Genomic Vision: Financial Information for the Third Quarter of 2023
14 Novembro 2023 - 2:00PM
Business Wire
- Sales of products and services up 11% in Q3 2033 to reach €853
thousand
- Revenues of €1.2 million for the first 9 months of the year, up
8%.
- Cash position at September 30, 2023 of €50 thousand
- Available financial resources do not cover current
liabilities
Regulatory News:
Genomic Vision (FR0011799907 – GV, the “Company”), a
Euronext-listed biotechnology company that develops products and
services for the highly accurate characterization of DNA sequences,
today announced its revenue and cash position for the third quarter
ended on September 30, 20231.
Revenues for the first 9 months and 3rd quarter 2023
9 months
Third quarter
(In € thousands – IFRS
standards)
2023
2022
∆
2023
2022
∆%
Total revenue from
sales
853
768
+11%
260
257
n.s.
Other revenue
350
348
n.s.
117
116
n.s.
Total revenue from
activity
1203
1116
+8%
377
373
n.s.
Total revenue from activities reached €1 203 thousand in
the third quarter ending September 30, 2023, reflecting a 11%
increase compared to the same period in the previous year. The
revenue include:
- sales of products and services of €853 thousand, up 11%
compared with 2022. This is explained by good on-going sales
performance particularly in RCA (Replication Combing Assay)
services.
- other revenue of €350 thousand during the third quarter
ended September 30, 2023, related to a Research Tax Credit.
Financial structure at September 30, 2023
As of September 30, 2023, Genomic Vision had cash and cash
equivalents amounting to €50 thousand compared to €0.76 million on
December 31, 2022. The Company’s use of cash is attributable to the
day-to-day activities and the gradual implementation of its
strategic plan.
Given the evolution of its share price and the liquidity of the
shares on the market, Genomic Vision was no longer able to cover
all of its cash needs. To date, the Company reports current
liabilities and does not have sufficient available resources to
meet them. In this context, the Company has requested on November
3, 2023, the opening of receivership proceedings (“procédure de
redressement judiciaire”) with the Commercial Court of
Nanterre.
The Commercial Court of Nanterre will rule on this request for
the opening of receivership proceedings during a hearing to be held
on November 15, 2023. If the Commercial Court grants the Company's
request, the Company will continue its current activities during
the observation period of a duration set by the Court. The Court
may decide to open liquidation proceedings if it considers that the
financing of an observation period is not assured.
The suspension of the listing of Genomic Vision shares,
effective since November 6, is maintained until further notice.
Upcoming financial publications2
- Financial information for the 4th quarter of 2023: February 29,
2024
- Annual results 2023: March 22, 2024
***
ABOUT GENOMIC VISION
GENOMIC VISION is a biotechnology company that develops products
and services for the highly accurate characterization of genome
modifications. We deliver high-quality integrated genomic analysis
solutions to improve quality control and bioproduction standards of
advanced gene therapies at scale. Based on molecular combing
technology and artificial intelligence, The Company provides robust
quantitative measurements needed for high confidence
characterization of transformed cell lines and prediction of cell
line performance, in particular in the context of the
biomanufacturing processes of cell and gene therapies. Genomic
Vision’s molecular combing technology has further applications in
drug development of agents targeting DNA replication and damage
response mechanisms, visualizing DNA replication kinetics and
telomere length maintenance. Genomic Vision, based near Paris in
Bagneux, is a public company listed in compartment C of Euronext’s
regulated market in Paris (Euronext: GV – ISIN: FR0011799907).
For further information, please visit www.genomicvision.com
Member of the CAC® Mid & Small and CAC® All-Tradable
indices
FORWARD LOOKING STATEMENT This press release contains
implicitly or explicitly certain forward-looking statements
concerning Genomic Vision and its business. Such forward-looking
statements are based on assumptions that Genomic Vision considers
to be reasonable. However, there can be no assurance that such
forward-looking statements will be verified, which statements are
subject to numerous risks, including the risks set forth in the
“Risk Factors” section of the universal registration document filed
with the AMF on April 28, 2023 under number D.23-0383, available on
the web site of Genomic Vision (www.genomicvision.com) and to the
development of economic conditions, financial markets and the
markets in which Genomic Vision operates. The forward-looking
statements contained in this press release are also subject to
risks not yet known to Genomic Vision or not currently considered
material by Genomic Vision. The occurrence of all or part of such
risks could cause actual results, financial conditions, performance
or achievements of Genomic Vision to be materially different from
such forward-looking statements.
This press release and the information contained herein do not
constitute and should not be construed as an offer or an invitation
to sell or subscribe, or the solicitation of any order or
invitation to purchase or subscribe for Genomic Vision shares in
any country. The distribution of this press release in certain
countries may be a breach of applicable laws. The persons in
possession of this press release must inquire about any local
restrictions and comply with these restrictions.
Genomic Vision has set up a financing line in the form of
convertible notes with warrants (OCABSA) with its Financing
partner. The shares resulting from the conversion or exercise of
the aforementioned securities will, in general, be sold on the
market, which could create downward pressure on the share price as
well as a dilution. Shareholders could therefore suffer a loss of
their invested capital due to a significant decrease in the value
of the company's shares. The company has carried out several
dilutive financing operations, and investors are advised to be very
careful before making a decision to invest in the company's
securities.
1 Unaudited figures 2 Indicative dates, subject to change.
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version on businesswire.com: https://www.businesswire.com/news/home/20231114282835/en/
Genomic Vision Aaron Bensimon Chairman of the Management
Board Tel.: +33 1 49 08 07 51 investisseurs@genomicvision.com
NewCap France Investor Relations & Strategic
Communications Tel.: +33 1 44 71 94 94 gv@newcap.eu
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