• 28 February 2019
    Genkyotex announces 2018 Annual Financial Results and provides Corporate update

    Genkyotex (Euronext Paris & Brussels: FR0011790542 – GKTX), a biopharmaceutical company and the leader in NOX therapies, announces its consolidated financial results for the year ended December 31, 2018 1 , in accordance with International Financial Reporting Standards (IFRS). A summary of the consolidated financial statements is included below.

    Elias Papatheodorou, CEO of Genkyotex, says: “In 2018, we achieved significant progress in advancing the development of GKT831 in multiple indications. Most importantly, the compelling interim data from our Phase 2 trial in PBC is indicative of GKT831’s potential to treat a wide-range of fibrotic indications and represents the first clinical proof-of-concept for the novel therapeutic class of NOX inhibitors. We look forward to final results and especially data related to fibrosis and quality of life.”

    On December 31, 2018, Genkyotex had cash and cash equivalents of €10.3 million, versus €12.8 million on September 30, 2018. The Company expects that its current cash position, after taking into account the full conversion of the convertible notes with warrants attached issued in August 2018 (of which 175 notes out of 500 notes have been converted to date), is sufficient to fund planned operations through first quarter of 2020.

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