BIOCARTIS : ANNOUNCES 2021 RESULTS AND 2022 OUTLOOK

PRESS RELEASE	REGULATED INFORMATION
	24 February 2022, 07:00 CET

BIOCARTIS ANNOUNCES 2021 RESULTS AND 2022 OUTLOOK

Mechelen, Belgium, 24 February 2022 - Biocartis Group NV (the 'Company' or 'Biocartis'), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces its operational highlights and financial results for 2021, prepared in accordance with IFRS as adopted by the European Union as well as selected post period events and its outlook for 2022.

Commenting on the 2021 results and 2022 guidance, Herman Verrelst, Chief Executive Officer of Biocartis, said: "2021 has proven to be an eventful year. A fire and a shortage of raw cartridge materials significantly troubled our cartridge manufacturing, but our teams managed through the situation extremely well and minimized impact to our loyal customers. We were undeniably held back in our ambition to grow much faster. Nonetheless, we were able to deliver a robust 40% volume growth in commercial cartridges for the full year and built out an installed base of close to 2,000 Idylla™ instruments, while exceeding EUR 50m in revenue from core activities. Simultaneously, 2021 was a year of menu expansion: we launched two new tests and signed new partnerships, including the partnership in melanoma with SkylineDx for high-valuetest content on Idylla™. We also made important progress in the US, where we submitted our first oncology assay with the US FDA and our partner Immunexpress obtained US FDA 510(k) clearance for SeptiCyte® RAPID on Idylla™. Finally, the continued positive feedback from our customers and new studies re-confirmedthe value of Idylla™ to patients. These growth drivers are all important as we pursue our mission to bring more, better and faster molecular diagnostics to patients across the globe, through the offering of tests across the entire spectrum of cancer care, from prognosis to surveillance, and in infectious diseases. Looking ahead at 2022, we will continue to grow revenues and lay a solid foundation for profitable growth as we scale our manufacturing capabilities and significantly reduce the cash burn while developing, together with partners, new high value tests on Idylla™."

KEY MESSAGES 2021 RESULTS

Total operating income:

• Revenue from product sales and Idylla™ system services amounted to EUR 42.2m, a year-over-year increase of 27%
• Total revenue of EUR 48.3m, up 12% from 2020
• Total operating income of EUR 54.9m compared to EUR 55.6m in 2020

Commercial cartridges:

• Growth of the commercial cartridge volume by 40% to 323k cartridges
• Strong growth in oncology of 25% year-on-year, particularly in European and distributor markets1. US volumes were stable as COVID-19 testing volumes declined, while a strong increase of the Average Sales Price (ASP) led to double-digit growth of oncology revenue
• Consistent demand for the Idylla™ SARS-CoV-2 testing products2, shifting from the US to Europe compared

to 2020

Installed base:

• 331 net new Idylla™ instruments placed in 2021
• Global installed base of 1,912 Idylla™ instruments as at 31 December 2021

Partnerships:

• New partnership agreement withSkylineDxfor the development of the Merlin Assayon Idylla™, aimed at predicting a patient's risk of nodal metastasis in melanoma
• Expanded partnership with AstraZenecato improve access to rapid and easy-to-use Idylla™ EGFR testing products at selected hospital sites in European and global distributor markets
• Post the reporting period, on8 February 2022, Biocartis announced the signing of an agreement with Ophiomics which will initially focus on the commercialization of HepatoPredict™, a prognostic gene expression signature test to help identify which patients will benefit from curative-intent surgery, in particular liver transplantation.

1 Defined as the world excluding European direct markets, US, China and Japan

2 In the US, distribution of the Idylla™ SARS-CoV-2 Test was initiated in Q3 2020 per US FDA Policy for Coronavirus Disease-2019 Tests During the Public Health Emergency (Revised), May 2020, Section IV.C. Commercial Manufacturer Development and Distribution of Diagnostic Tests Prior to EUA Submission

Idylla™ test menu:

• Launch of theIdylla™ GeneFusion Assay(RUO3) as a rapid lab workflow solution for gene fusion testing of ALK, ROS1, RET, NTRK 1/2/3, as well as MET exon 14 skipping which is increasingly used in research related to multiple cancer types including lung cancer, thyroid cancer and others
• First oncology assay US FDA submission with the 510(k) submission4 of the Idylla™ MSI Test5
• Launch of theIdylla™SARS-CoV-2/Flu/RSVPanel(CE-IVD) which detects, in one single cartridge, SARS-CoV- 2, Flu A/B and RSV6 nucleic acids, with results in approximately 90 minutes
• Received US FDA 510(k) clearance forSeptiCyte®RAPID7 on Idylla™8 (CE-IVD, US FDA 510(k)), developed

under the partnership with Immunexpress9

China & Japan commercialization:

1. In China, submission of the Idylla™ Instrument and Console with the China NMPA10 completed and initial feedback received from the NMPA regulatory agency

1. In Japan, Nichirei Biosciences submitted in Q4 2021 the registration applications of the Idylla™ MSI Test, the
   Idylla™ KRAS Mutation Test and the Idylla™ NRAS-BRAF Mutation Test with the PMDA regulatory agency

Cash position:

• 2021 was a year of exceptional investment, including the upgrade of the menu to comply with the new IVDR (In Vitro Diagnostics Regulation11) and various initiatives to expand and diversify the test menu and to further improve our technological capabilities. The cash burn for the year amounted to EUR 70.1m and was in line with expectations, except for the insurance claim for fire damages of EUR 4.6m, of which EUR 3.8m is yet to be collected
• Cash and cash equivalents amounted to EUR 53.5m at 31 December 2021. The cash position included EUR 6.0m drawn on short-term credit facilities

2022 OUTLOOK

In 2022, the Company will continue to focus on driving profitable growth and expects to:

• Grow product revenue by 24-36% to between EUR 50m and EUR 55m
• Achieve a gross margin on product sales of between 25% and 30%
• Reduce the operating cash burn (EBITDA plus capital expenditure) with EUR 9.5m-EUR 13.5m to between EUR 47m-EUR 43m

Biocartis will host a conference call with live webcast presentation today at 14:30 CET / 13:30 BST (UK) / 08:30 EST (US) to discuss the full year 2021 results. Click hereto access the live webcast. To participate in the questions and answers session, please dial 5-10 minutes prior to the start time the number [phone], followed by the confirmation code 9959967. The conference call and webcast will be conducted in English. A replay of the webcast will be available on the Biocartis investors' websiteshortly after.

COMMERCIAL HIGHLIGHTS

• Global - The number of commercial cartridges sold in 2021 grew by 40% to 323k from 230k in 2020. Oncology volumes were driven by a strong customer demand in all regions, resulting in +96% growth in the first half of 2021. Cartridge volumes also included a continued contribution from the Idylla™ SARS-CoV-2 Test that was comparable to the second half of 2020. Nevertheless, the global supply of reagents was already disrupted in the first half of 2021, and the fire at one of the Biocartis facilities at the end of July 2021 only added to a constrained production capacity on the Company's high-throughput manufacturing line (ML2). The production on the ML2 line had to be halted for two months and the replenishment of raw materials restrained the growth of the commercial cartridge volume for the full year to 40% as customer demand could only be partly met. The pace at which new Idylla™ instruments were installed equally slowed down because of insufficient cartridge supply needed to onboard new customers. Net new placements of 331 instrument were nevertheless in line with the stated objective for the year and strengthened the global installed base to 1,912 Idylla™ instruments. The ASP of commercial cartridges in 2021 amounted to EUR 96. As expected, the ASP for Idylla™ oncology assays of EUR 105 was diluted by lower

3 Research Use Only, not for use in diagnostic procedures

4 A 510(k) is a premarketing submission made to FDA to demonstrate that the device to be marketed is as safe and effective, that is, substantially equivalent (SE), to a legally marketed device that is not subject to premarket approval (PMA). A 510(k) or Premarket Notification (PMN) with the US FDA is required when introducing a device into commercial distribution for the first time. Source: https://www.fda.gov/medical- devices/products-and-medical-procedures/device-approvals-denials-and-clearances, last consulted on 4 January 2022

5 For use as an in vitro diagnostic device intended for the identification of microsatellite instability (MSI) status in colorectal (colon) cancer (CRC) to aid in the differentiation between sporadic CRC and potential Lynch syndrome

6 Respiratory Syncytial Virus

7 SeptiCyte® RAPID is developed by Immunexpress Inc in collaboration with Biocartis. Biocartis has the exclusive distribution rights for the EU. The test is not available in all countries. Availability to be checked with a local Biocartis representative

8 The Idylla™ Instrument and Idylla™ Console have been exempted by the US FDA since 12 July 2017 and as such are not subject to 510(k) notification requirements prior to being placed on the US market for in vitro diagnostic use with US FDA approved or cleared assays

9 Immunexpress Pty Ltd ('Immunexpress') is a Seattle-based molecular diagnostic company focused on improving outcomes for suspected sepsis patients

10 China NMPA requires local type testing for the market approval of Class II and Class III medical device/IVD products. China local type testing is a mandatory step for registration and must be completed before the initiation of local clinical studies if needed. Testing was conducted by a testing lab authorized by the NMPA

11 Replacing the current Directive 98/79/EC on in vitro diagnostic medical devices from 26 May 2022

prices for the Idylla™ SARS-CoV-2 Test as compared to 2020. Sales related to the Idylla™ SARS-CoV-2 products amounted to 14% of total revenues in 2021.

• Europe - Sales in Europe exceeded expectations with a year-over-year overall growth of 69%, driven by continued high growth in oncology as well as a strong sale of the Idylla™ SARS-CoV-2 tests to new, large customers in Norway, the UK and Italy.
• US - In the US, the commercialization of Idylla™ products to new customers has not entirely normalized across the country. The Company took the opportunity to restructure its US commercial operations, putting in place new sales leadership to reorientate, expand and retrain its commercial staff. This restructuring, in combination with the overall market environment, temporarily paused new Idylla™ instrument placements and cartridge volumes in oncology stabilized. However, the ASP significantly increased, leading to robust double-digit growth of oncology cartridge revenue. As expected, demand for the Idylla™ SARS-CoV-2 Test reduced from the strong demand in the fourth quarter of 2020 which was characterized by a capacity constrained testing market.
• Distributor markets - Of all geographies, in oncology, the distributor markets grew the fastest 2021. Except for a few smaller countries, demand bounced back strongly from 2020, including in Latin-America that was hit hard by the pandemic. Initial commercial sales were accomplished in Russia and Taiwan, following product registrations in these markets in Q1 202112. Additionally, further to new UK regulations, market authorizations for the Idylla™ platform and oncology assays have been granted by the UK MHRA regulatory agency in December 2021. Furthermore, in November 2021, the Idylla™ SARS-CoV-2 Test was submitted with the UK CTDA and the registration is expected in Q1 2022. Finally, in December 2021, Kazakhstan granted the registration of the Idylla™ platform and oncology assays.
• Japan commercialization - After successfully completing the clinical performance evaluation studies in Japan,
  Biocartis' partner Nichirei Biosciences submitted in Q4 2021 the registration applications of the Idylla™ MSI Test, the Idylla™ KRAS Mutation Test and the Idylla™ NRAS-BRAF Mutation Test with the Japanese PMDA agency. Initial
  Idylla™ assay registrations in Japan are expected earliest end of 2022.
• China commercialization - Following the submission of the Idylla™ Instrument and Console with the China NMPA early 2021, Biocartis received initial feedback. The set-up of local manufacturing capability is nearing completion. Initial Idylla™ assays registrations in China are however not expected before late 2023 due to changed regulatory requirements regarding clinical validation.

TEST MENU AND PARTNERSHIP HIGHLIGHTS

• Oncology: In 2021, Biocartis progressed both in its test menu and partnerships:
• • Idylla™ GeneFusion Assay - In March 2021, Biocartis launched the Idylla™ GeneFusion Assay(RUO) as a rapid lab workflow solution for gene fusion testing of ALK, ROS1, RET, NTRK 1/2/3, as well as MET exon 14 skipping which is increasingly used in research related to multiple cancer types including lung cancer, thyroid cancer and others. A CE-IVD launch of the Idylla™ GeneFusion Assay is expected in 2022 (see 'menu outlook');
  • 510(k) submission Idylla™ MSI Test - In April 2021, Biocartis announced its first US FDA submission of an oncology assay with the 510(k) submission of its Idylla™ MSI Testfor use as an in vitro diagnostic device intended for the identification of microsatellite instability (MSI) status in colorectal (colon) cancer (CRC) to aid in the differentiation between sporadic CRC and potential Lynch syndrome;
  • Partnership SkylineDx - Also in April 2021, Biocartis announced the signing of a partnership agreement with SkylineDxwhich targets the development of their novel proprietary test, the Merlin Assay, on the Idylla™™ platform, which is aimed at predicting a patient's risk of nodal metastasis in melanoma. The CE-IVD launch of the manual kit of the Merlin Assay in collaboration with SkylineDx for commercialization in Europe by Biocartis is expected this year (see 'outlook' below);
  • Partnership AstraZeneca - InMay 2021, Biocartis announced itsexpanded partnership with AstraZenecato improve access to rapid and easy-to-useIdylla™ EGFR testing products at selected hospital sites in European and global distributor markets;
  • VLAIO grant - Also in May 2021, Biocartis announced the EUR 1.4 million grant it received from VLAIO, the Flanders organization for Innovation & Entrepreneurship, for the ongoing development of a highly innovative technology to be deployed on the Idylla™ platform aimed at enabling the off-line customization of the Idylla™ cartridge;
  • Partnership Ophiomics - Post the reporting period, on 8 February 2022, Biocartis announced it had signed an agreement with Ophiomics, a Lisbon (Portugal) based biotech company developing a precision medicine portfolio focused on liver cancer. The collaboration will initially focus on the commercialization of
    HepatoPredict™, a prognostic gene expression signature test to help identify which patients will benefit from curative-intent surgery, in particular liver transplantation. HepatoPredict™ will be distributed by Biocartis in

12 During Q1 2021, the Idylla™ platform, the Idylla™ BRAF Mutation Test (CE-IVD) and the Idylla™ EGFR Mutation Test (CE-IVD) completed registration in Russia, and the Idylla™ MSI Test (CE-IVD) completed registration in Taiwan, as such expanding the commercial footprint for Biocartis' IVD medical devices. Post the reporting period, additional registrations were also completed in Taiwan

Europe as a manual kit mainly addressing centralized expert laboratories, and the test may later be translated into a version on the Idylla™ platform;

• • • Partnership GeneproDx - RUO launch of the ThyroidPrint© on Idylla™ in collaboration with GeneproDx is expected in 2022 (see 'outlook' below);
    • Partnership LifeArc - RUO launch of the Idylla™™ ABC (Advanced Breast Cancer) Assay in collaboration with
      LifeArc is expected in 2022 (see 'outlook' below).
  • Infectious diseases:In 2021 Biocartis further strengthened its infectious disease menu:
  • • Launch Idylla™ SARS-CoV2/Flu/RSVPanel - In September 2021, Biocartis announced the launch of its Idylla™ SARS-CoV2/Flu/RSV Panel (CE-IVD) which detects, in one single cartridge, SARS-CoV-2, Flu A/B and RSV nucleic acids, with results in approximately 90 minutes;
    • 510(k) clearance forSeptiCyte®RAPID - In November 2021, Biocartis announced the US FDA granted 510(k) clearance for SeptiCyte® RAPID (CE-IVD, US FDA 510(k)) which runs on the Idylla™ platform13 and was developed under the partnership with Immunexpress. The SeptiCyte® RAPID is a fully automated, rapid host- response test14 that distinguishes sepsis from infection negative systemic inflammation in patients suspected of sepsis, providing actionable results in approximately 1 hour, enabling physicians to optimize patient management decisions. In 2022, SeptiCyte® RAPID PLUS, an assay based on SeptiCyte® RAPID that can also distinguish between bacterial and viral infections, is expected to be launched as a CE-IVD (see 'outlook' below).
• Idylla™ performance data: During 2021, 34 new Idylla™ papers were published, bringing the total number of Idylla™ papers published end of 2021 to 123. Idylla™'s excellence along with the performance of Idylla™'s EGFR15 testing solutions was emphasized through several studies and abstracts:
• • InFebruary 2021, Biocartis announced the publication of two studies16 by Memorial Sloan Kettering Cancer
    Center ('MSKCC', New York, US) on the use of Biocartis' Idylla™ EGFR Mutation Assay(RUO) as a rapid first- line testing method before using next-generation sequencing (NGS). Both studies concluded that Idylla™ EGFR testing enables rapid assessment of the most common EGFR mutations with low sample input, even on different sample types, without compromising subsequent more comprehensive NGS testing17;
  • InNovember 2021, Biocartis announced the publication of a study18 which concluded that the Idylla™ platform contributes to improving patient management decisions for patients with non-small cell lung cancer (NSCLC) through the faster screening of EGFR mutations.

ORGANIZATIONAL AND OPERATIONAL HIGHLIGHTS

• Fire incident - During the night of 30 July 2021, a fire broke out at one of the warehouse facilities in Mechelen (Belgium), causing the loss of finished products and raw materials as well as the temporary unavailability of the high-throughput ML2 manufacturing line. Cartridge manufacturing was suspended on the ML2 line for nearly two months and the time needed to replenish available stocks of raw materials caused order backlogs across a variety of Idylla™ assays in the second half of the year.
• Cartridge manufacturing - Transfer of the Idylla™ EGFR Mutation Test (CE-IVD) to the ML2 line was completed during H1 2021, as such concluding the transfer of Biocartis' main oncology assays to the fully automated ML2 line. This is a key driver of cost optimizations within the Company's cartridge manufacturing activities and was demonstrated by a 33% gross margin on assays produced on the ML2 line, despite lower-than-expected production volumes on this line throughout 2021. The Idylla™ SARS-CoV-2 Test and Idylla™ SARS-CoV-2/Flu/RSV Panel are being transferred to the ML2 line in the first half of 2022 and this is expected to further contribute to absorbing fixed manufacturing costs awaiting full capacity utilization of the ML2 line that can produce up to 1m tests annually.
• Ordinary and Extraordinary General Shareholders' Meetings - During theordinary shareholders' meetingheld on 14 May 2021, the shareholders of the Company approved all items on the agenda of the annual shareholders' meeting including the approval of the remunerationpolicy and report, the re-appointmentof Herman Verrelst, Chief Executive Officer of the Company, as director of the Company for a term of four years, and the re-appointmentof Christian Reinaudo as independent director of the Company for a term of three years. Since there was no deliberation and voting on the items on the agenda of the extraordinary shareholders' meeting because the attendance quorum for such meeting was not reached, Biocartis convened a second extraordinary shareholders' meeting with the same agenda items, for which no attendance quorum applied. During thisextraordinary general shareholders' meetingheld on 4 June 2021, the shareholders of the Company approved all agenda items, including the renewal of the

13 The Idylla™ Instrument and Idylla™ Console have been exempted by the US FDA since 12 July 2017 and as such are not subject to 510(k) notification requirements prior to being placed on the US market for in vitro diagnostic use with US FDA approved or cleared assays

14 Host-response based tests focus on measuring biomarkers that are indicative of the response of a patient's immune system to an infection rather than measuring pathogens that are the cause of the infection 15 EGFR or 'Epidermal growth factor receptor' mutations are the second most common oncogenic driver in non-small cell lung cancer (NSCLC)

16 Arcila ME, Yang S-R, Momeni A, Mata DA, Salazar P, Chan R, Elezovic D, Benayed R, Zehir A, Buonocore DJ, Rekhtman N, Lin O, Ladanyi M, Nafa K, Ultra-Rapid EGFR Mutation Screening Followed by Comprehensive Next-Generation Sequencing: A Feasible, Informative Approach for Lung Carcinoma Cytology Specimens with a High Success Rate., JTO Clinical and Research Reports (2020), doi: https://doi.org/10.1016/j.jtocrr.2020.100077., available online 18 July 2020; Arcila ME et al., Rapid EGFR Mutation Detection Using the Single-Institution Experience of 1200 Cases Analyzed by an In-House Developed Pipeline and Comparison with Concurrent Next-Generation Sequencing Results Idylla™ Platform, J Mol Diagn 2020, Published on 23 December 2020, 1-12; https://doi.org/10.1016/j.jmoldx.2020.11.009

17 Which can be useful in cases where EGFR mutation results were negative and further testing is needed

18 Petiteau, C.; Robinet-Zimmermann, G.; Riot, A.; Dorbeau,M.; Richard, N.; Blanc-Fournier, C.; Bibeau, F.; Deshayes, S.; Bergot, E.; Gervais, R.; et al. Contribution of the Idylla™ System to Improving the Therapeutic Care of Patients with NSCLC through Early Screening of EGFR Mutations. Curr. Oncol. 2021, 28, 4432-4445. https://doi.org/10.3390/curroncol28060376, published 3 November 2021

authorization to the Board of Directors to increase the share capital of the Company by up to 75% of the then current amount of the share capital, during a period of five years.

FINANCIAL HIGHLIGHTS

• Product sales revenues - Total product sales increased to EUR 40.5m in 2021, a 27% increase from EUR 31.9m in 2020.
  o Income from cartridge sales amounted to EUR 31.6m and grew 27% year-over-year. Total cartridge volume of 326k cartridges (+34%) included 323k commercial cartridges (+40%) and 4k R&D cartridges (-69%). As expected, the commercial ASP of EUR 105 in oncology was diluted by the lower pricing of the Idylla™ SARS- CoV-2 Test, resulting in an overall commercial ASP of EUR 96 compared to EUR 102 in 2020. Revenue generated by sales of the Idylla™ SARS-CoV-2products represented 14% of total revenue.
  o The 331 net new installations of the Idylla™ platform was relatively consistent with 2020 (335), but the revenue increased by 25% to EUR 8.9m. The increase was primarily driven by a higher ASP while the proportion of capital sales in total placements of 51% remained comparable (2020: 49.5%).
• Total operating income - Total operating income amounted to EUR 54.9m in 2021 compared to EUR 55.6m in 2020. In addition to grant income of EUR 2.0m, other income included the insurance claim of EUR 4.6m for damages caused by the fire, including the impact of lost revenue. 2020 included a one-off settlement payment of EUR 10.3m (USD 12.0m) received in connection with the termination of the collaboration with Genomic Health, Inc. for the development of the Oncotype DX Breast Recurrence Score® test on Idylla™. The continued growth of the installed base led to a 39% increase in income from system servicing (2021: EUR 1.7m; 2020: EUR 1.2m). Income from collaborations decreased from EUR 10.0m in 2020 to EUR 6.1m in 2021, in the absence of licensing fees (2020: EUR 1.8m) and because of lower R&D services provided to partners. Despite a growing number of collaborations, the recognition of revenue is strongly depending on and varying with the specific stage of the various development projects.
• Cost of goods sold - Cost of goods sold increased to EUR 33.9m, 29% higher than in 2020, driven by 40% higher commercial cartridge volumes. Despite higher cartridge volumes, the gross margin on product sales amounted to 16% in 2021 compared to 18% in 2020. The utilization of the high-throughput automated manufacturing line ML2 was significantly lower than planned as a direct result of the fire and constrained supply of certain reagents. During the forced two-month production stop of the ML2 line, the production of certain assays was transferred to the ML1 line to preserve customer supply as much as possible. The manufacturing capacity on the ML1 line is however significantly lower and the manufacturing cost significantly higher than on the ML2 line. However, even with low production volumes on the ML2 line throughout 2021, the gross margin on assays produced on the ML2 line already reached 33%, clearly demonstrating the Company's ability to scale with unhindered and increasing production on the ML2 line. Additionally, the gross margin also slightly decreased because of lower pricing of the Idylla™ SARS- CoV-2 test products in 2021. Both tests are being transferred to the ML2 line in the first half of 2022 and will generate a contribution to the absorption of fixed manufacturing costs awaiting full capacity utilization of the ML2 line that can produce up to 1m tests annually.
• OPEX - Total operating expenses (excluding cost of sales) amounted to EUR 83.6m included a write-off of EUR 3.2m on raw materials and cartridges lost in the fire. Excluding the impact of the fire, operating expenses increased by EUR 4.2m or 6% from EUR 76.1m in 2020. As announced at the beginning of 2021, the Company allowed for exceptional investment in menu expansion and diversification. The pandemic and prioritizing the development of the Idylla™ SARS-CoV-2 Test in 2020 also led to the delay and carry-over of certain projects into 2021.
• Operational cash flow - Lower total operating income, higher operating expenses and the outstanding collection of most of the fire insurance claim caused the total cash flow used in operating and investing activities to increase from EUR 43.3m in 2020 to EUR 69.5m in 2021.
• Cash position - Biocartis' cash position as per 31 December 2021 amounted to EUR 53.5m and included EUR 6.0m drawn-down on short-term credit facilities. Biocartis intends to significantly reduce its cash burn in 2022 and is investigating multiple options to strengthen its cash position in the course of 2022.
• Additional details - See key figures 2021 below for more details on the 2021 financials.

POST-PERIOD EVENTS

• Achievement 2021 key business objectives - On 10 January 2022, Biocartis announced it had achieved its most recent key business objectives for 2021.
• Large UK study EGFR testing - On 25 January 2022, Biocartis announced the publication of a large new study19 comparing the difference in turnaround time between in-house automated rapid PCR20-based EGFR analysis and Next-Generation Sequencing (NGS) by an external laboratory, with a focus on patient health outcome. The study concluded that a dual PCR and NGS testing strategy for stage IV non-squamous,non-small cell lung cancer (NSCLC)

19 A. Finall et al., J Clin Pathol . 2022 Jan 18;jclinpath-2021-207987. doi: 10.1136/jclinpath-2021-207987. Online ahead of print

20 Polymerase Chain Reaction or PCR is a fast and inexpensive technique used to amplify or copy small segments of DNA and used to detect genetic material such as biomarkers that drive cancer