CO.DON AG
co.don Aktiengesellschaft: Successful first half-year 2016 for co.don(R) AG
DGAP-News: co.don Aktiengesellschaft / Key word(s): Half Year Results Press release Successful first half-year 2016 for co.don AG + Technology leader in cartilage transplantation increases revenue by some 20% year on year Teltow, 31.08.2016 – Strong performance by co.don(R) AG: The technology leader in autologous chondrocyte transplantation implemented its commercial strategy successfully in the first half of 2016 and continued its expansion. Revenue in the first half of 2016 was up year on year by some 20% to EUR3,039k (previous year: EUR2,539k; all 2016 figures unaudited). The total loss was higher than last year, driven mainly by the ongoing burden of strategic expenses in connection with work to obtain EU marketing authorisation for its pharmaceutical product co.don chondrosphere(R), the establishment of a new administrative site in Berlin and higher staff expenses, which were focussed recruitment to prepare for an EU market launch. Total loss for the period was EUR1,230k in the first half year (previous year: EUR786k). The average monthly cash burn during the reporting period was EUR232k, which is lower than last year’s figure of EUR412k. There were significant changes in the company’s shareholder structure during the reporting period. Bauerfeind AG, based in Zeulenroda-Triebes, holds slightly over 25 per cent of the shares in co.don AG, according to information from Bauerfeind Beteiligungsgesellschaft mbH. The former major shareholders OSEMIFARO INVESTMENTS Ltd. and TRANSNOVA INVESTMENTS Ltd. have reduced their equity interests to zero. There have been no other significant changes to the shareholder structure of co.don AG. The synergies resulting from the strategic partnership with Bauerfeind AG will form a stable basis for continuing the implementation of the company’s ongoing growth strategy, both within Germany and in preparation for entering the wider EU market. On 10 May 2016, the Supervisory Board of co.don AG voted to expand the Executive Board and appointed Mr Ralf M. Jakobs as an Executive Board member. As Chief Financial Officer, Mr Jakobs is responsible for production, HR, Legal and IT, in addition to leading the finance function. At its meeting on 14 July 2016, the Supervisory Board of co.don AG, Teltow, voted to revoke the appoint of Ms Vilma Methner as an Executive Board member of co.don AG. co.don AG will continue to pursue its successful course of commercialisation and planned international expansion, with the aim of increasing enterprise value significantly and sustainably. In connection with the publication of its half-year report today, the company will hold a conference call in German on 1 September 2016 at 2.00 pm CET. Dirk Hessel, CEO of co.don AG, will report on the first half of the 2016 financial year and describe the outlook for the remainder of the year. The phone number and details for taking part in the conference call can be found here: http://goo.gl/6xhnCT. At the beginning of the conference call a short presentation will be available from http://goo.gl/tyF2aq and will remain posted at http://goo.gl/6xhnCT until 15 September 2016 for downloading as a pdf file. About co.don AG: Berlin-based co.don AG develops, produces and markets in Germany autologous cell therapies for the minimally invasive repair of cartilage damage to joints following traumatic or degenerative defects. co.don condrosphere(R) is a cell therapy product that uses only the patient’s own cartilage cells (“autologous chondrocytes”). co.don condrosphere(R) has been approved by the German federal agency PEI in accordance with Section 4b of the German Pharmaceuticals Act (AMG) and is currently undergoing Phase II and III clinical trials to obtain European marketing authorisation. co.don condrosphere(R) has been used for more than 10 years in over 120 clinics to treat more than 10,000 patients. In Germany the statutory health insurance companies have paid for the treatment of knee and hip joints since 2007 and for the treatment of vertebral joints since 2008. The shares in co.don AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Dirk Hessel (CEO), Ralf M. Jakobs (CFO). Press contact
2016-08-31 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | co.don Aktiengesellschaft | |
Warthestraße 21 | ||
14513 Teltow | ||
Germany | ||
Phone: | 03328 43460 | |
Fax: | 03328 434643 | |
E-mail: | info@codon.de | |
Internet: | www.codon.de | |
ISIN: | DE000A1K0227 | |
WKN: | A1K022 | |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange | |
End of News | DGAP News Service |