COMPANY ANNOUNCEMENT - No. 10-2021 -
BIRKERØD,
In Q1, 2021, ViroGates’ revenue was TDKK 2,076, increasing by 367% compared to Q1 2020. The increase was driven by new customers and higher sales from clinically relevant products.
The COVID-19 pandemic continued to be a challenge and an opportunity for
Financial results in Q1, 2021
The financial results in Q1, 2021, continued to show an increasing interest in the clinically relevant suPARnostic® products (Q1, 2020 results in brackets):
- Revenue increased by 367% to TDKK 2,076 (TDKK 445)
- Operating expenses decreased by -8% to TDKK -6,164 (TDKK -6,677)
- Operating loss decreased by -28% to TDKK -4,600 (TDKK -6,433)
- Net loss decreased by -31% to TDKK -4,274 (TDKK -6,187)
- Cash and cash equivalents at the end of the period amounted to TDKK 23,562 (TDKK 35,724)
Business highlights in Q1, 2021
The business highlights indicate an increasing footprint in
- Welcomed five new clinical routine customers – four hospitals in
Greece and one hospital inSpain - Announced the initiation of the SAVE-MORE clinical trial with HISS to clinically validate suPARnostic® for guiding early anakinra treatment of COVID-19 patients across 42 hospitals
- Obtained CE-IVD approval for suPARnostic® TurbiLatex on the Abbott Alinity platform
- Published the Annual Report for 2020 showing growing revenue and customer base – a robust platform for the future
- Announced a delay in the development and launch of the suPARnostic® POC+ product
This announcement is a summary and should be read in conjunction with ViroGates’ Interim Report for Q1, 2021, published on
For further information, please contact:
CEO,
Tel. (+45) 2226 1355, email: jk@virogates.com
Certified Advisor:
Västra Hamnen Corporate Finance
Per Lönn
Tel. (+46) 40 200 250, email: per.lonn@vhcorp.se
About
The company was founded in 2000 based on the discovery that suPAR was predictive of the outcome in HIV-infections and subsequently in many other disease areas. Headquartered in
ViroGates’ shares (VIRO) are listed on Nasdaq First North Growth Market Denmark. For more information, please visit www.virogates.com.
About suPAR and suPARnostic®
suPAR is the biomarker detected by ViroGates’ suPARnostic® products and is a protein in plasma, measurable in every human being. suPAR is considered a general risk status biomarker indicating disease presence, disease severity and progression, organ damage and mortality risk across disease areas such as cardiovascular diseases, kidney diseases, type 2 diabetes, cancer, etc. Strong scientific evidence from more than 600 clinical trials and studies show that the higher the level of suPAR, the worse the prognosis for the patient.
The suPARnostic® products can be used to support healthcare professionals in making clinical decisions on hospitalization or discharge of acute care patients. The increasing demands on health systems globally and tightening healthcare budgets necessitate efficiency improvements and innovative solutions in hospitals. The use of suPAR in clinical routine in emergency departments can improve patient care and reduce healthcare costs by increasing the number of discharges by 34% and reducing the average hospital length-of-stay by 6% without affecting mortality. suPARnostic® TurbiLatex is currently available on Roche Diagnostics’ cobas, instruments, Siemens ADVIA XPT instruments and the Abbott Labs Architect and Alinity instruments.
Disclosure regulation
Prospects about the future reflect
Contacts
Jakob Knudsen , CEO, +45 2226 1355, jk@virogates.com
Attachments
- 20210429-
ViroGates -Interim Report Q1 2021_vF.pdf
© Ritzau Denmark, source