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Trimeris Announces Strategic Shift
MORRISVILLE, N.C.--(BUSINESS WIRE)--Nov 14, 2006 - Trimeris, Inc.
(NASDAQ:
TRMS) today announced that it will shift its strategic emphasis and
reorganize to focus tightly on FUZEON profitability and its strength in
research and early stage development. These changes are designed to
significantly increase and sustain earnings from FUZEON by sharply
reducing
expenses. Trimeris and Roche will continue their collaboration to
develop
FUZEON enhancements and Next Generation Fusion Inhibitors (NGFI).
Speaking for the Trimeris Board of Directors, its Chairman, Jeffrey
Lipton
said, "With this change in direction of the Company, Steven Skolsky
will be
leaving to pursue other opportunities after making valuable
contributions to
the Company. We thank him for his very strong efforts and wish him
well."
"Dani Bolognesi will return to the position of Chief Executive Officer
and
will remain Chief Scientific Officer. He and Bob Bonczek as Chief
Financial
Officer will lead the Company in its efforts to maximize shareholder
value."
Dani Bolognesi said, "The changes in our company are designed to allow
us to
generate 2007 earnings well in excess of $1.00 per share and to have
sustainable earnings and cash flow for the long-term. At annual
earnings of
$1.00 per share, we would generate approximately $20 million of
additional
cash flow and reach a year end 2007 cash position of about $65
million."
"We will reduce programs and our workforce as a result of these
changes. We
expect to have the new business structure and supporting plans in place
by
year-end and look forward to creating significant shareholder value
with
these actions. We will remain a vibrant, science-oriented company."
Conference Call
Trimeris will host a live conference call to discuss these changes at
5:00
p.m. Eastern Time, today. To access the live call, please dial (800) 399-8403 (U.S.) or (706) 634-6565 (international). The conference ID
number
is 2325950. Telephone replay is available approximately two hours after
the
call through 11:59 p.m. Eastern Time, November 28, 2006. To access the
replay, please call (800) 642-1687 (U.S.) or (706) 645-9291
(international)
using the same conference ID number (2325950). The information provided
on
the teleconference is only accurate at the time of the conference call,
and
Trimeris will take no responsibility for providing updated information.
Live audio of the conference call will be simultaneously broadcast over
the
Internet and will be available to members of the news media, investors
and
the general public. The webcast can be accessed by going to Trimeris'
website, www.trimeris.com.
About Trimeris, Inc.
Trimeris, Inc. (NASDAQ: TRMS) is a biopharmaceutical company engaged in
the
discovery, development and commercialization of novel therapeutic
agents for
the treatment of viral disease. The core technology platform of fusion
inhibition is based on blocking viral entry into host cells. FUZEON,
approved in the U.S., Canada and European Union, is the first in a new
class
of anti-HIV drugs called fusion inhibitors. Trimeris is developing
FUZEON
and future generations of peptide fusion inhibitors in collaboration
with F.
Hoffmann-La Roche Ltd. For more information about Trimeris, please
visit the
Company's website at http://www.trimeris.com.
Trimeris Safe Harbor Statement
This document and any attachments may contain forward-looking
information
about the Company's financial results and business prospects that
involve
substantial risks and uncertainties. These statements can be identified
by
the fact that they use words such as "expect," "project," "intend,"
"plan,"
"believe" and other words and terms of similar meaning. Among the
factors
that could cause actual results to differ materially are the following:
there is uncertainty regarding the success of research and development
activities, regulatory authorizations and product commercializations;
we are
dependent on third parties for the sale, marketing and distribution of
our
drug candidates; the results of our previous clinical trials are not
necessarily indicative of future clinical trials; and our drug
candidates
are based upon novel technology, are difficult and expensive to
manufacture
and may cause unexpected side effects. For a detailed description of
these
factors, see Trimeris' Form 10-K filed with the Securities and Exchange
Commission on March 10, 2006 and its periodic reports filed with the
SEC.
Contact
Trimeris, Inc.
Andrew Graham, Director of Finance, 919-419-6050
MORRISVILLE, N.C.--(BUSINESS WIRE)--Nov 14, 2006 - Trimeris, Inc.
(NASDAQ:
TRMS) today announced that it will shift its strategic emphasis and
reorganize to focus tightly on FUZEON profitability and its strength in
research and early stage development. These changes are designed to
significantly increase and sustain earnings from FUZEON by sharply
reducing
expenses. Trimeris and Roche will continue their collaboration to
develop
FUZEON enhancements and Next Generation Fusion Inhibitors (NGFI).
Speaking for the Trimeris Board of Directors, its Chairman, Jeffrey
Lipton
said, "With this change in direction of the Company, Steven Skolsky
will be
leaving to pursue other opportunities after making valuable
contributions to
the Company. We thank him for his very strong efforts and wish him
well."
"Dani Bolognesi will return to the position of Chief Executive Officer
and
will remain Chief Scientific Officer. He and Bob Bonczek as Chief
Financial
Officer will lead the Company in its efforts to maximize shareholder
value."
Dani Bolognesi said, "The changes in our company are designed to allow
us to
generate 2007 earnings well in excess of $1.00 per share and to have
sustainable earnings and cash flow for the long-term. At annual
earnings of
$1.00 per share, we would generate approximately $20 million of
additional
cash flow and reach a year end 2007 cash position of about $65
million."
"We will reduce programs and our workforce as a result of these
changes. We
expect to have the new business structure and supporting plans in place
by
year-end and look forward to creating significant shareholder value
with
these actions. We will remain a vibrant, science-oriented company."
Conference Call
Trimeris will host a live conference call to discuss these changes at
5:00
p.m. Eastern Time, today. To access the live call, please dial (800) 399-8403 (U.S.) or (706) 634-6565 (international). The conference ID
number
is 2325950. Telephone replay is available approximately two hours after
the
call through 11:59 p.m. Eastern Time, November 28, 2006. To access the
replay, please call (800) 642-1687 (U.S.) or (706) 645-9291
(international)
using the same conference ID number (2325950). The information provided
on
the teleconference is only accurate at the time of the conference call,
and
Trimeris will take no responsibility for providing updated information.
Live audio of the conference call will be simultaneously broadcast over
the
Internet and will be available to members of the news media, investors
and
the general public. The webcast can be accessed by going to Trimeris'
website, www.trimeris.com.
About Trimeris, Inc.
Trimeris, Inc. (NASDAQ: TRMS) is a biopharmaceutical company engaged in
the
discovery, development and commercialization of novel therapeutic
agents for
the treatment of viral disease. The core technology platform of fusion
inhibition is based on blocking viral entry into host cells. FUZEON,
approved in the U.S., Canada and European Union, is the first in a new
class
of anti-HIV drugs called fusion inhibitors. Trimeris is developing
FUZEON
and future generations of peptide fusion inhibitors in collaboration
with F.
Hoffmann-La Roche Ltd. For more information about Trimeris, please
visit the
Company's website at http://www.trimeris.com.
Trimeris Safe Harbor Statement
This document and any attachments may contain forward-looking
information
about the Company's financial results and business prospects that
involve
substantial risks and uncertainties. These statements can be identified
by
the fact that they use words such as "expect," "project," "intend,"
"plan,"
"believe" and other words and terms of similar meaning. Among the
factors
that could cause actual results to differ materially are the following:
there is uncertainty regarding the success of research and development
activities, regulatory authorizations and product commercializations;
we are
dependent on third parties for the sale, marketing and distribution of
our
drug candidates; the results of our previous clinical trials are not
necessarily indicative of future clinical trials; and our drug
candidates
are based upon novel technology, are difficult and expensive to
manufacture
and may cause unexpected side effects. For a detailed description of
these
factors, see Trimeris' Form 10-K filed with the Securities and Exchange
Commission on March 10, 2006 and its periodic reports filed with the
SEC.
Contact
Trimeris, Inc.
Andrew Graham, Director of Finance, 919-419-6050
Regards,
Nelson Vergel
powerusa dot org
"What we think, or what we know, or what we believe is, in the end, of little consequence. The only consequence is what we do." - John Ruskin
Nelson Vergel
powerusa dot org
"What we think, or what we know, or what we believe is, in the end, of little consequence. The only consequence is what we do." - John Ruskin
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