Theradiag close to breakeven
- Thanks to a sharp improvement in the net result before
non-recuring items: +84.3%
- While maintaining its R&D and US investment strategy to
fuel future growth
Theradiag will hold a videoconference at
5.45 pm (CEST) today.
To take part, please register via the
following link: https://us02web.zoom.us/webinar/register/WN_X36ssiYPT6y3Ymc5eFQ_qw
Regulatory News:
THERADIAG (Paris:ALTER) (ISIN: FR0004197747, Ticker:
ALTER), a company specializing in in vitro diagnostics and
Theranostics, today announces its half-year results to June 30,
2021, as approved by the Board of Directors on September 16,
2021.
H1 2021 results
In thousands of euros
H1 2021
H1 2020
% change
Revenue
5,482
4,871
+12.5 %
of which: Theranostics
2,766
2,410
+14.7 %
of which: IVD
2,716
2,461
+10.4 %
Operating income/(loss)
(178)
(423)
+57.9 %
Income/(loss) before tax and non-recurring
items
(206)
(358)
+42.4 %
Net income/(loss) before non-recurring
items
(23)
(146)
+84.3 %
Non-recurring items
(68)
(83)
+18.0%
Net income/(loss)
(92)
(229)
+59.8%
Bertrand de Castelnau, CEO of Theradiag, commented: “Over
the last year we have been reaping the fruit of the efforts
undertaken on controlling our operating costs and on our marketing
strategy. Indeed, the effectiveness of our strategic refocus is
demonstrated by the considerable improvement in all our financial
indicators in the first half despite an economic and public health
context that remains uncertain. On the basis of buoyant activity
for our innovative solutions and a healthier cost structure, we are
intending to accelerate Theradiag’s development by implementing a
strategic plan that is in keeping with our growth ambitions on our
target markets. Biotherapy monitoring is a vast global market, and
the coming semesters look promising for Theradiag”.
“The solid improvement in these results demonstrate the success
of the Company’s structuring phase initiated some semesters ago.
They also materialize the work of Theradiag’s teams, who I would
like to congratulate. We now have to accelerate our growth on our
markets of choice, and in particular on the Theranostics market”,
added Chairman of the Board Pierre Morgon.
Revenue up 12.5% despite an uncertain public health
situation
Over the six months to June 30, 2021, Theradiag generated
revenue of €5.5 million, compared with €4.9 million in the first
half of 2020, despite an economic and public health context
characterized by persistent difficulties accessing hospital
treatment for patients undergoing immunotherapy in all
countries.
Theranostics activity continued its growth, increasing by
+14.7% in H1, notably driven by dynamic sales of the automated
i-Track10. Marked by strong growth for a number of semesters now,
for the first time Theranostics activity accounted for the majority
of Theradiag’s revenue over the first 6 months of 2021.
Theranostics activity undertaken in the United States in
partnership with HalioDX generated revenue of €0.5 million, in line
with the Company’s development plan, and was thus up by 33.6%. In
its export business, the Company has maintained a buoyant level of
activity, with sales increasing by 27.4% to €1.3 million. Penalized
by the maintaining of plans blancs emergency plans in hospitals,
activity in France slowed slightly, slipping 5.2% compared with the
first half of 2020.
IVD (In Vitro Diagnostics) activity generated growth of
+10.4%, with revenue totaling €2.7 million over the six months to
June 30, 2021.
Substantial improvement in financial indicators thanks to
better control over operating costs and a refocusing of Theradiag’s
strategy on its fundamentals
Following strong growth in the second half of 2020, the
operating loss continued to shrink significantly, by 57.9%, in the
first half of 2021. This improvement illustrates Theradiag’s
ability to develop commercially while continuing to ensure strict
operating cost management. At the same time, as in previous
semesters, Theradiag intensified its investments in R&D and in
its commercial development in the United States in order to
strengthen its leadership position in biotherapy monitoring in
France and abroad. Furthermore, the Company has expanded its
Quality team to be in a position to comply with the requirements of
the new European Union directive with regard to in vitro diagnostic
medical devices (IVDR).
In a similar vein, the net result before recurring items
improved by a buoyant 84.3% compared with the same period of 2020.
It is now close to breakeven, representing -0.4% of revenue.
The overall net loss, including non-recurring items, improved by
59.8% to -€92 thousand at June 30, 2021 versus -€229 thousand at
June 30, 2020.
Cash position and financial structure
At June 30, 2021, Theradiag had €1.4 million in net available
cash, compared with €3.5 million at December 31, 2020. This
difference is the result of cash lags, now resolved, totaling €0.5
million, while investments in R&D and international development
are in line with Theradiag’s strategic plan.
To finance its growth strategy on the biotherapy monitoring
market while maintaining a solid financial structure, Theradiag is
not ruling out the possibility of raising additional funds
depending on market conditions and the progress of its strategic
plan.
Reminder of the main H1 2021 highlights
- January 2021: CE marking for the four new i-Tracker®
test kits: i-Tracker® Vedolizumab, i-Tracker® Anti-Vedolizumab,
i-Tracker® Ustekinumab and i-Tracker® Anti-Ustekinumab, on
originator and biosimilar molecules
- January 2021: Signing of a contract to supply quality
control reagents to Orgentec, a specialist in in vitro diagnostics
notably in the field of autoimmunity, infectious diseases and
molecular biology
- May 2021: Participation in Humabdiag, a large-scale
research project undertaken with the University of Tours targeting
the bioproduction of monoclonal antibodies dedicated in particular
to Theradiag and the entire biotherapy market.
About Theradiag
Theradiag is the market leader in biotherapy monitoring.
Capitalizing on its expertise in the diagnostics market, the
Company has been developing, manufacturing and marketing innovative
in vitro diagnostic (IVD) tests for over 30 years.
Theradiag pioneered “theranostics” testing (combining therapy
with diagnosis), which measures the efficacy of biotherapy in the
treatment of chronic inflammatory diseases. Going beyond mere
diagnosis, Theranostics aims to help clinicians set up “customized
treatment” for each patient. This method favors the
individualization of treatment, evaluation of its efficacy and the
prevention of drug resistance. In response to this challenge,
Theradiag develops and markets the CE-marked TRACKER® range, a
comprehensive solution of inestimable medical value.
The Company is based in Marne-la-Vallée, near Paris, has
operations in over 70 countries and employs over 60 people. In
2020, the Company posted revenue of €10.4 million. The Theradiag
share is listed on Euronext Growth Paris (ISIN: FR0004197747) and
is eligible for the French PEA-PME personal equity plan.
For more information about Theradiag, please visit our website:
https://www.theradiag.com/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210919005003/en/
Theradiag Bertrand de Castelnau CEO/Managing
Director Tel.: +33 (0)1 64 62 10 12
contact@theradiag.com
NewCap Financial Communications & Investor Relations
Pierre Laurent Quentin Massé Tel.: +33 (0)1 44 71 94
94 theradiag@newcap.eu
NewCap Media Relations Nicolas Mérigeau Tel.: +33
(0)1 44 71 94 98 nmerigeau@newcap.fr
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