COMPANY ANNOUNCEMENT - No. 7 -
BIRKERØD,
In 2020,
Financial results in 2020
The financial results of 2020 are in line with expectations:
- Revenue grew by 49% to TDKK 5,354 (TDKK 3,582 in 2019)
- Net operating expenses of TDKK -23,919 (TDKK -22,921 in 2019)
- Net result of TDKK -18,736 (TDKK -18,797 in 2019)
- Cash and cash equivalents amounted to TDKK 33,526 at year-end (TDKK 41,407 in 2019)
Business highlights in 2020
The business highlights show some of the results accomplished in 2020:
- Welcomed six new clinical routine hospital customers, including four from
Spain -
Received the first order from a private health clinic in
Sweden -
Entered into a distribution agreement with
Interlux Group to market suPARnostic® products in the Baltic countries - Validated and obtained CE-IVD approval for suPARnostic® TurbiLatex on Siemens Healthineers ADVIA® XPT Chemical Diagnostics System and Abbott Labs Architect Clinical Chemistry Platform
- Awarded a 6.6 DKKm EU Horizon 2020 grant for a project to optimize hospital resources and ensure early therapeutic intervention for COVID-19 patients based on suPARnostic®
- Completed two capital increases in connection with the exercise of warrants
- Updated the strategic objective to become cash flow positive with the existing cash at hand within the current strategic scope
This announcement is a summary and should be read in conjunction with ViroGates’ Annual Report for 2020, published on
A recording of the web conference will afterwards be made available via ViroGates’ website and Västra Hamnen Corporate Finance’s YouTube channel.
For further information, please contact:
CEO,
Tel. (+45) 2226 1355, email: jk@virogates.com
Certified Advisor:
Västra Hamnen Corporate Finance
Per Lönn
Tel. (+46) 40 200 250, email: per.lonn@vhcorp.se
About
The company was founded in 2000 based on the discovery that suPAR was predictive of the outcome in HIV-infections and subsequently in many other disease areas. Headquartered in
ViroGates’ shares (VIRO) are listed on Nasdaq First North Growth Market Denmark. For more information, please visit www.virogates.com.
About suPAR and suPARnostic®
suPAR is the biomarker detected by ViroGates’ suPARnostic® products and is a protein in plasma, measurable in every human being. suPAR is considered a general risk status biomarker indicating disease presence, disease severity and progression, organ damage and mortality risk across disease areas such as cardiovascular diseases, kidney diseases, type 2 diabetes, cancer, etc. Strong scientific evidence from more than 600 clinical trials and studies show that the higher the level of suPAR, the worse the prognosis for the patient.
The suPARnostic® products can be used to support healthcare professionals in making clinical decisions on hospitalization or discharge of acute care patients. The increasing demands on health systems globally and tightening healthcare budgets necessitate efficiency improvements and innovative solutions in hospitals. The use of suPAR in clinical routine in emergency departments can improve patient care and reduce healthcare costs by increasing the number of discharges by 34% and reducing the average hospital length-of-stay by 6% without affecting mortality. suPARnostic® TurbiLatex is currently available on Roche Diagnostics’ cobas, instruments, Siemens ADVIA XPT instruments and the Abbott Labs Architect and Alinity instruments.
Disclaimer
Prospects about the future reflect
Contacts
Jakob Knudsen , CEO, +45 2226 1355, jk@virogates.com
Attachments
- 20210324-ViroGates Annual Report 2020-Company announcement 7.pdf
© Ritzau Denmark, source