This is a correction of the announcement from 09:40 31.08.2016 CEST. Reason for the correction: To summarize key information from the interim report in the press release.
Hoersholm, Denmark; August 31 st , 2016 - Medical Prognosis Institute A/S (MPI:ST) announces the Company's Interim Report First Half 2016. Below is a summary of the report.
Significant events during H1 2016
- MPI is issued patent in Australia.
- MPI publishes positive results with DRPT TM tool in gastroesophageal cancer.
- MPI's spinout Oncology Venture in-licenses LiPlaCis TM .
- MPI raises DKK 8,686,575 in private placement at a price of 135 DKK per share.
- First patient included in APO010 immuno-oncology screening trial by MPI's spinout Oncology Venture.
- MPI and Oncology Venture enters three new agreements on DRPs.
- Positive data on MPI's DRP TM for 5-FU published in PLOS ONE.
- MPI's DRP TM technology used in the first prospective study.
- MPI changes listing from Nasdaq Copenhagen First North to Nasdaq Stockholm First North. First day of trading in Stockholm was June 27 th 2016.
Significant events after the period
- MPI and Oncology Venture enhances the collaboration by entering another agreement on DRPs.
- First DRP selected Breast Cancer Patient obtained reduction of tumour by LiPlaCis treatment.
Financial review for H1 2016 (2016-01-01 to 2016-06-30)
The Report includes the Parent Company Medical Prognosis Institute A/S. No consolidated financial statements have been prepared with reference to section 110 of the Danish Financial Statements Act.
Income statement H1 2016
- Revenue amounted to DKK 1,849,204 (last year DKK 681,080).
- Gross profit amounted to DKK -3,760,812 (last year DKK -6,350,226). The gross profit margin amounted to
-203,4% (last year -932,4%). The increase in gross profit is due to increased sales of DRP licenses and analyses and that the vast majority of the direct costs are related to revenue generating activities.
- Staff expenses amounted to DKK 1,215,101 (last year DKK 1,301,961).
- Profit/loss before other operating expenses showed a loss of DKK -5,193,130 (last year a loss of DKK -7,759,588). Other operating expenses amounted to DKK 0 (last year DKK 0).
- Profit/loss before tax amounted to a loss of DKK -5,230,504 (last year a loss of DKK -7,801,977).
- The Company realized a net loss of DKK -4,079,793 (last year a net loss of DKK -6,085,542).
- Earnings per share amounted to DKK -0,2 (last year DKK -5,5).
Balance sheet
- Total assets amounted to DKK 31,072,221 (end of last year DKK 32,022,832) and consists primarily of an 11.49 % ownership in Oncology Venture, receivables and cash at bank and in hand.
- Total liabilities amounted to DKK 31,072,221 (end of last year DKK 32,022,832) and primarily consist of the Company's equity, DKK 29,510,583 (last year DKK 28,451,397).
Cash flows
- The Company's cash flows from operating activities were a negative DKK 6,341,375 (last year a negative DKK 7,805,892).
- The Company's cash flows from financing activities amounted to DKK 8,077,459 (last year DKK 271,080).
Subsequent events No events materially affecting the assessment of the Report have occurred after the balance sheet date.
Financial Calendar
- Annual Report, March 27 th 2017.
- Annual General Meeting, April 25 th 2017.
For the full Interim Report, please see www.medical-prognosis.com .
Certified Adviser: Sedermera Fondkommission
For further information, please contact: CEO, Peter Buhl Jensen, Adjunct Professor, MD, PhD E-mail: pbj@medical-prognosis.com Telephone: +45 21 60 89 22
This information is information that Medical Prognosis Institute A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 31 st august 2016.
About MPI Medical Prognosis is a publicly traded international company specialized in improving cancer patients lives by developing Personalized Medicine using its unique DRP technology. MPI's exceptional opportunity to personalize cancer treatment - begins with Breast Cancer moving on to Multiple Myeloma and Prostate Cancer as the first steps. MPI's DRP tool has shown its ability to separate patients who benefit and who do not benefit from a specific cancer treatment. This has been shown in as many as 29 out of 37 trials, and covers more than 80 anti-cancer treatments in a wide range of cancer indications. MPI has built a significant large database with over 1,100 screened breast cancer patients and is building up a database in Multiple Myeloma to be followed by Prostate cancer in collaboration with oncologists and hematologists throughout Denmark.
