SOURCE: Ablynx

November 18, 2010 01:39 ET

Ablynx Provides Business Update for the Third Quarter 2010

GHENT, BELGIUM--(Marketwire - November 18, 2010) -


REGULATED INFORMATION

GHENT, Belgium, 18 November 2010 - Ablynx [Euronext Brussels: ABLX] today provides its non-audited business update in compliance with the EU transparency directive. This report summarizes material events and Ablynx's financial position for the third quarter of 2010. It has been approved by the Board of Directors.

Q3 2010 Highlights

  * Initiated an open-label, randomized Phase II study for patients with
    thrombotic thrombocytopenic purpura (TTP), in Europe and North America,
    with its anti-von Willebrand factor (vWF) Nanobody®
    (ALX-0081/ALX-0681)
  * Progressed the Phase II trial for its anti-vWF programme (ALX-0081) in
    patients with acute coronary syndrome (ACS) undergoing percutaneous
    coronary intervention (PCI)
  * Pfizer completed recruitment for its lead anti-TNF-alpha Nanobody,
    ATN-103, currently in a Phase II study in patients with rheumatoid
    arthritis (RA)
  * Reported positive safety data for its ongoing Phase I study with
    ALX-0141, a Nanobody targeting Receptor Activator of Nuclear Factor
    kappa B Ligand (RANKL) which plays a key role in bone remodeling
  * Received a EUR3.0 million milestone payment as part of its strategic
    alliance with Boehringer Ingelheim
  * Received EUR1.0 million from Novartis for licenses to further develop
    and commercialize Nanobodies against two complex targets
  * Received a Notice of Allowance from the US Patent and Trademark office
    for its patent application protecting the composition of matter of its
    programmes targeting vWF (ALX-0081 and ALX-0681)
  * Revenues were EUR17 million for the period January-September
  * EUR109.5 million in cash, cash equivalents and restricted cash at
    30 September 2010

Nine Months 2010 Financial Update

Revenues for the first nine months were EUR17 million (2009: EUR21.9 million). Expenses increased by 5% to EUR39.5 million (2009: EUR37.5 million). This resulted in a net loss for the first nine months of EUR21.5 million (2009: EUR13.5 million). The Company's cash, cash equivalents and restricted cash were EUR109.5 million at 30 September 2010 (2009: EUR93.7million).

[HUG#1463557]

Complete version of the press release: http://hugin.info/137912/R/1463557/402263.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ablynx via Thomson Reuters ONE

Contact Information

  • For more information, please contact Ablynx:

    Dr. Edwin Moses
    Chairman and CEO
    t: +32 (0)9 262 00 07
    m: +44 (0)7771 954 193 / +32 (0)473 39 50 68
    e: Email Contact

    Wim Ottevaere
    Chief Financial Officer
    t: +32 (0)9 262 00 11
    e: Email Contact

    Marieke Vermeersch
    Investor Relations Manager
    t: +32 (0)9 262 00 82
    m: +32 (0) 479 49 06 03
    e: Email Contact