Total comprehensive loss for the period -6,010.2 -7,216.5 Basic earnings per share (in EUR) -4.1 -5.1 Capital and reserves 5,357.6 10,866.0 Current liabilities 5,608.4 4,026.0 Cash flow utilized in operating activities -6,884.9 -7,640.7 Cash and cash equivalents 9,206.9 12,019.6 Total change in cash & cash equivalents -2,812.7 10,304.1
Outlook 2021 The ongoing COVID-19 pandemic continues to strongly influence Marinomed's business activities. Marinomed expects Carragelose sales to grow further but below the 2020 level. Several clinical trials are ongoing: Marinomed initiated two clinical trials, both ongoing in Vienna. One is investigating the preventative potential of Carragelose against SARS-CoV-2 and other respiratory viruses in healthcare staff. The second trial is designed to demonstrate the efficacy and safety of inhaled Carragelose (Inhaleen) in treating COVID-19 and other viral pneumonias. The company expects to obtain marketing approval of the decongestant nasal spray combining Carragelose and Xylometazoline in the first half 2022.
Marinomed regards the Marinosolv platform as an important value driver and aims to further advance the development of Budesolv, Flutisolv and Tacrosolv. The ongoing phase II trial investigating safety and efficacy of Tacrosolv eye drops in treating ocular symptoms of hay fever (allergic rhinoconjunctivitis) is expected to report results in the second half of 2021. For the anti-allergic nasal spray Flutisolv, Marinomed is preparing a phase III trial.
Realizing the potential of both platforms requires investments in research and development. The focus lies on the expansion of the Marinosolv platform and clinical trials for larger indications. For the current fiscal year, the Company expects a slight increase in research and development costs leading to an operating loss in 2021. In-line with our business plans we expect to show profitability in the midterm.
Conference Call Details: Marinomed Biotech AG (VSE:MARI) will inform about its full year results in an international conference call (held in English language) today. The conference call is scheduled for 10.00 a.m. CET (9.00 a.m. GMT). Your dialogue partners will be Dr. Andreas Grassauer, CEO, and Pascal Schmidt, CFO.
Pre-registration: To participate, please pre-register for the conference call here: https://webcast.meetyoo.de/reg/sjBgewXIf4fl During registration, participant information is collected, and a personal attendee-ID provided. Following registration, you will receive an e-mail with your personal access code (PIN) for the conference call.
Logging in to the call: To dial in to the conference call, please use the information provided in the confirmation email. We recommend dialing a few minutes prior to the call.
To dial in, please use one of the following dial-in numbers: AUSTRIA: +43 1 3865463 GERMANY: +49 89 200039051 (English speaking) FRANCE: +33 4 82 98 61 32 SWITZERLAND: +41 43 550 14 51 UK: +44 20 3872 0883
If you have not registered in advance, you can enter the conference assisted by an operator. After collecting the necessary information, the operator will place you in the conference. To reach an operator, please dial the following number: GERMANY: +49 89 244184431 (English speaking)
The conference call will be supported by a web presentation: https://webcast.meetyoo.de/index.html?e=sjBgewXIf4fl The Marinomed presentation window will open at the beginning of the conference. Only registered participants can follow the presentation in the online tool. The webcast does not support audio (please follow above instructions for audio) and runs best with the Firefox or Chrome browser.
The presentation can be downloaded c. 15 minutes before the conference call from the Company's website: https:// www.marinomed.com/en/investors/publications Consolidated Financial Statements (IFRS):
Consolidated statement of comprehensive income (loss) EUR thousand Fiscal year ended 31 December 2020 2019 Revenues 8,124.4 6,144.6 Other income 1,152.0 671.8 Other gains / (losses), net -7.1 9.9 Expenses for materials -5,414.2 -3,575.2 Expenses for services -3,351.9 -3,081.7 Personnel expenses -4,097.9 -4,219.4 Depreciation and amortization -428.4 -327.2 Other expenses -1,792.8 -1,833.2 Operating result (EBIT) -5,816.0 -6,210.4 Financial income 523.0 0.3 Financial expenses -713.7 -1,002.0 Financial result -190.7 -1,001.6 Loss before taxes -6,006.7 -7,212.1 Taxes on income -3.5 -4.4 Loss for the period -6,010.2 -7,216.5 Other comprehensive income (loss) for the period 0.0 0.0 Total comprehensive loss for the period -6,010.2 -7,216.5 Earnings per share Basic (EUR) -4.1 -5.1 Diluted (EUR) -4.1 -5.1 Consolidated statement of financial position EUR thousand 31 December ASSETS 2020 2019 Intangible assets 2,056.8 1,625.4 Property, plant and equipment 6,036.4 2,491.0 Shares in affiliated companies 0.0 35.0 Deposits and other non-current receivables 12.2 12.5 Non-current assets 8,105.4 4,163.9 Inventory 926.1 97.5 Trade and other receivables 5,263.1 3,220.4 Current tax receivables 0.0 0.0 Cash and cash equivalents 9,206.9 12,019,6 Current assets 15,396.1 15,337.5 Total assets 23,501.6 19,501,5 EQUITY AND LIABILITIES Share capital 1,472.1 1,469.8 Capital reserves 41,351.2 40,848.1 Retained losses -37,466.3 -31,451.9 Capital and reserves 5,357.6 10,866.0 Non-current borrowings 12,457.1 4,505.4 Other non-current liabilities 78.5 104.1 Non-current liabilities 12,535.6 4,609.5 Current borrowings 356.8 135.2 Trade payables 1,975.8 1,002.4 Current contract liabilities and other current liabilities 2,512.7 1,615.4 Provisions 763.0 1,273.0 Current liabilities 5,608.4 4,026.0 Total equity and liabilities 23,501.6 19,501.5 Consolidated statement of cash flows Fiscal year ended 31 December EUR thousand 2020 2019 CASH FLOW FROM OPERATING ACTIVITIES: Loss for the period -6,010.2 -7,216.5 Adjustments for: Taxes on income recognized in profit or loss 3.5 4.4 Financial income recognized in profit or loss -523.0 -0.3 Financial expenses recognized in profit or loss 713.7 1,002.0 Depreciation and amortization expense 428.4 327.2 Net book value of disposals of assets 1.0 0.0 (Gain) / Loss on disposal of assets 0.0 -0.0 Other non-cash income/expenses 247.8 356.4 Changes in deposits and other non-current receivables 0.4 0.3 Changes in inventories -828.6 18.2
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