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First Quarter Results 2011

Oslo, 11 May 2012 - Bionor Pharma ASA today announced financial results for first quarter 2012 and provided highlights of key developments during first quarter 2012 and current status and outlook.

Link to Q1 report.

Highlights first quarter 2012

  • The statistically significant reduction in viral load in patients treated with Vacc-4x was confirmed.
  • The nasal administration clinical study of Vacc-4x in combination with Endocine was fully enrolled.
  • Strengthened its international team to expedite development and commercialization of its vaccines.
  • Final documentation submitted for international patent application of the Company's platform technology
  • EBITDA in Q1 2012 was MNOK -12.6 compared to MNOK -14.7 in Q4.
  • Cash holdings were MNOK 103.0 by the end of Q1 2012

Highlights after first quarter 2012

  • The nasal administration clinical study of Vacc-4x in combination with Endocine was finalized.
  • Celgene's CMO Jerome Zeldis, MD, PhD was nominated as new member of the board

KEY FIGURES

(In NOK 1000)  Q1 2012 Q1 2011 FY 2011
 Revenue  996 107 450 109 499
 Other operating expenses (net)  -13 522 -10 848 -52 142
 EBITDA  -12 527 96 602 57 357
 Depreciation  -2 837 -2 799 -11 300
 EBIT  -15 364 93 803 46 057

 

OUTLOOK

  • The conclusive data provide a basis for further clinical studies, offering Bionor three main pathways to market.
  • Bionor Pharma has decided to execute an extensive clinical research program including:
    • Vacc-4x and Revlimid® in combination
    • Vacc-4x revaccination
    • Vacc-C5 phase I/II study
  • Further development of vaccine candidates for HCV, influenza and potentially virus associated cancer.
  • The successful outcome of the phase IIb clinical study, together with the Company`s further preclinical and clinical program, makes a partnering process a priority for Bionor Pharma.

Updated company presentation is published on www.bionorpharma.com
For more information, please contact: Bionor Pharma, Oslo, +47 23 01 09 60

Steen Krøyer, CEO, +47 23 01 09 60
Gunnar Flåten, SVP Finance & Administration, +47 35 90 85 03 / +47 91 31 64 79