Moss, 5 May 2023
Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic
tests, today announced its results for the first quarter of 2023.
Highlights
Record sales of MNOK 31.4, up 53% from 1Q22, with organic growth of 40%. All
products and geographic areas demonstrated positive sales development in 1Q23
compared to 1Q22.
Demand for Cystatin C in China has stabilised after the end of the
corona-related lock-down.
New diagnostic guidelines in the US and co-marketing efforts with commercial
partner Beckman Coulter resulted in new customers for Cystatin C in the US and
in Europe.
Further results from scientific studies confirmed the clinical relevance and
benefits of GCAL for the early detection and severity assessment of infections.
EBITDA was MNOK -0.5 in 1Q23 versus MNOK -4.2 in 1Q22. R&D costs were MNOK 6.6
in the quarter.
"The global demand for diagnostics continues to be robust even in uncertain
times, driven by a growing and ageing population. We are continuously innovating
diagnostic efficiency to get faster patient results and increase clinical
efficiency, and the market response is a clear signal that we are adding real
value to our customers. I'm particularly pleased that we deliver growth across
all products, all geographies and all sales channels," says CEO Hilja Ibert of
Gentian Diagnostics.
Gentian converts existing biomarkers to the most efficient automated,
high-throughput analysers, which contributes to saving costs and protecting
life. The company's go-to-market strategy has proven successful with annual
sales growth averaging 28% over the past four years. Gentian's five
revenue-generating products are sold in Europe, the US and Asia. In addition,
the company invests in product development with the current pipeline comprising
NT-proBNP in product development and further two undisclosed projects in the
proof-of-concept phase.
Webcast
Gentian's CEO Hilja Ibert and CFO Njaal Kind will present the results today at
09:00 am CEST, followed by a Q&A session. Join the webcast and submit questions
via the following link:
https://register.gotowebinar.com/register/1605516105712686432
The webcast will be available on the company's IR website after the
presentation.
IR contact:
Njaal Kind, CFO and COO
njaal.kind@gentian.no
+47 919 06 525 (mobile)
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 in the Norwegian Securities Trading Act.
This stock exchange announcement was published by Njaal Kind, CFO at Gentian
Diagnostics ASA, on 5 May 2023 at 07:30 CET.