Veloxis has revised its 2016 outlook to an operating loss and net loss of USD 25.0 – 31.0 Million compared to the previously reported USD 17.6 – 23.4 Million.

The revision to the outlook is the result of increased costs due to the continued restructuring of the company from a development organization with headquarters in Denmark to a commercial organization with all major activities in the US. Further the outlook is impacted by additional costs related to warrant schemes for Management and new employees. The costs related to warrants is a non cash item and does not result in any cash consideration being paid by the company nor does it affect the company’s ability to continue to fund its operations within its loan facility.

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.