Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > OctoPlus publishes third quarter business update

Abstract:
OctoPlus N.V. ("OctoPlus" or the "Company") (Euronext: OCTO), today publishes a business update for the third quarter of 2009.

OctoPlus publishes third quarter business update

The Netherlands | Posted on November 9th, 2009

Highlights

Financial
- Positive operating result (EBIT) achieved for the third quarter, driven by strong third quarter revenues and cost savings
- Revenues for the first nine months of 2009 are well in line with guidance for the full year of €19 million

Operational
- Two substantial contract development service contracts signed in August and September, including one with a European mid-sized pharma company
- Expansion of drug delivery evaluation contract with an existing client signed in September
- Phase IIb clinical study with Locteron® ongoing: OctoPlus awaits top-line results from licensee Biolex
- Restructuring of the organisation is proceeding as planned

Strategy
- International adoption of OctoPlus' controlled release technology with growing number of evaluations by both small and large (bio)pharmaceutical companies

Outlook
- OctoPlus reiterates the expected 2009 revenues of approximately €19 million

Simon Sturge, CEO of OctoPlus comments: "I am delighted to be able to report an operating profit for the third quarter of 2009, whereas we reiterate that we do not expect to achieve a positive cash flow in the second half of the year. Revenues in the first nine months of 2009 have been in line with expectations and we are very excited about the additional clients that have decided to work with us during the third quarter. Our restructured organisation has positioned the Company for a promising future."

This document may contain certain forward-looking statements relating to the business, financial performance and results of OctoPlus and the industry in which it operates. These statements are based on OctoPlus' current plans, estimates and projections, as well as its expectations of external conditions and events. In particular the words "expect", "anticipate", "predict", "estimate", "project", "plan", "may", "should", "would", "will", "intend", "believe" and similar expressions are intended to identify forward-looking statements. We caution investors that a number of important factors, and the inherent risks and uncertainties that such statements involve, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements. In the event of any inconsistency between an English version and a Dutch version of this document, the English version will prevail over the Dutch version.

####

About OctoPlus N.V.
OctoPlus is a drug delivery service company committed to the creation of improved pharmaceutical products that are based on OctoPlus' proprietary drug delivery technologies and have fewer side effects, improved patient convenience and a better efficacy/safety balance than existing therapies. OctoPlus focuses on the development of long-acting, controlled release versions of known protein therapeutics, other drugs, and vaccines on behalf of its clients.

The clinically most advanced product incorporating our technology is Biolex Therapeutics' lead product Locteron®, a controlled release formulation of interferon alpha for the treatment of chronic hepatitis C. OctoPlus licensed Locteron exclusively to Biolex in October 2008. Locteron is being manufactured for Biolex by OctoPlus and is currently in Phase IIb clinical studies.

In addition, OctoPlus is a leading European provider of advanced drug formulation and clinical scale manufacturing services to the pharmaceutical and biotechnology industries, with a focus on difficult-to-formulate active pharmaceutical ingredients.

OctoPlus is listed on Euronext Amsterdam by NYSE Euronext under the symbol OCTO. For more information about OctoPlus, please visit our website www.octoplus.nl.

For more information, please click here

Contacts:
Rianne Roukema
Corporate Communications
+31 (71) 524 1071

Copyright © OctoPlus N.V.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

A new, tunable device for spintronics: An international team of scientists including physicist Jairo Sinova from the University of Mainz realises a tunable spin-charge converter made of GaAs August 29th, 2014

Nanoscale assembly line August 29th, 2014

New analytical technology reveals 'nanomechanical' surface traits August 29th, 2014

New Vice President Takes Helm at CNSE CMOST: Catherine Gilbert To Lead CNSE Children’s Museum of Science and Technology Through Expansion And Relocation August 29th, 2014

Nanomedicine

Nanoscale assembly line August 29th, 2014

Copper shines as flexible conductor August 29th, 2014

Novel 'butterfly' molecule could build new sensors, photoenergy conversion devices August 28th, 2014

PetLife Comments on CNN Story on Scorpion Venom Health Benefits August 27th, 2014

Announcements

A new, tunable device for spintronics: An international team of scientists including physicist Jairo Sinova from the University of Mainz realises a tunable spin-charge converter made of GaAs August 29th, 2014

Nanoscale assembly line August 29th, 2014

New analytical technology reveals 'nanomechanical' surface traits August 29th, 2014

New Vice President Takes Helm at CNSE CMOST: Catherine Gilbert To Lead CNSE Children’s Museum of Science and Technology Through Expansion And Relocation August 29th, 2014

Financial Reports

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Arrowhead Reports Fiscal 2014 Third Quarter Financial Results and Provides Update on ARC-520 August 12th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Harris & Harris Group Reports Financial Statements as of June 30, 2014 August 10th, 2014

Alliances/Partnerships/Distributorships

Leading European communications companies and research organizations have launched an EU project developing the future 5th Generation cellular mobile networks August 28th, 2014

JPK expands availability of instrumentation in the USA – appointing new distributors – launched a new web site to support the US market - AFM now available to US users August 26th, 2014

Sunblock poses potential hazard to sea life August 20th, 2014

SouthWest NanoTechnologies Appoints Matteson-Ridolfi for U.S. Distribution of its SMW™ Specialty Multiwall Carbon Nanotubes August 13th, 2014

New-Contracts/Sales/Customers

East China University of Science and Technology Purchases Nanonex Advanced Nanoimprint Tool NX-B200 July 30th, 2014

University of Manchester selects Anasys AFM-IR for coatings and corrosion research July 30th, 2014

STFC takes delivery of the 100th Hitachi Tabletop SEM in the UK July 3rd, 2014

University of Maastricht Adds Complete Correlative Workflow from FEI to its Institute of Nanoscopy June 23rd, 2014

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE