Benitec Biopharma Limited: Interim Report for the Half Year Ended December 31, 2015

SYDNEY, Feb. 26, 2016 /PRNewswire/ -- Benitec Biopharma Limited (ASX: BLT; NASDAQ: BNTC; NASDAQ: BNTCW) today lodged its Interim Report for the half year ended December 31, 2015. The report includes Appendix 4D and the financial results and operations report for the period.

Summary of the key points from the Interim Report:

• On February 26, 2016 the Company announced that it will wind-down its hepatitis C program and terminate the program upon completion of patients in Cohort 4 in its Phase I/IIa clinical trial for TT-034. Further detail on the termination of the program is included in 'in house Programs' later in this report.
  
  Benitec is committed to completing the collection of trial data and monitoring patients through the required long-term safety follow-up period. Final data supporting the primary and secondary endpoints of the study will be reported in CYQ4 2016 when the study is completed. Although the hepatitis C program is being discontinued, it is important to note that TT-034 has been shown to be safe and well tolerated, meeting the primary endpoint of the study and, as such, will assist in other programs.
• The other three therapeutic indications (hepatitis B, AMD and OPMD) are being progressed through their respective stages in the development pathway. Benitec anticipates completing in vivo preclinical proof of concept studies for all three indications by the end of 2016. The Company will require additional financing to conduct clinical trials with these product candidates. Further detail of individual programs is provided in the 'In House' program section of the Interim Report.
• The CEO search is progressing and the Board is committed to ensuring the right candidate leads Benitec into the next phase of its development.
• In August 2015, Benitec completed a NASDAQ listing raising A$18.8 million (US$13.8 million) before costs.
• The net loss for the six months was $A 16.1 million and included scientific spending of AU$8.2 million. Benitec's current assets at December 31, 2015 were A$27.8 million.
• Our hepatitis B program is attracting strong interest from pharmaceutical companies. Benitec presented encouraging in vitro data to the market in December 2015.
• In July 2015, Benitec announced it acquired full rights to its preclinical DNA directed RNA interference (ddRNAi) based hepatitis B therapeutic program for $2.5 million. The program was previously a joint development collaboration between Benitec and Biomics.
• Benitec anticipates completing in vivo preclinical proof of concept studies for age-related macular degeneration ('AMD') and oculopharyngeal muscular dystrophy ('OPMD') by the end of CY 2016

Webcast Information and Conference Call:

The Company will host a live audio webcast and conference call on Tuesday, 1 March at 8:30am AEDT (Australian Eastern) and simultaneously at Monday, 29 February at 4.30pm EST (US Eastern Standard Time), to provide an operational and financial update.

To access the live webcast please enter at http://services.choruscall.com/links/bntc160229 into your internet browser. Investors will be able to submit questions in writing via the webcast, to be addressed by Benitec's management during the call.

To access the conference call please use the dial in details below.

Conference ID: 418337

US dial in: +1 855 624 0077

Australia dial in: 1800 908 299 or 1800 455 963

All other locations dial: +61 2 9007 8048

Shareholders are encouraged to use the webcast link, as conference call lines are limited.  An archive of the webcast will remain available on Benitec's website for 90 days beginning at approximately 5:30pm EST on 1 March 2016.

For further information regarding Benitec and its activities, please contact the persons below, or visit the Benitec website at www.benitec.com  

About Benitec Biopharma Limited:
Benitec Biopharma Limited (ASX: BLT; NASDAQ: BNTC; NASDAQ: BNTCW) is a clinical-stage biotechnology company developing innovative therapeutics based on its patented gene-silencing technology called ddRNAi or 'expressed RNAi'. Based in Sydney, Australia with labs in Hayward, CA (USA) and collaborators and licensees around the world, the company is developing ddRNAi-based therapeutics for chronic and life-threatening human conditions including hepatitis C and B, wet age-related macular degeneration and OPMD. Benitec has also licensed ddRNAi to other biopharmaceutical companies for applications including HIV/AIDS, Huntington's Disease, chronic neuropathic pain and retinitis pigmentosa.

Safe Harbor Statement: 
This press release contains "forward-looking statements" within the meaning of section 27A of the US Securities Act of 1933 and section 21E of the US Securities Exchange Act of 1934. Benitec has tried to identify such forward-looking statements by use of such words as "expects," "intends," "hopes," "anticipates," "believes," "could," "may," "evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to, any statements relating to Benitec's pipeline of ddRNAi-based therapeutics, including the initiation, progress and outcomes of clinical trials and any other statements that are not historical facts. Such forward-looking statements involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to the difficulties or delays in our plans to develop and potentially commercialize our product candidates, the timing of the initiation and completion of preclinical and clinical trials, the timing of patient enrolment and dosing in clinical trials, the timing of expected regulatory filings, the clinical utility and potential attributes and benefits of ddRNAi and our product candidates, potential future out-licenses and collaborations, our intellectual property position and duration of our patent portfolio, the ability to procure additional sources of financing and other risks detailed from time to time in filings that Benitec makes with US Securities and Exchange Commission, including our most recent annual report on Form 20-F and our reports on Form 6-K. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.

PDF - http://origin-qps.onstreammedia.com/origin/multivu_archive/PRNA/ENR/16 02 26 APPENDIX 4D FS-160226-HS-Benitec Half Yearly Report Static Update SIGNE.pdf

SOURCE Benitec Biopharma Limited

Related Links

http://www.benitec.com