Brief: Bone Therapeutics FY Net Loss Widens To 11.9 Mln

Biosenic SA

29/04/2021 11:25

April 29 (Reuters) - BONE THERAPEUTICS SA  BOTHE.BR :
    * FY OPERATING LOSS -15 MILLION EUR VERSUS -8.0 MILLION EUR
LOSS
YEAR AGO
    * RAISED TOTAL GROSS PROCEEDS OF €16.2 MILLION THROUGH THREE
FINANCIAL OPERATIONS IN THE SECOND AND FOURTH QUARTER WITH
CURRENT AND NEW INSTITUTIONAL INVESTORS BOTH IN EUROPE AND IN
THE US.
    * FY REVENUES AND OPERATING INCOME OF €3.7 MILLION
    * CASH USED FOR OPERATING ACTIVITIES AMOUNTED TO €16.3
MILLION FOR
THE FULL YEAR 2020 IN LINE WITH COMPANY'S GUIDANCE OF €15-16
MILLION
    * YEAR-END CASH POSITION OF €14.7 MILLION COMPARED TO €8.6
MILLION
YEAR-END 2019
    * FY21 OUTLOOK: BONE THERAPEUTICS AIMS TO REPORT TOPLINE
RESULTS
FOR 3-MONTH PRIMARY ENDPOINT AND 6-MONTH FOLLOW-UP PERIOD IN Q3
OF 2021 FOR ITS PIVOTAL PHASE III CLINICAL STUDY WITH IMPROVED
VISCOSUPPLEMENT, JTA-004
    * NET CASH BURN FOR THE FULL YEAR 2021 IS EXPECTED TO BE IN
THE
RANGE OF €16-17 MILLION
    * ANTICIPATES HAVING SUFFICIENT CASH TO CARRY OUT ITS
BUSINESS
OBJECTIVES INTO NOVEMBER 2021
    * TO HOLD DISCUSSIONS WITH POTENTIAL PARTNERS TO EXPLORE
BUSINESS
OPPORTUNITIES AS JTA-004 IS APPROACHING ANNOUNCEMENT OF PIVOTAL
PHASE III TOPLINE RESULTS
    * TO HOLD DISCUSSIONS WITH POTENTIAL PARTNERS TO EXPLORE
BUSINESS
OPPORTUNITIES AS ALLOB IS BEING EVALUATED IN A DOUBLE-BLIND,
PLACEBO-CONTROLLED, PROOF-OF-CONCEPT PHASE IIB STUDY
    * PLANS TO CONTINUE TO EXPAND ITS ALLOGENEIC DIFFERENTIATED
MSC
BASED CELL THERAPY PLATFORM, BEYOND ALLOB, INTO OTHER
THERAPEUTIC INDICATIONS
    * DISCIPLINED COST AND CASH MANAGEMENT WILL REMAIN A KEY
PRIORITY
    * FY NET LOSS EUR 11.9 MILLION VERSUS LOSS EUR 10.3 MILLION
YEAR
AGO

Source text for Eikon:  ID:nNDL1K9CQq 
Further company coverage:  BOTHE.BR 

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