Brief: Asit Biotech FY net loss widens to 12.3 million euros

European Medical Solutions SA

11/04/2017 17:37

April 11 (Reuters) - Asit Biotech SA  ASIT.BR : 
    * Cash position at year end 2016 was 13.4 million euros  
($14.2 million) 
    * No FY revenue versus 4,000 euros year ago 
    * FY operating loss 12.3 million euros versus loss 7.6 
million euros year ago 
    * FY net loss 12.3 million euros versus loss 7.7 million 
euros year ago 
    * In 2017, intends to continue preclinical and clinical 
development of its drug candidates in accordance with planned 
timeline 
    * Obtained positive clinical phase III data with its 
GP-asit+ product candidate for grass pollen induced allergic 
Rhinitis 
    * Says GP-ASIT+ induced a 15 percent to 21 percent reduction 
in combined clinical symptom and medication score (CSMS), which 
is only slightly below originally defined 20 percent threshold 
    * Safety and tolerability profile for HDM-ASIT+ has been 
confirmed in a recent Phase I/IIa trial 
    * Received 6 million euros grant from Walloon government to 
support development program to design, develop and clinically 
test new product candidates targeting various food allergies 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nBwbFwFc1a 
Further company coverage:  ASIT.BR  
 
($1 = 0.9428 euros) 
 
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