BioAlliance Pharma and Topotarget's new merged company Onxeo makes 1st-half 2014 operating loss

Orphan oncology drug specialist Onxeo (Euronext Paris: ONXEO), created by a merger between French company BioAlliance Pharma, and Danish biopharmaceutical company Topotarget, has made an operating loss in the first half of 2014, but are laying the foundations for the new company.

It reported revenues of 6.5 million euros ($8.8 million), a loss of 23% on BioAlliance’s figures for the same half in 2013, although the figures it has reported do not include the strengthening of its cash level brought about by the 14.2 million euro contribution from the merger with Topotarget, which only took place on June 30. This amount includes milestones received from Spectrum Pharmaceuticals earlier this year upon the acceptance of Belodaq’s New Drug Application from the US Food and Drug Administration.

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