Antisoma plc (UK) – Antisoma plc reports half-year results for the six months to 31 December 2009

Antisoma plc reports half-year results for the six months to 31 December 2009

London, UK, and Cambridge, MA: 18 February 2010 Antisoma plc (LSE: ASM; USOTC: ATSMY) announces its interim financial information for the period ended 31 December 2009.

Highlights

Potential blockbuster ASA404 advancing with Novartis

  • Enrolment completed in first-line lung cancer phase III trial
  • First-line lung cancer phase III data expected in mid-2011 (announced today); Novartis plans filings in 2011
  • Enrolment ongoing in second-line lung cancer phase III trial
  • Plans announced for phase Ib/II trial in breast cancer
  • Investigator-initiated trials started in other cancers (announced today)


Novel blood cancer treatment AS1413 leads US commercial strategy

  • Positive final data reported from secondary AML phase II trial
  • Secondary AML phase III trial now over half enrolled (announced today)
  • Preparations underway for potential commercialisation in US
  • Antisoma plans first filings in 2011


Aptamer AS1411 continues to show potential

  • Clinical data suggest distinctive efficacy and safety profile
  • Renal cancer phase II trial provides new evidence of activity
  • Other indications prioritised over renal cancer for commercial reasons
  • Plans announced for phase IIb trial in AML


Financial highlights

  • Loss after tax of GBP 18.3 million (H1 2008: loss after tax of GBP 5.0 million)
  • Cash at 31 December 2009 of GBP 49.6 million (31 December 2008: GBP 52.7 million)
  • No revenues in this period (2008: GBP 5.5 million); recognition of GBP 19.7 million from oral fludarabine divestment expected in half-year ended 30 June 2010

Glyn Edwards, CEO of Antisoma, said: “We now have two drugs – ASA404 and AS1413 – that are well into pivotal phase III trials. Success with either drug will enable us to make a rapid transition into a company directly involved in product commercialisation and capable of generating recurring revenues based on product sales.”

Eric Dodd, Antisoma’s CFO, added: “We continue to manage our cash resources prudently and to focus our investment on key products with potential to create significant value for shareholders.”

A webcast and conference call will be held today at 9.30 am GMT. The webcast can be accessed via Antisoma’s website at www.antisoma.com and the call by dialling +44 (0)20 7075 1520 and using the participant PIN code 468563#.

A second conference call will be held at 2.00 pm GMT/9.00 am EST. Call numbers are +44(0)20 7075 1520 or from the US (toll-free) 1 866 793 4273; the participant PIN code for this call is 468563#.

A recording of the webcast will be available afterwards on Antisoma’s website.

HUGIN /Source: Antisoma plc /LSE: ASM /ISIN: GB0055696032


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