New Venturetec revenue expectation for the first half of the fiscal year 2013/2014 ended March 31, 2014

CLICK TO DOWNLOAD
New Venturetec revenue expectation for the first half of the fiscal year 2013/2014 ended March 31, 2014

 

Zug, April 3, 2014. New Venturetec ended its first half of the fiscal year 2013/14 per March 31, 2014. Based on the current valuations of the portfolio companies New Venturetec expects a loss in the range of USD 15 to USD 16 million or USD 3.0 to USD 3.2 per share for the first half of the fiscal year 2013/14. The loss is mainly a result of the reduction of the public traded share price of Osiris Therapeutics (NASDAQ:OSIR) from USD 16.64 to USD 13.13, or 21.1% 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 2013/14 will be published on May 14, 2014.

New Venturetec did not give any guidance on its performance for the first half of the fiscal year 2013/14 and has never done so in the past.

New Venturetec is a publicly traded Swiss investment company (SIX: NEV) which invests directly in venture capital companies in the USA.

For further information:

Yves Huwyler
Hinterbergstrasse 47
6312 Steinhausen
Tel: 041 740 26 26
info@newventuretec.com