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Heidelberg (ots) - The operative development of SYGNIS Pharma AG
continues running on schedule in the third quarter of the current
fiscal year 2006/2007. The company which is focusing on the
development of drugs and treatments for diseases of the central
nervous system (CNS) expects in the first 6 months of 2007 the
successful completion of the clinical phase 2a regarding its product
AX200 for the treatment of stroke.
SYGNIS Pharma AG, prior operating under the name LION bioscience
AG, which acquired the entire operative business of the
BASF-subsidiary Axaron Bioscience AG, reports in its consolidated
accounts for the first nine months of the current fiscal year
2006/2007 revenues of about Euro 0.1 m as well a loss in the net
results of Euro -2.9 m. The third quarter of the current fiscal year
reported a negative result of about Euro 2,5 m. Apart from the
expenses relating to the company's current drug-development
activities, this loss is strongly affected by one-time effects
relating to the acquisition, which has been finalized on September
28, 2006. On the basis of IFRS 3 the company executed a preliminary
purchase prize allocation with regard to all acquired assets and
debts.
As of December 31, 2007 cash and cash equivalents (including
marketable securities) are totaling to about Euro 28.8 m. LION
bioscience AG started the current fiscal year with a liquidity of
Euro 23.4 m.
The Management Board anticipates a continuous development of the
fourth quarter according to the plan.
For the interim report regarding the first nine month of fiscal
year 2006/2007, please visit www.sygnis.de.
Except for the historical information contained herein, the
matters set forth in this press release are forward looking. These
forward-looking statements may include projections, assumptions,
estimates, targets, and descriptions of future events. Such
statements are based on currently available information and on
SYGNIS' current expectations as to future events that may not prove
to be accurate. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to
predict. Many factors could cause the actual results, performance or
achievements of SYGNIS to be materially different from those that may
be projected, expected, targeted, expressed or implied by such
statements. All roll-out plans and future dates with respect to
completion of development and market release of SYGNIS products are
target dates only based on the company's current planning and may
change in the future. Any delays in the current product release
schedule will have a materially adverse effect on the company's
targets for fiscal year.
Originaltext: SYGNIS Pharma AG
digital press kits: http://presseportal.de/story.htx?firmaid=65063
press kits via RSS: feed://presseportal.de/rss/pm_65063.rss2
ISIN: DE0005043509
Contact:
Dr. Franz-Werner Haas
Vice President Operations
+49 (0) 6221 454 812
Franz-Werner.Haas@sygnis.de
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