Genomic Vision: Financial Information for the First Quarter of 2020
29 Maio 2020 - 1:00PM
Business Wire
- Revenue from sales up +11.5%
- Reduced and well-controlled cash burn
Regulatory News:
Genomic Vision (Paris:GV) (FR0011799907 – GV), a
biotechnology company that develops tools and services dedicated to
the analysis and control of changes in the genome, today announced
its revenue and cash position at March 31, 2020.
Q1 2020 revenue
In € thousands
Q1 2020
Q1 2019
Sales of products
334
296
Sales of services
218
199
Total revenue from sales
552
495
Other revenue
121
218
Total revenue from activity
673
713
Revenue from sales totaled €552 thousand in the first
quarter of 2020, up 11.5% compared to the first quarter of 2019.
Sales of products notably include the sale of a platform to the
Leibnitz Institute on Aging - Fritz Lipmann Institute (FLI) in
Germany.
Total revenue from activity, once other revenue is taken
into account, was down 5.9% in the first quarter of 2020 compared
to the same quarter of 2019. Other revenue, which totaled €121
thousand, mainly corresponds to Research Tax Credit, which was
lower than last year as a result of the restructuring plan that led
to a reduction in the R&D headcount. Moreover, contrary to
2019, no subsidies were booked in the first quarter of 2020.
Financial structure at March 31, 2020
Genomic Vision had cash and cash equivalents of €1.2 million at
March 31, 2020, versus €1.1 million at December 31, 2019. This
improvement takes into account the drawdown of the third tranche of
€1 million within the framework of the ABSA (shares with equity
warrants attached) equity financing program set up with Winance in
March 2019. Cash burn, excluding capital increase, was €0.9 million
in the first quarter of 2020, reflecting good control over the
Company’s spending and working capital requirements.
As announced in its press release of May 18, 2020, the Company
completed the drawdown of the fourth and final tranche of the
equity financing line and its partner, Winance, also exercised the
warrants associated with the third tranche. The Company has thus
strengthened its cash position and shareholders' equity by €1.9
million, and now has the necessary resources to develop its
activities over the remainder of the year.
Impact of the Covid-19 crisis
The global economic slowdown associated with the lockdown has
also affected Genomic Vision’s main clients and prospects. It will
probably have a significant impact on revenue over the coming
quarters, although this should not jeopardize the financial
prospects mentioned above, given the good control of cash burn.
Upcoming financial publications
- Shareholders’ Meeting: Friday, July 24, 2020
- H1 2020 results: Tuesday, September 29, 2020
- Q3 2020 revenue: Thursday, October 29, 2020
***
ABOUT GENOMIC VISION
GENOMIC VISION is a biotechnology company developing products
and services dedicated to the analysis (structural and functional)
of genome modifications as well as to the quality and safety
control of these modifications, in particular in genome editing
technologies and biomanufacturing processes. Genomic Vision
proprietary tools, based on DNA combing technology and artificial
intelligence, provide robust quantitative measurements needed to
high confidence characterization of DNA alteration in the genome.
These tools are mainly used for monitoring DNA replication in
cancerous cell, for early cancer detection and the diagnosis of
genetic diseases. Based near Paris, in Bagneux, the Company has
approximately 30 employees. GENOMIC VISION is a public listed
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 indexes
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 reference
document dated March 29, 2019 filed with the AMF under reference
number R19-004, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200529005524/en/
Genomic Vision Dominique Rémy-Renou CEO Tel.: +33 1 49 08
07 51 investisseurs@genomicvision.com
Ulysse Communication Press Relations
Bruno Arabian Tel.: +33 1 42 68 29 70
barabian@ulysse-communication.com
NewCap Investor Relations & Strategic
Communications Tel.: +33 1 44 71 94 94 gv@newcap.eu
Genomic Vision (EU:GV)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Genomic Vision (EU:GV)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024