4SC AG
4SC provides Q1 2017 update
DGAP-News: 4SC AG / Key word(s): Quarterly / Interim Statement 4SC provides Q1 2017 update Planegg-Martinsried, Germany, 27 April 2017 – 4SC AG (4SC, FSE Prime Standard: VSC) today published an interim communication as of 31 March 2017 that presents all material developments in Q1 2017 and provides the Company’s current outlook. The full communication is available for download on 4SC’s website. Jason Loveridge, Ph.D., CEO of 4SC, commented: “4SC continues to make progress advancing its core assets resminostat, 4SC-202 and 4SC-208. In January, our partner Yakult Honsha presented promising data from subgroup analysis of the Phase II study of resminostat in combination with sorafenib in liver cancer (hepatocellular carcinoma, HCC). We continue to open study centers and enroll patients in our pivotal study RESMAIN of resminostat in cutaneous T-cell lymphoma (CTCL), which opened patient enrollment in December 2016. During the quarter, we continued to add scientific evidence that underlies the rationale for combining 4SC-202 with checkpoint inhibitors in cancer that is refractory or resistant to those innovative agents. Two combination clinical studies are anticipated to start in the second half of 2017. Finally, we expect to commence formal preclinical development of 4SC-208 in order to initiate Phase I clinical evaluation. Throughout the following months, we expect to make significant progress in developing our core assets and to further enhance the value of 4SC through signing deals with the right industry partners to pursue further development of our non-core assets.” Key highlights of Q1 2017
Business outlook for 2017
Cash balance development in Q1 2017 and financial forecast 4SC’s cash balance/funds amounted to EUR7,453 thousand as of 31 March 2017, compared with EUR11,333 thousand as of 31 December 2016. The decrease relates to an average monthly outflow of cash from operations of EUR1,293 thousand compared to an average monthly outflow of EUR827 thousand in 2016. The increase in Q1 2017 was driven by postponed expenses from 2016 for the RESMAIN clinical study of resminostat in CTCL. Monthly use of cash from operations was within the range forecasted for 2017 as a whole of between EUR600 thousand and EUR1,400 thousand on average per month. The Management Board of 4SC confirms that funds should be sufficient for a further twelve months of operations. Conference Call 4SC will not hold a telephone conference along with today’s Q1 2017 Interim Communication. According to 4SC’s policy, the Company will only hold conference calls when there is significant or material newsflow. – Press release ends –
About 4SC 4SC AG is a clinical-stage biopharmaceutical company developing small-molecule drugs that can target key indications in cancer with high unmet medical needs through epigenetic mechanisms. Such drugs are intended to provide patients with innovative treatment options that are more tolerable and efficacious than existing therapies and provide a better quality of life. 4SC’s core assets include resminostat, 4SC-202 and 4SC-208. 4SC’s pipeline is protected by a comprehensive portfolio of patents and comprises promising products that are in various stages of preclinical and clinical development. 4SC’s aim is to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies and/or the eventual marketing and sales of approved drugs in select territories by 4SC itself. Founded in 1997, 4SC had 48 employees as of 31 March 2017. 4SC has been listed on the Prime Standard of the Frankfurt Stock Exchange since December 2005. Forward-looking information Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond 4SC’s control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
4SC Corporate Communications & Investor Relations The Ruth Group MC Services
27.04.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | 4SC AG |
Fraunhoferstr. 22 | |
82152 Planegg-Martinsried | |
Germany | |
Phone: | +49 89 700763-0 |
Fax: | +49 89 700763-29 |
E-mail: | public@4sc.com |
Internet: | www.4sc.com |
ISIN: | DE000A14KL72 |
WKN: | A14KL7 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |