- H1 2020 revenue up 16.5 % for Theranostics
- Theranostics performed well in all regions
- Cash position at June 30, 2020 in line with the budget: €1.7
million
Regulatory News:
THERADIAG (Paris:ALTER) (ISIN: FR0004197747, Ticker:
ALTER), a company specializing in in vitro diagnostics and
Theranostics, today announces its consolidated half-year revenue
and cash position at June 30, 2020, data that is currently being
audited.
Consolidated H1 2020 revenue of €4.9 million
In thousands of euros
June 30, 2020
June 30, 2019
Change
Revenue*
4,871
4,976
-2.1%
of which Theranostics
2,410
2,070
+16.5%
of which LISA TRACKER® kits in
routine use
2,410
2,041
+18.1%
of which IVD
2,367
2,906
-18.6%
*Data currently being audited
Over the six months to June 30, 2020, Theradiag generated
revenue of €4.9 million, versus €5.0 million in the first half of
2019 highlighting the robustness and quality of the products
marketed despite a delicate economic and health situation.
The Theranostics business posted another half of solid growth,
with revenue up +16.5%, primarily driven by sales of LISA TRACKER®
kits in routine use whose sales exceeded €2.4 million in the first
half of 2020 (vs. €2.0 million at June 30, 2019). As has been the
case for a number of semesters now, the Theranostics represents the
Company’s recurring business, thus providing it with enhanced
visibility.
The highly degraded context since mid-March 2020, notably with
the implementation of the plan blanc emergency plan in French
hospitals, disrupted activity in all regions. Nevertheless,
Theradiag posted a decent performance in France with particularly
satisfactory Theranostics sales of €1.0 million, up 13% compared
with the first half of 2019. Activity in the United States
generated revenue of €0.4 million, up 42%. In its export business,
the Company maintained a highly acceptable level of activity
(+10%).
The IVD (In Vitro Diagnostics) activity recorded an 18.6% fall
in revenue to €2.4 million at June 30, 2020, compared with €2.9
million in the first half of 2019. This decrease was a result of
the impact of the exceptional sales to former partner HOB Biotech
recorded in the first half of 2019. Excluding this negative base
effect, Theradiag has maintained a level of activity that is in
line with its strategy despite the global economic situation.
Cash position
At June 30, 2020, Theradiag had net available cash of €1.7
million, versus €2.9 million at December 31, 2019. This cash
position is in line with the Company’s roadmap despite weak
second-quarter activity and late payments. Moreover, Theradiag has
prepared the necessary paperwork to apply for a State-guaranteed
loan.
Bertrand de Castelnau, Theradiag’s CEO, commented: “I’m
particularly pleased with the work undertaken by Theradiag’s teams
and their unwavering commitment during this turbulent semester.
This commitment has enabled us to generate remarkable results in
our Theranostics business, which is our strategic priority and is
generating increasingly patent recurring performances each
semester. As well as these successes in our flagship activity, we
have been able to activate the necessary levers to address the
diagnostics market within the framework of the battle against the
Covid-19 pandemic. Our actions have led to the certification of
four CE-marked tests, two of them manufactured by Theradiag.
Despite this success, which allows these tests to be marketed in
France and abroad, it is important to remain cautious regarding the
economic impact of this milestone on our 2020 financial year. We
are very closely monitoring the ongoing public health crisis we are
facing, we will intensify our efforts to protect our employees and
partners, and we will continue to focus on developing our sales,
our partnerships and our R&D investments in order to maintain a
positive momentum throughout 2020”.
Pierre Morgon, Chairman of Theradiag’s Board of
Directors, added: “The Theradiag team is continuing to deploy
its strategy centering on Theranostics and has already generated a
remarkable performance over the last semester despite the
tumultuous economic situation. Beyond the half-year growth of our
Theranostics activity, the teams have been able to capitalize on
the Company’s DNA, innovation, to bolster its technological lead to
help patients. Theradiag is still on a positive trajectory and is
on course to balance its books”.
Update regarding the impact of the Covid-19 pandemic on
Theradiag’s annual activity
Theradiag is continuing to assess the potential consequences of
the Covid-19 pandemic on its business and is continuing to put
required measures in place for its employees, clients and partners.
As of the date of this press release, Theradiag is expecting 2020
revenue to probably be negatively impacted by around 10%, not
including the potential effects of new business associated with the
Covid-19 tests whose deployment has begun.
Reminder of the main H1 2020 highlights
- February 2020: Theradiag presents excellent results generated
by its new i-Tracker® kits in its TRACKER® range at the ECCO
Congress. - February 2020: THERADIAG helps establish a new WHO
international standard for biotherapy monitoring. - March 2020:
THERADIAG announces the CE Marking of the first four i-Tracker®
test kits in its TRACKER® range. - April 2020: Theradiag commits to
fighting Covid-19 and assesses the likely impact on FYR 2020. - May
2020: Theradiag announces the approval of a first Covid-19 test,
‘RT-PCR’. - June 2020: Theradiag issues an update on its Covid-19
test activity, and the first Theradiag-labeled tests receive the CE
mark. - July 2020: The University of Tours and Theradiag sign two
agreements simultaneously: an exclusive licensing agreement for the
production of Covid-19 viral proteins and a global collaboration
agreement that could lead to further partnerships in the
future.
Next financial press release:
- H1 2020 results, on Monday September 21, 2020
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
2019, the Company posted revenue of €9.6 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:
www.theradiag.com
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version on businesswire.com: https://www.businesswire.com/news/home/20200721005595/en/
Theradiag Bertrand de Castelnau CEO/Managing
Director Tél. : +33 (0)1 64 62 10 12 contact@theradiag.com
NewCap Relations Investisseurs Sandrine
Boussard-Gallien Tél. : +33 (0)1 44 71 94 94
theradiag@newcap.eu
NewCap Relations médias Nicolas Mérigeau Tél. :
+33 (0)1 44 71 94 98 nmerigeau@newcap.fr
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