Brief: Bone Therapeutics H1 Operating Loss Narrows To EUR 5.72 Mln

Biosenic SA

08/09/2021 08:16

Sept 8 (Reuters) - BONE THERAPEUTICS SA  BOTHE.BR :
    * BONE THERAPEUTICS REPORTS HALF YEAR 2021 RESULTS
    * AFTER 1H 2021, IN JULY 2021, BONE THERAPEUTICS SECURED A
LOAN
AGREEMENT OF UP TO EUR 16.0 MILLION WITH EUROPEAN INVESTMENT
BANK (EIB)
    * STRENGTHENS FINANCIAL POSITION WITH THE RELEASE OF THE
FIRST
TRANCHE OF EUR 8.0 MILLION AS PART OF  THE FINANCING AGREEMENT
WITH EIB
    * H1 OPERATING LOSS FOR PERIOD AMOUNTED TO EUR 5.72 MILLION,
COMPARED TO EUR 7.38 MILLION IN H1 2020
    * CONCENTRATING FOCUS ON THE CONTINUED DEVELOPMENT AND
EXPANSION
OF THE MESENCHYMAL STROMAL CELL BASED  ALLOGENEIC CELL AND GENE
THERAPY PLATFORM
    * DURING FIRST SIX MONTHS OF 2021, TOTAL OPERATING INCOME
AMOUNTED
TO EUR 0.77 MILLION, A SLIGHT INCREASE COMPARED TO SAME PERIOD
IN 2021 (EUR 0.73 MILLION)
    * ALLOB: CONTINUES TO EXPECT PATIENT RECRUITMENT TO BE
COMPLETED
BY END OF FIRST HALF OF 2022 AND TOPLINE RESULTS BY END OF 2022
    * SHOULD PANDEMIC CONTINUE, BONE THERAPEUTICS MAY HAVE TO
RE-EVALUATE THESE TIMELINES AND, IN THAT EVENTUALITY, WILL
COMMUNICATE AGAIN TO MARKET
    * NET CASH BURN FOR FULL YEAR 2021 IS EXPECTED TO BE IN
RANGE OF
EUR 16-18 MILLION
    * ANTICIPATES HAVING SUFFICIENT CASH TO CARRY OUT ITS
BUSINESS
OBJECTIVES INTO Q2 2022
    * IS CURRENTLY EVALUATING AND WORKING ON DIFFERENT FINANCING
OPTIONS AND PLANS TO RAISE NEW FUNDS WITH EXISTING AND NEW
INVESTORS AS WELL AS WITH STRATEGIC PARTNERS
    * ENDED FIRST SIX MONTHS OF 2021 WITH EUR 6.01 MILLION IN
CASH AND
CASH EQUIVALENTS
    * FOR ONGOING PHASE IIB ALLOB CLINICAL STUDY : CONTINUES TO
EXPECT
PATIENT RECRUITMENT TO BE COMPLETED BY THE END OF FIRST HALF OF
2022 AND TOPLINE  RESULTS BY THE END OF 2022
    * BONE THERAPEUTICS WILL CONTINUE TO EXPAND ITS ALLOGENEIC
DIFFERENTIATED MSC BASED CELL THERAPY PLATFORM, BEYOND  ALLOB,
INTO OTHER THERAPEUTIC INDICATIONS
    * WILL CONTINUE ITS DISCUSSIONS WITH THE US FDA (FOOD AND
DRUG
ADMINISTRATION) IN PREPARATION FOR  THE NEXT STEPS IN THE
CLINICAL DEVELOPMENT OF ALLOB IN THE US

Source text for Eikon:  ID:nGNE6lB4dD 
Further company coverage:  BOTHE.BR 

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