VUB spin-off Ablynx announced 2015 full year results
Ablynx [Euronext Brussels: ABLX; OTC: ABYLY] announced its financial results for 2015, which have been prepared in accordance with IFRS as adopted by the European Union.
- Total revenues of €77.5 million (+57%); cash position of €236.2 million (+15%), strengthened by the successful placement of 5-year convertible bonds (raising €100 million; 3.25% coupon rate and 26.5% conversion rate)
- Net cash burn of €67.2 million(1), an improvement over the previously guided range of €70-80 million
- R&D highlights: initiated 1 Phase III study and 3 Phase II studies to include a total of over 900 patients; completed recruitment of 35 infants in the Phase I/IIa RSV study; completed recruitment of 345 patients in the Phase IIb combination study with ALX-0061 in RA patients; initiated 14 new discovery programmes both proprietary and as part of pharmaceutical collaborations; achieved the first pre-clinical proof-of-concept with a bi-specific Nanobody in the immuno-oncology collaboration with Merck & Co., Inc.
- Signed 3 new pharmaceutical partnerships and extended 2 existing collaborations
- Significant catalysts anticipated in 2016 with a number of potential pre-clinical/clinical milestones and several important clinical trial read-outs
"We are very pleased with our strong performance in 2015 with excellent progress reported in all areas," said Dr Edwin Moses, CEO of Ablynx. "Our product pipeline is advancing well and now includes more than 40 proprietary and partnered programmes, with our first Nanobody product expected to be launched in 2018. We remain focused on delivering sustainable value to all our stakeholders and look forward to an exciting year with multiple pre-clinical, clinical and commercial catalysts across our extensive pipeline."