MetrioPharm AG
MetrioPharm AG has published financial figures 2008
MetrioPharm AG / Final Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- MetrioPharm AG has published financial figures 2008 Zurich, 8th of June 2009: The Swiss MetrioPharm AG (WKN: A0MLMB; ISIN: CH0029188817) has published its audited financial figures for 2008 according to the International Financial Reporting Standards (IFRS). The business of MetrioPharm AG has developed according to the forecast in the business year 2008. Business activities focused on the further development of the licensed active pharmaceutical ingredients (API) and the contact to potential licensees. Substantial advances in the research and developmental program of MP1021 were achieved. With the licensing of Etomoxir as well as following substances the product pipeline was expanded and first contacts to possible licensees were made. According to its business model MetrioPharm AG did not generate revenuesin 2008. Costs stayed within the budget as approved by the board. Especially the costs for the synthesis of MP1021, which was achieved faster than expected, were lower than initially predicted. The operational result amounts to CHF -3.5 millions (previous year: CHF -2.1 millions) and the annual loss amounts to CHF -3,6 millions (previous year: CHF -2.1 millions). MetrioPharm AG as a developer of pharmaceuticals expects to generate revenues from licenses. Currently, the company holds several patents and exclusive licences for the drugs MP1021 and Etomoxir. Further patent applications are currently in process. As to the accounting date of December 31st 2008 MetrioPharm AG reports a total of CHF 7.2 millions (31st December 2007: CHF 8.6 millions). The equity accounts for CHF 2,4 millions (December 31st 2007: CHF 6.0 millions). The short-term external finance increased to CHF 1.0 million (December 31st 2007: CHF 0.7 millions). The long-term external finance also increased to CHF 3.8 million (December 31st, 2007: CHF 1.9 millions). The intangible assets amounted to CHF 6.9 millions (December 31st 2007: CHF 7.4 millions). 'As developer of promising candidate drugs we focus on the development and registration of drugs in advanced stages, for which there is already clinical evidence for efficacy in humans. The advantage of our business model is the significantly reduced developmental risk compared to a completely new drug substance. In addition, our business model results in reduced time and costs', explained Dr. Brysch, president of the board of MetrioPharm AG. 'Because of the positive developments in the research and developmental program of MetrioPharm AG, especially for MP1021, we are confident about our further progress. The validity of our business strategy, with regard to the market needs, is reflected by widespread interest in our lead-substance MP1021 from the pharmaceutical industry. The already existing contacts to potential licensees will be intensified. Specifically we intend to start out-licensing negotiations early in 2010. With these activities we are approx. one year ahead of our original schedule for out-licensing', says Dr. Brysch. With immediate effect the annual report 2008 of the MetrioPharm AG is available for download on the MetrioPharm-Homepage http://www.metriopharm.com under 'Investor Relations'. About MetrioPharm AG: MetrioPharm AG is a biotechnology company which focuses on the development and registration of small-molecular drugs in advanced developmental stages, for which there is already clinical evidence for efficacy in humans. Company Contact: MetrioPharm AG Neuendorfstrasse 20B 16761 Hennigsdorf www.metriopharm.com T. +49 (0) 3302 20 234 02 F. +49 (0) 3302 20 234 99 info@metriopharm.com Investor Relations Contact: GFEI Gesellschaft für Effekteninformation mbH Hamburger Allee 26-28 60486 Frankfurt am Main www.gfei.de T. +49 (0) 69 743 037 00 F. +49 (0) 69 743 037 22 metriopharm@gfei.de 08.06.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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