-
Details of reporting period
Name of entity
Cynata Therapeutics Limited (the Company)
ABN
98 104 037 372
Reporting Period
Year ended 30 June 2017
Previous Corresponding Period
Year ended 30 June 2016
-
Results for announcement to the market
Key information
12 months ended
30 June 2017
$
12 months ended
30 June 2016
$
Increase/ (decrease)
%
Amount change
$
Revenues from ordinary activities
1,843,105
1,247,397
47.76
595,708
Loss from ordinary activities after tax attributable to members
4,553,536
4,939,471
(7.81)
385,935
Net loss for the period attributable to members
4,553,536
4,939,471
(7.81)
385,935
Net tangible asset/(deficiency) per share
0.112
0.063
-
Consolidated statement of profit or loss and other comprehensive income
Refer to attached consolidated financial statements.
-
Consolidated statement of financial position
Refer to attached consolidated financial statements.
-
Consolidated statement of cash flows
Refer to attached consolidated financial statements.
-
Consolidated statement of changes in equity
Refer to attached consolidated financial statements.
-
Dividends/Distributions
No dividends declared in current or prior year.
-
Details of dividend reinvestment plans
N/A
-
Details of entities over which control has been gained or lost during the period
N/A
-
Details of associate and joint venture entities
N/A
-
Any other significant information needed by an investor to make an informed assessment of the Company's financial performance and financial position
Refer to attached consolidated financial statements.
-
Foreign entities
Refer to attached consolidated financial statements.
-
Commentary on results for period and explanatory information
Cynata Therapeutics Limited and its controlled entities (the Group) incurred a net loss from operations for the financial year ended 30 June 2017 of $4,553,536 (2016: $4,939,471). At 30 June 2017, the Group had a cash balance of $10,349,764 (2016: $4,879,173) and net assets of
$13,864,596 (2016: $8,583,138). The net cash outflow from operating activities for the financial year was $4,115,408 (2016: $4,326,353). The Company's first mesenchymal stem cell (MSC) product, CYP-001, advanced to a Phase 1 clinical trial during the year for the treatment of Graft versus Host Disease (GvHD), with the first patient dosed in UK. This was a major milestone not only for Cynata, but also for regenerative medicine field globally as it is the first clinical trial in the world involving an allogenic, induced pluripotent stem cell (iPSC)-derived product. FUJIFILM Corporation of Japan took a $3.97 million stake in Cynata, as part of its strategic partnership with Cynata. Cynata also secured
$6 million (before costs) in an equity placement from institutional and sophisticated investors, bringing the total capital raised during the year to $10 million. Additionally, the Company received an R&D Tax Incentive refund of $1.748 million. For more information, refer to the attached consolidated financial statements.
- Audit
This report is based on accounts which have been audited and the audit report is included in the attached consolidated financial statements.
Dr. Ross Macdonald
Managing Director
24 August 2017
Cynata Therapeutics Limited |
ACN 104 037 372 and its controlled entities Annual report for the financial year ended 30 June 2017 |
Dr Paul Wotton Non-Executive Chairman
Dr Ross Macdonald Managing Director/Chief Executive Officer Dr Stewart Washer Non-Executive Director
Dr John Chiplin Non-Executive Director
Mr Peter Webse Non-Executive Director
Company SecretaryMr Peter Webse
Registered and Principal OfficeLevel 3, 62 Lygon Street
Carlton, Victoria 3053
Tel: +61 3 9824 5254
Fax: +61 3 9822 7735
Email: admin@cynata.com
Postal AddressPO Box 7165
Hawthorn North, Victoria 3122
WebsiteWebsite: www.cynata.com
AuditorsStantons International Level 2, 1 Walker Avenue
West Perth, Western Australia 6005
Share RegistryAutomic Registry Services Level 2, 267 St Georges Terrace Perth, Western Australia 6000 Tel: +61 8 9324 2099
Fax: +61 8 9321 2337
Stock ExchangeAustralian Securities Exchange Level 40, Central Park
152-158 St Georges Terrace Perth, Western Australia 6000
ASX Code
CYP
Cynata Therapeutics Limited
Cynata Therapeutics Ltd. published this content on 24 August 2017 and is solely responsible for the information contained herein.
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