{"id":453426,"date":"2021-03-09T07:03:26","date_gmt":"2021-03-09T12:03:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453426"},"modified":"2021-03-09T07:03:26","modified_gmt":"2021-03-09T12:03:26","slug":"hyloris-reports-full-year-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hyloris-reports-full-year-2020-financial-results\/","title":{"rendered":"Hyloris Reports Full Year 2020 Financial Results"},"content":{"rendered":"
\n

\n Hyloris Reports Full Year 2020 Financial Results <\/strong>\n <\/p>\n

On track to fuel the pipeline with \u22654 new product candidates in 2021<\/p>\n

Strong cash position of \u20ac64 million year-end to execute ambitious growth plan<\/p>\n

14 commercial products expected by 2024<\/p>\n

\n Conference call and webcast<\/u><\/a> today at 3pm CET\/9am ET (details below)<\/strong>\n <\/p>\n

\n Li\u00e8ge, Belgium \u2013 9 March 2021 \u2013 <\/strong>
\n Hyloris Pharmaceuticals SA (Euronext Brussels: HYL)<\/strong>, a specialty biopharma company committed to bringing innovative treatments that offer added value to underserved patient populations, today reports its consolidated financial results and a business update for the year ended 31 December 2020, recent achievements, and an outlook for 2021.<\/p>\n

\n Stijn Van Rompay, Chief Executive Officer of Hyloris, commented:<\/strong> \u201cI am extremely proud of the significant progress we have made across all areas of our business, which has set a strong foundation to execute our ambitious growth plan. We are committed to changing the lives of patients by applying our knowhow and innovative technologies to develop novel, value added medicines based on real-world data and our knowledge of established products. <\/strong>To achieve this goal and uncover underserved medical needs, we are in continuous dialogue with healthcare professionals, patient groups, payors and partners as well as leveraging our extensive sourcing network and R&D capabilities.\u201d<\/em><\/p>\n

\n \u201c<\/em>
\n In the coming months, we expect to further expand our diversified pipeline with the addition of at least three new product candidates, on top of the recently announced partnership with Purna Female Health<\/em>
\n care. Despite the global challenges brought on by the COVID-19 pandemic, all our pipeline programs are progressing well, and we are on track to report results from the pivotal study of Atomoxetine Oral Solution in ADHD later this year. Our commercial partners, AltaThera and AFT Pharmaceuticals, continue the roll-out of, respectively, Sotalol IV, a novel, patented IV solution to treat atrial fibrillation and Maxigesic<\/em>
\n \u00ae IV, a novel dual mode-of-action non-opioid pain treatment that, to date, is registered in 20 countries.\u201d<\/em>\n <\/p>\n

Hyloris will publish its 2020 Annual Report on 30 April 2021, which will be made available on the Investors<\/u><\/a> section of the Company\u2019s website.<\/p>\n

\n FINANCIAL HIGHLIGHTS 2020<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \u00a0<\/em>\n <\/td>\n\n Year ended 31 December<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
(in \u20ac thousand)<\/td>\n\n 2020<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\n Variance<\/strong>\n <\/td>\n<\/tr>\n
\n Revenues <\/strong>\n <\/td>\n\n 175<\/strong>\n <\/td>\n\n 91<\/strong>\n <\/td>\n\n 92%<\/strong>\n <\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0 Research and development expenses<\/td>\n(3,413)<\/td>\n(4,577)<\/td>\n(25%)<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0 General and administration expenses<\/td>\n(2,194)<\/td>\n(808)<\/td>\n172%<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0 Shares\u2019 issuance related expenses<\/td>\n(1,468)<\/td>\n–<\/td>\nNA<\/td>\n<\/tr>\n
\n Operating result<\/strong>\n <\/td>\n\n (7,025)<\/strong>\n <\/td>\n\n (5,274)<\/strong>\n <\/td>\n\n (25%)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0 Net financial result<\/td>\n(120)<\/td>\n(508)<\/td>\n76%<\/td>\n<\/tr>\n
\n Net result<\/strong>\n <\/td>\n\n (7,145)<\/strong>\n <\/td>\n\n (5,768)<\/strong>\n <\/td>\n\n (16%)<\/strong>\n <\/td>\n<\/tr>\n
\n Net operating cash <\/strong>
\n flow<\/strong>\n <\/td>\n		\n (4,570)<\/strong>\n <\/td>\n\n (4,562)<\/strong>\n <\/td>\n\n (0.2%)<\/strong>\n <\/td>\n<\/tr>\n
\n Cash and cash equivalents<\/strong>\n <\/td>\n\n 64,399<\/strong>\n <\/td>\n\n 205<\/strong>\n <\/td>\n\n NA<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n OPERATIONAL REVIEW 2020<\/strong>\n <\/p>\n

\n R&D and regulatory <\/strong>
\n
\u00a0\u00b7Sotalol IV<\/strong>, a novel, patented intravenous (IV) solution for the treatment of atrial fibrillation \u2013 partnered with AltaThera in the U.S.<\/strong>
Sotalol IV is a novel IV formulation of Sotalol tablets that can dramatically reduce the length of hospital admission (three to one day), and potentially significantly reduce overall cost of care, while at the same time improve tolerability and patient outcomes. Moreover, the IV formulation allows for a faster onset of activity, which is crucial in acute hospital settings. The use of Sotalol IV is included in the \u201cAmerican Heart Association Guidelines for Cardiopulmonary Resuscitation and Emergency Cardiovascular Care\u201d<\/p>\n