THERAMetrics holding AG (SIX: TMX) announces today its financial results for 2013 within the extended deadline granted by SIX Exchange Regulation Donnerstag, 15. Mai 2014 - 06:25
Stans, Switzerland - May 15, 2014
THERAMetrics holding AG (SIX: TMX) (the “Company”) today published - within the extended deadline granted by SIX Exchange Regulation ("SIX") on 29 April 2014 - its financial results for the year 2013.
For the year ended 31 December 2013 the Company and its subsidiaries (the “Group”) generated revenues of EUR 16.9 million (2012: EUR 28.9 million) and incurred operating expenses EUR 24.6 million (2012: EUR 28.2 million), resulting in EBITDA of negative EUR 7.7 million (2012: positive EUR 0.7 million). The net loss of EUR 10 million (2012: net loss of EUR 1.1 million) for the year results in negative earnings per share of EUR 0.058 (2012: EUR 0.016).
Despite austerity measures resulting in a decrease of EUR 3.6 million in operating expenses, the Company’s profitability was adversely impacted by a decline of EUR 12 million in revenues mainly caused by a failure to substitute expiring contracts with new ones during a time of substantial corporate restructuring. Results have also been negatively impacted by substantial transaction costs for the business combination (reverse takeover) between the Company and Pierrel Research International AG.
Most recently the management has been strengthened by the arrival of new CFO and Head of Global HR. It is the management’s opinion that continued austerity measures combined with an aggressive plan to regain revenue levels, together with additional planned capital increases from the majority shareholder, will allow the continuation of the Group as a going concern.
In 2014, the Group will focus on improving the effectiveness and profitability of the clinical research services activity by seamless execution of potential-driven strategies. Furthermore, the Group will enhance its execution of recently started marketing efforts for its powerful bio-mathematical ”DRR 2.0” drug repurposing and repositioning engine both as a stand-alone and as a potential accelerator of the clinical research services activity. The Group will also concentrate on its existing pipeline of Medicinal Product Candidates (“MPCs”), with the aim of finalizing agreements aimed at their licensing.
The annual report 2013 is available here.
About THERAMetrics
THERAMetrics holding AG and its subsidiaries are a global tech-based
company Contract Research and Development Organization dedicated to
provide an exclusive technological set of services and solutions to
biotech, biopharma and pharmaceutical companies throughout the
innovative drug discovery and development value chain with the aim of
screening potential drugs in silico biosystems, allowing therapies in
virtual patients and predicting real world outcomes and costs. The
headquarter is located in Stans (Switzerland) which is also the European
operational headquarter while the North American one is in Wayne NJ
(Usa).
For further information please contact
THERAMetrics holding AG
Investor and External Relations
Tel.: +41 79 37 19 184
investor@therametrics.com
www.therametrics.com
Disclaimer
This communication expressly or implicitly contains certain
forward-looking
statements concerning THERAMetrics 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 THERAMetrics holding AG to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. THERAMetrics 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.