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    POLN   CH0106213793

POLYPHOR AG

(POLN)
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EQS-Adhoc : Polyphor provides update on the future of the FORTRESS study of balixafortide and announces initial restructuring steps

07/16/2021 | 01:31am EDT
EQS Group-Ad-hoc: Polyphor AG / Key word(s): Strategic Company Decision 
Polyphor provides update on the future of the FORTRESS study of balixafortide and announces initial restructuring steps 
16-Jul-2021 / 07:30 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 LR 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Allschwil, Switzerland, July 16, 2021 
Polyphor provides update on the future of the FORTRESS study of balixafortide and announces initial restructuring steps 
- The company has decided to initiate the closing of the FORTRESS study 
- The company plans to analyze progression free survival (PFS) for the study including all major sub-groups given data 
maturity for the overall population is reached 
- The company will neither seek overall survival (OS) analysis as key secondary endpoint nor marketing approval related 
to this study 
- The board of directors continues its strategic assessment regarding the future of the company and will provide an 
update not later than end of July 
- A planned restructuring by up to 29 positions is expected to create operational efficiencies and reduce costs; 
consultation process with employees is initiated 
Polyphor AG (SIX: POLN) announced today that due to the lack of meaningful clinical benefit based on objective response 
rate (ORR) and clinical response rate (CBR) in the third-line or later population and following a thorough analysis, 
the company has decided to initiate the closure of the FORTRESS study evaluating balixafortide (POL6326) in combination 
with eribulin for the treatment of patients with HER2-negative, locally recurrent or metastatic breast cancer. As data 
maturity is reached for the overall population, Polyphor plans to further analyze progression-free survival (PFS) data 
for the trial, including all major subgroups. However, the company will not seek an overall survival (OS) analysis as 
key secondary endpoint nor marketing approval in connection with this study. The company plans to present the data from 
the FORTRESS trial results analyses at a future medical meeting. 
In order to reduce costs and increase operational efficiency, Polyphor plans to restructure by up to 29 positions. The 
consultation process with employees has already been initiated. 
The board of directors continues the strategic assessment considering a full range of options regarding the future of 
the company and will provide an update not later than end of July. 
For further information please contact: 
For Investors: 
Hernan Levett 
Chief Financial Officer 
Polyphor Ltd. 
+41 61 567 16 00 
IR@polyphor.com 

For Media: Dr. Stephan Feldhaus Feldhaus & Partner +41 79 865 92 56 feldhaus@feldhaus-partner.ch

About Polyphor Polyphor is a research driven clinical-stage, Swiss biopharmaceutical company committed to discovering and developing best-in-class molecules in oncology and antimicrobial resistance leveraging the company's leading macrocyclic peptide technology platform. Polyphor has finished patient enrollment of a Phase III trial of balixafortide (POL6326) in combination with eribulin in patients with advanced breast cancer. In addition, it has discovered and is developing the Outer Membrane Protein Targeting Antibiotics (OMPTA). OMPTA are potentially the first new class of antibiotics in clinical development in the last 50 years against Gram-negative bacteria. The company's lead OMPTA program is an inhaled formulation of murepavadin for the treatment of Pseudomonas aeruginosa infections in patients with cystic fibrosis. Polyphor is based in Allschwil near Basel and is listed on the SIX Swiss Exchange (SIX: POLN). For more information, please visit www.polyphor.com.

Disclaimer This press release contains forward-looking statements which are based on current assumptions and forecasts of the Polyphor management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular Polyphor's results, financial situation, and performance. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Polyphor disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise. ----------------------------------------------------------------------------------------------------------------------- End of ad hoc announcement -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      Polyphor AG 
              Hegenheimermattweg 125 
              4123 Allschwil 
              Switzerland 
Phone:        +41 61 567 1600 
Fax:          +41 61 567 1601 
E-mail:       info@polyphor.com 
Internet:     www.polyphor.com 
ISIN:         CH0106213793 
Valor:        POLN 
Listed:       SIX Swiss Exchange 
EQS News ID:  1219445 
 
End of Announcement EQS Group News Service 
=------------ 

1219445 16-Jul-2021 CET/CEST

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1219445&application_name=news 
 

(END) Dow Jones Newswires

July 16, 2021 01:30 ET (05:30 GMT)

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Financials
Sales 2021 1,00 M 1,08 M 1,08 M
Net income 2021 -41,4 M -44,6 M -44,6 M
Net Debt 2021 76,8 M 82,8 M 82,8 M
P/E ratio 2021 -0,52x
Yield 2021 -
Capitalization 23,1 M 25,0 M 24,9 M
EV / Sales 2021 99,9x
EV / Sales 2022 5,71x
Nbr of Employees 52
Free-Float 81,5%
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Last Close Price 1,96 
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Managers and Directors
G÷khan Batur Chief Executive Officer
Hernan Levett Chief Financial Officer
Kuno Sommer Chairman
Daniel Obrecht Chief Scientific Officer
Frank T. Weber Chief Medical & Development Officer
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