Paris, 27 February 2015, 7pm
Quarterly information - Fourth quarter 2014
Turnover up 10% compared to 2013 Fourth quarter
€2,099 thousand year-to-date turnover as of 31 December 2014
AB Science SA (NYSE Euronext - FR0010557264 - AB), a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), today reports its revenues for the fourth quarter of 2014.
I. Fourth quarter sales of 2014
AB Science revenues amounted to €544 thousand in the fourth quarter 2014, vs. €496 thousand in the fourth quarter of 2013, up 10%. The company turnover amounts to €2,099 as of 31 December 2014, as compared with €1,933 thousand one year earlier, which represents a growth of 9%.
These revenues derive from the commercial exploitation of masitinib in veterinary medicine in Europe and in the United States.
II. Update on financial situation as of 31 December 2014
AB Science cash[1] was €18.9 million as of 31 December 2014, vs. €31.9 million as of 31 December 2013.
This cash position has been increased by a capital increase of €8.0 million through the issue of new shares (PACEO®) in February 2015.
Indeed, the company has decided, making use of the equity line (PACEO®) set up with Societe Generale on 30 July 2014, to proceed with the issue of:
- 463,500 new shares, accounting for 1,39 % of total outstanding shares after this issuance
- for the price of €17.26 per share
The issue price of the new shares showed a 3.45% discount compared to the weighted average price over the last three trading sessions.
III. Update on masitinib clinical development program in human medicine
Masitinib is currently developed in 13 phase 3 indications (7 in oncology, 3 in inflammatory diseases, and 3 in neurodegenerative diseases).
| AREA | INDICATION | STUDY | STATUS |
| Oncology / Hematology | Relapsed metastatic colorectal cancer | Phase 3 | On-going |
| Pancreatic cancer | Phase 3 confirmatory | On-going | |
| GIST in first-line treatment | Phase 3 | On-going | |
| GIST in second-line treatment | Phase 3 confirmatory | On-going | |
| Metastatic melanoma with JM mutation of c-KIT | Phase 3 | On-going | |
| Metastatic Castrate Resistant Prostate Cancer | Phase 3 | On-going | |
| Relapsed multiple myeloma | Phase 3 | On-going | |
| Inflammatory diseases | Indolent Systemic Mastocytosis | Phase 3 | On-going |
| Non controlled severe persistent asthma | Phase 3 | On-going | |
| Refractory rheumatoid arthritis | Phase 3 | On-going | |
| Neurodegenerative diseases | Alzheimer's disease | Phase 3 | On-going |
| Progressive forms of multiple sclerosis | Phase 3 | On-going | |
| Amyothrophic Lateral Sclerosis | Phase 3 | On-going |
Moreover, the company announced in the past few months that the on-going studies in mastocytosis, asthma and Alzheimer's disease successfully passed futility test. A futility analysis tests the inability of a clinical study to achieve its efficacy objective. Based on these futility analyses outcomes, the Independent Data Safety Monitoring Committee (IDMC) has recommended the continuation of these three phase 3 studies.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), a class of targeted proteins whose action are key in signaling pathways within cells. Our programs target only diseases with high unmet medical needs, often lethal with short term survival or rare or refractory to previous line of treatment in cancers, inflammatory diseases, and central nervous system diseases, both in humans and animal health.
AB Science has developed a proprietary portfolio of molecules and the Company's lead compound, masitinib, has already been registered for veterinary medicine in Europe and in the USA. The company is currently pursuing thirteen phase 3 studies in human medicine in first-line and second-line GIST, metastatic melanoma expressing JM mutation of c-Kit, multiple myeloma, metastatic colorectal cancer, metastatic prostate cancer, pancreatic cancer, mastocytosis, severe persistent asthma, rheumatoid arthritis, Alzheimer's disease, progressive forms of multiple sclerosis, and Amyotrophic Lateral Sclerosis. The company is headquartered in Paris, France, and listed on Euronext Paris (ticker: AB).
Further information is available on AB Science website: www.ab-science.com.
This document contains prospective information. No guarantee can be given as for the realization of these forecasts, which are subject to those risks described in documents deposited by the Company to the Authority of the financial markets, including trends of the economic conjuncture, the financial markets and the markets on which AB Science is present.
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AB Science - Financial Communication & Media Relations
investors@ab-science.com
