MOLOGEN AG
MOLOGEN AG: Start of pivotal study for cancer immunotherapy MGN1703 influences 2014 annual result
MOLOGEN AG / Key word(s): Final Results MOLOGEN AG: Start of pivotal study for cancer immunotherapy MGN1703 influences 2014 annual result – Two studies with MGN1703 launched in fiscal year 2014: pivotal study in indication colorectal cancer and phase II study in indication small cell lung cancer – Increase in R&D expenditure impacts annual result Berlin, March 25, 2015 – Biotechnology company MOLOGEN is today publishing its annual results for fiscal year 2014. The company achieved significant progress in the ongoing development of its cancer immunotherapies. In the past financial year, two studies were started with the lead product candidate MGN1703: the IMPALA pivotal study in the indication colorectal cancer and a phase II IMPULSE trial in the indication small cell lung cancer. The net loss for the year of EUR 17.1 million was essentially attributable to the increase in expenses for research and development (R&D) as a result of these studies. The additional funding requirement was met by a capital increase of around EUR 16 million carried out in February 2014. Start of IMPALA pivotal study “The start of the IMPALA pivotal study was a key milestone for MOLOGEN. Patient enrollment for both this study and the IMPULSE study is now our top priority. Our investigators are established international experts in the field of oncology and will be providing valuable support,” comments High impact at international scientific conferences Rise in R&D expenditure due to start of new MGN1703 studies In the past financial year, the development of liquid funds was influenced by higher R&D expenditure and the inflow of around EUR 15.7 million as a result of a capital increase in February 2014. As of December 31, 2014, liquid funds amounted to EUR 13.6 million and were therefore only slightly below the prior year’s value of EUR 14.8 million. Outlook for 2015 The 2014 annual financial statements are available online under www.mologen.com. 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 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 immunotherapies. 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. Memberships in associations: MIDGE(R), dSLIM(R), EnanDIM(R) and MOLOGEN(R) are registered trademarks of MOLOGEN AG.
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2015-03-25 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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