MagForce AG reported earnings results for the year ended December 31, 2018. For the year, the company reported revenues increased to EUR 67,000 compared to EUR 716,000 in the previous year. Operating result was EUR 6,828,000 compared to loss of EUR 7,411,000 in the previous year. Net profit for the business year was EUR 4,358,000 against loss of EUR 7,465,000 a year ago.

Even if the European expansion strategy should bear first fruit with sales from Poland, a significant operating loss is expected for the financial year 2019, in particular due to the intensified continuation of the expansion strategy and the associated initiation of treatment series to obtain reimbursement as well as the necessary expansion of commercialization activities.