LEUVEN, Belgium, November 6 /PRNewswire-FirstCall/ -- ThromboGenics NV (Euronext Brussels: THR), a biotechnology company focused on innovative treatments for eye disease, vascular disease and cancer, is today issuing a business update for the nine months period ended 30 September 2008.
Patrik De Haes, CEO of ThromboGenics, commenting on today's
announcement, said: "ThromboGenics' clinical development programs continue
to progress as anticipated. We are now working hard to prepare for the
Phase III clinical program for microplasmin in eye disease following a
successful End of Phase II Meeting with the FDA. The recent positive
results from our Phase II trials with microplasmin have given us further
confidence that this product has the potential to make a real difference in
the field of eye disease. We are also developing a good working
relationship with our strategic partner Roche as the clinical development
of our new anti-cancer antibody TB-403 continues to progress. With our
solid financial situation, I believe that ThromboGenics will deliver
further important corporate milestones over the next 12 to 18 months as we
continue to work to build value for our shareholders."
- In the first nine months of 2008, ThromboGenics achieved
revenues of EUR 30.3 million, mainly from out-licensing activities.
Operating expenses were EUR 17.0 million during this nine month period,
the majority of which were due to R&D expenses related to an increasing
number of clinical development programs.
- As of 30 September 2008, ThromboGenics had EUR 60.9 million
in cash and cash equivalents. This compares to EUR 50.6 million on 30
September 2007 and EUR 40.1 million on 31 December 2007. ThromboGenics
believes that this level of funding will allow it to complete the Phase
III program for the initial indication for microplasmin in eye disease.
- In late July, ThromboG
|SOURCE ThromboGenics NV|
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