Financial Reports 2017

Quarterly Report 2017 Q2

Issue link: https://resources.liminalbiosciences.com/i/969615

Contents of this Issue

Navigation

Page 1 of 47

1 PRESS RELEASE FOR IMMEDIATE RELEASE PROMETIC REPORTS 2017 SECOND QUARTER HIGHLIGHTS AND FINANCIAL RESULTS $101 million of new 2017 cash inflows closed from debt, equity & corporate transactions On-going review of plasminogen BLA with the U.S. FDA 48-week clinical data from plasminogen phase 2/3 trial confirms no recurrence of lesions, no safety or tolerability issues observed. Concurrence from the FDA on the design of PBI-4050's planned phase 2/3 pivotal clinical trial for Idiopathic Pulmonary Fibrosis 24-week clinical data confirm efficacy and safety of PBI-4050 maintained in metabolic syndrome & diabetic patients LAVAL, QUEBEC, CANADA – August 14, 2017 – Prometic Life Sciences Inc. (TSX: PLI, OTCQX: PFSCF) (Prometic) announced today its unaudited financial results for the quarter and the six month ended June 30, 2017. "We are extremely pleased with the longer term clinical performance of our plasminogen drug candidate in patients with plasminogen deficiency. Proving sustained efficacy in 100% of these patients in the trial also bodes well for the health economics profile of Ryplazim™", stated Mr. Pierre Laurin, President and Chief Executive Officer of Prometic. "The performance of PBI-4050 in our IPF phase 2 clinical trial and the efficacy also observed in other phase 2 trials with even longer treatment exposure, support our chosen clinical indications and regulatory pathways, and the initiation of our forthcoming Phase 2/3 pivotal clinical trials in IPF". "Our second quarter 2017 financial results are in line with our expectations and last few quarters. We have and will continue to concentrate our efforts and resources on lower-risk clinical programs and activities with the shortest possible regulatory pathways and fastest timelines to value creation", mentioned Mr. Bruce Pritchard, Prometic's Chief Operating Officer and interim Chief Financial Officer. "The current level of R&D and selling and marketing expenses is reflective of the extensive commercial and manufacturing infrastructure required to maximize commercial opportunities arising from our deep product pipeline". Following the departure of Mr. Greg Weaver as Prometic's Chief Financial Officer, Mr. Bruce Pritchard, Prometic's current Chief Operating Officer, will also resume the Chief Financial Officer's responsibilities in the interim until the appointment of a new Chief Financial Officer, the search for whom is already underway. Mr. Pritchard previously held the Chief Financial Officer Position for 9 years.

Articles in this issue

view archives of Financial Reports 2017 - Quarterly Report 2017 Q2