Brief: Heidelberg Pharma 9-Month Net Loss Widens To EUR 12.5 Million

Heidelberg Pharma AG

08/10/2020 06:16

Oct 8 (Reuters) - HEIDELBERG PHARMA AG  HPHA.DE :
    * 9M EPS LOSS 0.42 EUR VERSUS 0.20 EUR LOSS YEAR AGO
    * PRIVATE PLACEMENT WITH GROSS PROCEEDS OF EUR 14.4 MILLION
AND
FURTHER FINANCING COMMITMENT OF EUR 15 MILLION BY MAJORITY
SHAREHOLDER DIEVINI RECEIVED
    * MILESTONE PAYMENT RECEIVED FROM PARTNER MAGENTA IN
SEPTEMBER
    * 9M SALES REVENUE AND INCOME TOTALING EUR 8.3 MILLION
(PREVIOUS
YEAR: EUR 6.7 MILLION)
    * NET LOSS FOR FIRST NINE MONTHS OF FISCAL YEAR INCREASED TO
EUR
12.5 MILLION (PREVIOUS YEAR: EUR 5.6 MILLION)
    * FORECAST FOR CURRENT FINANCIAL YEAR ISSUED IN MID-MARCH
2020 WAS
ADJUSTED FOR HEIDELBERG PHARMA GROUP IN SEPTEMBER 2020
    * EXPECTS FY OPERATING EXPENSES BETWEEN EUR 26.0 MILLION AND
EUR
28.0 MILLION (PREVIOUSLY: EUR 20.0 MILLION TO EUR 24.0 MILLION)
    * SEES 2020 (EBIT) BETWEEN EUR -16.0 MILLION AND EUR -19.0
MILLION
IS EXPECTED (PREVIOUSLY: EUR -11.0 MILLION TO EUR -15.0 MILLION)
    * FY SALES AND OTHER INCOME WILL CONTINUE TO RANGE BETWEEN
EUR 9.0
MILLION AND EUR 10.0 MILLION (PREVIOUSLY: EUR 8.0 MILLION TO EUR
10.0 MILLION)
    * FOR 2020, HEIDELBERG PHARMA ANTICIPATES CASH REQUIREMENTS
OF EUR
18.0 MILLION TO EUR 20.0 MILLION (PREVIOUSLY: EUR 11.0 MILLION
TO EUR 15.0 MILLION)
    * FY MONTHLY CASH CONSUMPTION IS EXPECTED TO RANGE BETWEEN
EUR 1.5
MILLION AND EUR 1.7 MILLION PER MONTH (PREVIOUSLY: EUR 0.9
MILLION AND EUR 1.3 MILLION)
    * COMPANY'S FINANCING IS STILL SECURED UNTIL MID-2021
    * 9M OPERATING LOSS EUR 12.5 MILLION VERSUS LOSS EUR 5.6
MILLION
YEAR AGO

Source text for Eikon:  ID:nEQ7hP2DHa 
Further company coverage:  HPHA.DE 

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