Knight Reports Third Quarter 2014 Results
(firmenpresse) - MONTREAL, CANADA -- (Marketwired) -- 11/12/14 -- Knight Therapeutics Inc. ("Knight") (TSX: GUD) today reported its financial results for the quarter ended September 30, 2014.
Third Quarter 2014 Highlights
Subsequent to the quarter ended September 30, 2014:
To date, Knight has allocated $70 million out of the $130 million that the Company intends to invest in successful life science funds. These investments including Sectoral Asset Management, Forbion and Teralys have an ability to leverage their broad life sciences industry experience and existing relationships with key life science companies, including well placed introductions to their investee companies, to help secure Canadian product rights for the Company.
Third Quarter 2014 Financial Results Reported in Canadian Dollars
The Company''s financial statements for the period ended September 30, 2014 have been prepared in accordance with IAS 34, Interim Financial Reporting.
For the three-month period ended September 30, 2014, the Company reported Revenues of $6,901 and Net Income of $562,558. For the nine-month period ended September 30, 2014, the Company reported Revenues of $255,715 and Net Income of $877,434. As at September 30, 2014, the Company had $227.2 million of cash and 77,818,403 common shares outstanding.
"We are making GUD progress on becoming a Paladin 2.0. In the last nine months, we have 1) committed $70 million toward our fund strategy to secure Canadian rights to innovative products, 2) licensed in two late stage products through the acquisition of Orphan Canada, 3) lent $8 million on a secured basis to two life science companies, 4) received approval for Impavido in the U.S. by the FDA, 5) were granted the fourth priority review voucher ever issued by the FDA and hired a banker to monetize it, and most importantly 6) built a team of excellence to make it all happen." said Jonathan Ross Goodman, President and CEO of Knight Therapeutics Inc.
Conference Call Notice
Knight will host a conference call to discuss its third quarter results today at 8:30 am ET. Investors and other interested parties may call 877-223-4471 (Operator Assisted Toll-Free) or 647-788-4922 (local or international).
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. For more information about Knight Therapeutics Inc., please visit the Company''s website at or at .
This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the Company''s final application for listing on TSX Venture Exchange and in two Short Form Prospectuses which can be found on SEDAR at , which investors should consult for additional information. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.
Neither TSX nor its Regulation Services Providers (as that term is defined in policies of TSX) accepts responsibility for the adequacy or accuracy of this release.
Knight Therapeutics Inc.
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
As at
(In Canadian dollars)
(unaudited)
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In Canadian dollars except for share amounts)
(unaudited)
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In Canadian dollars)
(unaudited)
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS'' EQUITY
For the nine months ended September 30, 2014
(In Canadian dollars)
(unaudited)
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(In Canadian dollars)
(unaudited)
Contacts:
Knight Therapeutics Inc.
Jeffrey Kadanoff, P.Eng., MBA
Chief Financial Officer
514-484-4831
514-481-4116 (FAX)
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Datum: 12.11.2014 - 05:00 Uhr
Sprache: Deutsch
News-ID 1317521
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