No revenues for Kiadis Pharma in the first 9 months 2015

November 27, 2015 Off By Dino Mustafić

Kiadis Pharma did not generate any revenues in the first nine months of 2015, the company said Friday.

The company focused on cell-based immunotherapy products for the treatment of blood cancers and inherited blood disorders said the net loss for the nine months ended 30 September 2015 came at a level of €13.1 million.

Kiadis Pharma said that the expenses and net results were in line with management expectations.

“The Company ended the first nine months of 2015 with €31.3 million in cash and cash equivalents and an equity position of €29.1 million,” it was said in the company’s press release, which has not been audited nor reviewed by the external auditor.

The company further informed that it listed its shares via an IPO on Euronext Amsterdam and Brussels on 2 July 2015. The gross proceeds from the IPO came to a total of €34.7 million and net proceeds came to a total of €31.2 million, the company concluded.

Kiadis further informed that it continued to make progress in developing its lead product ATIR101 for blood cancer.

According to the company, full enrolment of the ongoing Phase II clinical study (CR-AIR-007) with ATIR101 has been accomplished. The primary endpoint for the last patient in this trial will be reached at the end of Q1, 2016 and top-line results will follow at the beginning of Q2, 2016, Kiadis said.

“Another study (CR-AIR-008), testing repeat dose administration of ATIR101 in parallel with the ongoing Phase II trial, has been initiated and has enrolled its first patient,” company’s announcement reads.