Biovitrum: Biovitrum's Interim Report January - March 2007.Strong First Quarter - New Clinical Trials and Positive Cash Flow STOCKHOLM, Sweden -- Biovitrum (STO:BVT BVT Bouvet Island (ISO Country code) BVT Brevet BVT Bournville Village Trust (UK) BVT Build Verification Test (Software testing process) ): January - March * Net revenues for the first quarter decreased by 12 percent to SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 352.9 M (403.3) * Net profit for the first quarter amounted to SEK 44.1 M (86.3) and earnings per share before dilution to SEK 1.0 (1.7) * Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses amounted to SEK 48.1 M (72.8), cash and cash equivalents and short-term investments as of March 31 amounted to SEK 898.5 M (1,613.9) * The 11[eth]-HSD1 project for the treatment of diabetes, which is out-licensed to Amgen, progressed well and is estimated to enter phase II during the second half of 2007 * Phase IIa study initiated within the collaboration with Synphora for the treatment of psoriasis psoriasis (sôrī`əsĭs), occasionally acute but usually chronic and recurrent inflammation of the skin. The exact cause is unknown, but the disease appears to be an inherited, possibly autoimmune disorder that causes the * Phase I study initiated within the anti-RhD co-development project with Symphogen for the treatment of two blood disorders blood disorders, n.pl hematologic dyscrasias that affect the component cells and plasma elements of the blood. They are generally divided into two broad groups: those in which an increase in bulk occurs (e.g. After the end of the period * Martin Nicklasson was appointed in April as Biovitrum's new President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. effective May 14, 2007 "It gives me great pleasure to be able to say in my final interim report that we have a highly positive trend in our broad clinical portfolio and that our financial position continues to be strong," says Mats Pettersson, CEO of Biovitrum. "I am convinced that Martin Nicklasson, with his exceptionally broad background, is the right person to lead the future development of Biovitrum." To present the report, Biovitrum's CEO Mats Pettersson and CFO See Chief Financial Officer. Goran Arvidson will hold a Press and Analyst meeting in Stockholm today Monday, April 23 at 10:30 (CET CET abbr. Central European Time CET Central European Time CET n abbr (= Central European Time) → hora de Europa central CET abbr ) at IVA, Grev Turegatan 16, conference room "Wenstrom" and a Conference Call at 14:30 CET). Dial-in: +46 8 566 363 29. Presentation material will be available at www.biovitrum.com under investorrelations/presentations About Biovitrum Biovitrum is one of the largest biopharma companies in Europe. With operations in Sweden and in the UK Biovitrum conducts research and develops pharmaceuticals for unmet medical needs both for common diseases and conditions that affect smaller patient populations. Biovitrum has a broad and balanced R&D portfolio with several projects in clinical and preclinical phases for the treatment of obesity, diabetes, inflammation and eye and blood diseases as well as a number of well defined niche indications. Biovitrum develops and produces protein-based drugs on a contractual basis and markets a range of specialist pharmaceuticals primarily in the Nordic countries. Biovitrum has revenues of approximately SEK 1.2 billion and 550 employees. Biovitrum is listed on the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. since September 15, 2006. For more information see www.biovitrum.com This information was brought to you by Cision http://newsroom.cision.com |
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