MOLOGEN AG
MOLOGEN AG: Progress in clinical trials sets first quarter trend
MOLOGEN AG / Key word(s): Quarter Results MOLOGEN AG: Progress in clinical trials sets first quarter trend – Patient recruitment progresses for pivotal study on colorectal cancer and phase II trial in small cell lung cancer – Cooperation with Aarhus University hospital agreed: study on the use of MGN1703 against HIV – Capital increase with a volume of around EUR28 million completed Berlin, May 12, 2015 – Biotechnology company MOLOGEN AG made progress in the first quarter of 2015 with regard to patient recruitment for its current clinical trials with the MGN1703 immunotherapy, which is the company’s main product candidate. MOLOGEN’s quarterly report, published today, stated a slight decrease in research and development (R&D) expenses. In addition, MOLOGEN reported the successful completion of a capital increase shortly after the end of the reporting period that generated gross proceeds totaling approximately EUR28.3 million. Clinical research program in immuno-oncology advances In the first quarter of 2015, research and development results were presented at key international scientific conferences. This included additional data on the safety trial with MGN1703, conducted in the US in 2013. The data and findings presented support the dosage regimen used in the ongoing IMPULSE and IMPALA trials. HIV patients to receive MGN1703 Dr. Matthias Schroff, Chief Executive Officer of MOLOGEN AG, stated, “The trial to be conducted at Aarhus University Hospital demonstrates the wide range of possible applications of our MGN1703 immunotherapy. In addition to the field of immuno-oncology, on which our own activities focus, infectious diseases represent another field with substantial potential. We are delighted about this cooperation and look forward to the findings that will be obtained in the study.” R&D expenses determine trend in EBIT Dr. Schroff went on to explain, “Our activities will continue to focus on progressing further with the two oncological trials for our MGN1703 immunotherapy. Although we achieved a minor improvement in our financial results in the first quarter of this year, we still expect R&D expenses to increase over the full year because of the advanced study program. Operating results will reflect this accordingly. Consequently, our forecast for 2015 as a whole remains unchanged.” Significant increase in cash and cash equivalents following capital increase Outlook for 2015 The financial statements for the first quarter of 2015 are available on the company website at www.mologen.com. About MGN1703 MOLOGEN AG The cancer immune therapy MGN1703 is the company’s lead product and best-in-class TLR9 agonist. It is currently developed for first-line maintenance treatment of colorectal cancer (pivotal randomized trial) and small cell lung cancer (randomized controlled trial). A second clinical-stage product is MGN1601, a therapeutic vaccination for the treatment of renal cancer. A phase I/II clinical study has already been completed successfully. For more information on the trials please visit www.clinicaltrials.gov. With unique, patented technologies and innovative products, MOLOGEN is pioneering immune therapies. MOLOGEN AG is a publicly listed company, headquartered in Berlin. The shares (ISIN DE0006637200) are listed in the Prime Standard of the German Stock Exchange. www.mologen.com MIDGE(R), dSLIM(R), EnanDIM(R) and MOLOGEN(R) are registered trademarks of MOLOGEN AG. Contact Note about risk for future predictions
2015-05-12 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | MOLOGEN AG | |
Fabeckstraße 30 | ||
14195 Berlin | ||
Germany | ||
Phone: | 030 / 841788-0 | |
Fax: | 030 / 841788-50 | |
E-mail: | presse@mologen.com | |
Internet: | www.mologen.com | |
ISIN: | DE0006637200 | |
WKN: | 663720 | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart | |
End of News | DGAP News-Service |
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