Brief: Medincell FY Operating Loss Widens To 19.3 Million Euros

Medincell SA

04/06/2020 17:11

June 4 (Reuters) - Medincell SA  MEDCL.PA :
    * MEDINCELL ANNOUNCES FISCAL YEAR CONSOLIDATED RESULTS
    * AT MARCH 31 EUR 12.4 MILLION IN CASH AND CASH EQUIVALENTS
    * 3.6 MEUR OF RISK-FREE FINANCIAL ASSETS (0.4 MEUR CURRENT +
3.3
MEUR NON-CURRENT)
    * AT MARCH 31 EUR 10.9 MILLION OF ADDITIONAL NON-DILUTIVE
FINANCING (PGE) -POST-CLOSING
    * IN VITRO VALIDATION OF PROTECTIVE EFFECT OF IVERMECTIN ON
COVID-19 CELL STRAINS. RESULTS EXPECTED FOR 2020
    * EUR 3.1 MILLION OF CIR COLLECTED IN MAY 2020 - POST
CLOSING
    * EUR 5.0 MILLION TO BE RECEIVED FROM EIB UNDER CONDITIONS
    * OBJECTIVE IS TO BE ABLE TO CARRY OUT A PHASE 3 IN 2021 IN
EVENT
OF A REBOUND OF EPIDEMIC
    * AS OF MARCH 31, 2020, PORTFOLIO CONSISTED OF 3 PRODUCTS IN
CLINICAL DEVELOPMENT AND 8 PRODUCT CANDIDATES IN FORMULATION OR
PRECLINICAL PHASE
    * IN VITRO AND IN VIVO DEVELOPMENT AND VALIDATION OF 1-MONTH
AND
3-MONTH FORMULATIONS OF IVERMECTIN. FIRST CANDIDATE FORMULATIONS
COULD BE READY IN EARLY 2021 FOR REGULATORY DEVELOPMENT
    * LAUNCH OF A RESEARCH PROGRAM FOR COVID-19 PREVENTION
(PROPHYLAXIS)
    * FY REVENUE EUR 2.9 MILLION VERSUS EUR 1.4 MILLION YEAR AGO
    * FY OPERATING LOSS EUR 19.3 MILLION VERSUS LOSS OF EUR 15.5
MILLION YEAR AGO
    * FY NET LOSS EUR 23.9 MILLION VERSUS LOSS OF EUR 19.7
MILLION
YEAR AGO

Source text for Eikon:  ID:nBw8vV6Rra 
Further company coverage:  MEDCL.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))