Moss, 21 October 2021: Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic tests, today announced its results for the third quarter of 2021.
Highlights
- Total operating revenue of NOK 19.4 million in Q3 2021, up 20% from Q3 2020. EBITDA was NOK -4.2 million compared to NOK -5.5 in the corresponding quarter in 2020.
- Sales revenue of NOK 17.2 million, a 30% growth compared to Q3 2020. Organic growth in Q3 2021 was 37%.
- Reached final stage of negotiations of a commercial collaboration contract with a leading global diagnostics provider for GCAL®; ambition to start commercial roll-out in H1 2022.
- Achieved development of an independent reference method for NT-proBNP with preliminary results confirming viability of calibration to existing measurement ranges, which, if proven, will positively impact commercial rollout. Timeline towards launch is under review.
- Development of the SARS COV-2 assay is on track for launch towards the end of Q4 2021 and the company is encouraged by the increased governmental interest for such a high throughput test.
”Gentian’s strong organic sales growth during the third quarter was the result of broad-based progress with commercial partners across our product portfolio, and in particular Cystatin C. We experience increased demand for Cystatin C as a routine marker in chronic kidney disease monitoring with sales in Asia more than doubling compared to the same period last year,” commented Hilja Ibert, CEO of Gentian Diagnostics.
On 5 October 2021, Gentian provided an update on project milestones, and as announced, the development of an independent reference method has been achieved, while the NT-proBNP optimisation phase has proven to be more complex than assumed.
“We work hard to get NT-proBNP to the next development phase and aim to communicate an updated project timeline in connection with our Q4 report. Further, our key priorities near-term are to close the first commercial collaboration contract for GCAL with a leading global diagnostics provider, which is in the final stages of negotiation, and bring SARS-CoV-2 Ab to market before year end“ adds Ibert.
Webcast
Gentian’s CEO Hilja Ibert and CFO Njaal Kind will present the results today followed by an R&D presentation at 10.00-12.00 CEST. The presentation will be followed by a Q&A session. Join the webcast and submit questions via the following link:
https://attendee.gotowebinar.com/register/1577263042320634384
The webcast will be available on the company’s IR website after the presentation.
3Q2021 Report
3Q2021 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 21 October 2021 at 08:00 CET.
About Gentian
Gentian Diagnostics (OSE: GENT), founded in 2001, develops and manufactures high-quality, in vitro diagnostic reagents. Gentian’s expertise and focus lies within immunochemistry, specifically infections, inflammations, kidney failures and congestive heart failures. By converting existing and clinically relevant biomarkers to the most efficient automated, high-throughput analysers, the company contributes to saving costs and protecting life. Gentian is based in Moss, Norway, serving the global human and veterinary diagnostics markets through sales and representative offices in Sweden, USA and China. For more information, please visit www.gentian.com.