Relief Therapeutics Holding AG (SIX: RLF) announces its financial results for the five-month period ended May 31, 2016 Donnerstag, 04. August 2016 - 06:37
Zurich, Switzerland, August 4, 2016
Relief Therapeutics Holding AG (“Relief” or “the “Company”) announced today its consolidated financial results for the five-month period ended May 31, 2016.
For the five-months ended May 31, 2016, from both continuing and discontinued operations Relief generated income of EUR 3.5 million and negative EBITDA of EUR 1.4 million.
The Company is making this non-routine announcement in order to allow Pierrel SpA (Pierrel), one of its shareholders which is listed on the Milan stock exchange, to comply with its local reporting requirements in Italy. Until May 31, 2016, Relief was partially consolidated into the financial statements of Pierrel. Following completion of the recent business combination and of Relief’s capital increase announced on July 18, 2016, and the resulting dilution of Pierrel’s stake in the Company, Pierrel must now deconsolidate Relief and make the appropriate disclosures in its financial statements.
Relief plans to publish its consolidated financial statements for the half-year ended June 30, 2016 on or before September 30, 2016.
About RELIEF THERAPEUTICS Holding AG
RELIEF THERAPEUTICS Holding AG is a clinical stage biotechnology company with a portfolio of drug candidates derived from natural human origins. Its two most promising drug candidates are aviptadil for the treatment of sarcoidosis (already in Phase III) and low dose interleukin-6 (atexakin alfa) for the treatment of peripheral diabetic neuropathy (already in Phase II). Aviptadil development in sarcoidosis focuses the drug on an orphan disease market, in which European regulators have indicated that a single pivotal Phase III trial would be sufficient to support approval. Atexakin alfa is the subject of an exclusive worldwide development and commercialization agreement with Merck-Serono, a division of the global established pharmaceutical firm Merck KGaA, and has been the subject of multiple clinical trials and over €100 million in total capital investment. Based on its unique mechanism of action, atexakin alfa could become the first regenerative therapeutic for peripheral neuropathy. The peripheral diabetic neuropathy market is estimated to reach $4.1 billion in 2019, according to Datamonitor.
RELIEF THERAPEUTICS Holding AG is listed on the SIX Swiss Exchange under the symbol RLF and is headquartered in Zurich, Switzerland.
For further information, please see the new Relief website at www.relieftherapeutics.com or contact investor relations at:
Relief Therapeutics Holding AG
Investor Relations
Dr. Raghuram Selvaraju
Tel: +41 44 723 59 59
investors@relieftherapeutics.com
Disclaimer: This communication expressly or implicitly contains certain forward-looking statements concerning Relief Therapeutics Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Relief Therapeutics Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Relief Therapeutics Holding AG is providing this communication as of this date and does not undertake to update any forward looking statements contained herein as a result of new information, future events or otherwise.