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Evolva reports revenues up 59% in 2009. Funding has been secured for next 2-3 years.
Neil Goldsmith, CEO and Managing Director commented “2009 was an exciting and pivotal year for Evolva. After raising CHF 45.6 million of fresh funds and merging with Arpida we find ourselves in a strong position to move the company to the next stage. Our financial results for 2009 are satisfactory. The continued growth in our revenues along with the expected increase in operating cost led to a moderate increase in the net loss. In 2010, we will focus on delivering on our existing partnerships, establishing new ones and moving our key compounds forward through late preclinical and clinical development.”
Financial review:
This review presents the financial development of Evolva SA and its subsidiaries until 11 December 2009 and the financial development of Evolva Holding SA and its subsidiaries (the “Evolva Group”) from 11 December 2009 onwards. The review does not cover the financial development of Arpida Ltd. prior to the combination with Evolva SA in December 2009.
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