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KNIGHT REPORTS SECOND QUARTER 2014 RESULTS

MONTREAL, QUEBEC--(Marketwired - Aug. 14, 2014) - Knight Therapeutics Inc. ("Knight") (TSX:GUD) today reported its financial results for the quarter ended June 30, 2014.

Management’s discussion and analysis of financial condition and results of operations for the second quarter 2014 Download / Print PDF

Knight Therapeutics financial results – Q2 2014 Download / Print PDF

2nd Quarter 2014 Highlights

During the second quarter of 2014:

  • On April 10, 2014, Knight completed a private placement of Additional Special Warrants for aggregate proceeds of $180,075,000. 
  • On April 17, 2014, Knight received receipts for two short form prospectuses. The warrants issued in the private placements of Special Warrants dated March 19 and Additional Special Warrants dated April 10, 2014 were exercised into common shares within five business days of receipt. 
  • On April 29, 2014, Knight began trading on TSX under the ticker symbol GUD and delisted from TSX-V. 
  • On June 25, 2014, Knight issued an $850,000 secured loan bearing 15% interest per annum to Origin Biomed Inc., a company dedicated to the commercialization of the Neuragen® and Bionica Brands. 
  • On June 26, 2014, Knight entered into an agreement with Sectoral Asset Management Inc. ("Sectoral") to invest $13.9 million [US$13 million] in its private fund that invests in public and private healthcare companies. Sectoral will also assist Knight in securing preferred access to Canadian product rights for pharmaceutical products and facilitate introductions for lending opportunities between the investee companies and Knight. 

Subsequent to the quarter ended June 30, 2014

  • On July 3, 2014, Knight issued a secured loan of $6.9 million [US$6.5 million] bearing an interest rate of 12% per annum to support the acquisition, by two newly formed holding companies, of Apicore LLC and Apicore US LLC which became wholly owned operating subsidiaries of the borrowers. 

Second Quarter 2014 Financial Results Reported in Canadian Dollars 

The Company's financial statements for the period ended June 30, 2014 have been prepared in accordance with IAS 34, Interim Financial Reporting.

For the three-month period ended June 30, 2014, the Company reported Revenues of $247,373 and Net Income of $390,617. For the six-month period ended June 30, 2014, the Company reported Revenues of $248,814 and Net Income of $314,875. As at June 30, 2014, the Company had $234,507,236 of cash and 77,764,640 common shares outstanding.

"I am pleased with our progress since inception on February 28, 2014. During these five and a half months, we have raised $255 million, listed on TSX, received FDA approval for Impavido, been awarded a priority review voucher by the FDA and concluded three business development deals. And we did this all with only three full-time permanent staff! We look forward to expanding our team and capacity to invest in low risk, high return life science opportunities." said Jonathan Ross Goodman, President and CEO of Knight Therapeutics Inc. 

Conference Call Notice 

Knight will host a conference call to discuss its second quarter results today at 8:30 am ET. Investors and other interested parties may call 877-223-4471 (Operator Assisted Toll-Free) or 647-788-4922 (local or international).


About Knight Therapeutics Inc. 

Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. For more information about Knight Therapeutics Inc., please visit the Company's website at www.gud-knight.com or at www.sedar.com.

This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the Company's final application for listing on TSX Venture Exchange and in two Short Form Prospectuses which can be found on SEDAR at www.sedar.com, which investors should consult for additional information. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law. 

Neither TSX nor its Regulation Services Providers (as that term is defined in policies of TSX) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION

Jeffrey Kadanoff, P.Eng., MBA
Chief Financial Officer
Knight Therapeutics Inc.
514-484-4831
514-481-4116 (FAX)
This email address is being protected from spambots. You need JavaScript enabled to view it.

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