Brief: Asit Biotech End-2018 Cash Position Of EUR 8.5 Million

European Medical Solutions SA

02/04/2019 06:07

April 2 (Reuters) - ASIT BIOTECH SA  ASIT.BR :
    * ASIT BIOTECH PROVIDES CLINICAL UPDATE AND PUBLISHES ITS 2018 FULL-YEAR RESULTS
    * PLANNED PRIVATE PLACEMENT OF CONVERTIBLE NOTES PROVIDING CASH RUNWAY UNTIL Q3 2020
    * FY NET LOSS EUR 14.3 MILLION VERSUS LOSS OF EUR 12.0 MILLION YEAR AGO
    * PHASE III STUDY CONDUCTED IN EUROPE IN ADULTS IS ONGOING, WITH TOP LINE RESULTS EXPECTED
BY END
2019
    * END OF 2018, ASIT BIOTECH PRESENTED A CASH POSITION OF EUR 8.5 MILLION
    * FY OPERATING LOSS EUR 12.8 MILLION VERSUS LOSS OF EUR 12.0 MILLION YEAR AGO
    * PLANNED PRIVATE PLACEMENT OF NEW CONVERTIBLE NOTES FOR TOTAL AMOUNT OF EUR 9 TO 12
MILLION, AS
DISCLOSED IN FEBRUARY, WILL COVER CASH NEEDS UNTIL END OF Q3 2020.
    * COMPANY INTENDS TO INITIATE A FOLLOW-UP STUDY WITH GP-ASIT+™ IN Q2 2019.
    * FY NO REVENUE VERSUS NO REVENUE YEAR AGO
    * BOARD OF DIRECTORS CONFIRMED THAT ACTIVITIES OF ASIT BIOTECH ARE COVERED UNTIL END OF Q3
2019
    * PRECLINICAL PACKAGES OF BOTH DRUG CANDIDATES WILL BE COMPLETED BY MID-2019,

Source text for Eikon:  ID:nBw5bDm36a 
Further company coverage:  ASIT.BR 

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