INTERIM REPORT FOR THE PERIOD 1 JANUARY - 30 JUNE 2012
Exiqon A/S (NASDAQ OMX Copenhagen: "EXQ") today announced
results for the first six months of 2012:
In summary(DKK million)
Total operating expenses excl. special items
Cash Flow From Operating activities
Revenue increased 9% to DKK 29.1 million (DKK 26.7 million)
in the second quarter of 2012. Research product sales and
services (excluding OEM) increased 17% to DKK 22.2 (DKK
19.0 million) in the second quarter, the highest ever in
the company's history, and 4% to DKK 41.3 million (DKK 39.7
million) in the first six months of 2012.
Total operating expenses increased 7% to DKK 21.3 million
(DKK 19.9 million) in the second quarter mainly driven by
new hirings in Sales & Marketing.
EBIT improved 53% to DKK -5.8 million (DKK -12.4 million)
in the second quarter of 2012.
Net profit was DKK -4.1 million (DKK -12.8 million) in the
second quarter and EPS amounted to DKK -0.12 (DKK -0.38).
Cash flow from operating activities improved 59% to DKK
-6.2 million (DKK -15.0 million) in the first six months of
On June 22, 2012 Exiqon launched and completed a directed
issue of 1,805,056 new shares of DKK 1 nominal value at the
price of DKK 9 per share that was registered on June 27,
The financial outlook for 2012 is maintained.
During the second quarter Exiqon launched several new
products, including the 7th generation of miRCURY LNA™
microRNA Arrays, microRNA qPCR Focus Panels for stem cell
research and preclinical toxicology research.
On June 1, 2012 Exiqon announced the presentation of data,
using the company's proprietary LNA™ based in situ
hybridization (ISH), from a clinical study including all
stage II colon cancer patients in Denmark in the year 2003
with associated six years follow-up data at the 2012 ASCO
On June14, 2012 Exiqon announced the launch of a unique
state-of-the-art online tool for design of LNA™ enhanced
qPCR assays for quantitation of messenger RNA and ncRNA in
combination with associated microRNAs.
In a comment, CEO Lars Kongsbak said: "We see first
signs of improved sales in North America and continued strong
growth in sales of our own research products and services in
Europe and Rest of World leading to record sales in the
second quarter. In Diagnostics, we are following up on the
recently announced ISH data on the risk of recurrence of
stage II colon cancer by using our proprietary microRNA qPCR
system to confirm data. The initial results look very
encouraging for our opportunity to capture this significant