"During Q1 2024, GA has continued to onboard new laboratory customers by implementing the GA-map® assay on their instrument. A key objective for GA is technology implementation in laboratories since this generates recurring reagent kit sales and the establishment of key account customer relationships. GA has established a new important customer in the German market and preparations are ongoing to install the GA-map® assay in yet another German laboratory during May. Both customers will strengthen GA's position in this strategically important territory.
This further builds on a growing and international install base of the GA-map® assays at laboratory customers with the prospect to offer new add-on GA biomarker assays as they are launched."
Q1 2024 (
- Operating income amounted to
NOK 4,8 million (6,4) -
Sales amounted to
NOK 3,3 million (4,1) -
Net profit/loss amounted to
NOK -5,8 million (-7,3) -
Total assets amounted to
NOK 44,2 million (55,0) - Equity ratio amounted to 60 % (67 %)
-
Earnings per share amounted to
NOK -0,14 (-0,29)
Highlights during Q1 2024
- Total operating income ended at
NOK 3,3 million in Q1 2024 (NOK 6,4 million). Net loss wasNOK -5,8 million compared toNOK -7,3 million in the corresponding quarter of 2023.
-
Sales revenues reached
NOK 3,3 million (NOK 4,1 million ) in Q1 2024. The GA-map® product sales, which are recurrent revenues from reagent kit sales, increased by 15% fromNOK 2,6 million in Q1 2023 toNOK 3,0 million in Q1 2024. Total sales were impacted by less instrument sales, downNOK 1,3 million compared to Q1 2023. This is according to our distribution model, where our key distributor inEurope sells their own instruments.
-
Q1 2024 was affected by cost savings, where we optimised our organisation. Operating costs were down
NOK -3,4 million from Q1 2023.
-
On
January 10 , GA announced that the subsequent offering to existing shareholders, for which the subscription period ended onDecember 22, 2023 , has been registered with theNorwegian Register ofBusiness Enterprises .
-
On
February 26 , GA announced that the GA-map® Sample Collection Kit had obtained CE-IVDR marking according to In Vitro Diagnostic Regulation (EU) 2017/746. The GA-map® Sample Collection Kit is now commercially available and will be offered as a stand-alone product for researchers and laboratories in need of fecal collection sampling, as well as in a direct-to-consumer setting.
Highlights after the end of the period
- On
May 14 , GA held an Annual General Meeting. Resolutions with summarised decisions are available on the Company's website.
Other events
- On
March 11 andApril 19 , GA's CEORonny Hermansen bought 212.448 GEAN shares, through the fully owned company InVitroDia AS, at an average price of 0,63. Following both transactions,Ronny Hermansen including the controlled company owns 794.700 shares and 516.668 options.
-
On
March 14 Christina Casén, SVP of Clinical & Medical Affairs ofGenetic Analysis AS , bought 16.500 GEAN shares at an average price of0,61 NOK per share. Following the transaction, Christina Casén owns 176.989 shares and 210.000 options.
For further information, please contact:
E-mail: rh@genetic-analysis.com
E-mail: ea@genetic-analysis.com
About Genetic Analysis:
For more general information: www.genetic-analysis.com
Stay updated on GA and sign up for more investor-related information: https://www.genetic-analysis.com/subscriptions/
Interested in reading more about GA's products? Please visit ga-map.com
https://news.cision.com/genetic-analysis-as/r/genetic-analysis-as--publication-of-q1-report-january---march-2024,c3989870
https://mb.cision.com/Main/20846/3989870/2827852.pdf
https://mb.cision.com/Public/20846/3989870/9cc651405bd8aabd.pdf
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