(AWP) Biotech Company Relief Therapeutics (RLF 0.25 -3.46%) Fiscal year 2020 closed at a loss once again. The company has 43.1 million Swiss francs in cash at its disposal for other projects.
The company estimated the loss at 7.8 million francs, after losing 7.5 million the previous year. At the Ebitda level, there was a minus of 20.3 million in 2020 (previous year -0.9 million).
Not least due to the cooperation with NeuroRx, spending on services increased dramatically to 13.7 million (the previous year 0.1 million). This is mainly related to clinical studies of RLF-100.
Staff costs have also increased due to clinical study activities, and the message continues. It was 2.6 million in 2020, after 0.3 million the previous year. On the one hand, additional human resources were required to monitor clinical study activities with RLF-100. But relief organization had to be strengthened.
During the year 2020, Relief has successfully completed several rounds of financing, resulting in a total of 58 million Swiss francs raised in new equity funds.
Expansion and strengthening of the pipeline
The press release said that for the future growth of the company, a very important first step has been taken to expand the development pipeline. A cooperation and licensing agreement has been signed for ACER-001, which is a late-stage drug for rare diseases for which patients need better treatment options. It is planned to continue developing the current programs and further expanding the pipeline in the next year.
The most important candidate without question is RLF-100 (Aviptadil), which is currently being tested in treating Covid-19 patients with a NeuroRx partner. NeuroRx is currently planning to apply for approval of the intravenous formulation of the candidate in the European Union to treat critically ill Covid-19 patients. An application will then be made in the USA.
In this context, Relief is preparing for clinical evaluation and potential commercialization in Europe and other regions. Once the complete data set from the US Phase IIb / III study has been received and analyzed, Relief will determine the best pathway to take to develop the RLF-100 in Europe and elsewhere.
The complete history of relief treatment can be found here. »