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08/02/2011
Antisoma plc reports half-year results for the six months to 31 December 2010
London, UK, and Cambridge, MA: 8 February 2011 Antisoma plc (LSE: ASM; USOTC: ATSMY) announces its interim financial information for the period ended 31 December 2010.
Announced today
Steps initiated to find a transaction that maximises value of cash and assets
Company will by 31 March 2011 reduce operation to 10 or fewer staff to minimise ongoing operating costs whilst ensuring receipt of long-term receivables
Actively looking at all options to maximise shareholder value
Board downsizing to be announced shortly
Recent developments
AS1413 discontinued after phase III trial misses primary endpoint (January)
AS1411 phase IIb trial in AML stopped (January)
Financial highlights
Cash and short-term deposits at 31 December 2010 of GBP 23.4 million (31 December 2009: GBP 49.6 million)
Revenues of GBP 0.3 million (H1 2009: nil)
Loss after tax of GBP 15.4 million (H1 2009: loss of GBP 18.3 million)
Impairments to be recorded in H2
Glyn Edwards, CEO of Antisoma, said: “We are very disappointed that AS1413 did not succeed. However, we are now seeking to deliver the maximum value to shareholders from the remaining assets of the business.”
Enquiries:
Antisoma plc + 44 (0) 203 249 2127
Glyn Edwards, Chief Executive Officer
Eric Dodd, Chief Financial Officer
Daniel Elger, VP, Marketing & Communications
Buchanan Communications +44 (0)20 7466 5000
Lisa Baderoon, Jessica Fontaine
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