New Venturetec Semi - Annual Results 2015
New Venturetec results for the first half of the fiscal year 2014/2015 ended March 31, 2015
Results for the six months period ending March 31, 2015
Steinhausen, May 22, 2015. New Venturetec closed the first six months of the fiscal year 2014/15, ended March 31, 2015, with a gain of USD 14,552,789 compared with a loss of USD 15,528,399 in the same period 2013/14. The net asset value per share increased from USD 9.93 to USD 12.85 which equals 29.4% during the reporting six month period. The share price in the same period increased from CHF 5.00 to CHF 5.55, or 11.0%.
The gain is mainly a result of the increase of the public traded share price of Osiris Therapeutics (NASDAQ:OSIR) from USD 12.95 to USD 17.58, or 35.8% in the reporting period. Myriad Genetics (NASDAQ:MYGN), decreased from USD 38.57 to 35.40 or 8.2% in the reporting period. Per March 31, 2015, the Myriad share price is 22.4% higher compared to the average investment price. The valuation of the investment in the private company mPortal was reduced from USD 12.9 million to USD 8.2 million in the reporting period. The valuations of the other private portfolio holdings did not change materially in the reporting period. The details on the valuation of the privately held companies are described in the semi-annual report.
As of March 31, 2015, New Venturetec had five investments with two investments valued higher and two below investment costs. One investment is held at cost. The total value of investments is USD 88,679,072, which results in an unrealized gain of USD 32,421,169 against the costs of the investments. As of March 31, 2015, 89.1% of the total investments are in biotechnology and 10.9% in technology. The largest position is Osiris Therapeutics (NASDAQ:OSIR) with 81.4% of total investments.
There was no board remuneration paid for the reporting period but rather accrued. The advisory fee for the reporting period was USD 301,301 of which USD 141,608 were paid. Total operational costs for the first half of the fiscal year 2014/15 were USD 213,562.
The semi-annual report, including financial statements for the reporting period can be downloaded from http://www.newventuretec.com/investors/reports.aspx.
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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