Quarterly Cashflow Report

Transcription

1 ASX ANNOUNCEMENT 31 January 2018 ABN Quarterly Cashflw Reprt Binmics Limited (ASX:BNO, OTCQX:BNOEF), a bipharmaceutical cmpany fcused n the discvery and develpment f innvative therapeutics fr the treatment f diseases f the central nervus system (CNS) and cancer, tday released its Appendix 4C Quarterly Cashflw Reprt. Binmics has cntinued t prgress its develpment pipeline f innvative therapies during the quarter and t prgress its business bjectives. Recent BNC210 presentatins have highlighted the nging Phase 2 trial f BNC210 in patients with PstTraumatic Stress Disrder (PTSD) and data frm the psitive Phase 2 trial in patients with Generalised Anxiety Disrder (GAD), supprting its ptential as a therapy fr anxiety disrders, cnditins with cmrbid anxiety and stress and trauma related disrders. On 13 December 2017, Binmics was featured n Channel 9 News which highlighted the unmet needs f PTSD suffers and Binmics BNC210 which is being develped t treat this devastating cnditin suffered by as many as 10% f Australia s ppulatin. Vide f the news stry can be fund at On 7 January 2018, Binmics presented a crprate verview at the Neurscience Innvatin Frum in San Francisc. Dr Debrah Rathjen, CEO f Binmics als participated in a panel discussin, New Appraches t Neurpsychiatry and Pain Management. Whilst BNC210, Binmics prprietary inx drug discvery platfrm and ur imprtant relatinship with Merck & C., (knwn as MSD utside the US and Canada) are the primary fcus f the Cmpany, Binmics clinical stage nclgy assets cntinued t make prgress during the quarter, with cmpletin f recruitment f the BNC101 Phase I clinical trial in cln cancer patients. On 31 Octber 2017 initial, psitive data frm the BNC101 Phase 1 trial was reprted. The data is highly supprtive f ur nging utlicensing effrt prviding cnfirmatin f the recmmended Phase 2 dse level, the safety and tlerability f BNC101 and indicatins f target engagement in patient s tumurs. Binmics is pleased with prgress in the frmal prcess t mnetise its nclgy assets taking the pprtunity t meet with a number f ptential partners during Bitech Shwcase in San Francisc, 810 January Binmics is in a strng psitin t fund its develpment prgrams. Cash balance at 31 December 2017 was $32.021m (30 September 2017: $38.111m) with net perating cash expended during the quarter ended 31 December 2017 f $6.209m (30 September 2017: $3.927m). In additin, Binmics received an R&D Tax Incentive refund f $6.788m in January 2018, giving a current cash psitin f apprximately $37.8m.

2 Cash receipts fr the perid included receipts frm custmers ttalling $1.683m fr the current quarter (30 September 2017: $1.755m) which were lwer due t timing f receipts. Cash utflw reflected cntinued investment in the nging Phase 2 clinical trial f BNC210 in PTSD and the BNC101 Phase 1 clinical trial in patients with metastatic cln cancer. Whilst sectin 9 f the Appendix 4C shws the estimated cash utflws fr the next quarter, n estimated cash inflws are prvided. The estimated cash utflws are reliant n the timing f varius activities, including clinical trials, being cnducted by Binmics. Upcming Milestnes. BNC210 Phase 2 PTSD clinical trial enrlment is nging and is expected t be cmpleted in quarter 1, CY2018. Data frm the clinical trial are anticipated in the secnd half f CY2018. Details f the trial can be fund at its dedicated website In parallel, Binmics cntinues t prgress ptential partnership discussins and the mnetisatin f nncre assets. FOR FURTHER INFORMATION PLEASE CONTACT: Binmics Ltd. Debrah Rathjen Steven Lydeamre CEO & Managing Directr CFO drathjen@binmics.cm.au slydeamre@binmics.cm.au Abut Binmics Limited Binmics (ASX: BNO) is a glbal, clinical stage bipharmaceutical cmpany leveraging its prprietary platfrm technlgies t discver and develp a deep pipeline f best in class, nvel drug candidates targeting in channels. Binmics lead drug candidate BNC210, currently in Phase 2 fr the treatment f generalized anxiety disrder and fr psttraumatic stress disrder, is a nvel, prprietary negative allsteric mdulatr f the alpha7 (α7) nictinic acetylchline receptr. The Cmpany is als develping BNC101, its lead humanised mnclnal antibdy targeting a key receptr n cancer stem cells that is verexpressed in metastatic clrectal cancer, metastatic pancreatic cancer and many ther slid tumurs; BNC101 entered clinical trials in the first quarter f Binmics has a strategic partnership with Merck & C., Inc (knwn as MSD utside the United States and Canada). Factrs Affecting Future Perfrmance This annuncement cntains "frwardlking" statements within the meaning f the United States Private Securities Litigatin Refrm Act f Any statements cntained in this annuncement that relate t prspective events r develpments, including, withut limitatin, statements made regarding Binmics drug candidates (including BNC210 and BNC101), its licensing agreements with Merck & C. and any milestne r ryalty payments thereunder, drug discvery prgrams, nging and future clinical trials, and timing f the receipt f clinical data fr ur drug candidates are deemed t be frwardlking statements. Wrds such as "believes," "anticipates," "plans," "expects," "prjects," "frecasts," "will" and similar expressins are intended t identify frwardlking statements. There are a number f imprtant factrs that culd cause actual results r events t differ materially frm thse indicated by these frwardlking statements, including unexpected safety r efficacy data, unexpected side effects bserved in clinical trials, risks related t ur available funds r existing funding arrangements, ur failure t intrduce new drug candidates r platfrm technlgies r btain regulatry apprvals in a timely manner r at all, regulatry changes, inability t prtect ur intellectual prperty, risks related t ur internatinal peratins, ur inability t integrate acquired businesses and technlgies int ur existing business and t ur cmpetitive advantage, as well as ther factrs. Results f studies perfrmed n ur drug candidates and cmpetitrs drugs and drug candidates may vary frm thse reprted when tested in different settings. Subject t the requirements f any applicable legislatin r the listing rules f any stck exchange n which ur securities are quted, we disclaim any intentin r bligatin t update any frwardlking statements as a result f develpments ccurring after the date f this annuncement.

3 Quarterly reprt fr entities subject t Listing Rule 4.7B Appendix 4C Quarterly reprt fr entities subject t Listing Rule 4.7B Intrduced 31/03/00 Amended 30/09/01, 24/10/05, 17/12/10, 01/09/16 +Rule 4.7B Name f entity Binmics Limited ABN Quarter ended ( current quarter ) 31 December 2017 Year t date (6 mnths) Cnslidated statement f cash flws Current quarter 1 Cash flws frm perating activities 1.1 Receipts frm custmers 1,683 3, Payments fr (a) research and develpment (6,094) (10,645) (74) (157) (560) (1,110) (535) (1,069) 1.3 Dividends received (see nte 3) 1.4 Interest received Interest and ther csts f finance paid (712) (1,132) 1.6 Incme taxes paid 1.7 Gvernment grants and tax incentives 1.8 Other (prvide details if material) 1.9 Net cash frm / (used in) perating activities (6,209) (10,402) (b) prduct manufacturing and perating csts (c) advertising and marketing (d) leased assets (e) staff csts (f) administratin and crprate csts Cash flws frm investing activities Payments t acquire: (a) prperty, plant and equipment (b) businesses (see item 10) (c) investments (d) intellectual prperty (e) ther nncurrent assets 2.2 Prceeds frm dispsal f: (a) prperty, plant and equipment (b) businesses (see item 10) (c) investments (d) intellectual prperty (e) ther nncurrent assets 2.3 Cash flws frm lans t ther entities 2.4 Dividends received (see nte 3) 2.5 Other (prvide details if material) 2.6 Net cash frm / (used in) investing activities + See chapter 19 fr defined terms 1 September 2016 Page 1

4 Quarterly reprt fr entities subject t Listing Rule 4.7B Cnslidated statement f cash flws Current quarter Year t date (6 mnths) Cash flws frm financing activities Prceeds frm issues f shares 3.2 Prceeds frm issue f cnvertible ntes 3.3 Prceeds frm exercise f share ptins Transactin csts related t issues f shares, 3.4 cnvertible ntes r ptins 3.5 Prceeds frm brrwings 3.6 Repayment f brrwings (627) 3.7 Transactin csts related t lans and brrwings 3.8 Dividends paid 3.9 Other (prvide details if material) 3.10 Net cash frm / (used in) financing activities 138 (351) 4 Net increase / (decrease) in cash and cash equivalents fr the perid Cash and cash equivalents at beginning f ,111 42,875 quarter/year t date Net cash frm / (used in) perating activities (item (6,209) (10,402) abve) Net cash frm / (used in) investing activities (item abve) Net cash frm / (used in) financing activities (351) (item 3.10 abve) 4.5 Effect f mvement in exchange rates n cash held (19) (101) 4.6 Cash and cash equivalents at end f quarter 32,021 32,021 5 Recnciliatin f cash and cash equivalents Current quarter Previus quarter at the end f the quarter (as shwn in the cnslidated statement f cash flws) t the related items in the accunts 5.1 Bank balances 16,789 42, Call depsits 15, Bank verdrafts Other (prvide details) Cash and cash equivalents at end f quarter ,021 42,875 (shuld equal item 4.6 abve) 6 Payments t directrs f the entity and their assciates Current quarter $A' Aggregate amunt f payments t these parties included in item Aggregate amunt f cash flw frm lans t these parties included in item Include belw any explanatin necessary t understand the transactins included in items 6.1 and 6.2 Remuneratin paid t Chief Executive Officer/Managing Directr and NnExecutive Directrs + See chapter 19 fr defined terms 1 September 2016 Page 2

5 Quarterly reprt fr entities subject t Listing Rule 4.7B 7 Payments t related entities f the entity and their assciates Current quarter $A' Aggregate amunt f payments t these parties included in item Aggregate amunt f cash flw frm lans t these parties included in item 2.3 Include belw any explanatin necessary t understand the transactins included in items 7.1 and Financing facilities available Add ntes as necessary fr an understanding f the psitin Ttal facility amunt at quarter end Amunt drawn at quarter end 8.1 Lan facilities 20,126 20, Credit standby arrangements 8.3 Other (please specify) Include belw a descriptin f each facility abve, including the lender, interest rate and whether it is secured r unsecured. If any additinal facilities have been entered int r are prpsed t be entered int after quarter end, include details f thse facilities as well. Silicn Valley Bank US$15m, interest 8.15%, secured by substantially all f the Grup's assets, ther than intellectual prperty. 9 Estimated cash utflws fr next quarter 9.1 Research and develpment (5,782) 9.2 Prduct manufacturing and perating csts 9.3 Advertising and marketing 9.4 Leased assets (39) 9.5 Staff csts (544) 9.6 Administratin and crprate csts (768) 9.7 Other (prvide details if material) 9.8 Ttal estimated cash utflws (7,133) Acquisitins and dispsals f business (items 2.1(b) and 2.2(b) abve) Name f entity Place f incrpratin r registratin Cnsideratin fr acquisitin r dispsal Ttal net assets Nature f business Acquisitins Dispsals + See chapter 19 fr defined terms 1 September 2016 Page 3

6 Quarterly reprt fr entities subject t Listing Rule 4.7B Cmpliance statement This statement has been prepared in accrdance with accunting standards and plicies which cmply 1 with Listing Rule 19.11A. 2 This statement gives a true and fair view f the matters disclsed. Sign here: Date: 31/01/2018 (Directr/Cmpany secretary) Print name: Debrah Rathjen Ntes The quarterly reprt prvides a basis fr infrming the market hw the entity s activities have been financed fr the past quarter and the effect n its cash psitin. An entity that wishes t disclse additinal infrmatin is encuraged t d s, in a nte r ntes included in r attached t this reprt. If this quarterly reprt has been prepared in accrdance with Australian Accunting Standards, the definitins in, and prvisins f, AASB 107: Statement f Cash Flws apply t this reprt. If this quarterly reprt has been prepared in accrdance with ther accunting standards agreed by ASX pursuant t Listing Rule 19.11A, the crrespnding equivalent standard applies t this reprt. Dividends received may be classified either as cash flws frm perating activities r cash flws frm investing activities, depending n the accunting plicy f the entity. + See chapter 19 fr defined terms 1 September 2016 Page 4