Revenue from sales at end-September up 23.8%
Revenue from activity for the first nine months of 2022 up 18.6%
Cash position of €0.5 million at end-September 2022
BAGNEUX, France, October 27, 2022--(BUSINESS WIRE)--Regulatory News:
Genomic Vision (FR0011799907 – GV, – the "Company") (Paris:GV), a biotechnology company that develops tools and services dedicated to the analysis and control of changes in the genome, today announced its revenue and cash position for the nine-month ended on September 30, 2022.
Nine-month revenue and Q3 2022
In € thousands –IFRS standards
Total revenue from sales
Total revenue from activity
Revenue from sales to September 30, 2022 totaled €768 thousands, up 23.8% compared to the same period last year. This increase is mainly due to the consolidation of the commercial offer and greater efficiency in logistics and customer relations.
Total revenue from activity to September 30, 2022, after taking into account other revenues, amounts to €1,116 thousand, up 18.6% compared to the same period last year. Other income, amounting to €348 thousand on 30 September 2022, corresponded to the Research Tax Credit.
Financial structure at September 30, 2022
Genomic Vision had a cash position of €0.5 million at September 30, 2022, compared to €1 million at June 30, 2022. This consumption of cash is mainly linked to the company's current activity.
Given the revised assumptions for sales growth and R&D, marketing and sales and general expenses, the associated working capital assumptions, and the contract signed with Winance, Genomic Vision has the required resources over the next 12 months to continue its development.
Upcoming financial publications
FY 2022 revenue: Wednesday, February 15, 2023 (after market)
ABOUT GENOMIC VISION
GENOMIC VISION is a biotechnology company developing products and services dedicated to the analysis (structural and functional) of genome modifications as well as to the quality and safety control of these modifications, in particular in genome editing technologies and biomanufacturing processes. Genomic Vision proprietary tools, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed to high confidence characterization of DNA alteration in the genome. These tools are mainly used for monitoring DNA replication in cancerous cell, for early cancer detection and the diagnosis of genetic diseases. Genomic Vision, based near Paris in Bagneux, is a public listed company listed in compartment C of Euronext’s regulated market in Paris (Euronext: GV – ISIN: FR0011799907).
Member of the CAC® Mid & Small and CAC® All-Tradable indices
FORWARD LOOKING STATEMENT
This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the "Risk Factors" section of the universal registration document filed with the AMF on April 14, 2022 under reference number R.22-0293, as updated by the amendment filed with the AMF on May 20, 2022, under number D.22-0293-A01, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements.
This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.
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