Non-current liabilities mainly included bond loans (20,897 K EUR), two bank debts for 1,084 K EUR and conditional advances. They amount to 27,208 K EUR as at 30 June 2013, as compared with 15,373 K EUR as at 31 December 2012, which is a 12,302 K EUR increase, related to the issue of the new bond loan (12,508 K EUR). The bonds are convertible into shares at any time at the initiative of the bondholder, may be reimbursed by anticipation in cash at the option of AB Science under certain conditions, or they will be repayable in full in cash on the seventh anniversary of the issue date at their nominal value.
Risk factors and uncertainties
The main risks and uncertainties to which the Company is exposed for the first six months and the remaining six months of 2013 are the risks and uncertainties described in Chapter 5 of the annual financial report as at 31 December 2012.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), a new class of targeted molecules whose action is to modify signaling pathways within cells. Through these PKIs, the Company targets diseases with high unmet medical needs (cancer, inflammatory diseases, and central nervous system diseases), in both human and veterinary medicines.
AB Science has developed a proprietary portfolio of molecules and the Company's lead compound, masitinib, has already been registered for veterinary medicine in Europe and in the USA, and is pursuing nine on-going phase 3 studies in human medicine in GIST in 1st and 2nd line of treatment, metastatic melanoma expressing JM mutation of c-Kit, multiple myeloma, mastocytosis, severe persistent asthma, rheumatoid arthritis, Alzheimer disease and progressive multiple sclerosis. The company is headquartered in Paris, France, and listed on Euronext Paris (ticker: AB).
More information is available on our website: www.ab-science.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy AB Science shares. If you wish to obtain more comprehensive information about AB Science, please refer to documents available on our website www.ab-science.com. This release may contain certain forward-looking statements. Although the Company believes that these statements are based upon reasonable assumptions at the date of publication of this document, they are inherently subject to risks and uncertainties which could cause actual results to differ from the present figures and those expressed or implied in these statements.