This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

ThromboGenics Business Update

Commercializing JETREA ® (ocriplasmin)   in the US

  • JETREA ® launched in the US on 14 January as the first pharmacological treatment for symptomatic vitreomacular adhesion (VMA)
  • Highly focused commercial team, including specialty sales force, now working to drive the US sales of JETREA ®
  • In absence of J-code, reimbursement specialists educate physicians on ThromboGenics' comprehensive reimbursement support program to assist US physicians in gaining reimbursement for JETREA ® and explaining relevant patient assistance programs
  • Code (reimbursement code) should be in place from 1 January 2014  - J-code will automate 'bill and payment' process for practices

Positive reaction to JETREA ® from US retina community:

  • Sales of $10.2 million since the product's US launch through the end of April
  • 40% of total targeted retina practices have ordered JETREA ®
  • 50% of these practices have reordered the product

Commercializing JETREA ® in Europe and ROW

  • In March 2013, the European Medicines Agency (EMA) approved JETREA ® for the treatment of vitreomacular traction (VMT), including when associated with macular hole of diameter less than or equal to 400 microns
  • The EU approval led to ThromboGenics receiving a €45 million milestone payment from Alcon
  • Thrombogenics received a further €45 million payment from Alcon in April 2013 for the first order of JETREA ® in Europe

JETREA ® Phase IIa wet AMD trial reporting:

  • ThromboGenics today reports positive data from a Phase IIa study showing that JETREA ® has potential to resolve VMA in patients with wet age-related macular degeneration (wAMD)
  • In the study, at Day 28 (primary endpoint, p=0.26), 24% of the treated patients achieved resolution compared to 12% in the sham injection arm
  • No unexpected safety issues were identified, and the safety profile is in keeping with the previous pivotal trial data
  • To confirm these clinical results, further larger studies to confirm clinical benefits are warranted

Financial Update

  • At the end of April 2013, the Company had a cash balance exceeding €200 million
  • In March, the Company's shares started trading as part of the BEL20 index on the Euronext stock exchange.

Dr  Patrik De Haes, CEO of ThromboGenics, said: " The start of 2013 has been a very positive period for ThromboGenics with our lead product JETREA ®   being launched in the  US  and  Europe . As a result, patients and physicians on both sides of the  Atlantic  now have access to the first pharmacological treatment for symptomatic VMA/VMT, an important sight-threatening condition. We are pleased with the positive reaction to JETREA ®   from the US retina community, and are confident that this momentum will continue.

"The EU approval of JETREA ®   and its recent launch in the UK and Germany triggered a total of €90 million in milestone payments from Alcon. These funds strengthen our financial position, and will allow us to invest further in the US commercialization of JETREA ® , develop new indications for this novel medicine and expand our R&D pipeline. Over the next 12 months we expect to generate further shareholder value as the US sales of JETREA ®   continue to build and we receive royalties from Alcon as JETREA ®   continues to be rolled out across Europe."  

Ends

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,071.22 -41.93 -0.24%
S&P 500 1,977.80 -5.05 -0.25%
NASDAQ 4,505.8520 -6.3420 -0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs