WILEX publishes Half-yearly Financial Report

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Munich, 14 July 2016 – WILEX AG (ISIN DE000A11QVV0 / WL6 / FSE) today published its financial report on the first six months of 2016 (1 December 2015 – 31 May 2016).

The focus in the first half-year was on the research activities of the subsidiary Heidelberg Pharma GmbH and its funding.

Dr Jan Schmidt-Brand, Spokesman of the Executive Management Board and CFO of WILEX AG, commented: “We are pleased with the progress we were able to make in the first half of 2016. We implemented further key steps in our funding strategy and our financial figures are in line with our planning. Furthermore, the development of our ATAC technology continues to make steady progress. Recently, we have increasingly worked on a new promising project – a therapeutic agent for multiple myeloma. Data from trials with animal models was presented at the Annual Meeting of the American Association for Cancer Research (AACR) in New Orleans in April, generating considerable interest. Our ATAC collaborative business also is developing positively.”

Financial results for the first six months of financial year 2016

The WILEX Group (WILEX) comprising WILEX AG and the subsidiary Heidelberg Pharma GmbH reports consolidated figures.

In the first six months of the 2016 financial year, WILEX generated sales revenue and income totalling EUR 1.9 million, down 17% on the previous year (EUR°2.3 million).

This figure includes sales revenue of EUR 0.9 million (previous year: EUR 1.3 million), for customer-specific research conducted by Heidelberg Pharma. The prior-year figure included income from a licence agreement with Roche for several ATAC candidates that ended in August 2015.

Other income of EUR 1.0 million was the same as the previous year and included a grant from the Federal Ministry of Education and Research (BMBF) for research projects (EUR 0.5 million) as well as the reversal of certain accrued liabilities that were not needed in the projected amount (EUR 0.3 million). Income of EUR 0.2 million was recorded in the context of the 2013 sale of former subsidiary WILEX Inc. to Nuclea Biotechnologies Inc.

Operating expenses including depreciation, amortisation and impairment losses amounted to EUR 4.3 million in the reporting period, slightly higher than the previous year (EUR 4.2 million). Except for the budgeted increase in research and development costs, all other operating expenses, such as cost of sales, administrative costs and other expenses, decreased.

The net loss for the first half of the year rose by 26% to EUR 2.4 million from EUR 1.9 million for the same period in 2015. Earnings per share amounted to EUR -0.22, which is above the prior-year figure (EUR -0.23), which is attributable to the higher number of shares as a result of the capital increases during the first half of 2016.

Cash and cash equivalents as of 31 May 2016 amounted to EUR 5.1 million (30 November 2015: EUR 1.3 million). WILEX’s average monthly funding requirement in the first six months of the financial year – excluding the capital increases – was EUR 0.46 million (previous year: EUR 0.28 million).

Due to the capital increases, total assets as of the end of the reporting period amounted to EUR 15.9 million, up from the figure of EUR 12.1 million shown as of the 30 November 2015 reporting date. Equity was EUR 13.7 million (30 November 2015: EUR 9.5 million), corresponding to an equity ratio of 85.9% (30 November 2015: 78.3%).

There is no change to the guidance for the WILEX Group for the current financial year issued at the end of March 2016.

Key figures for the WILEX Group

In EUR ‘000 H1 20161
EUR ‘000
H1 20151
EUR ‘000
Earnings    
Sales revenue 910 1,360
Other income 988 981
Operating expenses (4,273) (4,238)
of which research and development costs (2,797) (1,961)
Operating result (2,375) (1,898)
Earnings before tax (2,376) (1,896)
Net loss for the period (2,386) (1,896)
Earnings per share in EUR (0.22) (0.23)
     
Balance sheet as of end of period    
Total assets 15,948 17,139
Cash and cash equivalents 5,142 4,101
Equity 13,695 14,129
Equity ratio2 in % 85.9 82.4
     
Cash flow statement    
Cash flow from operating activities (2,435) (2,146)
Cash flow from investing activities (284) (32)
Cash flow from financing activities 6,587 4,109
     
Employees (number)    
Employees as of the end of the period3 53 51
Full-time equivalents as of the end of the period3 49 45

1 The reporting period begins on 1 December and ends on 31 May
2 Equity / total assets
3 Including members of the Executive Management Board
Rounding of exact figures may result in differences.

The full half-yearly financial report including the consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) was published at http://www.wilex.de/press-investors/financial-reports/.

Contact
WILEX AG
Sylvia Wimmer
Tel.: +49 (0)89-41 31 38-29
Email: investors[at]wilex.com
Grillparzerstr. 18, 81675 Munich
IR/PR support
MC Services AG

Katja Arnold (CIRO)
Tel.: +49 (0)89-210 228-40
Mobil: +49 (0)160 9360 3022
Email: katja.arnold[at]mc-services.eu

 

About WILEX and Heidelberg Pharma
WILEX AG is a biopharmaceutical company based in Munich, Germany, that serves as a parent and holding company for the Group. Research and development focus on the operations of its subsidiary Heidelberg Pharma GmbH in Ladenburg, which primarily advances the development of the innovative ADC platform technology based on the compound Amanitin (ATAC technology) and provides preclinical drug research and development services. WILEX has diagnostic and therapeutic Phase-III drug candidates, which are available for out-licensing to external partners. WILEX is listed at the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol WL6. More information is available at http://www.wilex.com/.

This communication contains certain forward-looking statements relating to the Company’s business, which can be identified by the use of forward-looking terminology such as “estimates”, “believes”, “expects”, “may”, “will”, “should”, “future”, “potential” or similar expressions or by a general discussion of the Company’s strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial position, earnings, achievements, or industry results, to be materially different from any future results, earnings or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

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