Inactive Instrument

DIUL GROUP

Equities

DNL

GB00BDB6Q760

Diurnal : Business and trading update

January 20, 2020 at 02:24 am EST

20 January 2020

Diurnal Group plc

('Diurnal' or the 'Company')

Business and trading update

Strong revenue performance ahead of further country launches in Europe

Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, today provides a business and unaudited trading update for the six months ended 31 December 2019.

Financial highlights:

· Alkindi^® revenues for the six months ended 31 December 2019were £1.1m. This compares to £0.2m for the six months ended 31 December 2018 (year on year growth of c. 450%) representing strong performance ahead of further launches expected in European countries this calendar year

· Cash position at 31 December 2019: £4.6m before an outstanding R&D tax credit claim of £2.1m in respect of 2019 financial year which the company expects to receive during 2020

Operational highlights

· Alkindi^® now launched in UK, Germany, Austria, Sweden, Norway, Denmark and Iceland, with further launches planned in Italy, Netherlands and Spain for 2020

· Submission of Marketing Authorisation Application (MAA) for Chronocort^® to the European Medicines Agency (EMA) in December 2019

· US partnering discussions progressing following Alkindi^® New Drug Application (NDA) submission in November 2019

Martin Whitaker, Chief Executive Officer of Diurnal, commented:

'Diurnal starts 2020 in a strong position, with regulatory submissions completed during 2019 for Alkindi^® in the US, Israel and Australia and for Chronocort^® in Europe. We are pleased that Alkindi^® revenues continue to grow strongly and look forward to further launches during the first half of 2020 in Italy and the Netherlands, following agreement of pricing, and in Spain in the second half of 2020. We are also pleased with the continued progress in our US licensing discussions following the submission of our NDA for Alkindi^® in late 2019, and believe we remain on track to announce a licensing partner in H1 2020.'

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

For further information, please visitwww.diurnal.co.ukor contact:

Diurnal Group plc	+44 (0)20 3727 1000
Martin Whitaker, Chief Executive Officer
Richard Bungay, Chief Financial Officer

Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)	+44 (0)20 7886 2500
Corporate Finance: Freddy Crossley, Emma Earl
Corporate Broking: James Stearns

Cantor Fitzgerald Europe (Joint Broker)	+44 (0)20 7894 7000
Corporate Finance: Phil Davies, Will Goode, Michael Boot
Healthcare Equity Sales: Andrew Keith

FTI Consulting (Media and Investor Relations)	+44 (0)20 3727 1000
Simon Conway
Victoria Foster Mitchell

Notes to Editors

About Diurnal Group plc

Founded in 2004, Diurnal is a UK-based specialty pharma company developing high quality products for the global market for the life-long treatment of chronic endocrine conditions, including Congenital Adrenal Hyperplasia and Adrenal Insufficiency. Its expertise and innovative research activities focus on circadian-based endocrinology to yield novel product candidates in the rare and chronic endocrine disease arena.

For further information about Diurnal, please visitwww.diurnal.co.uk

Date of Preparation: January 2020 Code: CORP-GB-0047

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Diurnal Group plc published this content on 20 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2020 07:23:06 UTC

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Company Profile

Diurnal Group plc is a specialty pharmaceutical company. It is focused on developing hormone therapeutics to aid lifelong treatment for rare and chronic endocrine conditions, including congenital adrenal hyperplasia, adrenal insufficiency, hypogonadism, and hypothyroidism. It focuses on addressing unmet clinical and patient needs in hormone replacement by developing and marketing products for the rare and orphan diseases Congenital Adrenal Hyperplasia (CAH) and Adrenal Insufficiency (AI). The Company's products include Alkindi and Efmody. Its product Alkindi (hydrocortisone granules in capsules for opening) is a specifically designed for young children suffering from paediatric AI, and the related condition CAH. Its product Efmody (modified-release hydrocortisone) provides a drug release profile that is designed to improve disease treatment for adults with CAH, as measured by androgen (male sex hormone) control. Its pipeline includes DNL-0200, DNL-0300, DNL-0400 and DNL-0500.

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