COMPANY ANNOUNCEMENT - No. 5-2024-02 May 2024– Inside information
BIRKERØD,
In Q1, 2024, ViroGates’ revenue was TDKK 1,199, representing an increase of 14% compared to the same period in the previous year (TDKK 1,049). Despite the slight increase in revenue compared to last year, sales remain at a low level due to less activity among hospital customers.
Financial results in Q1, 2024
The financial results in Q1, 2024 are reported below (Q1, 2023 results in brackets):
- Revenue increased by 14% to TDKK 1,199 (TDKK 1,049)
- Operating expenses increased by 18% to TDKK -4,916 (TDKK -4,165)
- Operating loss increased by 13% to TDKK -3,710 (TDKK -3,279)
- Net loss increased by 22% to TDKK -3,596 (TDKK -2,942)
- Cash and cash equivalents at the end of the period amounted to TDKK 12,229 (TDKK 6,462)
Business highlights in Q1, 2024
The business highlights of Q1, 2024 included:
- Promotion of the sepsis application case to existing and new hospital customers and booking the first revenue based on the implementation of suPARnostic® in sepsis treatment
- Collaborating closely with Sobi on the steps to commercializing suPARnostic® in the US in response to the EUA post-authorization requirement by the FDA from 2022 for Sobi’s Kineret® product
- Reaching 1,000 papers on suPAR on PubMed, manifesting the importance of suPAR and chronic inflammation in disease development, progression, and risk of premature mortality
This announcement is a summary and should be read in connection with ViroGates’ Interim Report for Q1, 2024, 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. Headquartered in
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 1000 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 up to 34% and reducing the average hospital length-of-stay by up to 6% without affecting mortality. suPARnostic® TurbiLatex is currently available on Roche Diagnostics’ cobas® instruments, Siemens Healthineers ADVIA® XPT and Atellica® instruments, the Abbott Labs Architect™ and Alinity™ instruments and the Beckmann Coulter AU 5800 instrument.
Disclosure regulation
Prospects about the future reflect
Contacts
Jakob Knudsen , CEO, +45 2226 1355, jk@virogates.com
Attachments
- 20240502-Company Announcement 5 - Q1 2024_vF.pdf
- 20240502-
ViroGates -Interim Report Q1 2024_vF.pdf
© Ritzau Denmark, source