To NASDAQ OMX Copenhagen A/S Announcement no. 09-14 / Copenhagen, May 8, 2014
Topotarget announces that the Board of Directors has reviewed and approved the company’s interim report for the period January 1 – March 31, 2014.
Highlights from the financial results for the period January 1 - March 31, 2014
- Topotarget recognized revenues of DKK 98.2 million during the period (DKK 0.4 million in the same period in 2013)
- The research and development costs were DKK 4.3 million during the period (DKK 6.1 million in the same period in 2013)
- The administrative expenses were DKK 3.3 million during the period (DKK 3.8 million in the same period in 2013)
- Non-recurring items were DKK 5.8 million during the period (DKK 0.0 million in the same period in 2013)
- The net financials were a net loss of DKK 1.8 million during the period (net loss of DKK 0.4 million in the same period in 2013)
- The net profit from continued operations before tax for the period was DKK 82.8 million (net loss of DKK 10.2 million for the same period in 2013)
- Total comprehensive income for the period was a net profit of DKK 75.3 million (net loss of DKK 10.2 million for the same period in 2013)
- The Group’s net cash and cash equivalents as of March 31, 2014 totaled DKK 109.7 million (DKK 31.5 million at year-end 2013)
At a teleconference, which will be held today at 1.00 pm CET, CEO Anders Vadsholt will present the interim report for the period January 1 – March 31, 2014 and answer questions. The teleconference will be conducted in English. A presentation will be available on Topotarget’s website, www.topotarget.com , before the start of the teleconference.
To participate in the teleconference, please dial:
- Denmark: 32 72 80 18
- International: +44 (0) 1452 555131
Conference ID: 18951138
You will be able to stream the teleconference via the following link: http://www.media-server.com/m/p/r84qxzpt
After the call, a playback will be available via the same link.
Topotarget A/S
For further information, please contact: Anders Vadsholt, CEO – direct: +45 39178345
Background information
About Topotarget Topotarget (NASDAQ OMX: TOPO) is a Scandinavian-based biopharmaceutical company headquartered in Copenhagen, Denmark, dedicated to the clinical development and registration of oncology products. In collaboration with Spectrum Pharmaceuticals, Inc., Topotarget focuses on the development of its lead drug candidate, belinostat, which has shown positive results in the treatment of hematological malignancies and solid tumors, obtained by both mono- and combination therapy. For more information, please refer to www.topotarget.com.
Topotarget Safe Harbor Statement This announcement may contain forward-looking statements, including statements about Topotarget A/S’ expectations to the progression of Topotarget A/S’ clinical pipeline and with respect to cash burn guidance. Such statements are subject to risks and uncertainties of which many are outside the control of Topotarget A/S, and which could cause actual results to differ materially from those described. Topotarget A/S disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by Danish law.
