Heidelberg Pharma AG Announces Adjustment of Guidance

Heidelberg Pharma AG / Key word(s): Forecast
Heidelberg Pharma AG Announces Adjustment of Guidance

01-Oct-2021 / 13:49 CET/CEST
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Ad hoc announcement - Inside information pursuant to Article 17 MAR

Heidelberg Pharma AG Announces Adjustment of Guidance

Ladenburg, Germany, 1 October 2021 - Heidelberg Pharma AG (FSE: HPHA) today announced that it has adjusted its guidance for the current fiscal year published in March 2021. This is due to lower development expenses because clinical testing and manufacturing orders were delayed. Planned sales revenue from license agreements will not be recognized until the next fiscal year as some of the partners will reach milestones later than projected. Overall, the operating result will improve and funding requirements for fiscal year 2021 will decrease.

The Heidelberg Pharma Group expects for the financial year 2021 sales and other income between EUR 2.0 million and EUR 2.5 million (previously: EUR 5.5 million to EUR 7.5 million). Operating expenses will range between EUR 26.0 million and EUR 28.5 million (previously: EUR 36.0 million to EUR 40.0 million). Based on these adjustments, an operating result (EBIT) between EUR -23.5 million and EUR -26.5 million is expected (previously: EUR -30.0 million to EUR -34.0 million).

For 2021, Heidelberg Pharma anticipates cash requirements of EUR 26.5 million to EUR 29.0 million (previously: EUR 30.0 million to EUR 34.0 million). Monthly cash consumption is expected to range between EUR 2.2 million and EUR 2.4 million per month (previously: EUR 2.5 million and EUR 2.8 million). Based on the updated planning and the existing financing commitment of the main shareholder dievini Hopp BioTech holding GmbH & Co. KG, Walldorf, Germany, the company's financing is still secured until mid-2022.

The Interim Management Statement on the first nine months of 2021 will be published as planned on 7 October 2021.

About Heidelberg Pharma

Heidelberg Pharma AG is an oncology company and the first company to develop the toxin Amanitin into cancer therapies using its proprietary Antibody Targeted Amanitin Conjugate (ATAC) technology and to advance the biological mode of action of the toxin as a novel therapeutic principle. The proprietary technology platform is being applied to develop the Company's own therapeutic ATACs as well as in third-party collaborations. The proprietary lead candidate HDP-101 is a BCMA ATAC for multiple myeloma and will enter clinical development shortly. HDP-102, a CD37 ATAC for Non-Hodgkin's lymphoma and HDP-103, a PSMA ATAC for metastatic castration-resistant prostate cancer, are in preclinical testing.

Heidelberg Pharma AG is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol HPHA. More information is available at www.heidelberg-pharma.com.

This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as 'estimates', 'believes', 'expects', 'may', 'will' 'should' 'future', 'potential' or similar expressions or by a general discussion of the Company's strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial condition, performance, or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

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