4SC provides Q1 2019 update
DGAP-News: 4SC AG / Key word(s): Quarterly / Interim Statement
4SC provides Q1 2019 update
Planegg-Martinsried, Germany, 18 April 2019 - 4SC AG (4SC, FSE Prime Standard: VSC) today published the Q1 Announcement 2019, presenting all material developments up to 31 March 2019 and the Company's current outlook. The full communication is available for download on 4SC's website.
Jason Loveridge, Ph.D., CEO of 4SC, commented: "4SC continued to deliver on its targets in the first quarter of 2019, moving our products through clinical trials and towards market approval. In particular, the SENSITIZE and EMERGE studies of domatinostat are progressing well and we expect data read-outs for both during the course of this year. Both studies are expected to provide the foundation for clinical trials in the aggressive rare skin cancer Merkel cell carcinoma (MCC). Furthermore, we have recruited more than two-thirds of patients in the pivotal RESMAIN study of resminostat in the rare cancer cutaneous T-cell lymphoma (CTCL), with positive safety outcomes so far, and expect top-line data in the first half of 2020."
Key highlights in Q1 2019 and beyond
Development of cash balance in Q1 2019 and financial forecast
As of 31 March 2019, 4SC holds cash balance/funds of EUR21.2 million as compared to EUR25.0 million as of 31 December 2018. The monthly use of cash from operations amounted to EUR1.263 million on average in the first quarter of 2019 (Q1 2018: EUR1.812 million) and was below the range of EUR1.4 million and EUR1.6 million forecast for 2019.
The decrease in the monthly use of cash as compared to Q1 2018, and the decrease in cash balance/funds in the first quarter of 2019 as compared to the end of 2018, were both predominantly due to costs for the ongoing clinical studies RESMAIN and SENSITIZE.
The Management Board of 4SC believes that these funds should be sufficient to finance 4SC into Q2 2020.
- Press release ends -
4SC AG is a clinical-stage biopharmaceutical company developing small-molecule drugs that target key indications in cancer with high unmet medical need. 4SC's pipeline is protected by a comprehensive portfolio of patents and currently comprises two drug candidates in clinical development: resminostat and domatinostat (4SC-202).
4SC aims to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies and/or the eventual marketing and sales of approved drugs in select territories by 4SC itself.
4SC is headquartered in Planegg-Martinsried near Munich, Germany. The Company had 47 employees as of 31 March 2019 and is listed on the Prime Standard of the Frankfurt Stock Exchange (FSE Prime Standard: VSC; ISIN: DE000A14KL72).
Information set forth in this press release contains forward-looking statements, which involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond 4SC's control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
18.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||801229|
|End of News||DGAP News Service|