FIRST QUARTER RESULTS 2011

Oslo, 27.05.2011 - Bionor Pharma ASA (OSE: BIONOR) today announced financial results for first quarter 2011 and provided highlights of key developments during first quarter 2011 and current status and outlook.

Link to Q1 report.

 

HIGHLIGHTS FIRST QUARTER 2011 

  • Divestment of the Nutrilett trademark to Axellus for a consideration of MNOK 110
  • Filing of patent applications for the main technology platform (humoral).
  • Discussions with international pharma companies on a R&D collaboration for Vacc-4x are maturing
  • EBITDA Q1 2011 of MNOK 96.6 due to capital gain of the divestment of Nutrilett trademark of MNOK 106.8
  • Cash holdings MNOK 158.2 by the end of Q1 2011

 

KEY FIGURES

 (In NOK 1000)   Q1 2011 Q1 2010 FY 2010
 Revenue  107 450  2 495  12 591
 Other operating expenses (net)  -10 848  -12 206   -47 838
 EBITDA  96 602  -9 711   -35 247
 Depreciation  -2 799  -1 345    -9 224
 EBIT  93 803  -11 056  -44 471

 

STATUS AND OUTLOOK

 

  • Frode Hellesnes appointed Vice President Business Development in May.
  • Filing of patent applications in US for the main technology platforms (cell-mediated and humoral).
  • Read-out of immunological data are targeted to be announced in June, and presented in more detail at IAS meeting in Rome July 17-20
  • Strategic repositioning of Vacc-4x on basis of the clinical data from the phase IIB study and discussions with potential private and public explorative partners.
  • Planning of additional clinical trials with main focus on combination therapy and functional cure.
  • Preparation of “first time in man” for the second HIV-vaccine candidate, Vacc-C5, a humoral vaccine focused on combating HIV-infection by reducing hyper-activation of the immune system.  


 

For more information, please contact:


Henrik Lund, CEO             hl@bionorpharma.com / +47 23 01 09 62 / +47 90 97 12 19
Rolf Henning Lem, CFO     rhl@bionorpharma.com / +47 23 01 09 61 / +47 97 74 88 45