mondoBIOTECH announces availability of interim financial information
mondoBIOTECH holding AG (SIX: RARE) announce today the availability of its unaudited and not reviewed interim financial information 31 March 2010, which has been prepared for disclosure into the Offering Circular dated 30 July 2010. The Company does normally not disclose quarter financial information.
- (1888PressRelease) August 03, 2010 - STANS, Switzerland - mondoBIOTECH realized revenues of 0.2 million in the three months ended 31 March 2010 from the performance of clinical development services. The revenues in the same period of 2009 of CHF 3.34 million also exclusively result from the performance of clinical development services. The decrease was caused by the gradual completion of the clinical phase II on the Aviptadil platform provided for Biogen Idec MA, Inc. Such effect has been accelerated by the entering into the license agreement with LungRX, Inc. on February 2010 under which the Company does not expect to provide major clinical services.
Research and development expenses increased from CHF 4.0 million in the first three months of 2009 to CHF 4.6 million in the same period of 2010. Most of these costs relate to variable costs resulting form the start of the nationalization phases of our intellectual property rights. Sales and marketing expenses increased from CHF 0.5 million in the first three months of 2009 to CHF 0.6 million in the same period of 2010, a moderate increase that reflects the stabilization of the sales and marketing activities of the Group. Management and administration expenses were CHF 0.4 million in the first three months of 2009 and CHF 0.3 million in the same period of 2010. The decrease is the result of a rationalization process that lead to a reduction of general consulting services, in particular legal services.
The interim financial information 31 March 2010 is available under http://www.mondobiotech.com/_manage/upload/Reports/Offering_Circular_30July2010.pdf
mondoBIOTECH holding AG (SIX Swiss Exchange ticker symbol: RARE), an independent, internet-based biotech research company, discovers drugs for patients suffering from rare and neglected diseases. Mondobiotech has built a continuously growing global community of biologists, biochemists, physicians, patients and patient advocacy organizations who share their passion and skills with Mondobiotech. Together with Mondobiotech, this community is searching for treatments for rare and neglected diseases.
For further information please contact:
mondoBIOTECH holding AG
Tel.: +41 (0) 840 200 010
Fax: +41 (0) 840 200 011
press ( @ ) mondobiotech dot com
The foregoing release may contain forward-looking statements. The words “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “will”, “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. mondoBIOTECH holding AG may not achieve the plans, intentions or expectations disclosed in its forward-looking statements and prospective investors should not place reliance on mondoBIOTECH holding AG’s forward looking statements. There can be no assurance that results of the activities and results of operations will not differ materially from the expectations. Forward- looking statements are subject to inherent risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by or underlying the forward looking statements. mondoBIOTECH holding AG is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.