Earnings Release • Oct 14, 2014
Earnings Release
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Bagneux, France, October 14th, 2014 - DBV Technologies, (Euronext: DBV – ISIN: FR0010417345), announced today its topline financial results, as well as its cash and cash equivalents, for first nine months 2014.
For the first nine months 2014, total income reached €3,914,707, up from €2,535,963 for the same period in 2013. This increase primarily results from an increase in Research Tax Credit amounting to €3,562,796 over the period, compared to €2,271,494 a year earlier. This progression stems from the R&D activities conducted by DBV, both on the pre-clinical research and clinical development fronts. Sales of Diallertest® amounted to €210,759 in the first nine months 2014 compared with €73,840 a year earlier, due to a stocking effect at the Company's commercial partner.
As of 30 September 2014, DBV's cash and cash equivalents amounted to €21.3 million, as compared with €29.1 million as of June 30, 2014 and €39.4 million as of December 31, 2013. A Research Tax Credit for 2013 in the amount of €3.3 million has not yet been received but is expected in the fourth quarter of 2014.
DBV Technologies is developing Viaskin®, an innovative new approach to the treatment of allergies – a major public health issue that has been increasing in prevalence. DBV Technologies, incorporated in France in 2002, has developed a proprietary, worldwide-patented technology for administering an allergen to intact skin while avoiding transfer to the blood, and thus considerably lowering the risk of a systemic, allergic reaction in the event of accidental exposure. DBV Technologies is focusing on food allergies, including milk and peanut, for which there are currently no effective treatments. DBV Technologies has designed two products candidates: Viaskin® Peanut and Viaskin® Milk. The clinical development program for Viaskin® Peanut has received Fast Track designation from the US Food and Drug Administration.
DBV Technologies shares are traded on segment C of Euronext Paris (Ticker: DBV, ISIN code: FR0010417345). For more information on DBV Technologies, please visit our website: www.dbv-technologies.com
This press release contains forward-looking statements, including statements about the safety and efficacy of DBV Technologies' product. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals, and the risk that historical clinical trial results may not be predictive of future trial results. A further list and description of these risks, uncertainties and other risks can be found in the Company's regulatory filings with the French Autorité des Marchés Financiers. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. DBV Technologies undertakes no obligation to update or revise the information contained in this Press Release, whether as a result of new information, future events or circumstances or otherwise.
David Schilansky Chief Financial Officer
Tel. : +33(0)1 55 42 78 78 [email protected]
Susanna Mesa VP Finance, US Investor Relations & Strategy Tel. : +1 917-346-3447 [email protected]
The Trout Group U.S. Investor Relations Todd James Tel. : +1 646-378-2926 [email protected] Nathalie Donne
Director, Corporate Communication & Business Development Tel. : +33(0)1 55 42 78 78 [email protected]
Rooney & Associates Media Relations Marion Janic Tel. : +1-212-223-4017 [email protected]
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