Topotarget announces interim report for the period January 1 - December 31, 2013

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| Source: Topotarget
multilang-release

To NASDAQ OMX Copenhagen A/S
Announcement no. 01-14 / Copenhagen, January 30, 2014

Topotarget announces that the board of directors has reviewed and approved the company’s interim report for the period January 1 – December 31, 2013.

Highlights from the financial results for the period January 1 to December 30, 2013:

  • Topotarget recognized revenues of DKK 8.3 million during the period (DKK 2.4 million in the same period in 2012)
  • The research and development costs were DKK 23.0 million during the period (DKK 46.5 million in the same period in 2012)
  • The administrative expenses were DKK 18.4 million during the period (DKK 34.7 million in the same period in 2012)
  • The net financials were a net loss of DKK 2.0 million during the period (net loss of DKK 1.1 million in the same period in 2012)
  • The net loss from continued operations before tax for the period was DKK 36.2 million (net loss of DKK 81.4 million for the same period in 2012)
  • Total comprehensive income for the period was a net loss of DKK 35.0 million (net loss of DKK 80.0 million for the same period in 2012)
  • The Group’s net cash and cash equivalents as of December 31, 2013 totaled DKK 31.5 million (DKK 41.5 million at year-end 2012)

At a teleconference, which will be held today at 1.00 pm CET, CEO Anders Vadsholt will present the interim report for the period January 1 – December 31, 2013 and answer questions. The teleconference will be conducted in English. A presentation will be available on Topotarget’s website, www.topotarget.com, before the start of the teleconference.

To participate in the conference call, please dial:

  • Denmark: 32 72 80 18
  • International: +44 (0) 1452 555131

Conference ID: 22225481#

You will be able to stream the telephone conference via the following link:

http://www.media-server.com/m/p/zqvxbab7

After the call, a playback will be available via the same link.

 

Topotarget A/S

For further information, please contact:
Anders Vadsholt, CEO – direct: +45 39178345

Background information

About Topotarget
Topotarget (NASDAQ OMX: TOPO) is a Scandinavian-based biopharmaceutical company headquartered in Copenhagen, Denmark, dedicated to the clinical development and registration of oncology products. In collaboration with Spectrum Pharmaceuticals, Inc., Topotarget focuses on the development of its lead drug candidate, belinostat, which has shown positive results in the treatment of hematological malignancies and solid tumors, obtained by both mono- and  combination therapy. For more information, please refer to www.topotarget.com.

Topotarget Safe Harbor Statement
This announcement may contain forward-looking statements, including statements about Topotarget A/S’ expectations to the progression of Topotarget A/S’ clinical pipeline and with respect to cash burn guidance. Such statements are subject to risks and uncertainties of which many are outside the control of Topotarget A/S, and which could cause actual results to differ materially from those described. Topotarget A/S disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by Danish law.