Satellite Banner
Next Gen Sequencing
Scientific Community
 
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

Join For Free

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 4,000+ scientific posters on ePosters
  • More than 5,300+ 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
Big Genetics in BC: The American Society for Human Genetics 2016 Meeting
Themes at this year's meeting ranged from the verification, validation, and sharing of data, to the translation of laboratory findings into actionable clinical results.
Cancer Genetics: Key to Diagnosis, Therapy
When applied judiciously, cancer genetics directs caregivers to the right drug at the right time, while sparing patients of unnecessary or harmful treatments.
Accelerating the Detection of Foodborne Bacterial Outbreaks
The speed of diagnosis of foodborne bacterial outbreaks could be improved by a new technique developed by researchers at the Georgia Institute of Technology.
Antibiotics Discovered While Sifting Through Human Microbiome
Researchers identify genes in a microbe’s genome that produce antibiotic compounds, then synthesize them without the need for bacterial culture.
A Genome-wide View of Human DNA Viruses
In this study, Duplex sequencing was used to accurately analyse the genome-wide rate of spontaneous mutation of human adenovirus C5 (HAdv5).
Peer Review is in Crisis, But Should be Fixed, Not Abolished
After the time to get the science done, peer review has become the slowest step in the process of sharing studies, and some scientists have had enough.
Rare Immunodeficiency Yields Unexpected Insights
Scientists uncover previously unknown gene mutation revealing the role of a key molecule involved in immune cell development.
Illumina Contributes to ClinVar Database
The contribution includes variants of all classifications, from pathogenic to benign, identified during interpretation of whole genome sequences generated in the CLIA-certified, CAP-accredited Illumina Clinical Services Laboratory.
Agilent Presents Early Career Professor Award to Dr. Roeland Verhaak
JAX professor recognized for the development and implementation of workflows for the analysis of big-data from transcriptomics to next generation sequencing approaches.
Integrated Omics Analysis
Studying multi-omics promises to give a more holistic picture of the organism and its place in its ecosystem, however despite the complexities involved those within the field are optimistic.
Skyscraper Banner

SELECTBIO Market Reports
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
4,000+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,300+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!