{"id":2523,"date":"2016-10-31T00:00:00","date_gmt":"2016-10-30T23:00:00","guid":{"rendered":"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/"},"modified":"2019-01-13T16:39:44","modified_gmt":"2019-01-13T15:39:44","slug":"31-10-16-noxxon-releases-its-interim-2016-results","status":"publish","type":"post","link":"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/","title":{"rendered":"NOXXON Releases its Interim 2016 Results"},"content":{"rendered":"


<\/strong><\/p>\n

Berlin, Germany, October 31, 2016 –<\/strong> NOXXON Pharma N.V. (Alternext Paris: ALNOX), a biotechnology company whose core focus is on cancer treatment, has today released its interim 2016 results for the six months to June 30, 2016.<\/p>\n

First-half 2016 financial statements (IFRS)<\/strong>
In the first half of 2016 (H1 2016), NOXXON Pharma\u2019s revenue came to K\u20ac 32 (vs. K\u20ac 23 in H1 2015). NOXXON Pharma devoted the bulk of its resources to research and development (R&D). The corresponding expenses are shown below. Lower R&D costs and general & administrative costs and higher finance cost accounted for the main differences between H1 2016 and H1 2015.<\/p>\n

The decrease in R&D costs to \u20ac3.2 million in H1 2016 (vs. \u20ac3.9 million in H1 2015) chiefly reflected lower staff costs following an internal restructuring in July 2015. General & administrative costs also recorded a substantial decline to \u20ac2.4 million in H1 2016 (vs. \u20ac3.4 million in H1 2015) owing to the restructuring and the steep reduction in fees for legal and other advice. These had increased significantly in 2015 in connection with a financial transaction.<\/p>\n

The finance cost and income were due primarily to the fact that loan agreements were substantially modified, which did not result in a change in cash for the company. Interest expenses actually paid were K\u20ac 335. It should be noted that events after the balance sheet date resulted in a new agreement under which the \u20ac7.0 million of \u20ac9.6 million debt has been converted to equity and the remainder can be converted by the company upon raising of \u20ac2.6 million additional financing.<\/p>\n

The net loss recorded in the first six months to June 30, 2016 came to \u20ac8.0 million (vs. \u20ac7.9 million in the six months to June 30, 2015). At June 30, 2016, cash and cash equivalents amounted to \u20ac1.8 million, compared with \u20ac4.1 million at December 31, 2015.<\/p>\n

Consolidated income statement<\/span><\/b><\/span><\/b><\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

In thousands of euros<\/i><\/span><\/p>\n<\/td>\n

\n

June 30, 2016<\/b><\/span><\/p>\n<\/td>\n

\n

June 30, 2015<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Revenues<\/b><\/span><\/p>\n<\/td>\n

\n

32<\/b><\/span><\/p>\n<\/td>\n

\n

23<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other operating income<\/span><\/p>\n<\/td>\n

\n

209<\/span><\/p>\n<\/td>\n

\n

35<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Research and development expenses<\/span><\/p>\n<\/td>\n

\n

(3,197)<\/span><\/p>\n<\/td>\n

\n

(3,933)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

General and administrative expenses<\/span><\/p>\n<\/td>\n

\n

(2,395)<\/span><\/p>\n<\/td>\n

\n

(3,439)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Foreign exchange losses<\/span><\/p>\n<\/td>\n

\n

(6)<\/span><\/p>\n<\/td>\n

\n

(28)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss from operations<\/b><\/span><\/p>\n<\/td>\n

\n

(5,357)<\/b><\/span><\/p>\n<\/td>\n

\n

(7,342)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Finance cost<\/span><\/p>\n<\/td>\n

\n

(11,603)<\/span><\/p>\n<\/td>\n

\n

(589)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Finance income<\/span><\/p>\n<\/td>\n

\n

8,976<\/span><\/p>\n<\/td>\n

\n

0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss before income tax<\/b><\/span><\/p>\n<\/td>\n

\n

(7,984)<\/b><\/span><\/p>\n<\/td>\n

\n

(7,931)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Income tax<\/span><\/p>\n<\/td>\n

\n

(26)<\/span><\/p>\n<\/td>\n

\n

(1)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net loss<\/b><\/span><\/p>\n<\/td>\n

\n

(8,010)<\/b><\/span><\/p>\n<\/td>\n

\n

(7,932)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

\n <\/div>\n\n","protected":false},"excerpt":{"rendered":"

NOXXON Pharma Announces New Preclinical Data Showing Synergy of Lead Compound NOX-A12 With Natural Killer (NK) Cell Mediated Therapies <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"yoast_head":"\nNOXXON Releases its Interim 2016 Results - Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NOXXON Releases its Interim 2016 Results - Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG\" \/>\n<meta property=\"og:description\" content=\"NOXXON Pharma Announces New Preclinical Data Showing Synergy of Lead Compound NOX-A12 With Natural Killer (NK) Cell Mediated Therapies \" \/>\n<meta property=\"og:url\" content=\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-30T23:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-01-13T15:39:44+00:00\" \/>\n<meta name=\"author\" content=\"norman.krey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"norman.krey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/\"},\"author\":{\"name\":\"norman.krey\",\"@id\":\"https:\/\/dewb.de\/en\/#\/schema\/person\/cb0cb52ffda9ccee617de58788f6cb2b\"},\"headline\":\"NOXXON Releases its Interim 2016 Results\",\"datePublished\":\"2016-10-30T23:00:00+00:00\",\"dateModified\":\"2019-01-13T15:39:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/\"},\"wordCount\":326,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/dewb.de\/en\/#organization\"},\"articleSection\":[\"Portfolio News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/\",\"url\":\"https:\/\/dewb.de\/en\/31-10-16-noxxon-releases-its-interim-2016-results\/\",\"name\":\"NOXXON Releases its Interim 2016 Results - 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