Brief: Santhera FY Net Loss Of CHF 71.2 Mln

Santhera Pharmaceuticals Holding AG

16/02/2021 06:09

Feb 16 (Reuters) - SANTHERA PHARMACEUTICALS HOLDING AG
 SANN.S :
    * ANNOUNCES CORPORATE UPDATE AND PROPOSAL TO STRENGTHEN
CAPITAL
STRUCTURE
    * PIVOTAL 6-MONTH DATA READOUT FOR VAMOROLONE IN DUCHENNE
MUSCULAR
DYSTROPHY (DMD) EXPECTED IN Q2 OF 2021
    * PRELIMINARY UNAUDITED RESULT FOR 2020: NET SALES CHF 15.0
MILLION; NET LOSS CHF 71.2 MILLION; CASH ON HAND AS OF DECEMBER
31, 2020, CHF 12.4 MILLION
    * PROPOSED CONVERTIBLE BOND RESTRUCTURING SUPPORTED BY ITS
LARGEST
CONVERTIBLE BONDHOLDER REPRESENTING APPROX. 32% OF TOTAL BONDS
OUTSTANDING
    * WILL CALL BONDHOLDER MEETING FOR MARCH 8, 2021, FOLLOWED
BY
EXTRAORDINARY GENERAL MEETING IN MARCH 2021
    * WORKFORCE REDUCTION AND OPERATING COST CUTTING PROGRAMS
ARE
CONTINUING AS PLANNED AND SCHEDULED TO BE COMPLETED BY END OF
MARCH 2021
    * FORECASTS SANTHERA'S OPERATIONAL CASH BURN RATE TO BE
AROUND CHF
2.5 MILLION PER MONTH OVER COMING FEW MONTHS

Source text for Eikon:  ID:nGNE4hGBZJ 
Further company coverage:  SANN.S 

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