• Half Year 2008 Results
EUR m 1H2008 1H2007
Sales 1.24 1.48
Hybrigenics Pharma 0.23 0.27
Hybrigenics Services 1.01 1.21
Other operating revenues 0.29 0.26
Total operating revenues 1.54 1.73
Operating costs 6.3 4.7
other purchases & external charges 3.4 2.3
Operating loss -4.8 -2.9
Net loss -3.9 -2.9
Sales from both Pharma and Services activities decreased by around 15 percent in the first half of 2008 as compared with the first half of 2007. The operating costs in the first half of 2008 (EUR 6.3 million) were 34 percent higher as compared with the first half of 2007 (EUR 4.7 million). This is the result of higher costs linked to the excellent progress that Hybrigenics has made in developing inecalcitol. After the successful conclusion of the Phase I study in healthy volunteers in 2007 the company is now enrolling patients faster than anticipated for the Phase II study of inecalcitol in hormone-refractory prostate cancer. Additional costs were also related to regulatory toxicology studies mandatory to support this clinical development.
Consequently, the company reports operating and net losses of EUR 4.8 and EUR 3.9 million, respectively, vs. EUR 2.9 million for both operating and net losses in the first half of 2007. Net cash on 30 June 2008 stood at EUR 3.5 million compared to EUR 5.3 million in 2007.
• Outstanding sales in Q3 2008 result in a 5 percent growth for the first 9 months
The sales performance in the 3rd quarter 2008 was outstanding with EUR 0.37 million for Pharma and EUR 0.86 million for Services vs., respectively, EUR 0.14 million and EUR 0.31 million in the 3rd quarter 2007. Total operating revenues amounted to EUR 2.85 million at the end of September 2008 vs. EUR 2.72 million for the same period of 2007 (+5 percent).
• Inecalcitol extremely well tolerated in patients
- Inecalcitol: patients currently on 600 micrograms per day oral dosage
Patients orally treated with 160 or 300 micrograms inecalcitol per day for 18 weeks showed excellent clinical tolerance and no calcium increase in either blood or urine. Enrolment at the 600 micrograms dose level has begun in September. To date, a total of 29 patients have been included by Hybrigenics since the start of this Phase II tolerance study. Inecalcitol, a vitamin D receptor agonist, is being developed for hormone-refractory prostate cancer in combination with Taxotere(R) (Sanofi-Aventis), the reference chemotherapy for this indication.
About Hybrigenics
Hybrigenics is a bio-pharmaceutical company focusing its internal R&D programs on innovative targets and therapies for the treatment of cancer. Hybrigenics' development program is based on inecalcitol, a vitamin D analogue, for the treatment of hormone-resistant prostate cancer in combination with Sanofi-Aventis' Taxotere(R), which is the current gold-standard chemotherapeutic treatment for this indication. Hybrigenics' research program explores the role of enzymes known as ubiquitin-specific proteases (USP) in the degradation of onco-proteins, and the effectiveness of proprietary USP inhibitors in treating various types of cancer.
Hybrigenics also offers a range of services to identify, validate and inhibit protein interactions to researchers in all areas of life sciences through its Hybrigenics Services unit, using its ISO 9001-certified high-throughput Yeast-Two Hybrid (Y2H) screening platform, its sophisticated bioinformatics tools and extensive database, along with its chemical library and chemical screening platform.
NewCap
. Financial communication
Axelle Vuillermet / Pierre Laurent
Tel. : +33 (0)1 44 71 94 94
hybrigenics@newcap.fr
