SYGNIS reports results for the first quarter of 2013

  • Operating expenses decreased by over 50 percent
  • Operating result significantly improved
  • U.S. patent for flagship product QualiPhi® (after period-end)
  • Outlook confirmed

Madrid/Heidelberg, May 15, 2013 – SYGNIS Pharma AG (Frankfurt: LIO1, ISIN: DE000A1RFM03; Prime Standard) today announced its financial results according to IFRS for the first quarter of 2013, ending 31 March 2013. In the first quarter of 2013, revenues amounted to €0.1 million; operating expenses amounted to €1.3 million. Operating expenses include sales, general & administrative costs of €0.6 million EUR as well as research & development costs of €0.7 million, focused on DNA amplification and sequencing. The resulting net loss for the period was €-1.2 million. Due to the merger of SYGNIS with X-Pol Biotech (X-Pol) effective December 4, 2012, the results for the first quarter 2013 are not fully comparable to the financial results reported for the prior-year period. Following the reverse acquisition the first quarter of 2013 includes income and expenses of the old SYGNIS group and of X-Pol, while the first quarter of the previous year only records income and expenses of X-Pol. Adjusted for this effect, i.e. assuming that the income and expenses of both parts of the business would have been fully taken into account already in the first quarter 2012, the pro forma comparison of periods shows a significant decrease in operating expenses by more than 50% to €1.3 million (pro forma Q1 2012: €2.7 million) and an improvement in the operating result of 70% to -€1.2 million (pro forma Q1 2012: €-4.0 million). As of March 31, 2013, cash and cash equivalents amounted to €0.2 million (31 December 2012: €0.5 million). Funding of ongoing activities is currently secured until mid-year with loan commitments by the main shareholders. The Company has received in the first quarter of 2013 the first tranche (€0.1 million) of the loan given by the main shareholders Genetrix Life Sciences, A.B. and dievini Hopp BioTech holding GmbH & Co. KG. Pilar de la Huerta, CEO and CFO of SYGNIS commented: “The first quarter was very successful for SYGNIS. Due to the implemented restructuring measures we were able to significantly reduce our cost base. At the same time we have reached important milestones in product development and in April we secured a key patent for our flagship product QualiPhi®.” Outlook SYGNIS confirmed the outlook stated in the Annual Report 2012, published on 30 April 2013. According to this guidance, the company expects further commercial agreements and first revenues from product sales in 2013. The company plans to reach break-even in 2014 fiscal year.

Figures for the first quarter of fiscal year 2013 and comparative figures in accordance with IFRS and pro forma figures (Q1 2012 pro forma information includes SYGNIS old and X-Pol))):
[Numbers in €million] : Q1 2013 Q1 2012 pro forma Q1 2012
Revenues : 0.1 0.1 0.0
Total Expenses : 1.3 2.7 0.3
EBIT -1.2 -4.0 -0.3
Net results for the period -1.2 4.0 -0.3
Operating Cash Flow -0.9 -1.7 -0.1
Liquidity as of 30 June 0.2 1.5 0.1

The interim report for the first quarter, ended 31 March 2013, is available at www.sygnis.de.

For further information please contact:

SYGNIS Pharma AG

Pilar de la Huerta

CEO/CFO

Tel: +34-918063089

Email: pdelahuerta@sygnis.es

Press Release as PDF

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  • SYGNIS und Expedeon schließen sich zusammen. Sie werden jetzt auf die Webseite von Expedeon umgeleitet, wo Sie alle SYGNIS-Produkte bestellen können. Des weiteren haben Sie Zugang zu produktbezogenen Informationen und vielen weiteren technischen Ressourcen.

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  • SYGNIS und Expedeon schließen sich zusammen. Sie werden jetzt auf die Webseite von Expedeon umgeleitet, wo Sie alle SYGNIS-Produkte bestellen können. Des weiteren haben Sie Zugang zu produktbezogenen Informationen und vielen weiteren technischen Ressourcen.

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  • SYGNIS und Expedeon schließen sich zusammen. Sie werden jetzt auf die Webseite von Expedeon umgeleitet, wo Sie alle SYGNIS-Produkte bestellen können. Des weiteren haben Sie Zugang zu produktbezogenen Informationen und vielen weiteren technischen Ressourcen.

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  • SYGNIS und Expedeon schließen sich zusammen. Sie werden jetzt auf die Webseite von Expedeon umgeleitet, wo Sie alle SYGNIS-Produkte bestellen können. Des weiteren haben Sie Zugang zu produktbezogenen Informationen und vielen weiteren technischen Ressourcen.

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  • SYGNIS und Expedeon schließen sich zusammen. Sie werden jetzt auf die Webseite von Expedeon umgeleitet, wo Sie alle SYGNIS-Produkte bestellen können. Des weiteren haben Sie Zugang zu produktbezogenen Informationen und vielen weiteren technischen Ressourcen.

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  • SYGNIS und Expedeon schließen sich zusammen. Sie werden jetzt auf die Webseite von Expedeon umgeleitet, wo Sie alle SYGNIS-Produkte bestellen können. Des weiteren haben Sie Zugang zu produktbezogenen Informationen und vielen weiteren technischen Ressourcen.

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  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

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  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

    ok

  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

    ok

  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

    ok

  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

    ok

  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

    ok

  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok

  • SYGNIS y Expedeon se encuentran en proceso de fusión. A continuación, será transferido al sitio web de Expedeon, donde podrá adquirir productos SYGNIS, consultar manuales de producto y otros recursos técnicos.

    ok

  • SYGNIS und Expedeon schließen sich zusammen. Sie werden jetzt auf die Webseite von Expedeon umgeleitet, wo Sie alle SYGNIS-Produkte bestellen können. Des weiteren haben Sie Zugang zu produktbezogenen Informationen und vielen weiteren technischen Ressourcen.

    ok

  • SYGNIS and Expedeon are merging. You are now being transferred to Expedeon’s website. where you can order all SYGNIS’ products as well as consult product literature and many other technical resources.

    ok