Molecular Partners Publishes Audited Financial Results for 2019 and Annual Report 2019

ZURICH-SCHLIEREN, SWITZERLAND / ACCESSWIRE / March 20, 2020 / Molecular Partners AG (SIX:MOLN), a clinical-stage biotech company that is developing a new class of drugs known as DARPin® therapies, today published its audited Financial Results for 2019 and the company’s 2019 Annual Report.

The Audited Financial Results for 2019 and the company’s 2019 Annual Report are available on the investors section of the company’s website.

Audited Key Figures for FY 2019

(CHF million, except per share, FTE data)
  FY 2019     FY 2018     change  
 
                 
Total revenues
    20.4        10.4        10.0  
R&D expenses
    (43.5 )     (38.2 )     (5.3 )
SG&A expenses
    (13.5 )     (9.6 )     (3.9 )
Operating result
    (36.7 )       (37.4 )     0.7  
Net financial result
    0.4       0.4       0.0  
Net result
    (36.3       (37.0 )     0.7  
Basic net result per share (in CHF)
    (1.69 )     (1.75 )     0.06  
 
                       
Net cash from (used in) operating activities
    (1.2 )     (42.5 )     41.3  
Cash balance (incl. short-term deposits) as of Dec. 31
    95.1       99.0       (3.9 )
 
                       
Total shareholders’ equity as of Dec. 31
    54.1       91.7       (37.6 )
 
                       
Number of total FTE as of Dec. 31
    135.2       117.7       17.5  

Note: In completing the Annual Report the preliminary amounts for 2019 R&D expenses reported on February 6, 2020, have been reduced by approximately CHF 0.5 million.

Financial Calendar

April 29, 2020
Annual General Meeting
May 7, 2020
Interim Management Statement Q1 2020
August 26, 2020
Publication of Half-year Results 2020 (unaudited)
October 29, 2020
Interim Management Statement Q3 2020

http://investors.molecularpartners.com/financial-calendar-and-events/

About the DARPin® Difference

DARPin® therapeutics are a new class of protein therapeutics opening an extra dimension of multi-specificity and multi-functionality. DARPin® candidates can engage more than five targets, offering potential benefits over those offered by conventional monoclonal antibodies or other currently available protein therapeutics. The DARPin® technology is a fast and cost-effective drug discovery engine, producing drug candidates with ideal properties for development and very high production yields.

With their low immunogenicity and long half-life in the bloodstream and the eye, DARPin® therapeutics have the potential to advance modern medicine and significantly improve the treatment of serious diseases, including cancer and sight-threatening disorders. Molecular Partners is partnering with Allergan to advance clinical programs in ophthalmology and is advancing a proprietary pipeline of DARPin® drug candidates in oncology and immuno-oncology. The most advanced global product candidate in partnership with Allergan is abicipar, a molecule for which phase 3 data have been filed to the respective regulators in both the US and in Europe. Several DARPin® molecules for various ophthalmic indications are also in preclinical development. The most advanced DARPin® therapeutic candidate wholly owned by Molecular Partners, MP0250, is in phase 2 clinical development for the treatment of hematological tumors. MP0274, the second-most advanced DARPin® candidate owned by Molecular Partners, binds to Her2 and inhibits downstream signaling, which leads to induction of apoptosis. MP0274 is currently in phase 1. The company’s lead immuno-oncology product candidate MP0310 is a FAP x 4-1BB multi-DARPin® therapeutic candidate designed to locally activate immune cells in the tumor by binding to FAP on tumor stromal cells (localizer) and co-stimulating T cells via 4-1BB (immune modulator). Molecular Partners has closed a collaboration agreement with Amgen for the exclusive clinical development and commercialization of MP0310. The molecule has entered in phase 1 of clinical development in H2 2019. MP0317 (FAP x CD40), the second tumor-localized immune agonist stemming from the company’s “I/O toolbox”, has been nominated as next DARPin® protein in Molecular Partners’ immuno-oncology pipeline. Molecular Partners is further advancing a growing preclinical and research pipeline in immuno-oncology and additional development programs such as novel therapeutic designs to target peptide-MHC complexes. DARPin® is a registered trademark owned by Molecular Partners AG.

About Molecular Partners AG

Molecular Partners AG is a clinical-stage biotech company that is developing a new class of therapies known as DARPin® therapeutics. The company continues to attract talented individuals who share the passion to develop breakthrough medicines for serious diseases. Molecular Partners has compounds in various stages of clinical and preclinical development and several more in the research stage, with a current focus on oncology and immuno-oncology. The company establishes research and development partnerships with leading pharmaceutical companies and is backed by established biotech investors.

For more information regarding Molecular Partners AG, go to: www.molecularpartners.com.

For further details, please contact:

Seth Lewis, SVP IR, Comms, & Strategy
[email protected]
Tel: +1 781 420 2361

Lisa Raffensperger, International Media
[email protected]
Tel: +1 617 903 8783

Thomas Schneckenburger, IR & Media
[email protected]
Tel: +41 44 755 5728

Disclaimer

This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Molecular Partners AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly not in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments or intentions.

SOURCE: Molecular Partners AG

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