Exiqon A/S announces annual report for 2008


Exiqon A/S announces annual report for 2008 

For Exiqon A/S, traded at NASDAQ OMX Copenhagen (“EXQ”), 2008 was a landmark
year. 
Exiqon entered the market for molecular diagnostics through the acquisition of
Oncotech, Inc., and witnessed continued strong organic growth in research
product sales. 

Exiqon met its financial forecast for 2008. Revenue increased by 159% to
DKK128.3 million compared to an expected DKK 120-130 million. Research product
sales grew organically by 43%. The net loss for 2008 was DKK 115.4 million
compared to an expected loss of DKK 115-125 million. 

In spite of the current macroeconomic environment, Exiqon expects 2009 to be
another year with strong organic growth. Product demand remains strong and we
will continue to invest in sales and marketing activities and in the
development of our diagnostic pipeline. For 2009, total revenue of DKK 175-200
million is expected, of which Exiqon Diagnostics is expected to contribute DKK
70-80 million and Exiqon Life Sciences, including revenue from Exiqon Pharma
Services, is expected to contribute DKK 105-120 million. The net loss for the
year 2009 is expected to be DKK 120-135 million including costs of expensed
incentive programs. 

Exiqon maintains its overall long term financial goal of reaching profitability
with its current capital resources in 2011 and a cash flow positive Life
Sciences business by end 2009. 

The full annual report for 2008 including full guidance for 2009 is attached to
this announcement. 

Exiqon invites investors and analysts to a meeting with Management today at
13.00 (CET) at NASDAQ OMX, Nikolaj Plads 6, 1007 København K, Denmark. 

The meeting will be held in English and webcast live on www.exiqon.com. See
call in numbers below. 

Danish participants please dial  	+45 327 147 67 before 12.55 pm CET
US participants please dial 	+1  718 354 1226 before 12.50 pm CET
Other international participants please dial	+44 (0) 208 817 9301 before 12.50
pm CET 

Additional information:
Lars Kongsbak, CEO, phone +45 45 66 08 88 (cell: +45 40 90 21 01)
Hans Henrik Chrois Christensen, CFO, phone +45 45 66 08 88 (cell: +45 40 90 21
31) 


See the full announcement and the Annual Report for 2008 in the attached
pdf-files.

Attachments

announcement_5_2009.pdf annual report 2008.pdf