Brief: Medigene FY Results Of Operations At EUR 9.8 Mln

Medigene AG

26/03/2020 06:45

March 26 (Reuters) - MEDIGENE AG  MDG1k.DE :
    * BY END OF 2020, EXPECTS TO COMPLETE DOSING OF FIRST THREE
DOSE
COHORTS IN DOSE-ESCALATION PART OF PHASE I/II TRIAL OF MDG1011
IN ACUTE MYELOID LEUKEMIA (AML), MYELODYSPLASTIC SYNDROME (MDS)
AND MULTIPLE MYELOMA (MM).
    * PLANS TO INITIATE PHASE I STUDY OF MDG1021 IN PATIENTS
WITH
RELAPSED OR PERSISTENT HEMATOLOGIC MALIGNANCIES AFTER ALLO-HSCT
IN FIRST HALF OF 2020.
    * IN PREPARATION OF FINANCIAL FORECAST 2020 COMPANY HAS
ASSUMED
THAT THERE WILL BE NO SIGNIFICANT EVENTS WHICH COULD HAVE A
MATERIAL INFLUENCE OR LASTING EFFECT ON OPERATIONS OF GROUP SUCH
AS FORCE MAJEURE
    * EXPECTS NO MATERIAL INFLUENCE OF RECENT OUTBREAK OF
CORONAVIRUS
ON TOTAL REVENUE, RESEARCH AND DEVELOPMENT EXPENSES AND LOSS AT
EBITDA LEVEL
    * OUTLOOK 2020: ASSUMES THAT THERE WILL BE NO SIGNIFICANT
EVENTS
WHICH COULD HAVE A MATERIAL INFLUENCE OR LASTING EFFECT ON
OPERATIONS OF GROUP
    * OUTLOOK 2020:  EXPECTS REVENUE OF BETWEEN EUR7.0 - 9.0
MILLION
IN 2020
    * OUTLOOK 2020: EXPECTS A SIGNIFICANT INCREASE OF RESEARCH
AND
DEVELOPMENT COSTS TO EUR29 - 34 MLN (2019: EUR22.6 MLN)
    * OUTLOOK 2020: EXPECTS A LOSS AT EBITDA LEVEL OF EUR24 - 32
MLN
(2019: EUR17.8 MLN)
    * HAS SUFFICIENT FINANCIAL RESOURCES TO FUND BUSINESS
OPERATIONS
INTO SECOND HALF OF 2021
    * FY EBITDA LOSS GENERATED BY THE COMPANY HAS BEEN REDUCED
BY 15%
TO €17.8 MILLION (2018 ADJUSTED: €20.9 MILLION)
    * FY RESULTS OF OPERATIONS AT EUR 9.8 MILLION
    * WILL NOT DISTRIBUTE A DIVIDEND

Source text for Eikon:  ID:nPex1tTtQa 
Further company coverage:  MDG1k.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;;))