2015 Outlook

The full year outlook for 2015 is improved. Veloxis now expects a net loss in the range of DKK 155–185 million. This compares with expectations of DKK 195–235 million announced in connection with the annual report for 2014.

The improvement is driven by the granted Orphan Drug status which entitles Veloxis to a waiver of the FDA prescription drug user fees for Envarsus® XR, along with overall cost savings.
Cash and cash equivalents are expected to be in the range of DKK 100–130 million at December 31, 2015. This compares with previous expectations of DKK 55–95 million.

Forward-Looking Statements

This location contains forward-looking statements. All statements other than statements of historical facts included in this location are forward-looking statements that are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such statements. These risks, trends and uncertainties are in some instances beyond our control.

Words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "will" and other similar expressions identify forward-looking statements, although not all forward-looking statements contain these identifying words. In particular, any statements regarding potential future regulatory approvals for ENVARSUS XR® (formerly LCP-Tacro), and commercial forecasts are considered forward-looking statements. These forward-looking statements involve substantial risks and uncertainties and are based on our assessment and interpretation of the currently available data and information, current expectations, assumptions, estimates and projections about our business and the biopharmaceutical and specialty pharmaceutical industries in which we operate.

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements, which speak only as of the date hereof. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. We do not have a policy of updating or revising forward-looking statements and, except as required by law, assume no obligation to update any forward-looking statements.