Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

SYGNIS Reports Results for the First Quarter of 2013

Published: Wednesday, May 15, 2013
Last Updated: Wednesday, May 15, 2013
Bookmark and Share
Company announced that operating expenses have decreased by more than 50 percent and that operating result is significantly improved.

SYGNIS Pharma AG announced its financial results according to IFRS for the first quarter of 2013, ending 31 March 2013.

In the first quarter of 2013, revenues amounted to €0.1 million; operating expenses amounted to €1.3 million. Operating expenses include sales, general & administrative costs of €0.6 million EUR as well as research & development costs of €0.7 million, focused on DNA amplification and sequencing. The resulting net loss for the period was €-1.2 million.

Due to the merger of SYGNIS with X-Pol Biotech (X-Pol) effective December 4, 2012, the results for the first quarter 2013 are not fully comparable to the financial results reported for the prior-year period. Following the reverse acquisition the first quarter of 2013 includes income and expenses of the old SYGNIS group and of XPol, while the first quarter of the previous year only records income and expenses of X-Pol.

Adjusted for this effect, i.e. assuming that the income and expenses of both parts of the business would have been fully taken into account already in the first quarter 2012, the pro forma comparison of periods shows a significant decrease in operating expenses by more than 50% to €1.3 million (pro forma Q1 2012: €2.7 million) and an improvement in the operating result of 70% to -€1.2 million (pro forma Q1 2012: €-4.0 million).

As of March 31, 2013, cash and cash equivalents amounted to €0.2 million (31 December 2012: €0.5 million). Funding of ongoing activities is currently secured until mid-year with loan commitments by the main shareholders. The Company has received in the first quarter of 2013 the first tranche (€0.1 million) of the loan given by the main shareholders Genetrix Life Sciences, A.B. and dievini Hopp BioTech holding GmbH & Co. KG.

Pilar de la Huerta, CEO and CFO of SYGNIS commented: "The first quarter was very successful for SYGNIS. Due to the implemented restructuring measures we were able to significantly reduce our cost base. At the same time we have reached important milestones in product development and in April we secured a key patent for our flagship product QualiPhi®.”


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More Than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
Liquid Biopsies: Utilization of Circulating Biomarkers for Minimally Invasive Diagnostics Development
Market Trends in Biofluid-based Liquid Biopsies: Deploying Circulating Biomarkers in the Clinic. Enal Razvi, Ph.D., Managing Director, Select Biosciences, Inc.
Self-Assembling, Biomimetic Membranes May Aid Water Filtration
A synthetic membrane that self assembles and is easily produced may lead to better gas separation, water purification, drug delivery and DNA recognition, according to an international team of researchers.
Researchers Discover Immune System’s 'Trojan Horse'
Oxford University researchers have found that human cells use viruses as Trojan horses, transporting a messenger that encourages the immune system to fight the very virus that carries it.
Crystal Clear Images Uncover Secrets of Hormone Receptors
NIH researchers gain better understanding of how neuropeptide hormones trigger chemical reactions in cells.
How Cholesterol Leads to Clogged Arteries
A new study shows that when immune cells called neutrophils are exposed to cholesterol crystals, they release large extracellular web-like structures that trigger the production of inflammatory molecules linked to artherosclerosis.
Genetic Tug of War
Researchers have reported on a version of genetic parental control in mice that is more targeted, and subtle than canonical imprinting.
Ultrafast DNA Diagnostics
New technology developed by UC Berkeley bioengineers promises to make a workhorse lab tool cheaper, more portable and many times faster by accelerating the heating and cooling of genetic samples with the switch of a light.
Researchers Discover New Type of Mycovirus
Virus infects the fungus Aspergillus fumigatus, which can cause the human disease aspergillosis.
Error Correction Mechanism in Cell Division
Cell biologists have reported an advance in understanding the workings of an error correction mechanism that helps cells detect and correct mistakes in cell division early enough to prevent chromosome mis-segregation and aneuploidy, that is, having too many or too few chromosomes.
How to Become a Follicular T Helper Cell
Uncovering the signals that govern the fate of T helper cells is a big step toward improved vaccine design.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!