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| Datum : | 13.05.2014 |
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DGAP-News: SYGNIS AG: SYGNIS reports results for the first quarter of 2014 |
| Meldung : | DGAP-News: SYGNIS AG / Key word(s): Quarter Results SYGNIS AG: SYGNIS reports results for the first quarter of 2014 13.05.2014 / 08:49 --------------------------------------------------------------------- Press Release SYGNIS reports results for the first quarter of 2014 - Operating expenses decreased by 32 percent - Net loss significantly reduced by 31 percent - Second technology deal signed (after period-end) - Further expansion of technology portfolio - Outlook confirmed Madrid, Spain and Heidelberg, Germany, May 13, 2014 - SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced its financial results for the first quarter of 2014, ended 31 March 2014. In the first quarter of 2014, revenues were EUR 0.1 million (Q1 2013: EUR 0.1 million). Operating loss significantly improved by more than 31% to EUR 0.8 million (Q1 2013: EUR 1.2 million) in Q1 2014, reflecting a decrease in operating expenses of more than 32% to EUR 0.9 million (Q1 2013: EUR 1.3 million). Operating expenses included sales, general & administrative costs of EUR 0.5 million as well as research & development costs of EUR 0.4 million. The decrease of operating costs mainly resulted from lower personnel costs of EUR 0.4 million (Q1 2013: EUR 0.7 million) due to a reduced headcount during the first quarter compared with the previous year period. The resulting net loss for the period was EUR 0.8 million, an improvement of 31% compared to the previous year period (Q1 2013: EUR 1.2 million). As of March 31, 2014, cash and cash equivalents amounted to EUR 1.2 million (31 December 2013: EUR 2.2 million). Total short term assets amounted to EUR 1.8 million (31 December 2013: EUR 2.5 million). In February 2014, SYGNIS announced that its licensing partner QIAGEN launched the first two products of a series of kits based on SYGNIS' proprietary amplification technology QualiPhi(R) now renamed SensiPhi(R). The two kits, REPLI-g WTA Single Cell Kit and REPLI-g Cell WGA & WTA Kit, are available now and will be commercialized globally through QIAGEN's established distribution channels. The product launches result from a global exclusive license agreement with QIAGEN signed in 2012. Yesterday, SYGNIS announced that it has signed a patent transfer agreement for some patents linked to the Double Switch project with SYSTASY Bioscience GmbH, a service provider in drug discovery. The transferred IP is part of a broader IP family covering SYGNIS' proprietary Double Switch technology for the qualitative and quantitative detection of the interactions of two proteins. Pilar de la Huerta, CEO and CFO of SYGNIS commented: "We are very happy about the financial and strategic progress we made during the first quarter. We were able to further increase our operational efficiency and in parallel, we achieved an important milestone with the launch of the first products based on our SensiPhi(R) technology. During the first quarter we also focused on the development of our technology pipeline. With PrimPol(R), an innovative polymerase for the amplification of DNA and RNA and QualiPhi(R) mutants we now have two exciting technologies ready for commercialization in the fast growing market of next generation sequencing. Moreover we are currently working on other innovative products and technologies in the molecular diagnostic field, which significantly will expand our technology portfolio. We continue to deliver on our objectives and have announced a second technology deal for our proprietary Double Switch technology for the analysis of protein-protein interactions. With the first products in the market and based on our exciting technology portfolio we feel very comfortable to achieve our financial and strategic goals and become one of the key players in the field of DNA amplification and sequencing." Outlook SYGNIS confirmed the outlook published on March 31, 2014. According to this guidance and depending on the market launch of additional products on SensiPhi(R) and on the success of commercialization activities, SYGNIS expects revenues in 2014 within a range of EUR 2.0 to EUR 2.5 million and net loss to be significantly reduced. In addition, beside the just signed patent agreement with SYSTASY, SYGNIS aims to conclude up to two additional commercial agreements for its products and technologies. The financial resources available as at 31 March 2014 and the expected cash inflow during the remaining fiscal year 2014 will provide SYGNIS with a liquidity that will cover the operating expenses until break-even, which is still estimated to be in 2015. [Numbers in EUR million] Q1 2014 Q1 2013 Revenues 0.1 0.1 Total Expenses 0.9 1.3 EBIT -0.8 -1.2 Net results for the period -0.8 -1.2 Operating Cash Flow -1.1 -0.9 Liquidity at period end 1.2 0.2 The interim report for the first quarter, ended 31 March 2014, is available at www.sygnis.de. For further information please contact: SYGNIS AG Pilar de la Huerta CEO/CFO Tel: +34 91 192 36 50 Email: pdelahuerta@sygnis.es About SYGNIS AG: www.sygnis.com After the merger in 2012 between X-Pol Biotech, specializing in DNA amplification and sequencing, and SYGNIS AG, listed in the German Stock Exchange (Prime Standard segment, Tick: LIO1; ISIN: DE000A1RFM03), SYGNIS' new mission is to develop and distribute technologies and products from X-Pol, which has a commercial product in the DNA amplification segment, SensiPhi(R) and is currently developing other products in the field of Next Generation Sequencing. ### Disclaimer This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason.### End of Corporate News --------------------------------------------------------------------- 13.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------- Language: English Company: SYGNIS AG Im Neuenheimer Feld 515 69120 Heidelberg Germany Phone: 06221 454-6 Fax: 06221 454-700 E-mail: contact@sygnis.de Internet: www.sygnis.de ISIN: DE000A1RFM03 WKN: A1RFM0 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 268007 13.05.2014 |
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