News - 18.05.14
New Venturetec results for the first half of the fiscal year 2017/2018 ended March 31, 2018
Zug, May 14, 2018. New Venturetec closed the first six months of the fiscal year 2017/18, ended March 31, 2018, with a profit of USD 14,467,536 compared with a loss of USD 650,515 in the same period 2016/17. The net asset value per share increased from USD 1.10 to USD 4.09 which equals +271.8% during the reporting six month period. The share price increased from CHF 1.99 as of September 30, 2017 to CHF 4.44 as of March 31, 2018.
The profit is mainly a result of the increase of the public traded share price of Osiris Therapeutics (Pink-Sheets:OSIR) from USD 4.60 to USD 8.80 (+91.3%). The share price of Myriad Genetics (NASDAQ:MYGN) decreased from USD 36.18 to USD 29.55 (-18.3%) in the reporting period. More details on the investment companies are described in the semi-annual report.
As of March 31, 2018, New Venturetec had two investments, held by the non-consolidated subsidiary, both valued above investment costs. The total value of investments is USD 41,132,549, which results in an unrealized profit of USD 11,971,225 against the costs of the investments. The larger position is Osiris Therapeutics with 87.8% of total investments.
The total board remuneration accrued for the six months period was CHF 25,000. Total operational costs for the first half of the fiscal year 2017/18 were USD 235,057.
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