EQS-News: Vivoryon Therapeutics N.V.
/ Key word(s): Half Year Results
Vivoryon Therapeutics N.V.: Vivoryon Therapeutics N.V. Reports H1 2022 Financial Results and Highlights Operational Progress (news with additional features)
30.09.2022 / 08:47 CET/CEST
Vivoryon Therapeutics N.V. Reports H1 2022 Financial Results and Highlights Operational Progress
HALLE (SAALE) / MUNICH, GERMANY, September 30, 2022 – Vivoryon Therapeutics N.V. (Euronext Amsterdam: VVY; NL00150002Q7) (Vivoryon), a clinical stage company focused on the discovery and development of small molecule medicines to modulate the activity and stability of pathologically altered proteins, today reported financial results for the first six months of 2022 and provided an update on clinical and corporate progress. The report is available on the Company’s website at https://www.vivoryon.com/investors-news/financial-information/.
“The first half of 2022 was marked by decisive progress in the development of our lead candidate varoglutamstat in AD, which cumulated in several data presentations at the prestigious AAIC 2022 in San Diego in July and August,” said Dr. Ulrich Dauer, CEO of Vivoryon. “Firstly, we have been able to further de-risk clinical development of varoglutamstat with extremely encouraging safety results from our VIVIAD Phase 2b study. At the same time, adding to the preclinical data package by characterizing the additive effect of varoglutamstat in combination with anti-Abeta antibodies, we continue to explore the full potential for its application in a variety of therapeutic settings. These data, which have sparked excitement within the medical community and beyond, substantiate our commitment to making a difference to all those affected by Alzheimer’s disease. Having secured a significant private placement will enable us to continue to follow our carefully crafted development strategy. We warmly welcome our new investor KKR Dawn Aggregator L.P. and are very grateful to them and to our longstanding investor Claus Christiansen for their support through the upcoming clinical milestones.”
Portfolio Highlights (H1 2022 and post-period)
Corporate Development Highlights (H1 2022 and post-period)
Financial Results for the First Half Year 2022
The Company generated no license revenues or smaller revenue in half year 2022 or 2021.
Research and development expenses increased in 2022 by EUR 1.6 million compared to the six months ended June 30, 2021. This increase is primarily attributable to EUR 1.7 million higher expenses related to our clinical trial VIVIAD, which has advanced significantly compared to the six months ended June 30, 2021.
General and administrative expenses for the six months ended June 30, 2022 are about the same level as for the six months ended June 30, 2021. Higher expenses for share based payments with EUR 0.3 million were compensated by EUR 0.3 million lower expenses for legal and consulting services.
Net loss for the six months ended June 30, 2022 was EUR 12.6 million, compared to EUR 11.7…