Fourth Quarter and Full-Year Results 2011
Oslo, 17.02.12 - Bionor Pharma ASA (OSE: BIONOR) today announced financial results for fourth quarter and full year 2011 and provided highlights of the key developments during the fourth quarter, current status and outlook.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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Clinical study of nasal administration for Vacc-4x started at Oslo University Hospital in November.
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Bionor Pharma's universal influenza vaccine Vacc-Flu was presented at Influenza Congress in Washington DC.
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Vacc-C5 completed toxicological testing and was found to be safe and well tolerated
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EBITDA Q4 2011 MNOK -14.7 and EBITDA for full year 2011 MNOK 57.4
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Cash holdings MNOK 144.2 by end of Q4 2011.
With final review of Phase IIb Viral Load data completed, the Company confirms statistically significant reduction of HIV Viral Load on Vacc-4x compared to placebo
- Clinical study of nasal administration for Vacc-4x started at Oslo University Hospital has been fully enrolled.
- Data to support the platform patent for cell-mediated immunity was submitted 3rd December 2011
| Q4 2011 | Q4 2010 | (In NOK 1000) | FY 2011 | FY 2010 |
| 169 | 3 956 | Revenue | 109 499 | 12 591 |
| -14 824 | -13 012 | Other operating expenses (net) | -52 106 | -47 838 |
| -14 655 | -9 056 | EBITDA | 57 393 | -35 247 |
| -2 834 | -2 594 | Depreciation | -11 300 | -9 224 |
| 84 658 | Write-down of intangible assets | |||
| -17 489 | 73 008 | EBIT | 46 093 | -44 471 |
Outlook
The conclusive data provide a basis for further HIV trials, offering Bionor three main pathways to market.
- Bionor Pharma is planning an extensive clinical research program including:
- Vacc-4x and Revlimid® in combination
- Vacc-4x revaccination
- Vacc-4x study involving nasal administration
- Vacc-C5 phase I/II trial -
Further development of vaccine candidates for HCV, influenza and potentially virus associated cancer.
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The successful outcome of the phase IIb clinical trial, together with the Company`s further preclinical and clinical program, makes a partnering process a priority for Bionor Pharma
For further information:
Steen Krøyer, CEO +47 23 01 09 60
Gunnar Flåten, SVP Finance & Administration +47 35 90 85 03 / +47 91 31 64 79