Polyphor announces financial results for the first half 2020
Polyphor AG / Key word(s): Half Year Results
Allschwil, Switzerland, September 3, 2020
- Strong progress in Phase III balixafortide trial despite COVID-19; enrollment completion expected in the coming weeks
- Exclusive licensing agreement for balixafortide in China with Fosun Pharma
- Preparing to initiate Phase I study of inhaled murepavadin in Q4 2020
- Extended cash position with operations financed into Q3 2021.
"Despite the unprecedented challenges brought by the COVID-19 pandemic, Polyphor has made significant progress during the first half of 2020. Most notably, due to our proactive measures to safeguard patients, investigators and the study conduct of the Phase III balixafortide (FORTRESS) trial, we have been able to successfully continue the enrollment and execution of the program and expect to complete enrollment in the coming weeks", says Gokhan Batur, CEO of Polyphor. "We are very pleased with the exclusive licensing agreement for China with our new partner Fosun Pharma. This agreement is a strong recognition of the scientific value and commercial potential of balixafortide. Along with our diligent financial planning, this deal has extended our cash runway well into Q3 2021, with additional flexibility through an equity-linked financing arrangement with IRIS."
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1) based on the consolidated IFRS financial statements
End of ad hoc announcement
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