Regeneus 2015 Half Year Results

Thursday, 19 February 2015

Regenerative medicine company, Regeneus Ltd (ASX: RGS), today reported its financial results for the half-year ended 31 December 2014.

During the 6 month period, the company made good progress on the development of its portfolio of cell-based therapies for the treatment of musculoskeletal disease and oncology conditions in humans and animals.

The financial highlights for the reporting period included:

  • Revenues up 46% to $1.14m driven by increased product and R&D licensing activities;
  • Net loss down 10% to $5.75m;
  • Net operating cash outflows of $1.96m reduced significantly, compared to outflows of $3.85m during the previous half-year corresponding period;
  • Successful capital raising completed, net of costs of $6.17m;
  • $3.73m R&D tax incentive received;
  • Cash at 31 December 2014, $6.74m;
  • Cash containment measures implemented (savings in excess of $1.7m pa);

In the second-half of the financial year, the company remains focused on unlocking the value in its product portfolio with the following activities:

  • Partnering its clinical-stage veterinary products: Kvax, its autologous canine cancer vaccine that is in marketing trials in US and Australia; and CryoShot, its allogeneic off-the-shelf stem cell therapy for canine and equine osteoarthritis;
  • Commencing its first in man trials for its human products: Progenza, its allogeneic off-the-shelf stem cell therapy for human osteoarthritis; and its autologous human cancer vaccine;
  • Licensing HiQCell, its autologous stem cell therapy for human osteoarthritis; and
  • Partnering its stem cell secretions cream for the treatment of acne and other inflammatory skin conditions.