New Venturetec annual results expectation for the fiscal year 2015/16
New Venturetec: Result expectation for the fiscal year 2015/2016 ended September 30, 2016
Steinhausen, October 6, 2016. New Venturetec ended its fiscal year 2015/16 on September 30, 2016. Based on the current valuations of the portfolio companies New Venturetec expects a consolidated net loss of approximately USD 60,000,000 or USD 12.00 per share. The main reasons for the loss is the decrease of the traded share prices of Osiris Therapeutics, from USD 18.47 per share to USD 4.96 per share, and Myriad Genetics, from USD 37.48 to USD 20.58. 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 2015/16 will be published on November 7, 2016.
New Venturetec did not give any guidance on its performance for the fiscal year 2015/16 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.
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