Onxeo: Q1 2017 financial information and business update
- Revenues up 55% to €1.2 million
- Cash position of €21.7 million at March 31, 2017
- All strategic assets are progressing according to development plans
Paris, April 26, 2017 – 6.30 pm CEST. Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO), a biotechnology company specializing in the development of innovative drugs for the treatment of orphan diseases, in particular in oncology, today announces its consolidated revenues and cash position at March 31, 2017 and issues a business update.
Judith Greciet, Chief Executive Officer of Onxeo, says: “Our achievements over the first quarter of 2017 are perfectly aligned with our strategy that aims to position Onxeo as a major reference in orphan oncology diseases. We are particularly pleased to have been able to finalize enrollment in the ReLive phase III study of Livatag® in January, in line with our goal to obtain preliminary clinical results around mid-year. Besides, we have made significant progress in our efforts to develop our other two strategic assets, Beleodaq® administered orally and AsiDNA™, which should enable the initiation of phase I clinical trials on these two promising compounds by the end of 2017. All indicators are positive at the end of the first quarter and in line with our business plan.”