$3.9 Billion All Cash Proposed Tender
Offer by Novartis
Advanced Accelerator Applications S.A.
(NASDAQ:AAAP) (AAA or the Company), a leader in nuclear medicine
theragnostics, today announced its financial results for the third
quarter ended September 30, 2017.
Stefano Buono, Chief Executive Officer of AAA,
commented, “The last few months have been truly transformative for
AAA. With European Commission’s approval of the marketing
authorization for lutetium Lu 177 dotatate* (Lutathera®), and the
continued growth of NETSPOT® and SomaKit TOC®, we have achieved our
vision of becoming the first radiopharmaceutical theragnostics
platform in the global oncology marketplace. We are progressing
with the commercial launch of lutetium Lu 177 dotatate*
(Lutathera®) in Europe, and are approaching the FDA PDUFA action
date. The Novartis tender offer adds to this momentum, and we
believe the proposed transaction will strategically position us to
further accelerate development of our other theragnostic pipeline
assets and maximize the impact of our platform on the oncology
market.”
Third Quarter 2017 Financial
Results
Total sales for the third quarter of 2017 were
€37.2 million (US$43.9 million(1)), a 39% increase compared to
€26.7 million (US$31.5 million(1)) in the third quarter of 2016.
The increase in sales was primarily driven by the PET product
category, which increased by 72% to €27.0 million (US$31.9
million(1)), compared to €15.8 million (US$18.7 million(1)) in the
prior year period. This includes €8.9 million (US$10.5 million(1))
in US sales of NETSPOT® in the third quarter. Therapeutic sales for
the third quarter were €5.4 million (US$6.4 million(1)), compared
to €5.4 million (US$6.4 million(1)). SPECT sales for the third
quarter were €2.1 million (US$2.5 million(1)), compared to €2.3
million (US$2.7 million(1)) for the third quarter of 2016. Third
quarter sales of other products were €2.7 million (US$3.2
million(1)), compared to €3.2 million (US$3.8 million(1)) for the
same period in 2016.
Operating loss for the third quarter was €3.7
million (US$4.4 million(1)), compared to a loss of €5.1 million
(US$6.0 million(1)) for the prior year period. The Company
experienced higher personnel costs and operating expenses during
the third quarter of 2017, primarily related to the launch of new
products and ongoing pipeline development; although these increases
were partially offset by higher revenues.
Net loss for the quarter was €22.7 million
(US$26.8 million(1)), compared to a net loss of €6.2 million
(US$7.3 million(1)) for the third quarter of 2016. The increase in
net loss was primarily the result of changes in fair value of
contingent consideration for prior owners of a AAA subsidiary.
Adjusted EBITDA (see corresponding
reconciliation exhibit below) for the quarter was a gain of €0.1
million (US$0.1 million(1)) compared to a loss of €1.7 million
(US$2.0 million(1)) for the same period in 2016.
Cash, cash equivalents and short-term
investments at September 30, 2017 were €192.7 million (US$227.6
million(1)).
(1) Translated solely for convenience into US$ at the noon
buying rate of €1.00 = $1.1813 at September 30, 2017.
Recent Operational Updates
On October 30, the Company announced that it has
entered into a Memorandum of Understanding with Novartis, pursuant
to which Novartis proposes to make a cash tender offer to acquire
all the outstanding shares of AAA, including shares represented by
American Depositary Shares (the “ADSs”), for US$41 per ordinary
share and US$82 per ADS (each representing 2 ordinary shares), in a
transaction that is valued at approximately US$3.9 billion. This
represents a 47% premium to the 30 volume-weighted trading days
prior to the unaffected share price on NASDAQ on September 27,
2017. The Memorandum of Understanding has been filed with the
U.S. Securities and Exchange Commission.
On September 29, the Company announced that the
European Commission has approved the marketing authorization of
lutetium Lu 177 dotatate* (Lutathera®) for “the treatment of
unresectable or metastatic, progressive, well differentiated (G1
and G2), somatostatin receptor positive GEP-NETs in adults”. This
approval allows for the marketing of lutetium Lu 177 dotatate*
(Lutathera®) in all 28 European Union member states, as well as
Iceland, Norway and Liechtenstein.
The FDA allowed production of lutetium Lu 177
dotatate* (Lutathera®) EAP doses at AAA’s Millburn, New Jersey
site.
On August 28, the Company announced that the FDA
has acknowledged receipt and considered complete the resubmission
of the NDA for lutetium Lu 177 dotatate* (Lutathera®). The Agency
provided a new PDUFA action date of January 26, 2018.
On September 6, the Company announced that the
first patient was treated in a Phase I clinical study of lutetium
Lu 177 dotatate* (Lutathera®) in patients with inoperable,
somatostatin receptor positive, progressive pancreatic,
gastrointestinal, or pulmonary NETs in Japan. The primary objective
of this open-label, uncontrolled, single-center, bridging study is
to evaluate the safety, tolerability, pharmacokinetics, and
dosimetry of lutetium Lu 177 dotatate* (Lutathera®) in
Japanese patients.
* USAN: lutetium Lu 177 dotatate/INN: lutetium (177Lu)
oxodotreotide
About USAN: lutetium
Lu 177 dotatate / INN: lutetium (177Lu)
oxodotreotide (Lutathera®)
USAN: lutetium Lu 177 dotatate/INN: lutetium
(177Lu) oxodotreotide (Lutathera®) is an investigational
177Lu-labeled somatostatin analog peptide. USAN: lutetium Lu 177
dotatate/INN: lutetium (177Lu) oxodotreotide (Lutathera®) belongs
to an emerging form of treatments called Peptide Receptor
Radionuclide Therapy (PRRT), which involves targeting tumors with
radiolabeled molecules that bind to specific receptors expressed by
the tumor. The European Commission approved the marketing
authorization of USAN: lutetium Lu 177 dotatate/INN: lutetium
(177Lu) oxodotreotide (Lutathera®) for the treatment of
unresectable or metastatic, progressive, well differentiated (G1
and G2), somatostatin receptor positive GEP-NETs in adults. An NDA
submission to the US Food and Drug Administration (FDA) for
lutetium Lu 177 dotatate (Lutathera®) is under review. The
Prescription Drug User Fee Act (PDUFA) action date is January 26,
2018. This novel compound has received orphan drug designation from
the European Medicines Agency (EMA) and the US Food and Drug
Administration (FDA). About Advanced
Accelerator Applications S.A.
Advanced Accelerator Applications (NASDAQ:AAAP)
is an innovative radiopharmaceutical company developing, producing
and commercializing molecular nuclear medicine theragnostics. AAA’s
theragnostic platform is based on radiolabeling a targeting
molecule with either gallium Ga 68 for diagnostic use, or lutetium
Lu 177 for therapy. AAA’s first theragnostic pairing for
neuroendocrine tumors includes diagnostic drugs NETSPOT® in the US
and SomaKit TOC® in Europe; and therapeutic USAN: lutetium Lu 177
dotatate/INN: lutetium (177Lu) oxodotreotide (Lutathera®), which is
approved for use in Europe and currently under review with the FDA.
Additional theragnostics in development target gastrointestinal
stromal tumors (GIST), and prostate and breast cancer. AAA is also
an established leader in molecular nuclear diagnostic
radiopharmaceuticals for PET and SPECT, mainly used in clinical
oncology, cardiology and neurology. Headquartered in
Saint-Genis-Pouilly, France, AAA currently has 21 production and
R&D facilities, and more than 550 employees in 13 countries
(France, Italy, the UK, Germany, Switzerland, Spain, Poland,
Portugal, The Netherlands, Belgium, Israel, the US and Canada). AAA
is listed on the Nasdaq Global Select Market under the ticker
“AAAP”. For more information, please visit: www.adacap.com.
About Molecular Nuclear Medicine
(“MNM”)
Molecular Nuclear Medicine is a medical
specialty using trace amounts of active substances, called
radiopharmaceuticals, to create images of organs and lesions, and
to treat various diseases, like cancer. The technique works by
injecting targeted radiopharmaceuticals into the patient’s body
that accumulate in the organs or lesions and reveal specific
biochemical processes. MNM can be divided in two branches:
Molecular Nuclear Diagnostics and Molecular Nuclear Therapy.
Molecular nuclear diagnostics employs a variety of imaging devices
and radiopharmaceuticals. PET (Positron Emission Tomography) and
SPECT (Single Photon Emission Computed Tomography) are highly
sensitive imaging technologies that enable physicians to diagnose
different types of cancer, cardiovascular diseases, neurological
disorders and other diseases in their early stages. Molecular
nuclear therapy uses radioactive sources (radionuclides) to treat a
range of tumor types. Using short-range particles, this therapy can
target tumors with little effect on normal tissues.
Reconciliation of adjusted EBITDA to net
loss for the period from continuing operations for the three and
nine months ended September 30, 2017 and 2016
|
|
|
|
Nine months |
Three months |
|
Nine months |
|
|
September30, 2017 |
|
September30, 2017 |
September30, 2016 |
|
September30, 2017 |
September30, 201 |
|
|
in USD thousands(1) |
|
In € thousands |
|
In € thousands |
|
|
|
|
|
|
|
|
|
| Net loss for
the period from continuing operations |
(51,898 |
) |
|
(22,741 |
) |
(6,243 |
) |
|
(43,933 |
) |
(10,651 |
) |
| |
|
|
|
|
|
|
|
|
Adjustments |
|
|
|
|
|
|
|
| Finance income
(including changes in fair value of contingent consideration) |
(10,098 |
) |
|
(1,214 |
) |
(427 |
) |
|
(8,548 |
) |
(812 |
) |
| Finance costs
(including changes in fair value of contingent consideration) |
40,930 |
|
|
19,577 |
|
1,502 |
|
|
34,648 |
|
4,659 |
|
| Income taxes |
1,977 |
|
|
689 |
|
25 |
|
|
1,674 |
|
(422 |
) |
| Depreciation and
amortization |
13,273 |
|
|
3,817 |
|
3,411 |
|
|
11,236 |
|
9,838 |
|
| |
|
|
|
|
|
|
|
|
Adjusted EBITDA |
(5,816 |
) |
|
128 |
|
(1,732 |
) |
|
(4,923 |
) |
2,612 |
|
|
Sales |
125,702 |
|
|
37,245 |
|
26,723 |
|
|
106,410 |
|
81,282 |
|
|
Adjusted EBITDA margin |
-4.63 |
% |
|
0.34 |
% |
-6.48 |
% |
|
-4.63 |
% |
3.21 |
% |
| |
|
|
|
|
|
|
|
| (1)
Translated solely for convenience into dollars at the noon buying
rate of EUR 1.00 = USD 1.1813 at September 29, 2017. |
|
|
Additional Information
This press release is neither an offer to
purchase nor a solicitation of an offer to sell securities. The
tender offer for the outstanding ordinary shares and American
Depositary Shares of AAA described in this press release has not
commenced. At the time the tender offer is commenced, Novartis and
an indirect wholly owned subsidiary of Novartis (“Purchaser”) will
file, or will cause to be filed, a Schedule TO Tender Offer
Statement with the U.S. Securities and Exchange Commission (the
“SEC”) and AAA will file a Schedule 14D-9
Solicitation/Recommendation Statement with the SEC, in each case
with respect to the tender offer. The Schedule TO Tender Offer
Statement (including an offer to purchase, a related letter of
transmittal and other offer documents) and the Schedule 14D-9
Solicitation/Recommendation Statement will contain important
information that should be read carefully before any decision is
made with respect to the tender offer. Those materials and all
other documents filed by, or caused to be filed by, Novartis and
Purchaser with the SEC will be available at no charge on the SEC’s
website at www.sec.gov. The Schedule TO Tender Offer Statement and
related materials may be obtained for free under the “Investors –
Financial Data” section of Novartis website at
https://www.novartis.com/investors/financial-data/sec-filings. The
Schedule 14D-9 Solicitation/Recommendation Statement and such other
documents may be obtained for free from the Company under the
“Investor Relations” section of the Company’s website at
http://investorrelations.adacap.com/.
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains forward-looking
statements. All statements, other than statements of historical
facts, contained in this press release, including statements
regarding the Company's strategy, future operations, future
financial position, future revenues, projected costs, prospects,
plans and objectives of management, are forward-looking statements.
The words "anticipate," "believe," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "target," "potential," "will,"
"would," "could," "should," "continue," and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements that appear in a number of places in
this press release include the Company's current expectation
regarding future events and various matters, including expected
timing of filings with the FDA, approval dates and expansion of
NETSPOT®. These forward-looking statements involve risks and
uncertainties that may cause actual results, events or developments
to be materially different from any future results, events or
developments expressed or implied by such forward-looking
statements. Such factors include, but are not limited to, changing
market conditions, the successful and timely completion of clinical
studies, the timing of our submission of applications for
regulatory approvals, FDA and other regulatory approvals for our
product candidates, the occurrence of side effects or serious
adverse events caused by or associated with our products and
product candidates; our ability to procure adequate quantities of
necessary supplies and raw materials for USAN: lutetium Lu 177
dotatate/INN: lutetium (177Lu) oxodotreotide (Lutathera®) and other
chemical compounds acceptable for use in our manufacturing
processes from our suppliers; our ability to organize timely and
safe delivery of our products or product candidates by third
parties; any problems with the manufacture, quality or performance
of our products or product candidates; the rate and degree of
market acceptance and the clinical utility of USAN: lutetium Lu 177
dotatate/INN: lutetium (177Lu) oxodotreotide (Lutathera®) and our
other products or product candidates; our estimates regarding the
market opportunity for USAN: lutetium Lu 177 dotatate/INN: lutetium
(177Lu) oxodotreotide (Lutathera®), our other product candidates
and our existing products; our anticipation that we will generate
higher sales as we diversify our products; our ability to implement
our growth strategy including expansion in the US; our ability to
sustain and create additional sales, marketing and distribution
capabilities; our intellectual property and licensing position;
legislation or regulation in countries where we sell our products
that affect product pricing, taxation, reimbursement, access or
distribution channels; regulatory actions or litigation; and
general economic, political, demographic and business conditions in
Europe, the US and elsewhere. Except as required by applicable
securities laws, we undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contacts:
AAA Corporate Communications Rachel
LevineDirector of Communications rachel.levine@adacap.comTel: +
1-212-235-2395
AAA Investor Relations Jordan Silverstein Head
of Investor Relations jordan.silverstein@adacap.com Tel: +
1-212-235-2394
Media inquiries:
Makovsky & CompanyLee
Daviesldavies@makovsky.comTel: +212-508-9651
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2017 AND 2016
|
|
|
|
|
|
|
|
| |
|
Three months |
|
Nine months |
| In €
thousands |
|
September30, 2017 |
September30, 2016 |
|
September30, 2017 |
September30, 2016 |
|
|
|
|
|
|
|
|
| Sales |
|
37,245 |
|
26,723 |
|
|
106,410 |
|
81,282 |
|
| Raw materials and
consumables used |
|
(9,416 |
) |
(6,072 |
) |
|
(26,248 |
) |
(17,268 |
) |
| Personnel costs |
|
(14,213 |
) |
(10,789 |
) |
|
(40,747 |
) |
(29,716 |
) |
| Other operating
expenses |
|
(14,813 |
) |
(12,277 |
) |
|
(47,912 |
) |
(35,190 |
) |
| Other operating
income |
|
1,325 |
|
683 |
|
|
3,574 |
|
3,504 |
|
| Depreciation and
amortization |
|
(3,817 |
) |
(3,411 |
) |
|
(11,236 |
) |
(9,838 |
) |
| |
|
|
|
|
|
|
|
Operating loss |
|
(3,689 |
) |
(5,143 |
) |
|
(16,159 |
) |
(7,226 |
) |
|
|
|
|
|
|
|
|
| Finance income
(including changes in fair value of contingent consideration) |
|
1,214 |
|
427 |
|
|
8,548 |
|
812 |
|
| Finance costs
(including changes in fair value of contingent consideration) |
|
(19,577 |
) |
(1,502 |
) |
|
(34,648 |
) |
(4,659 |
) |
| |
|
|
|
|
|
|
|
Net finance loss |
|
(18,363 |
) |
(1,075 |
) |
|
(26,100 |
) |
(3,847 |
) |
| |
|
|
|
|
|
|
|
Loss before income taxes |
|
(22,052 |
) |
(6,218 |
) |
|
(42,259 |
) |
(11,073 |
) |
| |
|
|
|
|
|
|
| Income taxes |
|
(689 |
) |
(25 |
) |
|
(1,674 |
) |
422 |
|
| |
|
|
|
|
|
|
|
Loss for the period |
|
(22,741 |
) |
(6,243 |
) |
|
(43,933 |
) |
(10,651 |
) |
| |
|
|
|
|
|
|
| Attributable
to: |
|
|
|
|
|
|
| Owners of
the Company |
|
(22,741 |
) |
(6,243 |
) |
|
(43,933 |
) |
(10,651 |
) |
| |
|
|
|
|
|
|
| Loss per
share |
|
|
|
|
|
|
| Basic (€ per
share) |
|
(0.26 |
) |
(0.08 |
) |
|
(0.50 |
) |
(0.14 |
) |
| Diluted
(€ per share) |
|
(0.26 |
) |
(0.08 |
) |
|
(0.50 |
) |
(0.14 |
) |
| |
|
|
|
|
|
|
Some non-significant figures in the nine-month period ended
September 30, 2016 were reclassified for comparison purposes,
without impact to net results.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME
THREE AND NINE MONTHS ENDED SEPTEMBER 2017 AND 2016
|
|
|
|
|
|
|
|
| |
|
Three months |
|
Nine months |
|
In € thousands |
|
September30, 2017 |
September30, 2016 |
|
September30, 2017 |
September30, 2016 |
|
Loss for the period |
|
(22,741 |
) |
(6,243 |
) |
|
(43,933 |
) |
(10,651 |
) |
| |
|
|
|
|
|
|
| Other
comprehensive income / (expense): |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Items that may
be reclassified subsequent to profit or loss |
|
|
|
|
|
|
| Exchange differences on
translating foreign operations |
|
(690 |
) |
25 |
|
|
(56 |
) |
(374 |
) |
| |
|
|
|
|
|
|
| Items that will
never be reclassified subsequent to profit or loss |
|
|
|
|
|
|
| Remeasurement of
defined benefit liability |
|
(13 |
) |
9 |
|
|
2 |
|
(34 |
) |
| |
|
|
|
|
|
|
|
Other comprehensive income / (expense) net of tax
(1) |
|
(703 |
) |
34 |
|
|
(54 |
) |
(408 |
) |
|
Total comprehensive loss for the year |
|
(23,444 |
) |
(6,209 |
) |
|
(43,987 |
) |
(11,059 |
) |
| |
|
|
|
|
|
|
| Total
comprehensive loss attributable to: |
|
|
|
|
|
|
| Owners of
the Company |
|
(23,444 |
) |
(6,209 |
) |
|
(43,987 |
) |
(11,059 |
) |
| |
|
|
|
|
|
|
| (1)
Negative tax effect of €8,000 for the three months ended September
30, 2017 and negative tax effect of €5,000 for the three months
ended September 30, 2016. |
|
|
| Negative
tax effect of €19,000 for the nine months ended September 30, 2017
and positive tax effect of €17,000 for the nine months ended
September 30, 2016. |
|
|
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL
POSITION
AT SEPTEMBER 30, 2017 AND DECEMBER 31, 2016
| |
|
|
|
ASSETS (in € thousands) |
September 30,2017 |
December 31,2016 |
|
Non-current assets |
140,067 |
|
149,695 |
|
|
Goodwill |
33,384 |
|
34,070 |
|
| Other
intangible assets |
40,332 |
|
45,027 |
|
| Property,
plant and equipment |
58,338 |
|
63,915 |
|
| Financial
assets |
1,748 |
|
2,187 |
|
| Other
non-current assets |
5,650 |
|
3,941 |
|
| Deferred
Tax assets |
615 |
|
555 |
|
|
Current assets |
251,277 |
|
269,048 |
|
|
Inventories |
12,514 |
|
8,100 |
|
| Trade and
other receivables |
37,882 |
|
31,079 |
|
| Other
current assets |
8,202 |
|
7,789 |
|
|
Short-term investment |
22,000 |
|
- |
|
|
Cash and cash equivalents |
170,679 |
|
222,080 |
|
|
TOTAL ASSETS |
391,344 |
|
418,743 |
|
| |
|
|
|
EQUITY AND LIABILITIES (in € thousands) |
September 30,2017 |
December 31,2016 |
|
Equity attributable to owners of the Company |
266,622 |
|
299,461 |
|
| Share
capital |
8,833 |
|
8,795 |
|
| Share
premium |
361,708 |
|
360,085 |
|
| Reserves
and retained earnings |
(59,986 |
) |
(44,125 |
) |
|
Net loss for the period/year |
(43,933 |
) |
(25,294 |
) |
|
Total equity |
266,622 |
|
299,461 |
|
|
Non-current liabilities |
78,939 |
|
79,540 |
|
|
Non-current provisions |
11,265 |
|
12,725 |
|
|
Non-current financial liabilities |
10,161 |
|
12,302 |
|
| Deferred
tax liabilities |
3,726 |
|
4,649 |
|
| Other
non-current liabilities |
53,787 |
|
49,864 |
|
|
Current liabilities |
45,783 |
|
39,742 |
|
| Current
provisions |
4,745 |
|
1,135 |
|
| Current
financial liabilities |
3,371 |
|
4,017 |
|
| Trade and
other payables |
19,913 |
|
20,119 |
|
| Other
current liabilities |
17,754 |
|
14,471 |
|
|
Total liabilities |
124,722 |
|
119,282 |
|
|
TOTAL EQUITY AND LIABILITIES |
391,344 |
|
418,743 |
|
| |
|
|
|
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS
NINE MONTHS ENDED SEPTEMBER 30, 2017 AND 2016
| |
|
|
| |
Nine months |
|
In € thousands |
September 30,2017 |
September 30,2016 |
| Cash flows from
operating activities |
|
|
| Net loss for the
period |
(43,933 |
) |
(10,651 |
) |
| |
|
|
| Adjustments: |
|
|
| Depreciation,
amortization and impairment of non-current assets |
11,236 |
|
9,838 |
|
| Share based payment
expense |
9,487 |
|
4,220 |
|
| (Gain) / Loss on
disposal of property, plant and equipment |
(33 |
) |
265 |
|
| Financial result |
26,100 |
|
3,847 |
|
| Income tax expense |
1,674 |
|
(422 |
) |
| Negative goodwill |
- |
|
(127 |
) |
| Subsidies income |
(298 |
) |
- |
|
|
Subtotal |
4,233 |
|
6,970 |
|
| |
|
|
| Increase in
inventories |
(4,566 |
) |
(2,140 |
) |
| Increase in trade
receivables |
(7,465 |
) |
(4,836 |
) |
| Increase in trade
payables |
287 |
|
1,900 |
|
| Change in other
receivables and payables |
(648 |
) |
(5,259 |
) |
| Increase in
provisions |
1,843 |
|
864 |
|
|
Change in working capital |
(10,549 |
) |
(9,471 |
) |
| |
|
|
| Income tax paid |
(1,549 |
) |
(1,821 |
) |
|
Net cash used in operating activities |
(7,865 |
) |
(4,322 |
) |
| |
|
|
| Cash flows from
investing activities |
|
|
| Acquisition of
property, plant and equipment |
(3,496 |
) |
(10,234 |
) |
| Acquisition of
intangible assets |
(520 |
) |
(1,241 |
) |
| Acquisition of
financial assets |
(71 |
) |
(62 |
) |
| Repayment of financial
assets |
454 |
|
383 |
|
| Acquisition of
short-term investment |
(22,000 |
) |
- |
|
| Interest received |
1,153 |
|
389 |
|
| Proceeds from disposal
of property, plant and equipment |
66 |
|
86 |
|
| Net proceeds from
government grants |
440 |
|
37 |
|
| Acquisition of
subsidiaries, net of cash acquired |
- |
|
(22,453 |
) |
|
Net cash used in investing activities |
(23,974 |
) |
(33,095 |
) |
| |
|
|
| Cash flows from
financing activities |
|
|
| Payment of deferred and
contingent liabilities to former owners of acquired
subsidiaries |
(3,581 |
) |
(2,878 |
) |
| Exercise and
subscription of warrants |
1,661 |
|
- |
|
| Proceeds from
borrowings |
333 |
|
- |
|
| Repayment of
borrowings |
(3,147 |
) |
(4,397 |
) |
| Interest paid |
(311 |
) |
(405 |
) |
| Other finance costs
payments |
(172 |
) |
- |
|
|
Net cash used in financing activities |
(5,217 |
) |
(7,680 |
) |
| |
|
|
|
Net decrease in cash and cash equivalents |
(37,056 |
) |
(45,097 |
) |
| |
|
|
| Cash and cash
equivalents at the beginning of the year |
222,080 |
|
118,886 |
|
| Effect of exchange rate
changes on cash and cash equivalents |
(14,345 |
) |
(912 |
) |
|
Cash and cash equivalents at the end of the
period |
170,679 |
|
72,877 |
|
| |
|
|
ADVANCED ACCELERATOR APPLICATION (NASDAQ:AAAP)
Historical Stock Chart
From Oct 2024 to Nov 2024
ADVANCED ACCELERATOR APPLICATION (NASDAQ:AAAP)
Historical Stock Chart
From Nov 2023 to Nov 2024
