Amsterdam Molecular Therapeutics (EuroNext Amsterdam: AMT), a leader in the field of human gene therapy, today provides its non-audited business update in compliance with the EU transparency directive. This report summarizes material events and AMT’s financial position for the third quarter of 2010.
Q3 2010 Highlights
· Glybera®:
- Responses to Day 120 questions of the EMA/CHMP will be submitted on schedule
- EMA formal review of dossier remains on track for 2011 decision.
· Successful fund raising of €14.3 million in new equity
Progression of Hemophilia B Phase I/II study with partner St Jude Children’s Research Hospital
microRNA: silencing gene therapy technology achieves 80% cholesterol reduction with activity limited only to the targeted hepatocytes
Supervisory Board strengthened through addition of 3 new industry professionals
Key financial figures in line with guidance
Cash & cash equivalents of € 10.1 million at September 30, 2010; equivalent to € 23.2 million on a pro forma basis after including the net proceeds of the October 2010 fund raising
Business Update
AMT’s cash position* on September 30, 2010 amounted to € 10.1 million compared to € 13.5 million on June 30, 2010. The cash outflow in the third quarter of 2010, amounting to € 3.4 million, compared to € 3.6 million in the prior year, mainly represented operational cash flow. AMT employed 84 persons as of September 30, 2010. Total expenses in the third quarter of 2010 were € 4.7 million compared to € 4.4 million in the same period last year.
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