HepaHope, Inc.
HepaHope, Inc. releases H1 2009 figures
HepaHope, Inc. / Half Year Results 30.09.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- HepaHope, Inc. releases H1 2009 figures - Results in line with expectations - Increase in total expenses due to IPO costs - Net loss of USD 6.3 million Irvine (California, USA), September 30, 2009 - The biopharma company HepaHope, Inc. (symbols: 0HH1) today announced its results for the first half of 2009. HepaHope, who has been listed on the Frankfurt Stock Exchange since April this year, recorded no revenues in the first six months of 2009 - in line with the company's expectations. Net loss increased from USD 3.2 million to USD 6.3 million mainly due to expenses relating to the preparation and execution of the stock market listing of the company within the reporting period. At USD 1.1 million, R&D expenses were slightly lower than in the same period of last year (H1 2008: USD 1.2 million), while other income came in significantly lower with USD (1.2 million) compared to USD (0.1 million) as a result of higher interest expenses. As announced at the IPO in April, the company fully concentrates on the start of Phase I clinical trials of its major product HepaPheresis(TM) in Mexico and the U.S. concurrently. In both jurisdictions HepaHope is in close talks with authorities in order to obtain clearance for its human clinical trials. Currently the company is submitting additional animal studies to the U.S. FDA to finally obtain an IND (Investigational New Drug) status. Disclaimer: Any statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties. HepaHope disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. About HepaHope: HepaHope, Inc. is a biopharmaceutical company focused on research, development and commercialization of biologic products designed to address the needs of patients with liver failure. The Company's leading proprietary technology, the HepaPheresis(TM) System, is based on an Organ Slice Cultivation Technology which aims to maintain the functionality of various organs out of the body (ex vivo) in order to better support liver failure patients. The HepaPheresis(TM) System is currently being prepared for Phase I clinical trials. HepaHope's patented core technology for organ slice cultivation is also the foundation of other product candidates in the pipeline of this company in the oncology testing market and the drug development market. The members of the management and science advisory board of the company represent leading scientists in liver research. HepaHope was founded in February 1999. The offices and research facilities of the US Company are both located in California. For further information please visit: www.hepahope.com HepaHope, Inc. Bhavesh Singh Chief Financial Officer P + 1 949 421 3617 M + 1 201 920 1819 Investor Relations IR.on AG Achim Josten, Dariusch Manssuri T +49 221. 9140.970 F +49 221. 9140.978 E-mail: info@ir-on.com 30.09.2009 Financial News transmitted by DGAP --------------------------------------------------------------------------- Language: English Company: HepaHope, Inc. 30 Fairbanks, Suite 110 CA 92618 Irvin Vereinigte Staaten von Amerika Phone: 001 9494213600 Fax: 001 9494213680 E-mail: investor@hepahope.com Internet: http://www.hepahope.com ISIN: US42689N1090, USU425541021 WKN: A0RMY4, A0RLC1 Listed: Freiverkehr in Düsseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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