This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Oslo, 11 May 2012
Bionor Pharma ASA today announced financial results for first quarter 2012 and provided highlights of key developments during first quarter 2012 and current status and outlook.
The Q1 report is attached.
Highlights first quarter 2012
- The statistically significant reduction in viral load in patients treated with Vacc-4x was confirmed.
- The nasal administration clinical study of Vacc-4x in combination with Endocine was fully enrolled.
- Strengthened its international team to expedite development and commercialization of its vaccines.
- Final documentation submitted for international patent application of the Company's platform technology
- EBITDA in Q1 2012 was MNOK -12.6 compared to MNOK -14.7 in Q4.
- Cash holdings were MNOK 103.0 by the end of Q1 2012
Highlights after first quarter 2012
- The nasal administration clinical study of Vacc-4x in combination with Endocine was finalized.
- Celgene's CMO Jerome Zeldis, MD, PhD was nominated as new member of the board
KEY FIGURES
| (In NOK 1000) | Q1 2012 | Q1 2011 | FY 2011 |
| Revenue | 996 | 107 450 | 109 499 |
| Other operating expenses (net) | -13 522 | -10 848 | -52 142 |
| EBITDA | -12 527 | 96 602 | 57 357 |
| Depreciation | -2 837 | -2 799 | -11 300 |
| EBIT | -15 364 | 93 803 | 46 057 |
OUTLOOK
- The conclusive data provide a basis for further clinical studies, offering Bionor three main pathways to market.
- Bionor Pharma has decided to execute an extensive clinical research program including:
- Vacc-4x and Revlimid® in combination
- Vacc-4x revaccination
- Vacc-C5 phase I/II study
- Further development of vaccine candidates for HCV, influenza and potentially virus associated cancer.
- The successful outcome of the phase IIb clinical study, together with the
Company`s further preclinical and clinical program, makes a partnering process a priority for Bionor Pharma
Updated company presentation is published on www.bionorpharma.com
For more information, please contact: Bionor Pharma, Oslo, +47 23 01 09 60
Steen Krøyer, CEO, +47 23 01 09 60
Gunnar Flåten, SVP Finance & Administration, +47 35 90 85 03 / +47 91 31 64 79
