WILEX AG Announces Adjustment of Guidance
Inside information according to Article 17 MAR
WILEX AG Announces Adjustment of Guidance
Ladenburg, Germany, 09 October 2017 - WILEX AG (ISIN DE000A11QVV0 / WL6 / FSE) today announced that it has adjusted its guidance for the current fiscal year, which was published in March 2017. Sales revenues are downward on the one hand due to deferred revenue arising under the Takeda agreement, as the first payment had to be split in favor of coming quarters. On the other hand there is a postponement of milestone payments from Link Health.
The WILEX Group expects to generate between EUR 2.0 million and EUR 3.0 million in sales revenue and other income (previously: EUR 4.0 million to EUR 6.0 million) for the 2017 fiscal year.
Operating expenses are now expected to be in the range of EUR 12.0 million to EUR 14.0 million (previously: EUR 11.0 million to EUR 15.0 million). This forecast has been adjusted to match the now much clearer detailed planning, which projects that some costs will not be incurred until next year. Based on these adjustments, earnings before interest and taxes (EBIT) is now expected to be between EUR -9.0 and EUR -11.0 million (previously: EUR -6.0 million to EUR -10.0 million).
WILEX expects to require funds of EUR 8.0 million to EUR 10.0 million in 2017 (previously: EUR 6.0 million to EUR 10.0 million). Monthly cash use thus is expected to be in the range of EUR 0.6 million to EUR 0.8 million (previously: EUR 0.5 million to EUR 0.8 million).
WILEX will require additional funds to implement the activities planned in connection with its proprietary ATAC projects. An amount of EUR 5.6 million is still available from the financing commitment from dievini, which can be accessed by the Company as part of corporate actions or in the form of loans. WILEX is evaluating a variety of financing options, taking into account the Company's research advances and business performance, as well as the market environment.
Based on the updated planning and the remaining funds from the financing commitment, the above mentioned facts will reduce the Company's cash reach (previously: end of the second quarter 2018). The Company believes it has sufficient funds to finance operations until the second quarter of 2018.
Due to this ad hoc-release, WILEX decided to publish its interim management statement today, instead of the originally planned date of 12 October 2017.
Person making the notification: Dr. Jan Schmidt-Brand, CEO and CFO
+++ End of the release +++
WILEX AG is a biopharmaceutical company based in Ladenburg, Germany, that serves as a parent and holding company. The Company's research and development work is conducted by its subsidiary Heidelberg Pharma Research GmbH in Ladenburg. Heidelberg Pharma Research GmbH is the first company to develop the toxin Amanitin into cancer therapies using its proprietary Antibody Targeted Amanitin Conjugate (ATAC) technology and to advance the biological mode of action of the toxin as a novel therapeutic principle. This proprietary technology platform is being applied to develop the company's own therapeutic ATACs as well as in third-party collaborations to create a variety of ATAC candidates. The proprietary lead candidate is a BCMA ATAC for multiple myeloma. WILEX's clinical assets MESUPRON(R) and REDECTANE(R) have been partnered, while RENCAREX(R) is available for out-licensing and further development. WILEX is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol WL6. More information is available at http://www.wilex.com/.
Contact WILEX AG Sylvia Wimmer Corporate Communications Tel.: +49 89 41 31 38-29 Email: investors[at]wilex.com Schriesheimer Str. 101, 68526 Ladenburg IR/PRsupportMC Services AG Katja Arnold (CIRO) Managing Director & Partner Tel.: +49 89 210 228-40 Mobile: +49 160 9360 3022 Email: katja.arnold[at]mc-services.eu
This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "will" "should" "future", "potential" or similar expressions or by a general discussion of the Company's strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial condition, performance, or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.
09-Oct-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: WILEX AG Grillparzerstr. 18 81675 München
Germany Phone: +49 (0)89 41 31 38 - 0 Fax: +49 (0)89 41 31 38 - 99 E-mail: email@example.com Internet: www.wilex.com ISIN: DE000A11QVV0 WKN: A11QVV Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News Service
617105 09-Oct-2017 CET/CEST