Total revenues substantially increased to EUR 13.4 million from EUR 6.7 million (2016) in the reporting period; largely due to
Increased license income, reflecting milestone payments received from Zambon (EUR 10.4 million in 2017 vs. EUR 3.0 million in 2016)
Royalties of EUR 2.9 million (EUR 1.7 million in 2016)
Research and development expenses were significantly lower than in 2016, at EUR 8.6 million (2016: EUR 12.4 million), net of Italian R&D tax credits of EUR 4.5 million;
Cash used in operations decreased to EUR 8.4 million (2016: EUR 19.6 million).
In 2017, Newron, by a private placement of new shares to investors, raised CHF 27.0 million.
Newron’s cash position, including available financial assets and cash and cash equivalents, was EUR 60.1 million, at year-end (2016: EUR 46.5 million)
Financial Summary (IFRS):
In thousand EUR (except per share information)
Research and development expenses, net
Financial result, net
Loss per share
Cash used in operating activities
Cash, cash equivalents, other short-term fin. assets
Newron’s full 2017 Annual Report is available onhttp://www.newron.com/financial-report-2017
Outlook for 2018:
“We look forward to Xadago becoming available to patients in additional countries and territories. The Company is highly encouraged by the potential of both sarizotan and Evenamide and looks forward to continuing the development of both in the ongoing year. We started 2018 with funds totalling EUR 60.1 million, which we anticipate will take the Company to 2020, beyond expected key value inflection points. We also continue to evaluate non-dilutive funding opportunities”, commented Newron’s VP Finance Roberto Galli.
2018 Shareholders’ Meeting Agenda:
Newron’s Board of Directors has approved the below agenda for the March 27, 2018, 10:00 am CET, Shareholders’ meeting, which will take place at the Company’s registered office in Bresso (Mi), Italy. The formal invitation to shareholders will be issued and disclosed in the statutory papers on or around March 1. The full invitation and supporting material will be made available on the Company’s website on the same date. The agenda is as follows:
Approval of the financial statements as at December 31, 2017. Related and consequent resolutions.
Granting to the Board of Directors of the powers, pursuant to articles 2443 and 2420-ter of the Italian Civil Code, to issue shares and/or convertible bonds, up to Euro 1,426,987.60 even with the exclusion of option rights pursuant to article 2441, parts 4, first section, 5, 6 and/or 8 of the Italian Civil Code, eventually cum warrant. Amendment of article 6 of the By-Laws. Connected and consequent resolutions.
Powers to create American Depositary Shares and to list them on the Nasdaq or on any other market in the United States of America; connected and consequent resolutions.
Dial-in details to the media/analyst conference on March 1, 2018, 9:15-10:15 am CET
The Newron management team will present the 2017 full year results and provide an update and guidance for 2018. The conference call can be accessed via the following dial-in numbers:
Switzerland/Europe: +41 (0) 58 310 50 00
United Kingdom: +44 (0) 207 107 0613
United States: +1 (1) 631 570 5613
Italy: +39 02 805 88 20
The slide deck used in the call is available at Downloads - Investors and Media - Newron Pharmaceuticals
Annual Shareholders' meeting March 27, 2018
Half year report 2018 September 13, 2018