New Venturetec annual results expectation for the fiscal year 2016/17
New Venturetec: Result expectation for the fiscal year 2016/2017 ended September 30, 2017
Zug, October 4, 2017. New Venturetec ended its fiscal year 2016/17 on September 30, 2017. Based on the current valuations of the portfolio companies New Venturetec expects a net profit of approximately USD 250,000 or USD 0.05 per share. The main reason for the result is the increase of the traded share price of Myriad Genetics, from USD 20.58 to USD 36.18 (+75.80%) and the decrease of the traded share price of Osiris Therapeutics, from USD 4.96 per share to USD 4.60 (-7.25%) per share. The estimated numbers could change materially during the course of the end year valuation process of the portfolio, which will be done in the coming weeks. The final annual financials, together with the annual report of New Venturetec 2016/17 will be published on November 6, 2017.
New Venturetec did not give any guidance on its performance for the first half of the fiscal year 2016/17 and has never done so in the past.
About New Venturetec
New Venturetec is a publicly traded Swiss investment company (SIX: NEV) which holds participations in venture companies in the areas of biotechnology and technology which are domiciled in the USA.
The investment horizon should be 10 years or more. A shareholder is recommended to follow the development with interest and base an investment or disinvestment decision on results of the development of the portfolio companies rather than on the general capital market and the investors’ sentiment. Any investor should only invest in New Venturetec if he can afford the complete loss of the investment without having to change his lifestyle. Significant risk is involved and the timelines may exceed the expectations. In addition, the market of New Venturetec shares is very illiquid. The risks of venture investments are 100%. The total loss of the investment has to be considered as a realistic possibility.
For further information:
New Venturetec AG
Tel: 041 740 25 25