New Venturetec revenue expectation for the first half of the fiscal year 2016/2017 ended March 31, 2017

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New Venturetec revenue expectation for the first half of the fiscal year 2016/2017 ended March 31, 2017

 

Zug, April 6, 2017. New Venturetec ended its first half of the fiscal year 2016/17 per March 31, 2017. Based on the current valuations of the portfolio companies New Venturetec expects a loss in the range of USD 0.6 to USD 1 million or USD 0.12 to USD 0.20 per share for the first half of the fiscal year 2016/17. The loss is mainly a result of the decrease of the public traded share price of Osiris Therapeutics from USD 4.96 to USD 4.80 (-3.23%) and Myriad Genetics from USD 20.58 to USD 19.20 (-6.71%) in the reporting period. The estimated numbers could change materially during the course of the semi-annual valuation process of the portfolio, which will be done in the coming weeks. The final semi-annual financials, together with the semi-annual report of New Venturetec 2016/17 will be published on May 24, 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
Peter Friedli
Chollerstrasse 35
6300 Zug
Tel: 041 740 25 25
Email: info@newventuretec.com