBio has made solid progress during 2017 and achieved all of the milestones we outlined at the time of our IPO in April. We have advanced, as planned, our clinical development strategy for bemcentinib, the recently accepted generic name for our lead candidate BGB324, such that it is now being evaluated in six Phase II clinical studies in multiple cancer indications. These trials are designed to deliver initial proof-of-concept of bemcentinib’s potential as a future cornerstone of cancer therapy in combination with immuno-oncology drugs, chemo- and targeted therapy. Initial clinical data presented during the year continue to give us confidence that bemcentinib is a very exciting drug candidate with broad application across many types of cancer, and in combination with existing and emerging modalities of cancer treatment. We will continue to drive these trials towards interim read outs in mid-2018 and look forward to an exciting year ahead.” Q4'17 highlights
FY'17 highlights
Post FY events
Financial Summary Q42017 Q42016 FY2017 Key Figures (NOK million) FY2016 - Operating revenues - - - Operating expenses 47.5 28.0 183.7 131.6 Operating profit (loss) (47.5) (28.0) (183.7) (131.6) Profit (loss) after tax (47.6) (27.9) (182.2) (129.8) Basic and diluted earnings (loss) per share (NOK) (0.96) (82.81) (4.01) (419.68) Net cash flow in the period (28.8) (25.4) 208.5 87.8 Cash position end of period 370.3 161.8 370.3 161.8
Presentation and Webcast Details A presentation by BerGenBio’s senior management team will take place at 10.00 am CET at: Felix Konferansesenter, Bryggetorget 3, 0125 Oslo The presentation will webcast live and the link will be available at www.bergenbio.com in the section Investors/Reports and presentations/Webcasts. A recording will be available shortly after the webcast has finished. The results report and the presentation will be available at www.bergenbio.com in the section: Investors/Reports and presentations from 7:00 am CET the same day. About BerGenBio ASA BerGenBio ASA is a clinical-stage biopharmaceutical company focused on developing a pipeline of first-in-class AXL kinase inhibitors as a potential cornerstone of combination cancer therapy. The Company is a world leader in understanding the essential role of AXL kinase in mediating cancer spread, immune evasion and drug resistance in multiple aggressive solid and haematological cancers. BerGenBio’s lead product, bemcentinib (BGB324), is a selective, potent and orally bio-available small molecule AXL inhibitor in four Company sponsored Phase II clinical trials in major cancer indications, with read-outs anticipated during 2018. It is the only selective AXL inhibitor in clinical development. The Company sponsored clinical trials are:
The clinical trials combining bemcentinib with KEYTRUDA in adenocarcinoma of the lung and TNBC are conducted in collaboration with Merck & Co., Inc. (Kenilworth, NJ, USA), through a subsidiary. In addition, a number of investigator-sponsored trials are underway, including a trial to investigate bemcentinib with either MEKINIST® (trametinib) plus TAFINLAR® (dabrafenib) or KEYTRUDA in advanced melanoma, as well as a trial combining bemcentinib with docetaxel in advanced NSCLC. BerGenBio is simultaneously developing a companion diagnostic test to identify patient subpopulations most likely to benefit from treatment with bemcentinib. This will facilitate more efficient registration trials and support a precision medicine based commercialization strategy. The Company is also developing a diversified pre-clinical pipeline of drug candidates, including BGB149, an anti-AXL monoclonal antibody. For further information, please visit: www.bergenbio.com KEYTRUDA® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Kenilworth, NJ, USA, TARCEVA® is a registered trademark of OSI Pharmaceuticals, LLC., marketed by Roche-Genentech. TAFLINAR® is a registered trademark of Novartis International AG and MEKINIST® is a registered trademark of GSK plc. Contacts Richard Godfrey Tom Henrik Sundby Media Relations David Dible, Mark Swallow, Marine Perrier Forward looking statements This announcement may contain forward-looking statements, which as such are not historical facts, but are based upon various assumptions, many of which are based, in turn, upon further assumptions. These assumptions are inherently subject to significant known and unknown risks, uncertainties and other important factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This information was brought to you by Cision http://news.cision.com The following files are available for download: http://mb.cision.com/Main/15728/2451190/791116.pdf PDF http://news.cision.com/bergenbio-asa/i/bemcentinib,c2342741 Bemcentinib http://news.cision.com/bergenbio-asa/i/richard-godfrey,c2342742 Richard Godfrey http://mb.cision.com/Public/15728/2451190/bf260eb20fc577c6.pdf BerGenBio Q4 results presentation http://mb.cision.com/Public/15728/2451190/8b2500b373d5627e.pdf Q42017 Financial Report
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Company Codes: Bloomberg:BGBIO@NO, ISIN:NO0010650013, Oslo:BGBIO, RICS:BGBIO.OL |
