MolMed closes 2018 with improving results and declining losses.
Last year i revenues of the biotech company reached 28,5 million, up 23,7% compared to 23 million in 2017.
Il Operating income was negative by 3,9 million euro, an improvement compared to the loss of 8,15 million in 2017. The net loss it dropped from 8,5 million to 4,12 million euros.
Down there net financial position down from 18,1 million in 2017 to 16,5 million as at 31 December 2018. Last year the investments amounted to 1,74 million euro.
Riccardo Palmisano, CEO of MolMed, commented: "The results for 2018 confirm the trend observed throughout the year and show a clear improvement compared to 2017, with operating revenues close to 30 million euros and a halving of operating losses, which mainly depends on the increase in operating revenues and on careful management of priorities and costs”.
For the 2019 MolMed envisages "the continuation of the enrollment of patients in the phase III randomized pivotal study TK008 for the treatment of high-risk leukemia in association with haploidentical transplantation, pending the identification of a new partner with whom to start, as soon as possible, the commercial development of Zalmoxis® or to pursue direct marketing in some territories of the European Community”, reads the company note.
Speaking of the CAR-T CD44v6 project, the company expects to be able to start human clinical trials with the activation of the first phase I/II clinical study in blood cancers (AML and MM) by the first half of 2019.
The business plan also establishes the continuation of activities aimed at developing the proprietary pipeline, which had already begun in the first half of 2018 with the agreements with Glycostem and AbCheck. The board of directors has convened the shareholders' meeting for next 30 April.
A Business Square, the stock dropped 2,48% to 0,334 euro.
