Brief: Paion FY Revenues At EUR 8.0 Mln

PAION AG

26/03/2020 06:37

March 26 (Reuters) - PAION AG  PA8G.DE :
    * FY REVENUES RECOGNIZED IN REPORTING PERIOD AMOUNTED TO EUR
8.0
MILLION
    * CLOSES FISCAL YEAR 2019 WITH A NET LOSS OF EUR 7.0 MILLION
COMPARED TO A NET LOSS OF EUR 9.9 MILLION IN PREVIOUS YEAR
    * PAION EXPECTS REVENUES OF ABOUT EUR 20 MILLION IN 2020,
THEREOF
EUR 15 MILLION FROM COSMO FOR MARKET APPROVAL OF REMIMAZOLAM IN
U.S.
    * 2020 RESEARCH AND DEVELOPMENT EXPENSES ARE EXPECTED TO BE
BETWEEN APPROX. EUR 10 MILLION AND APPROX. EUR 12 MILLION
    * 2020 INCOME FROM TAX CREDITS ON PARTS OF RESEARCH AND
DEVELOPMENT EXPENSES FROM BRITISH TAX AUTHORITIES IS NOT
EXPECTED OR ONLY EXPECTED IN A SMALL AMOUNT OF UP TO EUR 0.5
MILLION
    * IN CASE OF DELAYS, ESSENTIAL COST BLOCKS AND/OR REVENUES
WOULD
SHIFT INTO 2021 OR SUBSEQUENT PERIODS
    * POTENTIAL EFFECTS OF CORONAVIRUS PANDEMIC ON OUR BUSINESS
AND
BUSINESS OF OUR PARTNERS COULD LEAD TO DELAYS AND A SHIFT OF
REVENUES AND/OR COSTS
    * CASH AND CASH EQUIVALENTS AT HAND AND EXPECTED PAYMENTS
FROM
MILESTONES AND ROYALTIES SECURE A LIQUIDITY RUNWAY INTO SECOND
HALF OF 2021
    * ADDITIONAL FUNDS COULD BE REQUIRED FOR A POTENTIAL OWN
COMMERCIALIZATION OF REMIMAZOLAM IN SELECTED EUROPEAN MARKETS

Source text for Eikon:  ID:nEQ7jn396a 
Further company coverage:  PA8G.DE 

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