Ablynx 2014 financial results sees loss decrease thanks to collaborations

Belgian drug developer Ablynx (Euronext Brussels: ABLX) has released its 2014 full year results, reporting a decreased loss from 2013 as a result of payments through key collaborations.

Total revenue and grant income was 49.3 million euros ($55.9 million), up 37% from 35.9 million euros in 2013, driven by higher FTE funding and higher recognized income from the upfront payments received from collaborators such as AbbVie and Merck & Co. The net loss for 2014 decreased to 12.7 million euros from 2013’s loss of 19.5 million euros.

Edwin Moses, chief executive of Ablynx, said: “This was yet another very important year for Ablynx as we continued to make good progress with our lead clinical programs and took our first steps towards establishing an infrastructure to enable our own commercialization of certain Nanobody programs. With a well-balanced pipeline of partnered and wholly-owned later-stage clinical assets and various innovative early stage programs, we are entering an exciting period during which we will continue to focus on delivering sustainable value to all our stakeholders.”