BRUSSELS, Nov 12 (Reuters) - Belgian biotech company ThromboGenics is considering a capital increase to fund further growth, the group's chief financial officer said on Thursday.
'We do not exclude that (a capital increase). Sooner or later we will probably go to the capital market,' Chief Financial Officer Chris Buyse told Reuters, though he declined to comment further on timing.
If and when ThromboGenics decides to go ahead with a capital increase, it would likely ask KBC Securities and brokerage Petercam to lead the transaction, Buyse said.
Belgian daily De Standaard reported on Thursday that ThromboGenics planned to raise 40 million euros ($60 million) in new shares.
The copmpany's shares were down 3.5 percent at 16.5 euros at 0830 GMT, while the DJ Stoxx healthcare sector index was up 0.3 percent.
ThromboGenics said earlier this month it had completed patient enrolment for the U.S. Phase III study of its lead product microplasmin for treatment of back-of-the-eye disease.
Recruitment for its second Phase III trial was making good progress, it said.
The group, which develops drugs for conditions related to the vascular system, such as cardiovascular disease, visual disorders and cancer, also said at the time it had completed patient recruitment for a Phase II study for TB-402, its drug to prevent blood clots.
Thrombogenics had 43.1 million euros in cash and cash equivalents at the end of September, down from 60.9 million a year before. That could increase to some 80 million euros after the capital increase, De Standaard said.
(Writing by Antonia van de Velde; Editing by Will Waterman)
($1=.6668 Euro) Keywords: THROMBOGENICS/ (antonia.vandevelde@thomsonreuters.com; Reuters Messaging: antonia.vandevelde.thomsonreuters.com@reuters.net; +32 2 287 6810, fax +32 2 230 7710) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We do not exclude that (a capital increase). Sooner or later we will probably go to the capital market,' Chief Financial Officer Chris Buyse told Reuters, though he declined to comment further on timing.
If and when ThromboGenics decides to go ahead with a capital increase, it would likely ask KBC Securities and brokerage Petercam to lead the transaction, Buyse said.
Belgian daily De Standaard reported on Thursday that ThromboGenics planned to raise 40 million euros ($60 million) in new shares.
The copmpany's shares were down 3.5 percent at 16.5 euros at 0830 GMT, while the DJ Stoxx healthcare sector index was up 0.3 percent.
ThromboGenics said earlier this month it had completed patient enrolment for the U.S. Phase III study of its lead product microplasmin for treatment of back-of-the-eye disease.
Recruitment for its second Phase III trial was making good progress, it said.
The group, which develops drugs for conditions related to the vascular system, such as cardiovascular disease, visual disorders and cancer, also said at the time it had completed patient recruitment for a Phase II study for TB-402, its drug to prevent blood clots.
Thrombogenics had 43.1 million euros in cash and cash equivalents at the end of September, down from 60.9 million a year before. That could increase to some 80 million euros after the capital increase, De Standaard said.
(Writing by Antonia van de Velde; Editing by Will Waterman)
($1=.6668 Euro) Keywords: THROMBOGENICS/ (antonia.vandevelde@thomsonreuters.com; Reuters Messaging: antonia.vandevelde.thomsonreuters.com@reuters.net; +32 2 287 6810, fax +32 2 230 7710) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.