Heidelberg, November 10, 2009 – SYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard) today published its financial results for the second quarter and the first half of the fiscal year 2009/2010, which ended on 30 September 2009.
With the SEDA closed with Yorkville in October, SYGNIS secured up to € 10 million, which SYGNIS has the right to request from Yorkville within the next 3 years.The phase II efficacy study of SYGNIS’ lead compound AX200 is being advanced and the development of the preclinical projects, in particular regarding KIBRA and the neural stem cell program (NSD), is proceeding during the first half of the fiscal year as planned. SYGNIS is confident that, based on the results achieved so far, the anticipated milestones and project goals will be fulfilled providing a sound basis for further discussions on potential cooperation and licensing opportunities.
With the current financial situation and with regard to the recent commitment from Yorkville to invest up to € 10 million, SYGNIS has a good financial basis for its focused development. For the ongoing fiscal year 2009/2010 SYGNIS expects operational costs and net loss to be lower than originally anticipated. The net loss for the fiscal year 2009/2010 is expected to be within the original expectations due to the recognition of unrealized exchange rate losses of available-for-sale securities through profit or loss.
More information:SYGNIS Pharma AGDr. Franz-Werner HaasVice President OperationsPhone: +49 (0) 6221 454 812E-mail: franz-werner.haas(at)sygnis.de