LUND, Sweden--(BUSINESS WIRE)--Regulatory News:
Fourth quarter and full year report 2013
· Net sales for January – December 2013 amounted to SEK 82 (43) million, whereof the fourth quarter SEK 50 (9,3) million.
· Earnings after tax for January – December 2013: SEK -18 (-188) million. Earnings per share before and after dilution SEK -0.23 (-2.61). Earnings after tax for the fourth quarter was SEK 20 (-21) million.
· Liquid funds as of 31 December 2013: SEK 65 (100) million. Cash flow of current operations and investment activities for January – December 2013: SEK -55 (-170) million, whereof the fourth quarter SEK 25 (-52) million.
Important events in the fourth quarter
· BioInvent received a significant license fee when BioInvent and Bayer extended and broadened the collaboration for the development of therapeutic antibodies.
· BioInvent was granted US patent for the F.I.R.S.T.™ antibody screening technology.
Comments from the CEO
"In 2013, we created stability in BioInvent’s business and conditions to build an internationally competitive pharmaceutical company focused on cancer therapy. We have increased the focus on generating revenues and on building a clinical portfolio in oncology with a balanced risk profile.” says Michael Oredsson, CEO of BioInvent.
The report is also available at www.bioinvent.com
BioInvent International AB is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer. The Company's pipeline currently includes three product candidates for the treatment of cancer. The company has unique expertise in antibody drug development from initial concept to late clinical phase. The antibody library n-CoDeR® and the screening tool F.I.R.S.T.TM are two patented tools that enable identification of relevant human antibodies and disease targets during the discovery phase. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of the new drug, and provide BioInvent the right to milestone payments and royalties on sales. These partners include Bayer Pharma, Daiichi Sankyo, Mitsubishi Tanabe and Servier.
Information disclosed in this financial statement is provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 8.30 a.m. CET, on 20 February, 2014.
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