Corrected: BRIEF-Valbiotis FY Net Loss Widens To EUR 8.7 Mln

Valbiotis SA

15/03/2022 18:21

(Corrects figure in headline)
    March 15 (Reuters) - VALBIOTIS SA  ALVAL.PA :
    * A CASH POSITION OF NEARLY EUR 22M (EXCLUDING POTENTIAL
ADDITIONAL REVENUE) AT END OF DECEMBER 2021, SECURING EXECUTION
OF STRATEGIC ROADMAP THROUGH TO FIRST HALF OF 2024
    * IN 2021, VALBIOTIS GENERATED A TURNOVER OF EUR 298,000, IN
LIGHT
OF 5 MILLION SWISS FRANC (EUR 4,679,000) UPFRONT PAYMENT SPREAD
OVER DURATION OF LICENSING AGREEMENT UNDER PARTNERSHIP WITH
NESTLÉ HEALTH SCIENCE
    * IN ADDITION TO TURNOVER, OPERATING INCOME (EUR 2,693,000)
CONSISTS MAINLY OF RESEARCH TAX CREDIT ACQUIRED DURING PERIOD
(EUR 1,750,000) AND GRANTS (EUR 645,000), WHICH REMAINED STABLE
DURING YEAR
    * CASH FLOW FROM OPERATING ACTIVITIES AMOUNTED TO (EUR
7,156,000)
IN 2021, REFLECTING INTENSIFICATION OF RESEARCH AND DEVELOPMENT
WORK
    * AS AT DECEMBER 31, 2021, VALBIOTIS HAD A CASH POSITION OF
EUR
21,819,000, UP 49% COMPARED TO AVAILABLE LIQUID ASSETS AT END OF
DECEMBER 2020
    * 2022 WILL BE A PIVOTAL YEAR WITH MAJOR CLINICAL RESULTS
EXPECTED
IN THREE KEY INDICATIONS: PREDIABETES, HIGH CHOLESTEROL AND
BLOOD PRESSURE
    * FY NET LOSS EUR 8.7 MILLION VERSUS LOSS EUR 3.8 MILLION
YEAR AGO
    * TOTUM•63 (PREDIABETES): END OF RECRUITMENT PLANNED FOR Q2
WITH
RESULTS EXPECTED IN Q4 OF 2022 FOR PIVOTAL PHASE II/III
REVERSE-IT STUDY AND COMPLETION OF MODE OF ACTION CLINICAL STUDY
BY INAF
    * TOTUM•070 (HIGH CHOLESTEROL): RESULTS OF PHASE II HEART
CLINICAL
EFFICACY STUDY AND CLINICAL BIOAVAILABILITY AND MODE OF ACTION
STUDY (Q2 2022);
    * TOTUM•854 (BLOOD PRESSURE): RESULTS OF BIOAVAILABILITY AND
MODE
OF ACTION CLINICAL STUDY (Q4 2022) AND LAUNCH OF TWO PHASE
II/III CLINICAL STUDIES INSIGHT AND INSIGHT 2

Source text for Eikon:  ID:nBwbVY0vga 
Further company coverage:  ALVAL.PA 

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