Earnings Release • Nov 5, 2013
Earnings Release
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PRESS RELEASE
Lyon (France), November 5, 2013 – ERYTECH, (NYSE Euronext Paris: FR0011471135 - ERYP) a French biopharmaceutical company that develops innovative treatments for acute leukemia and other oncology indications with unmet medical needs, announces today its cash position and its revenues for the third quarter of 2013.
During the third quarter of fiscal year 2013, ERYTECH did not report any income from activities. Total revenues for the year to date are amounting to € 0.85 million, related to tax income credits for development activities.
On September 30, 2013, ERYTECH's cash and cash equivalents amounted to € 16.6 million. This compares to a cash position of € 18.5 million at the end of the second quarter of 2013. The use of cash in the third quarter of 2013 still contained € 0.6 million extraordinary expenses related to the IPO in May 2013.
These results are in line with the expectations and the strategy of the company which in 2013 remains totally focused on the clinical development of its innovative treatments for acute leukemia and other oncology indications in Europe and in the United States.
As a reminder, GRASPA®, ERYTECH's lead product is currently in the final phases of clinical development in Acute Lymphoblastic Leukemia (ALL) and Acute Myeloid Leukemia (AML) in Europe.
"During the third quarter of 2013, our second quarter as a listed company, ERYTECH has progressed well on all strategic value drivers put forward in the IPO. The completion of patient enrollment in our pivotal Phase III study in ALL, the rapid take-off of our Phase IIb study in AML and the granting of our core patent in the USA are some good examples hereof.", comments Gil Beyen, Chairman and CEO of ERYTECH.
Financial update for fourth quarter 2013 sales: February 11, 2014 (after market)
Created in Lyon in 2004, ERYTECH is a French biopharmaceutical company providing new prospects for cancer patients, particularly those with acute leukemia. Every year about 50,000 patients are diagnosed with Acute Lymphoblastic Leukemia (ALL) or Acute Myeloid Leukemia (AML), the two forms of acute leukemia. Today, for about 80% of these patients, mainly adults and relapsing patients, there is no adequate solution due to the toxicity of existing treatments, representing a market opportunity of more than EUR 1 billion. By encapsulating the asparaginase enzyme in red blood cells, ERYTECH has developed GRASPA®, an original and effective treatment that targets leukemia cells through "starvation" while significantly reducing the side effects for patients, and allowing all patients to be treated, even the most fragile ones. GRASPA® is currently completing Phase III clinical development in Acute Lymphoblastic Leukemia (ALL) and is in Phase IIb clinical trial in Acute Myeloid Leukemia (AML). ERYTECH has concluded distribution partnership agreements for Europe with Orphan Europe (Recordati Group), and with TEVA for Israel. In the United States, ERYTECH is launching a Phase Ib clinical trial in ALL, after having received approval from the US FDA. The company is also developing other indications in solid tumors and certain orphan indications outside oncology. ERYTECH has its own GMP-approved and operational manufacturing site.
ERYTECH is listed on NYSE Euronext regulated market in Paris. (ISIN code: FR0011471135, ticker: ERYP) and is part of the CAC Healthcare, CAC Pharm. & Bio and Next Biotech indexes.
This document may contain forward-looking statements and estimates with respect to the financial situation, the results of operations, the strategy, the project and to the anticipated future performance of ERYTECH and of the market in which it operates. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, "believes", "anticipates", "expects", "intends", "plans", "seeks", "estimates", "may", "will" and "continue" and similar expressions. They include all matters that are not historical facts. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable when made but may or may not prove to be correct. Actual events are difficult to predict and may depend upon factors that are beyond the Company's control. Therefore, actual results, the financial condition, performance or achievements of ERYTECH, or industry results, may turn out to be materially different from any future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Documents filed by ERYTECH Pharma with the French Autorité des Marchés Financiers (www.amf-france.org), also available on our website (www.erytech.com) describe such risks and uncertainties. Given these uncertainties, no representations are made as to the accuracy or fairness of such forwardlooking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of the publication of this document. ERYTECH disclaims any obligation to update any such forward-looking statement, forecast or estimates to reflect any change in the Company's expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement, forecast or estimate is based, except to the extent required by French law.
Gil Beyen Chairman and CEO Pierre-Olivier Goineau Vice President and COO Tel: +33 4 78 74 44 38 [email protected] NewCap.
Julien Perez / Emmanuel Huynh Investor and press relations Tel: +33 1 44 71 98 52 [email protected]
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