Interim Results for the Six Months Ended 31 December 2020
Alkindi® sales grow while new deals enable further geographic expansion; EMA approval of second drug, Chronocort®, expected in Q1 2021
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces its results for the six months ended 31 December 2020 (the “Period”) and follows publication of a trading update on 14 January 2021.
Martin Whitaker, PhD, Chief Executive Officer of Diurnal, commented:
“Diurnal has continued to make excellent progress during the Period in making Alkindi® available to patients around the world. Notably, Alkindi® Sprinkle received regulatory approval in the US and was subsequently launched there by our partner, Eton. We are pleased with the growth in Alkindi® revenues, despite previously highlighted pandemic-related restrictions in Europe, and look forward to this growth accelerating, especially when pandemic restrictions begin to lift.”
“Looking forward, our commercial focus is now on preparation for the anticipated approval and initial launches of Chronocort® in congenital adrenal hyperplasia during 2021, to significantly expand our European cortisol deficiency franchise, towards profitability. Separately, we continue to make good progress in development activities with Chronocort® in the US and Japan, as well as potential indication expansion into adrenal insufficiency. In addition, we are preparing for the next phase of development of DITEST™ in the US as an innovative, testosterone-based, potential treatment for hypogonadism and this is a major commercial opportunity within our pipeline of products.”
In the Interim Results:
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
For further information, please visit www.diurnal.co.uk or contact:
Diurnal Group plc +44 (0)20 3727 1000
Martin Whitaker, Chief Executive Officer
Richard Bungay, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker) +44 (0) 20 7886 2500
Corporate Finance: Freddy Crossley, Emma Earl
Corporate Broking: Rupert Dearden
FTI Consulting +44 (0)20 3727 1000
Victoria Foster Mitchell
Consolidated income statement
for the six months ended 31 December 2020
Notes to Editors
About Diurnal Group plc
Founded in 2004, Diurnal is a UK-headquartered, European specialty pharma company developing hormone therapeutics for the global market for the life-long treatment of chronic endocrine conditions, including congenital adrenal hyperplasia, adrenal insufficiency and hypogonadism. Its expertise and innovative research activities focus on circadian-based endocrinology to yield novel product candidates in the rare and chronic endocrine disease arena.
For further information about Diurnal, please visit www.diurnal.co.uk
Forward looking statements
Certain information contained in this announcement, including any information as to the Group’s strategy, plans or future financial or operating performance, constitutes “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “projects”, “expects”, “intends”, “aims”, “plans”, “predicts”, “may”, “will”, “seeks” “could” “targets” “assumes” “positioned” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors concerning, among other things, the Group’s results of operations, financial condition, prospects, growth, strategies and the industries in which the Group operates. The directors of the Company believe that the expectations reflected in these statements are reasonable but may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future or are beyond the Group’s control. Forward-looking statements are not guarantees of future performance. Even if the Group’s actual results of operations, financial condition and the development of the industries in which the Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods.
View full document: Interim Results for the Six Months Ended 31 December 2020
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