BioAlliance Pharma SA (Euronext Paris-BIO), a Company dedicated to
orphan oncology products and specialty products, today announced its consolidated turnover for the
fiscal year ending December 31, 2011.
« 2011 represents a cornerstone in builing up our growth strategy in the orphan oncology
product area. We have received the green light from the French health authorities for phase
III trial with Livatag®, enlarged enrolment of patients in the phase II trial with clonidine
Lauriad™, and obtained positive preliminary phase I results with our AMEP® biotherapy.
These achievements contribute to building a strong position for our Company in the orphan
oncology product area, where a high sales potential and a major medical need exist”,
declares Judith Greciet, CEO of BioAlliance Pharma. “Moreover, the ongoing international
deployment of Loramyc®, notably with an agreement signed for Japan, and the submission of
a European registration dossier for Sitavir®/Sitavig® are particularly key milestones that
reinforce the value of our second product portfolio”.
Analysis of 2011 consolidated results
BioAlliance Pharma consolidated results are strongly determined by non recurring revenues,
representative of scheduled payments from international licence agreements signed by the
- In 2011, the non recurring turnover amounted to €1.5 million, notably thanks to a
milestone payment from Therabel and the signature of the licence agreement with Sosei
- In 2010, the payment received following the US registration of Oravig® and the signature
of a European licence agreement for Loramyc® had generated an exceptionally high non
recurring turnover (€20.2 million).
Summarized profit & loss account for 2011:
While actively conducting its clinical and industrial development programs (Livatag®, clonidine
Lauriad™, AMEP® and Sitavir®), the Company has optimized its operating expenses (-9% as
compared with 2010) and contained its research and development investments which total €7.9 million
for the full-year 2011. The Company is also eligible for a €1.1 million research tax credit and has
requested its reimbursement at the beginning of 2012.
The Company’s available cash reserves amounted to €28.7 million as of December 31, 2011, an
increase on the previous year’s closing figure of €20.9 million. It notably includes paiements received
from Therabel end of December for a total amount of €3.5 millions.
Perspectives for 2012
“Our growth is primarily based on the development of our products, with a focus on the highly
promising orphan oncology portfolio. Nevertheless, it is necessary to reinforce this portfolio with other
projects or platforms that would enable us to enlarge the pipeline, to spread risks inherent to drug
development and thus to create additional value for our shareholders”, declares Judith Greciet, CEO
of BioAlliance Pharma.
The Company is planning following growth catalysts in 2012:
- The active start of patient recruitment of in the phase III trial with Livatag® (doxorubicin
Transdrug™) in the primary liver cancer;
- The acceleration of the phase II trial with clonidine Lauriad™ through an international expansion in
the prevention of radio/chemotherapy-induced oral mucositis in patients with head and neck
- The start of a phase I/II trial (intramuscular administration) with Amep® biotherapy in metastatic
- The receivability of Sitavir®/Sitavig® registration application for the US, enabling its evaluation to be
initiated, as well as the continuation of the European registration procedure started end of 2011;
- The signature of new international licence agreements with adequate partners, especially for the
Company’s most advanced products.
Q1 2012 consolidated turnover
BioAlliance Pharma’s consolidated turnover for Q1 2012 amounted to €290,000. The consolidated
cash reserves stood at €22.8 million as of March 31, 2012, after payment of a €1.5 million tax for
Sitavir®/Sitavig® US registration application. An additional €1 million non conditional payment from
Therabel is expected by December 31, 2012.
In thousands € 31/12/2011 31/12/2010
Recurring revenues from licence agreements 1 365 1 388
Non recurring revenues from licence agreements 1 451 20 257
Other revenues 415 887
Total revenues 3 231 22 532
Total operating expenses (18 169) (19 976)
Operating profit / (loss) (14 938) 2 592
Financial profit / (loss) 316 217
Net profit / (loss) (14 622) 2 809
“2012 is an important year as regards strategic progress and valuation of our projects. The Company’s
financial status gives us today a good visibility, enabling us to pursue actively our planned
developments”, added Nicolas Fellmann, CFO of BioAlliance Pharma.
Analyst meeting and audio/web-conference (in English)
BioAlliance Pharma will hold a meeting at 9 am on April 18, 2012, at its corporate headquarters (49
boulevard Martial Valin, Paris,France). An audio/web-conference in English will be organized at 11:30
am Paris time (GMT+1). Access numbers and codes are given below.
1) Audio connexion from France or abroad: +33 (0)1 70 77 09 35
2) Webconference connexion: https://www.anywhereconference.com
3) Login: 135276545
4) Participant Code: 775532
For conference call replay: +33(0)1 72 00 15 00 (in English)
Conference reference: 276545#
The 2011 financial statements were approved by the Board of Directors on April 17, 2012. The
Statutory Auditors have completed their audit and are in the process of issuing their report.