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Heidelberg Pharma AG / Key word(s): Forecast Heidelberg Pharma AG Announces Updated Guidance 01-Oct-2024 / 15:27 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Ad hoc announcement Disclosure of inside information under Article 17 of Regulation (EU) Heidelberg Pharma AG Announces Updated Guidance Ladenburg, Germany, 1 October 2024 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech company developing innovative Antibody Drug Conjugates (ADCs), today announces that it has adjusted its guidance for the current fiscal year published on 18 June 2024 downwards on the cost side. The Heidelberg Pharma Group expects for the financial year 2024 sales and other income between EUR 10.0 million and EUR 12.0 million (previously: EUR 9.0 million to EUR 12.0 million). Operating expenses are expected to be in a corridor between EUR 30.0 million and EUR 33.0 million (previously: EUR 36.0 million to EUR 40.0 million). In the 2024 financial year, fewer costs have been incurred for the Phase I/IIa trial than originally planned. The expenses forecast for this will be incurred in the further course of the study in the next financial year. Based on these adjustments, an operating result (EBIT) between EUR -19.0 million and EUR -22.0 million is expected (previously: EUR -25.5 million to EUR -29.5 million). For 2024, Heidelberg Pharma anticipates cash requirements of EUR 13.0 million to EUR 16.5 million (previously: EUR 18.0 million to EUR 22.0 million). Monthly cash consumption is expected to range between EUR 1.1 million and EUR 1.4 million per month (previously: EUR 1.5 million and EUR 1.8 million). Based on the existing planning and available funds, the company’s financing is still secured until mid-2025. Taking into account a further expected payment of USD 75.0 million from HealthCare Royalty, the company assumes that financing will be available until the end of 2026. End of Inside Information Information and Explanation of the Issuer to this announcement: About Heidelberg Pharma Heidelberg Pharma develops novel drugs based on its ADC technologies for the targeted and highly effective treatment of cancer. ADCs are antibody-drug conjugates that combine the specificity of antibodies with the efficacy of toxins to fight cancer. Selected antibodies are loaded with cytotoxic compounds, the so-called payloads, that are transported into diseased cells. Inside the cells, the toxins then unleash their effect and kill the diseased cells. Heidelberg Pharma is the first company to use the mushroom toxin Amanitin in cancer therapy by exploiting the toxin’s biological mechanism of action with its innovative ATAC technology as a new therapeutic modality. It offers the opportunity to overcome resistance of cancer cells against therapeutic agents currently used and to eliminate dormant tumor cells, which typically survive current therapies and are responsible for tumor relapse and metastasis. This could lead to significant advances in cancer therapy – even for patients who no longer respond to any other treatment. The most advanced product candidate HDP-101 is a BCMA-ATAC for the indication multiple myeloma, which is currently in clinical development. In addition to Amanitin, alternative payloads also expand the ADC platform technologies of Heidelberg Pharma to develop targeted and highly effective ADCs for the treatment of a variety of malignant hematologic and solid tumors. Heidelberg Pharma AG is a biopharmaceutical company based in Ladenburg, Germany, and is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol HPHA. More information is available at www.heidelberg-pharma.com. ATAC® is a registered trademark of Heidelberg Pharma Research GmbH.
This communication contains certain forward-looking statements relating to the Company’s business, which can be identified by the use of forward-looking terminology such as “estimates”, “believes”, “expects”, “may”, “will” “should” “future”, “potential” or similar expressions or by a general discussion of the Company’s strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial condition, performance, or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments. 01-Oct-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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