Brief: Epigenomics Q2 net loss widens to 4.1 million euros

Epigenomics AG

09/08/2017 07:45

Aug 9 (Reuters) - EPIGENOMICS AG  ECXn.DE : 
    * ANNOUNCES 2017 SECOND QUARTER AND SIX MONTHS FINANCIAL 
RESULTS 
    * TOTAL Q2 2017 REVENUE DECREASED TO EUR 0.2 MILLION (Q2 
2016: EUR 1.3 MILLION) 
    * EBITDA IN Q2 2017 WAS AT EUR -3.4 MILLION (Q2 2016: EUR 
-3.5 MILLION) 
    * REIMBURSEMENT IN UNITED STATES IS A FOCUS OF COMPANY AS 
IT WILL HAVE GREATEST IMPACT UPON COMMERCIAL ADOPTION OF EPI 
PROCOLON 
    * NET LOSS AMOUNTED TO EUR 4.1 MILLION IN Q2 2017 COMPARED 
TO EUR 3.3 MILLION IN Q2 2016 
    * NOW EXPECTS REVENUE TO AMOUNT TO BETWEEN EUR 1.0 MILLION 
AND EUR 1.5 MILLION IN FISCAL YEAR 2017 (PREVIOUSLY: 
APPROXIMATELY EUR 2.5 MILLION). 
    * ADJUSTED EBITDA (EXCLUDING EXPENSES IN RELATION TO 
SHARE-BASED PAYMENTS) IS NOW EXPECTED TO RANGE BETWEEN EUR -12.5 
MILLION AND EUR -14.0 MILLION AT END OF YEAR 
    * NOW FACES UNCERTAIN SITUATION WITH RESPECT TO ITS 
LIQUIDITY; AVAILABLE LIQUID FUNDS AS OF JUNE 30, ARE ONLY 
EXPECTED TO LAST UNTIL Q1 2018 
    * PLANNED ISSUANCE OF CONVERTIBLE BONDS TO CATHAY FORTUNE 
WOULD PROVIDE ADDITIONAL CASH OF APPROX EUR 6.5 MILLION AND 
EXTEND CASH REACH TO Q3/2018  
 
Source text for Eikon:  ID:nEQb1qHkMa  
Further company coverage:  ECXn.DE  
 
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