BAGNEUX, France, April 15, 2014 (GLOBE NEWSWIRE) -- DBV Technologies (Euronext: DBV - ISIN: FR0010417345), creator of Viaskin®, a new reference in the treatment of allergy, announced today its topline financial results, as well as its net cash position, for first three months 2014.
Topline Financial Results for first three months 2014
For the first three months 2014, total revenues reached €1,277,349, up from €796,101 for the same period in 2013. This sensible evolution primarily results from an increase in Research Tax Credit amounting to €1,227,140 over the period, compared to €794,903 a year earlier. This progression stems from the intense R&D activities conducted by DBV. The Company did not sell any Diallertest® to its commercial partner over the period.
Net cash position at 31 March 2014
As of 31 March 2014, DBV's cash position amounted to €34.6 million, compared with €39.4 million three months earlier. The cash burn therefore amounted to €4.8 million for the first three months 2014.
David Schilansky, Chief Financial Officer, commented: "Six months away from phase II VIPES' results, a key step in the Company's development, and soon with 6 clinical programs running simultaneously, keeping control of our cash burn remains an important challenge for DBV. The cash burn for the first quarter was in line with our expectations, and illustrates our attention to contain the pace of our spending before Viaskin Peanut enters into phase III, as planned in 2015."
DBV Technologies will announce its financial results for the first six months on 28 July 2014.
About DBV Technologies:
DBV Technologies is developing Viaskin®, an innovative new approach to the treatment of allergies - a major public health issue that is constantly increasing in prevalence. Food allergies represent a true handicap in everyday life for millions of people, constituting a major unmet medical need. DBV Technologies, incorporated in France in 2002, has developed a proprietary, worldwide-patented technology for administering an allergen to intact skin while avoiding transfer to the blood. The Viaskin® technology combines efficacy and safety as part of a treatment that seeks to improve the patient's tolerability of peanuts, and thus considerably lowers the risk of a systemic, allergic reaction in the event of accidental exposure The product's clinically proven safety profile enables the application of effective desensitization techniques in the most severe forms of the allergy.
DBV Technologies is focusing on food allergies, including milk and peanut, for which there are currently no effective treatments. DBV Technologies has designed two products: Viaskin® Peanut and Viaskin® Milk. The clinical development program for Viaskin® Peanut has received Fast Track designation from the US Food and Drug Administration and is currently being studies in Phase II program. The company will subsequently develop a Viaskin® patch for young children with house dust mite allergy - a true public health issue because this pathology is a primary risk factors for childhood asthma.
DBV Technologies shares are traded on segment C of Euronext Paris (Ticker: DBV, ISIN code: FR0010417345).
For more information on DBV Technologies, please visit our website: www.dbv-technologies.com
Forward Looking Statement
The forward-looking statements, objectives and targets contained herein are based on the Company's management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. Furthermore, the Research and Development process involves several stages each of which involve the substantial risk that the Company may fail to achieve its objectives and be forced to abandon its efforts with regards to a product in which it has invested significant sums. Therefore, the Company cannot be certain that favorable results obtained during pre-clinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the product concerned. DBV technologies' business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers.
| DBV Technologies Contacts |
Chief Financial Officer
Tel. : +33(0)1 55 42 78 75
| Susanna Mesa |
VP Finance, US Investor Relations & Strategy
Tel. : +1 212-706-0063
| Nathalie Donne |
Director, Business Development & Corporate Communications
Tel. : +33(0)1 55 42 78 72
| DBV IR and Media Contacts |
U.S. Investor Relations
The Trout Group
Tel. : +1 646-378-2926
Tel. : +1 646-513-3125
Topline Financial Results http://hugin.info/156437/R/1777325/606652.pdf