EANS-News: SYGNIS announces Financial Results for fiscal year 2009/2010

@@start.t1@@--------------------------------------------------------------------------------   Corporate news transmitted by euro adhoc. The issuer/originator is solely   responsible for the content of this announcement. --------------------------------------------------------------------------------@@end@@

annual report

Heidelberg (euro adhoc) - Heidelberg, 29 June 2010 - SYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard) today announced its financial results for the 2009/2010 fiscal year, which ended on 31 March 2010.

Financial figures for the 2009/2010 fiscal year

@@start.t2@@•          Cash including marketable securities was down EUR6.8 million compared
with the previous year, to EUR15.5 million. Long-term financial liabilities
amounting to EUR8.0 million resulted from a loan that will not become payable
until 2015.
•          Net loss for the 2009/2010 fiscal year remains unchanged at EUR10.3
million as per the previous year.
•          Operational expenditure decreased to EUR9.2 million (2008/2009: EUR11.2
million) due to lower R&D expenses.
•          Financial result of -EUR1.8 million mainly due to unrealised losses on
marketable securities.@@end@@


@@start.t3@@o          One of the key milestones of the reporting period is the initiation of
about 80 study centres in eight European countries to participate in the
multinational phase II efficacy study for AX200 for the treatment of acute
o          In preclinical in vivo studies SYGNIS achieved proof of concept that
enhancement of the KIBRA pathway improves cognitive functions and working
o          SYGNIS made significant progress in strengthening its IP position on its
pipeline relating to AX200 as well as on the KIBRA project for drug development.

o          SYGNIS secured up to EUR10 million by entering into a three year Standby
Equity Distribution Agreement (SEDA) with the US investor Yorkville Advisors.@@end@@

Dr. Alfred Bach, CEO of SYGNIS Pharma, said: "SYGNIS looks back on a busy financial year with the backdrop of a challenging global economy. In spite of this, we achieved key milestones this year that have enabled us to make considerable progress in our efforts for SYGNIS´ sustainable development. In addition, we are optimistic that we will be able to acquire new projects by licensing or M&A transactions to extend our product and project portfolio in the near future."


SYGNIS expects a net loss of around EUR15 million for the current 2010/2011 fiscal year and a liquidity outflow of some EUR14 million.

The key focus for the upcoming months is the effective execution of the ongoing multinational phase II efficacy study with AX200. Initial results are expected to be available mid 2011. In addition, SYGNIS is consistently searching for projects and partnerships that are in line with its research approach and are a logical fit with the existing portfolio. The main requirement for such projects is that they are either already financed through to the next stage of development or can be used to obtain new financial resources.

For the annual report for the fiscal year ended 31 March 2010 and a presentation on SYGNIS´ annual results, please visit

About SYGNIS Pharma SYGNIS Pharma AG, headquartered in Heidelberg, is a specialty pharmaceutical company listed on the Prime Standard of the German stock exchange. The Company is focused on the research, development and marketing of innovative therapies for the treatment of disorders of the Central Nervous System. These include Stroke, Amyotrophic Lateral Sclerosis and neurological disorders resulting from injuries to the brain or spinal cord. 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.

One of the central elements in this value-creation chain is the continued expansion of the existing product pipeline. This is achieved by the development of new products as a result of SYGNIS´ own research and the inorganic growth through in-licensing agreements and acquisitions. By means of specific R&D programs at SYGNIS, new pre-clinical drug candidates are identified and evaluated as well as preclinical projects initiated, which are offered for inlicensing.

For further information please contact: SYGNIS Pharma AG: Dr. Franz-Werner Haas Vice President Operations +49 (0) 6221 454 812

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. ###

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ots Originaltext: SYGNIS Pharma AG
Im Internet recherchierbar:

Further inquiry note:
Dr. Franz-Werner Haas
Vice President Operations
Telefon: +49(0)6221 454-812

Branche: Biotechnology
ISIN:      DE0005043509
WKN:        504350
Index:    CDAX
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              Hannover / free trade
              München / free trade

Weitere Meldungen: SYGNIS AG

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