Epigenomics announces Q1 2013 financial results and reports on operational highlights
Epigenomics AG (ECX) announced its financial results for the first quarter ending March 31, 2013.
- U.S. Food and Drug Administration (FDA) accepted Premarket Approval (PMA) submission for Epi proColon® and granted priority review status
- Revenue Q1 2013 increased 46% compared to Q1 2012
- New distribution agreement for China signed
- R&D costs decreased 27% compared to Q1 2012
- EBIT in Q1 improved by 26% compared to Q1 2012
- Net cash flow in Q1 2013 positive due to successful capital increase in January
“During the first quarter of 2013, we continued to make progress on the regulatory path towards U.S. approval of Epi proColon®. After completion of our PMA submission late last year, the FDA notified us of having accepted the application for review and has granted priority review status to it. We are very positive about this decision and continue our constructive discussion with the agency. Several inspections have already been conducted and we are excited with the progress made so far”, said Dr. Thomas Taapken, CEO/CFO of Epigenomics AG. “The successful capital raise earlier this year provides us with the funds to keep working on bringing the advantages of Epi proColon®, a convenient blood-based testing for early detection of colorectal cancer, to the screening eligible population.”
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