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Sygnis published its financial results for the first quarter of 2009/2010

SYGNIS Pharma AG published its financial results for the first quarter of the fiscal year 2009/2010, which ended on 30 June 2009.

  • Cash including marketable securities amounted to €19.4 million (€15.2 million Q1 08/09). Long term financial liabilities amounted to €8.0 million resulting from a loan which is not due for repayment before 2015.
  • As a result of expanded research & development activities, total operating expenses increased by €0.6 million to €2.5 million at the end of June 2009 compared to the same period of the last fiscal year.
  • The net loss in the first quarter was lower than anticipated and amounted to € -2.3 million (€ -1.7 million Q1 08/09).

Operational Highlights

Premises Sygnis Pharma AG © Sygnis

Dr. Alfred Bach, CEO of SYGNIS Pharma, said: "Our research and development programs remain fully on track. The phase II efficacy study for AX200 in ischemic stroke has been started as scheduled and continues as planned. In addition, we have continued to make good progress in our preclinical research projects especially with regard to KIBRA. The increase of operational expenses is in line with our planning and reflects the intensified research and development activities of the Company. We are strongly focusing the expenditures on our key value-driving research and development projects and will manage our cash resources efficiently to reach the next major milestones of these projects."

Key financial figures for the first quarter of fiscal year 2009/2010 ended on June 30, 2009 and corresponding figures (IFRS)

Numbers in million eurosQ1 2009/2010Q1 2008/2009
Revenue0,00,1
Total costs2,51,9
EBIT-2,4-1,8
Result of the period-2,3-1,7
Intangible assets22,222,5
Liquidity at end of quarter19,415,2
Equity
(equity ratio in %)
34,1
(72)
29,0
(68)
Long-term financial liabilities8,08,0
Operational Cash Flow-3,0-1,2
Website address: https://www.gesundheitsindustrie-bw.de/en/article/press-release/sygnis-published-its-financial-results-for-the-first-quarter-of-2009-2010