SYGNIS AG

EANS-News: SYGNIS Pharma AG
SYGNIS announces three months results of fiscal year 2011/2012


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3-month report


Heidelberg (euro adhoc) - SYGNIS announces three months results of fiscal year
2011/2012


    • Financing secured until end of 2012
    • Patient recruitment of AXIS Study is now finalised
    • Patent rights for the KIBRA project further strengthened
Heidelberg,  August  11,  2011  -  SYGNIS  Pharma  AG  (Frankfurt:  LIOK;   ISIN
DE000A1E9B74; Prime Standard) today reports its financial results for the  first
quarter of the fiscal year 2011/2012 ended June 30, 2011.

Financials


    • The net loss in the  first  quarter  decreased  to  EUR-1.3  million
      (EUR-2.3 million Q1 2010/2011). Financial result was EUR0.7 million
      (EUR0.1 million  Q1 2010/2011).
    • Total operating expenses for the first quarter were down at  EUR2.2
      million (EUR2.5 million Q1 2010/2011).
    • Cash including marketable securities amounted to EUR4.8 million as  of
      June 30, 2011 (EUR13.1 million Q1 2010/2011).    
    • Mid June 2011, SYGNIS secured additional funds of EUR6.0 million through
      the subordinated loan of dievini Hopp BioTech holding GmbH  &  Co.  KG.
      These funds have been invested as part of the capital increase resolved
      in  July 2011. Accordingly, dievini´s commitment to pay out the loan was
      dissolved in full. At the end of the subscription period, 3,076,623 new
      shares have been subscribed and thus the share capital increased from
      EUR13,752,881 to EUR16,829,504.
    • Long term financial liabilities amounted to EUR8.0 million resulting
      from  a loan which is not due for repayment before 2015.


Significant events after the balance sheet date


    • During the first quarter, the patient recruitment for  the  AXIS  2  Study
      performed well. On 8 August 2011,  the  last  patient  was  recruited  and
      SYGNIS thus completed the patient enrolment successfully.
    • Within the KIBRA project SYGNIS has taken meaningful steps with regard  to
      the patent situation. The European Patent Office and  the  US  Patent  and
      Trademark Office have now issued elementary  KIBRA  patents.  Both  Patent
      Offices have thus realised their announcements of May 2011.
Outlook

SYGNIS confirms its expectations of a  net  loss  and  a  liquidity  outflow  of
around  EUR9  million  for  the  current  2011/2012  fiscal  year.  Including 
the financial funds of EUR6.2 million from the capital increase,  SYGNIS  is 
financed until the end of calendar year 2012.

The key operational focus for the upcoming months is the analysis of the AXIS  2
Study data. First substantial results are expected to be available  by  the  end
of calendar year 2011.  Dependent  on  these  results,  the  Company  will  then
evaluate the options for any further development of  AX200  and  take  necessary
measures. This will include a possible out-licensing or the further  development
of the project with its own resources.

Within the KIBRA project, SYGNIS will continue its  screening  activities,  with
the first possible drug  candidates  expected  to  be  identified  in  the  2011
calendar year. These results should enable  SYGNIS  to  enter  into  a  research
partnership or  to  further  develop  suitable  drug  candidates  with  its  own
resources.


In addition the Company  continues  to  evaluate  opportunities  to  extend  its
product pipeline through partnerships or strategic transactions.


|Key financial figures for the first quarter of fiscal year         |
|2011/2012 ended June 30, 2011 and corresponding figures (IFRS)     |
|Numbers in million euros          |Q1 2011/2012    |Q1 2010/2011    |
|Revenues                          |0.1             |0.1             |
|Total expenses                    |2.2             |2.5             |
|EBIT                              |-2.1            |-2.4            |
|Net results for the period        |-1.3            |-2.3            |
|Intangible assets                 |20.6            |21.8            |
|Liquidity at end of quarter       |4.8             |13.1            |
|Equity                            |15.6            |27.7            |
|(equity ratio in %)               |(52)            |(69)            |
|Long-term financial liabilities   |8.0             |8.0             |
|Operating Cash Flow               |-2.0            |-2.3            |


The report on the first quarter which ended on June 30,  2011  is  available  at
the SYGNIS webpage at www.sygnis.de.



About SYGNIS Pharma
SYGNIS Pharma AG, headquartered in Heidelberg,  is  a  specialty  pharmaceutical
company listed in the Prime  Standard  of  the  Frankfurt  Stock  Exchange.  The
Company is focused on the research and development of innovative  therapies  for
the treatment of disorders of the Central Nervous System. SYGNIS´ core  projects
are currently Acute Stroke for which SYGNIS´ lead clinical programme  is  AX200,
as well as the preclinical KIBRA-project for the treatment  of  different  forms
of dementia. All these disorders are characterized by  the  fact  that,  as  the
disease progresses, nerve cells are damaged and die.  Although  there  is  great
medical demand, there are currently no  or  only  inadequate  treatment  options
available. Furthermore, a key element of the sustainable value creation  of  the
Company is the expansion of the product pipeline, which will be secured  through
its own developments as well as in-licensing and acquisitions.


For further information please contact:
SYGNIS Pharma AG:

|Dr. Franz-Werner Haas                  |
|Senior Vice President Operations       |
|+49 (0) 6221 454 812                   |
|franz-werner.haas@sygnis.de         |

 Media-Contact:
Julia Phillips
Financial Dynamics
Tel.: +44 (0) 20 7269 7187


###
Disclaimer
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  Pharma  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.
###


Further inquiry note:
Michael Wolf
Telefon: +49 (6221) 454 - 6
E-Mail: Michael.Wolf@sygnis.de

end of announcement                               euro adhoc 
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company:     SYGNIS Pharma AG
             Im Neuenheimer Feld 515
             D-69120 Heidelberg
phone:       +49 (0)6221 454-6
FAX:         +49 (0)6221 454-777
mail:     contact@sygnis.de
WWW:      http://www.sygnis.de
sector:      Biotechnology
ISIN:        DE000A1E9B74
indexes:     CDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, Hannover, München 
language:   English
 

 

 



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