BioAlliance Pharma SA (Euronext Paris – BIO), a company dedicated to the supportive care and treatment of cancer patients, today announced a consolidated turnover of €0.9 million for the third quarter of 2010.
This recurrent turnover mainly corresponds to revenues received for Loramyc®/Oravig® sales by the company’s international licensing partners. In line with the announcements made in late August, Oravig® was launched in the United States in early September by Par/Strativa. The quarter’s turnover reflects initial stocking by wholesalers, in readiness for the product’s first few months on the market and according to the strength of initial sales. Since April 2010, the product has been sold in France by the Therabel group, which is also progressing pricing and reimbursement negotiations in other European countries with a view to new market launches in 2011. Turnover for Q3 2009 totalled €1.6 million and comprised €0.5 million from direct sales in France and €1 million non recurrent from sales & licensing agreements.
“This quarterly turnover reflects the now recurrent revenues from BioAlliance Pharma’s international sales & licensing agreements”, commented CEO Dominique Costantini. “Loramyc®/Oravig® constitutes our first success, as the first innovative product developed and registered by the company and already marketed. BioAlliance Pharma is now preparing to register Sitavir® (acyclovir Lauriad®), the second product based on our expertise in mucosal drug delivery and a source of revenue in the future”.
At the end of September 2010, the company held €24.6 million in cash and cash equivalents, and is now expecting a non conditional payment of over €5 million from its current partnerships and the OSEO contribution in the CAP Program (invasive cancers) in 2010-2011. “Our cash reserves rose significantly thanks to milestone payments received from our partners Therabel and Par/Strativa”, added CFO Nicolas Fellman. “This enables us to fund our ongoing clinical programs on novel, targeted treatments for serious cancers and cancer-related conditions”, he added.