LipoNova AG
LipoNova AG: LipoNova AG reduces losses in 2006 – Liquidity increases to 6.1 million Euro
LipoNova AG / Final Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Hanover, April 26, 2007. - LipoNova AG (WKN LNAG00), a phase III biotech company, has significantly reduced losses in the fiscal year 2006 and a successful IPO has brought about a marked increase in both the level of liquid assets and equity. As a biotechnology company engaged in research, LipoNova generated revenues of 5,961 Euro, following on from 0.1 million Euro in the previous year. By strictly controlling costs across all divisions, the operating loss improved to minus 3.3 million Euro, compared to minus 6.7 million Euro the previous year. The net loss for the year fell to 3.8 million Euro, compared to 6.7 million Euro in 2005. The level of liquid assets increased as of the balance sheet date to more than 6.1 million Euro. The year before it had been at 0.6 million Euro. Equity rose to 6.8 million Euro, compared to 1.0 million Euro at the end of 2005. The equity ratio amounted to 91 percent, practically doubling in relation to the 47 percent of the previous year. LipoNova is pushing forward with preparations for the start of the international phase III study of the lead product candidate, Reniale, in early 2007. Furthermore, various activities are in the pipeline for generating timely revenues even before it receives European or FDA approval. These include licensing Reniale in non-EU countries, compassionate use and cooperation with partners in the pharmaceutical and biotech industries. Discussions and negotiations with partners are currently ongoing. LipoNova AG's annual report is now available for download on the Internet at: www.liponova.de About LipoNova AG: LipoNova is an international pioneer in the development of a completely new set of substances for cancer therapy, so-called 'autologous tumor vaccines'. LipoNova is the first company in the world to successfully conclude a phase III clinical study in this area with the product candidate 'Reniale'. LipoNova intends to develop the product candidate for the treatment of kidney cell carcinomas until it is ready for international marketing – the market potential is estimated at approximately 1 billion Euro per annum. Moreover, it forms the basis for the development of other products for prolonging life using this technology. Contact: edicto GmbH Axel Mühlhaus/ Werner Rüppel Tel. 069-9055055-2 E-mail: amuehlhaus@edicto.de DGAP 26.04.2007 ---------------------------------------------------------------------- Language: English Issuer: LipoNova AG Feodor-Lynen-Str. 35 30625 Hannover Deutschland Phone: +49 (0)511-54099 0 Fax: +49 (0)511-54099 31 E-mail: info@liponova.de www: www.liponova.de ISIN: DE000LNAG002 WKN: LNAG00 Indices: Listed: Freiverkehr in Berlin-Bremen, Düsseldorf, Stuttgart; Entry Standard in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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