NeuroSearch (NEUR) has completed a sale of the company's laboratory equipment and office furniture amounting to a total of approximately DKK 10 million. The sale was conducted in collaboration with Troostwijk Auctions.
The revenue positively influences the company's capital resources with approximately DKK 10 million. The sale does not influence the expectations to the 2013 operation loss as the sales revenue will be recognised under discontinued operations.
By the end of 2012, the company's funds consisting of cash and cash equivalents including securities stood at DKK 81 million.
Outlook for 2013
For 2013, NeuroSearch still expects an operating loss of approximately DKK 15 million on the assumption of release of the escrow amount of DKK 28.7 million by Teva upon satisfactory transfer of the Huntexil® project. The significant saving relating to dismissals will be realised after 2013.
The above expectations do not take into account any loss or profit arising out of a potential sale of the remaining NeuroSearch assets.
Chairman of the Board of Directors
René Schneider, CEO, telephone: +45 2911 2097
NeuroSearch A/S (NEUR) is listed on NASDAQ OMX Copenhagen A/S. The company’s product pipeline comprises ordopidine and seridopidine, which have both completed phase I studies, as well as tesofensine, which has completed phase II, and NS2359 which has completed phase I. All drug candidates exert their effect in the central nervous system.
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