Announcement No. 16-09 / Copenhagen, 14 May 2009
TopoTarget A/S
Symbion
Fruebjergvej 3
DK 2100 Copenhagen Ø
Denmark
Tel: +45 39 17 83 92
Fax: +45 39 17 94 92
CVR-nr: 25695771
www.topotarget.com
Copenhagen, Denmark - 14 May 2009 - The Board of Directors of TopoTarget A/S
(OMX: TOPO) today adopted the company's interim report for the period 1 January
to 31 March 2009.
• Sales of Savene® and Totect® have continued to climb from DKK 7.0 million in
Q1 2008 to DKK 11.6 million in Q1 2009. This is an increase from Q1 2008 to Q1
2009 of 66%
• Operating expenses for the three months period ended 31 March 2009 were DKK
42.1 million compared to DKK 60.3 million for the same period 2008
• Operating loss for the three months period ended 31 March 2009 was DKK 29.8
million compared to DKK 50.4 million for the same period 2008
• Loss before tax for the three months period ended 31 March 2009 was DKK 32.9
million compared to DKK 56.7 million for the same period 2008
• Cash, cash equivalent and market securities at 31 March 2009 were DKK 80.8
million compared to DKK 348.0 million at 31 March 2008
Selected milestones met during Q1 2009
• Positive sales growth and profitability reached on Savene®/Totect®
• Savene®/Totect® is now being cited as treatment of anthracycline
extravasation in nurses guidelines in Europe as well as in the US
• Positive update of initial phase II study with belinostat in PTCL and CTCL
which supports registration plan in PTCL
• Initiation of phase II portion of NCI sponsored study with belinostat given
at a higher than usual dose for liver cancer
• Positive data with belinostat and 5-FU for gastrointestinal cancer and the
possibility to select responding patients presented at ASCO, GI
• Belinostat moved into its first randomized trial in combination with
5-azacytidine in NCI sponsored study in AML and MDS
Highlights for the period after 31 March 2009
• First patient dosed in randomized phase II study of BelCaP (belinostat +
carboplatin + paclitaxel) versus carboplatin/paclitaxel in solid tumour
indication (CUP)
EGM - Plans for Rights Issue
The Company's Board of Directors has today resolved to convene an Extraordinary
General Meeting to be held on 27 May 2009 at which a proposal will be made for
the Board of Directors to be authorized by the shareholders to increase the
share capital by up to 66,304,510 new shares.
Conference call
TopoTarget will host a conference call this afternoon, 14 May at 2.00 pm (CET),
at which management will present and discuss the results for Q1 2009 in
English. A presentation will be available on TopoTarget's website,
www.topotarget.com, before the start of the conference call.
To participate in the conference call please dial:
From Denmark: 70 26 50 40
Outside Denmark: +45 70 26 50 40 or +44 208 817 9301 (UK) or +1 718 354 1226
(US)
A replay of the conference call will be available approximately two hours after
the conference call and until 18 August, 2009 at 5.00 pm (CET) at the following
number: +353 1 436 4267, pin code: 1666 758#.
TopoTarget A/S
For further information, please contact:
Peter Buhl Jensen Telephone +45 39 17 83 92
CEO Mobile +45 21 60 89 22
