Genomic Vision: Financial Information for the Fourth Quarter of 2021
February 15 2022 - 12:30PM
Business Wire
- Revenue from activity up 9% in 2021 to €1.4 million
- Sales of products and services down 8% in 2021 to €1.0
million
- Financial resources offering financial visibility through to
the 4th quarter of 2022
Regulatory News:
Genomic Vision (FR0011799907 – GV) (Paris:GV), a
biotechnology company that develops tools and services dedicated to
the analysis and control of changes in the genome, today reported
its revenue and cash position at December 31, 20211.
Revenue for the fourth quarter and full year 2021
FY
4th quarter
In thousands of euros – IFRS
2021
2020
∆
2021
2020
∆
Sales of products and services
994
1,084
-8%
374
289
29%
of which: life science research
(LSR)
959
971
-1%
364
276
32%
of which: in-vitro diagnostics
(IVD)
35
113
-69%
10
13
-23%
Other revenue
419
213
97%
99
7
n.s.
Total revenue from activity
1,413
1,297
9%
473
296
60%
In the fourth quarter of 2021, sales of products and
services totaled €374 thousand, an increase of 29% compared
with the fourth quarter of 2020, with:
- €364 thousand that notably includes the sale of a Fibervision®
platform to the University of Florida (research market - LSR),
- €10 thousand in sales of the FSHD test essentially to La Timone
hospital in France (in-vitro diagnostics market - IVD).
Total revenue from activity totaled €473 thousand in the
fourth quarter of 2021, versus €296 thousand in the fourth quarter
of 2020, an increase of 60%.
Total revenue from activity was €1,413 thousand over the
year to December 31, 2021, up 9% compared with the year to December
31, 2020, and consisted of:
- sales of products and services of €994 thousand in 2021,
down 8% compared with 2020, each of the two financial years
including the sale of one platform,
- other revenue of €419 thousand over the year to December
31, 2021, corresponding to Research Tax Credit whose increase was a
direct result of the Company’s refocus on its Research and
Development activities in 2021.
Financial structure
At December 31, 2021, Genomic Vision had cash and cash
equivalents of €2.3 million. The Company estimates that its
available cash will enable it to finance its activities until May
2022, with the additional cash required to enable it to continue
its activities over the coming 12 months estimated at €5
million.
In order to cover its working capital requirements, the Company
put in place a financing line with Winance via the signing, on June
11, 2020, of an OCABSA (convertible notes with warrants) issuance
contract. This contract provides for the issuance, to the benefit
of Winance, of a number of €1 million tranches of OCABSA
representing a maximum total bond issue of €12 million over a
24-month period.
The Company thus has a remaining balance of €6 million on this
financing line, in accordance with the characteristics indicated in
the Prospectus granted visa number 21-028 by the AMF French stock
market authority on February 9, 2021 and under the contractual and
legal conditions.
Based on updated sales growth and Research & Development,
Sales & Marketing and General & Administrative spending
hypotheses, and on associated working capital requirement
assumptions, Genomic Vision will have the necessary resources to
continue its development through to the final quarter of 2022.
The investment and growth financing requirements are based on
the following key strategic priorities:
- acceleration in the launch of high value-added applications
onto the market;
- improvement in the performances and design of new products to
enhance the sales offer;
- rapid strengthening of the teams, notably R&D and Sales
teams, by recruiting talented new staff.
Next financial communication*
- Full year results 2021: Thursday, April 21, 2022
* Indicative date, subject to change. Publication will take
place after the close of the Euronext 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. Based near Paris, in Bagneux, GENOMIC VISION is a
public listed company listed in compartment C of Euronext’s
regulated market in Paris (Euronext: GV – ISIN: FR0011799907).
For further information, please visit www.genomicvision.com
***
Member of the CAC® Mid & Small and CAC®
All-Tradable indexes
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 February 9, 2021 under
reference number R.21-002, 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.
1 Unaudited data
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Genomic Vision Dominique Remy-Renou CEO Tel.: +33 1 49 08
07 51 investisseurs@genomicvision.com
Ulysse Communication Press Relations Bruno Arabian
Tel.: +33 1 42 68 29 70 barabian@ulysse-communication.com
NewCap Investor Relations & Strategic
Communications Tel.: +33 1 44 71 94 94 gv@newcap.eu
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