EQS-News: Epigenomics AG / Key phrase(s): 9 Month figures/Quarter Results
​​​​​​​Epigenomics AG experiences monetary outcomes for the primary 9 months 2022
09.11.2022 / 08:00 CET/CEST
The issuer is solely answerable for the content material of this announcement.

Epigenomics AG experiences monetary outcomes for the primary 9 months 2022  

Berlin (Germany) and San Diego, CA (U.S.A.), November 9, 2022 – Epigenomics AG (FSE: ECX, OTCQX: EPGNY, the “Company”) immediately reported monetary outcomes (IFRS, unaudited) for the primary 9 months of 2022.

Key figures

Total income decreased to EUR 386 thousand in 9M 2022, in comparison with EUR 6,022 thousand in 9M 2021 due the sale of samples from the Company’s pattern financial institution (the “Biobank”) within the quantity of EUR 5,675 thousand in 2021. On a comparable foundation with out the Biobank sale whole income elevated from EUR 347 thousand to EUR 386 hundreds.

Research and improvement prices rose from EUR 2,226 thousand within the earlier yr to EUR 4,970 thousand within the first 9 months of 2022, due to prices associated to the “Next-Gen” medical trial together with further personnel within the U.S. In addition, affected person enrollment within the research elevated once more after virtually all medical trials got here to a standstill within the earlier yr on account of Covid-19.

Sales, basic and administrative bills decreased from EUR 5,809 thousand within the earlier yr to EUR 5,315 thousand within the first 9 months of 2022.

Other earnings of EUR 5,451 thousand in 9M 2022 (9M 2021: EUR 2,229 thousand) was primarily on account of international foreign money translation beneficial properties and is expounded to the appreciation of the U.S. greenback towards the euro.

EBITDA (earlier than share-based fee bills) was EUR -4,918 thousand within the reporting interval in comparison with EUR -209 thousand in the identical interval of the earlier yr. As with revenues, the numerous distinction is attributable to the sale of the Biobank samples within the earlier yr.

Accordingly, the web loss for the interval additionally elevated to EUR -5,518 thousand (9M 2021: EUR -691 thousand); the loss per share elevated from EUR 0.07 to EUR 0.34 in comparison with the prior-year interval.

Cash consumption elevated to EUR 8,918 thousand within the first 9 months of 2022, in contrast with EUR 3,598 thousand in the identical interval of the earlier yr.

As of September 30, 2022, the Company had money and money equivalents of EUR 15,773 thousand (December 31, 2021: EUR 23,049 thousand).

Operational developments

The Executive Board of Epigenomics AG stays assured that Epi proColon “Next-Gen” will meet the reimbursement necessities (sensitivity of 74% and specificity of 90%) of the Centers for Medicare and Medicaid Services (CMS), which is why a pre-application for a medical research was submitted to the FDA in spring. Following intensive research preparations, the primary sufferers have been enrolled at chosen research websites in September. The Board expects to have the ability to publish official preliminary trial knowledge shortly.

In order to realize the purpose of FDA approval and reimbursement of the “Next-Gen” take a look at, the Company wants to boost further capital to finish the trial and all supporting actions. The Company is subsequently actively exploring all choices to boost essential capital to realize its targets, together with a doable itemizing on another trade.

Furthermore, the Extraordinary General Shareholders’ Meeting of Epigenomics AG occurred on October 21, 2022, as a digital occasion with out bodily presence of the shareholders in Munich. In addition to the discover of loss pursuant to Section 92 (1) of the German Stock Corporation Act (AktG), the discount of the share capital to 1 quarter of the share capital present on the time of the AGM was resolved. Thus, after the implementation – which is predicted for the start of December – the Company is in precept capable of carry out capital will increase once more.

Greg Hamilton, CEO of Epigenomics AG, commented: “We are extraordinarily excited in regards to the progress we’ve got made on our “Next-Gen” blood-based CRC take a look at and the corresponding medical trial and we count on to offer a proper preliminary knowledge set of “Next-Gen“ shortly. We initiated the medical trial with the enrollment of the primary sufferers in September. Furthermore, we’ve got met with the FDA by way of a pre-submission assembly and really feel we’ve got a transparent path ahead to success.”

Outlook 2022


EBITDA / money consumption

For EBITDA (earlier than share-based fee bills), Epigenomics forecasts a spread of EUR -10.5 million to EUR -11.5 million for the present full yr 2022 (beforehand: EUR -15.0 million to EUR -17.0 million). Based on the Company’s 2022 marketing strategy, money consumption is predicted to be between EUR 14.5 million and EUR 15.5 million (beforehand: EUR 15.0 million to EUR 17.0 million).

Further data

The monetary report for the primary 9 months of 2022 will be discovered on Epigenomics’ web site at: https://www.epigenomics.com/news-investors/financial-reports/.

Conference name for analysts and buyers

Epigenomics AG will host a convention name for analysts and buyers immediately at 4.00 pm (CET) / 10.00 am (EDT). The webcast will be accessed on the following hyperlink: https://webcast.meetyoo.de/index.html?e=nArcVIF41NO6

Please use the next dial-in particulars for the convention name:

Dial-in quantity Germany: +49 30 2325 31508
Dial-in quantity UK: +44 20 3872 0883
Dial-in quantity USA: +1 516-269-8981

Participants are requested to dial in quarter-hour previous to the beginning of the convention name and to register utilizing the hyperlink above.

An audio replay of the convention name will probably be supplied on the Company’s web site following the decision.


About Epigenomics

Epigenomics AG is a molecular diagnostics firm centered on blood testing for the early detection of most cancers. Based on its proprietary biomarker expertise for the detection of methylated DNA, Epigenomics develops and markets blood exams for varied most cancers indications with excessive unmet medical want. Epigenomics’ lead product is the blood take a look at Epi proColon® for the early detection of colorectal most cancers. Epi proColon is authorised by the U.S. Food and Drug Administration (FDA) and is marketed within the United States and Europe in addition to different chosen international locations. HCCBloodTest, a blood take a look at for the detection of liver most cancers, have obtained the CE Mark for advertising and marketing in Europe.

For additional data please go to www.epigenomics.com.


Epigenomics AG, Geneststrasse 5, 10829 Berlin
Tel +49 (0) 30 24345 0, Fax +49 (0) 30 24345 555, Email: contact@epigenomics.com

Investor Relations
IR.on AG, Frederic Hilke, Tel +49 221 9140 970, Email: ir@epigenomics.com


Note on forward-looking statements

This publication expressly or implicitly accommodates forward-looking statements regarding Epigenomics AG and its enterprise. These statements contain sure identified and unknown dangers, uncertainties and different components that will trigger Epigenomics AG’s precise outcomes, monetary situation and efficiency to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such statements. Epigenomics makes this announcement as of the date of this launch and doesn’t intend to replace any forward-looking statements contained herein on account of new data or future occasions or in any other case.

09.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely answerable for the content material of this announcement.

The EQS Distribution Services embrace Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Source link

#Epigenomics #experiences #monetary #outcomes #months

By Seth A. Dunbar

Seth Dunbar leads clinical research study operations and quality & compliance. He is experienced working with teams to help drug sponsors better leverage eSource data. With 10+ years of experience Seth brings expertise developing eClinical services that integrate data and technology to help companies optimise study execution.

Leave a Reply

Your email address will not be published. Required fields are marked *