EANS-Adhoc: AGENNIX AG Reports Notice of Loss Pursuant to § 92 par. 1 AktG
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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other
26.03.2013
Company also Postpones Reporting of Fiscal Year 2012 Financial Results
and Provides Updated Cash Reach Guidance
Planegg/Munich (Germany) and Princeton, NJ, March 26, 2013 - The Management
Board of Agennix AG (Frankfurt Stock Exchange: AGX) with the concurrence of the
Supervisory Board, today provides notification of a cumulative loss of more than
half of the nominal share capital of the Company. This loss is mainly
attributable to the full impairment of the intellectual property related to
talactoferrin. The Management Board is actively discussing with the Supervisory
Board different options for the Company.
Pursuant to Sec. 92 par. 1 German Stock Corporation Act ("Aktiengesetz"), a loss
amounting to half of the nominal share capital triggers the statutory obligation
to summon a shareholders' meeting. Agennix will announce the date of such
meeting and provide an invitation to the meeting in the near future. In this
meeting, the Management Board will report on the loss of more than half of the
nominal share capital and discuss the situation of the Company.
Agennix also announces that it will postpone the filing of its fiscal year 2012
financial results, previously scheduled to be published on March 28, 2013. The
Company will provide an updated reporting date as soon as possible.
Furthermore, Agennix today provided an update on projected cash reach,
indicating that the Company currently expects to have sufficient cash to fund
ongoing operations into June 2013. This is an update from earlier guidance
indicating that the Company expected to be able to fund operations only into the
first quarter of this year.
END OF AD HOC ANNOUNCEMENT
Agennix AG is a publicly listed biopharmaceutical company that seeks to develop
novel therapies that have the potential to substantially lengthen and improve
the lives of critically ill patients in areas of major unmet medical need. The
Company's clinical development programs include oral talactoferrin alfa; a
topical gel form of talactoferrin and RGB-286638, a multi-targeted kinase
inhibitor. Agennix's registered seat is in Heidelberg, Germany. The Company's
site of operation is in Princeton, New Jersey. For additional information,
please visit the Agennix website at www.agennix.com.
This ad hoc announcement contains forward-looking statements, which express the
current beliefs and expectations of the management of Agennix AG. Such
statements are based on current expectations and are subject to risks and
uncertainties, many of which are beyond our control, that could cause future
results, performance or achievements to differ significantly from those
expressed or implied by such forward-looking statements. Actual results could
differ materially depending on a number of factors, and we caution investors not
to place undue reliance on the forward-looking statements contained in this ad
hoc announcement. There can be no guarantee that the Company will have or be
able to obtain additional financial resources or that it will be successful in
pursuing a strategic transaction. Forward-looking statements speak only as of
the date on which they are made and Agennix undertakes no obligation to update
these forward-looking statements, even if new information becomes available in
the future.
Agennix® is a trademark of Agennix AG.
Further inquiry note:
Laurie Doyle
Senior Director, Investor Relations & Corporate Communications
Phone: +49 (0)89 90 40 5 464 or +1 609 524 5884
ir@agennix.com
end of announcement euro adhoc
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issuer: AGENNIX AG
Im Neuenheimer Feld 515
D-69120 Heidelberg
phone: +49 89 90 405 464
FAX: +49 89 90 40 5-811
mail: ir@agennix.com
WWW: http://www.agennix.com
sector: Pharmaceuticals
ISIN: DE000A1A6XX4
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
regulated dealing/prime standard: Frankfurt
language: English