Brief: Paion H1 net loss widens to 13.2 million euros

PAION AG

10/08/2016 06:31

Aug 10 (Reuters) - Paion AG  PA8G.DE : 
    * In first half of 2016, revenues were 0.2 million euros  
($222,980.00) 
    * Expects revenues of approx. 4 million euros in 2016, which 
is portion of 10 million euros upfront payment received from 
Cosmo that will be recognized as revenues in 2016 
    * Expects research and development expenses to be between 24 
million euros and 27 million euros depending on progress of 
development for FY 
    * Net loss was 13.2 million euros for first half-year 2016 
compared to a loss of 11.3 million euros for prior-year period 
    * Net loss is expected to be between 21.5 million euros and 
24 million euros, a decrease compared to previous year (2015: 
28.2 million euros) for FY 
 
Source text for Eikon:  ID:nEQmPVN3a  
Further company coverage:  PA8G.DE  
 
($1 = 0.8969 euros) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))