May 11, 2017 / 5:07 AM / 3 months ago

BRIEF-Mologen Q1 EBIT loss widens to EUR 5.1 mln

May 11 (Reuters) - MOLOGEN AG:

* SUCCESSFUL FINANCING AND CONTINUATION OF CLINICAL STUDIES WITH THE LEAD PRODUCT LEFITOLIMOD IN THE FIRST QUARTER 2017

* FINANCIAL PERFORMANCE AND FINANCIAL POSITION OF MOLOGEN AG DEVELOPED ACCORDING TO PLAN IN Q1 OF 2017

* DESPITE ONGOING ADVANCEMENT OF CLINICAL STUDIES, Q1 EXPENSES FOR RESEARCH AND DEVELOPMENT ONLY INCREASED SLIGHTLY YEAR ON YEAR TO EUR3.9 MILLION (Q1 2016: EUR3.7 MILLION

* Q1 OPERATING RESULT (EBIT) WAS CONSEQUENTLY BELOW PREVIOUS YEAR TO EUR-5.1 MILLION (Q1 2016: EUR-4.5 MILLION)

* OUTLOOK FOR 2017 CONFIRMED

* FUNDING SECURED UNTIL START OF 2018 THROUGH ADDITIONAL CAPITAL MEASURE Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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