Clavis Pharma ASA : Clavis Pharma ASA : First Quarter Results 2013
Oslo, Norway, 25 April 2013
Clavis Pharma ASA (OSE: CLAVIS), the Norwegian cancer drug development
company, announces its results for the first quarter 2013, and including
significant post-period events.
*In April 2013, Clavis Pharma announced the results of the Phase III
CLAVELA study investigating elacytarabine in patients with relapsed or
refractory acute myeloid leukaemia (AML). The trial showed that there was
no significant difference in overall survival (OS) between the two arms
where patients were randomised to receive either elacytarabine or
investigator's choice of treatment.
Due to the negative outcome of the CLAVELA trial, the Company will not
commit any further resources to studies of elacytarabine in the treatment
of patients with AML or in any other indications.
*The Board and Management has initiated a review of the Company's strategic
options and will make a decision on the future of its remaining corporate
and technology assets over the coming months. The Company has taken
immediate steps to minimise its operating expenditure going forward, while
caring for those patients that are still being treated in the Company's
*Extraordinary General Meeting (EGM) to elect a new Board of Directors to
be held on 2 May.
*The Company had cash and cash equivalents of NOK 170 million at 31 March
2013, compared to NOK 223 million at 31 December 2012.
*Research and development costs and other operating expenses amounted to
NOK 76 million for the first quarter 2013.
Chief Executive Officer
+47 24 11 09 50
Chief Financial Officer
+47 24 11 09 71
+47 95 17 91 90 (mob)
Mark Swallow / Nina Enegren / David Dible
Citigate Dewe Rogerson
+44 207 282 2948
About Clavis Pharma
Clavis Pharma ASA is an oncology focused pharmaceutical company based in Oslo,
Norway and listed on the Oslo Stock Exchange (ticker: CLAVIS).
This release and any materials distributed in connection with this release may
contain certain forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they reflect the Company's
current expectations and assumptions as to future events and circumstances
that may not prove accurate. A number of material factors could cause actual
results and developments to differ materially from those expressed or implied
by these forward-looking statements.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Q1 2013 report
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Clavis Pharma ASA via Thomson Reuters ONE
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