IntegraGen Reports Revenues for First Half of 2016
October 14 2016 - 1:45AM
Business Wire
Financials
- Sales of € 2.8 million, a 10% increase
vs. H1 2015
- Operational result +14%
Most significant scientific & business advances
- Partnership agreement with Greater
Paris University Hospital (AP-HP) to set up a common sequencing
platform
- International presentation of new
results on IntegraGen’s biomarker for optimizing treatment of
patients with metastatic colorectal cancer
Regulatory News:
IntegraGen (Paris:ALINT) (FR0010908723 – ALINT – Eligible PEA
PME), a company specializing in decoding the human genome and
delivering relevant and easily interpretable analyzes for academic
and private laboratories, today announced its revenues for the
first half of 2016. Company financial results for the first half of
2016 were reviewed during a Board of Directors meeting held on
September 29, 2016.
(in thousand €)
S1 2016
(6 months)
S1 2015
(6 months)
Var. %
Sales 2,880
2,624 + 10% Total
revenues 3,034
2,678 + 13% EBIT
(1,152) (1,343)
+ 14% Net result
(1,028) (872)
(18%)
30 June 2016
31 Dec 2015
Cash position (in thousand €)
3,780
5,018 (23%)
Bernard Courtieu, Chief Executive Officer of IntegraGen
stated:
”These solid financial and operational results confirm our
strategy focused on genomics and the development of molecular
diagnostic tools. Our Genomic Services business has grown by 10%
compared to the same time period in 2015 demonstrating our ability
to maintain organic growth while also attracting new prestigious
partners for sequencing activities such as the Greater Paris
University hospital (AP-HP), a partnership that will provide
opportunity for further growth over the next few years. Development
efforts for our miR-31-3p biomarker have also reached a very
significant milestone with the presentation of the results from the
analysis of new clinical trial data at the two largest cancer
meetings held in the U.S. and Europe. The very positive results we
presented will support IntegraGen’s effort to launch a miR-31-3p
diagnostic test in both Europe and in the United States”.
FINANCIALS
- Profit and loss statement
Sales for the first half of 2016 reached 2,880 thousand
euros compared to 2,624 thousand euros in H1 2015. After inclusion
of other revenues and variation of depreciation and provisions,
total revenues amount to 3,034 thousand euros. This compares to
2,679 thousand euros during H1 2015, an increase of 13%.
Operational charges amounted to 4,186 thousand euros, a
limited increase of 4% compared to H1 2015 demonstrating cost
containment, primarily due to a significant reduction in external
charges apart from reagents and personal costs.
Operational results were a loss of 1,152 thousand euros.
This compares to a loss of 1,343 thousand euros in H1 2015, an
improvement of 14%.
Financial results were a benefit of 52 thousand euros which was
related to a gain on currency exchange over the time period
covered. Exceptional results were a loss of 76 thousand euros. This
was related to the sale and acquisition of stock though a liquidity
contract. Last year, the exceptional result was a gain of 357
thousand euros, due to not yet amortized Coface allowances.
After inclusion of the financial and exceptional results, and an
income tax credit, the net result over the first six months
of 2016 was a loss of 1,028 thousand euros compared to a loss of
872 thousand euros in H1 2015.
Net cash as of June 30, 2016 was 3,780 thousand euros.
This compares to a cash balance of 5,018 thousand euros as of
December 31, 2015. Cash consumption remained stable at 1,238
thousand euros compared to 1,187 thousand euros over the comparable
time period in 2015.
OPERATIONS
Revenues of genomic services amounted to 2.8 M€, an increase of
10% compared to the same time period in 2015.This increase was
primarily due to “clinical research activities” realized in
IntegraGen’s laboratory located in Villejuif, activities realized
for the Institut. Pasteur, and to the value added services of the
Genomic Consulting (GeCo) business line launched in 2015.
Growth activities remained solid during the first half of 2016
including a new partnership with the Greater Paris University
Hospital announced on June 30, 2016. This partnership again
confirms IntegraGen’s ability to develop new clusters of business
in order to continue the growth it services business.
Results from an analysis of data from the FIRE-3 clinical trial
were presented during a plenary session at the 2016 ASCO meeting
held this past June and will also be presented at the 2016 ESMO
Congress being held in early October. This exciting data further
confirms the predictivity of IntegraGen’s proprietary miR-31-3p
biomarker related to anti-EGFR treatment efficacy in patients with
metastatic colorectal cancer. These results demonstrate that the
expression level of IntegraGen’s miR-31-3p microRNA biomarker
enables the identification of patients who will have increased
overall survival and treatment response from first line anti-EGFR
therapy versus the use of anti-VEGF therapy, with a more than one
year increase in median overall survival. This data demonstrating
the significant clinical benefit of miR-31-3p testing will support
IntegraGen’s plan to commercially launch a test based on this
biomarker in 2017.
ABOUT INTEGRAGEN
IntegraGen is a company specializing in deciphering the human
genome and producing relevant and easily interpretable data for
academic and private laboratories. IntegraGen’s oncology efforts
provide researchers and clinicians with sophisticated tools for
analysis and therapeutic individualization of treatment approaches
allowing them to tailor therapy to the genetic profiles of
patients. As of December 31, 2015, IntegraGen had 37 employees and
had generated revenue of €5.6 million in 2015. Based in Evry
Genopole, IntegraGen also has an U.S. office in Cambridge,
Massachusetts. IntegraGen is listed on Alternext of Euronext Paris
(ISIN: FR0010908723 - Ticker: ALINT - PEA-SME).
For more information on IntegraGen visit www.integragen.com.
Income Statement - INTEGRAGEN
SA
In K€
H1 2016 H1 2015 Var.
% Genomic sales 2 880 2 624
+10% Subsidies and other revenues 154 55
ns
Total Revenues 3 034 2 679
+13% Operating costs (4 186)
(4 022) (4%) Operating profit (1
152) (1 343) +14% Financial
Profit/Loss 52 (63) Exceptional Profit/Loss
(76) 357 Taxes (CIR) 149 178
(16%) Net result (1 028) (872)
(18%)
BALANCE SHEET - INTEGRAGEN SA
In K€
Jun 30,
2016 Dec 31, 2015 Long-Term
Assets 1 234 1
271 Stocks 343 268 Accounts
Receivable 1 406 1 393 Other
Receivable 626 665 Cash
3 780 5 018
Current Assets
6 155 7 345
Translation difference
4
4
TOTAL ASSETS 7 393
8 620 In K€
Jun 30, 2016 Dec 31, 2015
Shareholders’ Equity 1 905
2 933 Other Equity
1 492
1 592 Contingency 6
4 Notes payable to banks 0
0 Accounts Payable 1 482
2 469 Other short term debts 1 978
1 040 Translation difference 529
582
TOTAL LIABILITIES
7 393 8 620
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INTEGRAGENBernard COURTIEUPresident and CEOorLaurence
RIOT LAMOTTEChief Financial Officer+33 (0)1 60 91 09
00contact@integragen.comorNEWCAPInvestor and Media
RelationsLouis-Victor DELOUVRIER, +33 (0)1 44 71 98
53integragen@newcap.eu
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