TopoTarget A/S
Symbion
Fruebjergvej 3
DK 2100 Copenhagen Ø
Denmark
Tel: +45 39 17 83 92
Fax: +45 39 17 94 92
CVR-nr: 25695771
www.topotarget.com
Copenhagen, Denmark - 19 November 2009 - The Board of Directors of TopoTarget
A/S (OMX: TOPO) today adopted TopoTarget's interim report for the period 1
January to 30 September 2009.
•Sales of Savene®/Totect® continue to grow, despite Totect® manufacturing
difficulties at the contract manufacturer's production site in Q3. For the nine
month period to September sales increased from DKK 25.0 million in Q1-Q3 2008
to DKK 30.6 million in Q1-Q3 2009, an increase of 22%. Sales for Q3 2009 (DKK
8.3 million) were in line with Q3 2008 (DKK 8.4 million). Production was
resumed in October and TopoTarget remains confident that overall sales for the
Q3-Q4 period will not be adversely affected
•Operating expenses for the nine months period ended 30 September 2009 were DKK
115.4 million compared to DKK 182.1 million for the same period 2008
•Operating loss for the nine months period ended 30 September 2009 was DKK
81.3 million compared to DKK 152.9 million for the same period 2008
•Loss before tax for the nine months period ended 30 September 2009 was DKK
88.7 million compared to DKK 160.3 million for the same period 2008
•Cash, cash equivalents and market securities at 30 September 2009 were DKK
149.4 million compared to DKK 98.1 million at 30 September 2008
•Successful capital raise of DKK 132.6 million completed in July
•BELIEF and CUP belinostat trials recruiting patients according to plan.
Selected highlights during Q3 2009
•FDA grants Orphan Drug status for belinostat for the treatment of Peripheral
T-cell lymphoma (PTCL)
•National Cancer Institute, US (NCI) Phase I study initiated with belinostat +
cisplatin + etoposide combination in advanced solid tumors and small cell lung
cancer (SCLC)
•EGM - new board members Per Samuelsson, Anders Fink Vadsholt and Bo Jesper
Hansen elected.
Highlights for the period after 30 September 2009
•Production of Totect® for the US market was temporarily halted due to problems
at the contract manufacturer production site and resumed again in October 2009
•Presentation of positive belinostat and Velcade® Phase I data at the
AACR/NCI/EORTC Molecular Targets and Cancer Therapeutics Conference 2009 17
November.
Conference call
TopoTarget will host a conference call this afternoon, 19 November at 1.00 pm
(CET), at which management will present and discuss the results for Q3 2009 in
English. A presentation will be available on TopoTarget's website,
www.topotarget.com, before the start of the conference call.
To participate in the conference call please dial:
●From Denmark: 70 26 50 40
●Outside Denmark: +45 70 26 50 40 or +353 1 436 4265
A replay of the conference call will be available approximately two hours after
the conference call and until 26 November, 2009 at: +353 1 436 4267, pin code:
2090186#. From 26 November 2009 to 23 March 2010 a replay will be available on
the TopoTarget homepage www.topotarget.com
For full report please see attached PFD-file.
TopoTarget A/S
For further information, please contact:
Peter Buhl Jensen Telephone +45 39 17 94 99
CEO Mobile +45 21 60 89 22
