WINNIPEG, March 11, 2019 /CNW/ - Waverley Pharma Inc. ("Waverley Pharma" or the "Company") (TSXV:WAVE), an emerging Canadian pharmaceutical company, today reported unaudited preliminary net revenue for the fourth quarter and full 2018 fiscal year. All amounts referenced herein are in Canadian dollars. Estimated net revenue is $200,000 for the quarter ended December 31, 2018, and the year ended December 31, 2018. The estimated revenue is from sales of two generic oncology products, temozolomide and capecitabine, in the United Kingdom.
Year Ended December 31, 2018 Highlights:
- Filed Marketing Authorization Applications in the United States and select European countries in the first half of fiscal 2018 for two anti-cancer injectable generic products;
- Appointed new CEO, Dr. Theron (Ted) Odlaug, in July 2018;
- Acquired two generic oncology products, temozolomide and capecitabine, and initiated sales in the United Kingdom in the fourth quarter of fiscal 2018;
- Preliminary net revenue estimate for the quarter and year ended December 31, 2018 is $200,000.
About Waverley Pharma
Waverley Pharma is an emerging pharmaceutical company focused on the development and commercialization of effective and affordable cancer therapeutics in the EU and North American market. The Company has two generic oncology products at the regulatory filing stage, and is currently marketing two additional generic oncology products, temozolomide and capecitabine, in the United Kingdom. Waverley Pharma is committed to providing patients with affordable prescription medicines that lower healthcare costs and provide a better quality of life. For more information on Waverley Pharma please visit www.waverleypharma.com.
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Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements, include the receipt of binding contracts with the UK National Health Service, the eventual launch of WAV-101 and 102 in the United States and European Union, preliminary net revenue and loss amounts and other regulatory filings, estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, the Company's potential product revenues, stage of development, additional capital requirements, risks associated with the completion and timing of clinical trials and obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities.
SOURCE Waverley Pharma Inc.
For further information: Dr. Ted Odlaug, Chief Executive Officer, Tel: (204) 928-7900, E-mail: [email protected], or visit www.waverleypharma.com