Brief: Medigene Decides On Measures To Reduce Cash Burn And Secure Financing Into Q3 2022

Medigene AG

22/09/2020 16:19

Sept 22 (Reuters) - MEDIGENE AG  MDG1k.DE :
    * RESOLVED TODAY WITH APPROVAL OF SUPERVISORY BOARD ON
MEASURES TO
REDUCE CASH BURN AND SECURE COMPANY'S FINANCING INTO Q3 2022
    * COST-SAVING MEASURES AND A REDUCTION OF NUMBER OF
EMPLOYEES BY
APPROX. 25% COMPARED TO HEADCOUNT PUBLISHED WITH HALF-YEAR
RESULTS 2020
    * EXPECTS ONE-TIME EXPENSES IN AMOUNT OF APPROXIMATELY EUR1
M,
WHICH WILL BE INCURRED IN FISCAL YEARS 2020 AND 2021
    * GUIDANCE FOR 2020 REGARDING TOTAL REVENUES REMAINS
UNCHANGED AT
EUR7-9 MILLION
    * GUIDANCE FOR ANTICIPATED EBITDA LOSS IMPROVES TO RANGE OF
EUR17-24 MILLION (PREVIOUSLY EBITDA LOSS OF EUR19-27 MILLION)
    * GUIDANCE 2020 FOR RESEARCH AND DEVELOPMENT EXPENSES IS
REDUCED
TO RANGE OF EUR22-26 MILLION (PREVIOUSLY EUR24-29 MILLION)

Source text for Eikon:  ID:nPexWqV6va 
Further company coverage:  MDG1k.DE 

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