Regeneus Half-Year Announcement
Sydney, Feb 19, 2015 AEST (ABN Newswire) - Regenerative medicine company, Regeneus Ltd (
ASX:RGS), today reported its financial results for the half-year ended 31 December 2014.
During the 6 month period, the company made good progress on the development of its portfolio of cell-based therapies for the treatment of musculoskeletal disease and oncology conditions in humans and animals.
The financial highlights for the reporting period included:
- Revenues up 46% to $1.14m driven by increased product and R&D licensing activities
- Net loss down 10% to $5.75m
- Net operating cash outflows of $1.96m reduced significantly, compared to outflows of $3.85m during the previous half-year corresponding period
- Successful capital raising completed, net of costs of $6.17m
- $3.73m R&D tax incentive received
- Cash at 31 December 2014, $6.74m
- Cash containment measures implemented (savings in excess of $1.7m pa)
In the second-half of the financial year, the company remains focused on unlocking the value in its product portfolio with the following activities:
- partnering its clinical-stage veterinary products: Kvax, its autologous canine cancer vaccine that is in marketing trials in US and Australia; and CryoShot, its allogeneic off-theshelf stem cell therapy for canine and equine osteoarthritis;
- commencing its first in man trials for its human products: Progenza, its allogeneic off-theshelf stem cell therapy for human osteoarthritis; and its autologous human cancer vaccine;
- licensing HiQCell, its autologous stem cell therapy for human osteoarthritis; and
- partnering its stem cell secretions cream for the treatment of acne and other inflammatory skin conditions.
To view the half year report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RGS-843446.pdf
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies. The regenerative therapies seek to address unmet medical needs in human health markets, focusing on neuropathic pain, including osteoarthritis and various skin conditions, with its platform technologies Progenza(TM) and Sygenus. Visit www.regeneus.com.au for more information.
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