Brief: Bone Therapeutics FY Operating Loss Narrows To EUR 12.0 Million

Biosenic SA

29/04/2022 06:18

April 29 (Reuters) - Bone Therapeutics SA  BOTHE.BR :
    * ANNOUNCES 2021 FULL YEAR RESULTS
    * TOTAL REVENUES AND OPERATING INCOME FOR 2021 AMOUNTED TO
EUR 2.7
MILLION COMPARED TO EUR 3.7 MILLION IN 2020
    * FY OPERATING LOSS FOR PERIOD DECREASED TO EUR 12.0 MILLION
FROM
EUR 15.0 MILLION FOR FULL YEAR 2020
    * CASH USED FOR OPERATING ACTIVITIES AMOUNTED TO EUR 12.8
MILLION
FOR FULL YEAR 2021
    * YEAR-END CASH POSITION AMOUNT TO EUR 9.5 MILLION COMPARED
TO EUR
14.7 MILLION YEAR-END 2020
    * ANTICIPATES HAVING SUFFICIENT CASH TO CARRY OUT ITS
BUSINESS
OBJECTIVES INTO Q1 2023, ASSUMING, AMONGST OTHER, FULL ISSUANCE
OF NEW CONVERTIBLE BOND FACILITY
    * AS A RESULT OF INITIAL MITIGATION ACTIONS AND IMPROVING
RECRUITMENT RATE DUE TO GRADUAL LIFTING OF COVID-19 RELATED
MEASURES IN EUROPE, BONE THERAPEUTICS EXPECTS TO REPORT TOPLINE
RESULTS AS SCHEDULED BY Q1 OF 2023
    * NEGOTIATIONS FOR ALLOB ARE TAKING LONGER THAN ORIGINALLY
ANTICIPATED. POTENTIAL COMPLETION OF A FINAL BINDING AGREEMENT
HAS BEEN DELAYED INTO Q2 2022
    * OPERATING CASH BURN FOR FULL YEAR 2022 IS EXPECTED TO BE
IN
RANGE OF EUR 8-10 MILLION, ASSUMING NORMAL OPERATIONS AS EFFECT
OF ONGOING COVID-19 EPIDEMIC CANNOT BE EXCLUDED

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE9fgf88
Further company coverage:  BOTHE.BR 

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