Genomic Vision: 2014 Annual Revenue from Sales at €3.5 Million
January 15 2015 - 12:27PM
Business Wire
Solid cash position of €22.8 million
Regulatory News:
Genomic Vision (Paris:GV) (FR0011799907 – GV / PEA-PME
eligible), a molecular diagnostics company specialized in the
development of diagnostic tests for genetic diseases and cancers
based on molecular combing, today announces its revenue from sales
and cash position1 at December 31, 2014.
Revenue from sales for the 4th quarter and
full-year 2014
In thousands of euros
Q4 2014 2014
2013 Revenue from R&D Quest Diagnostics
361 3,218 2,655 Product sales 75 237
232
Total revenue from sales 435
3,455 2,887
Over the 4th quarter of 2014, Genomic Vision recorded revenue
from sales of €435 thousand. This essentially comprises revenue
from the Company’s R&D collaboration with its American partner
Quest Diagnostics, which totaled €361 thousand over the period, in
line with the progress achieved within the framework of their
collaboration. The €75 thousand in product sales came from sales of
the CombHelix FSHD test carried out directly by Genomic Vision in
France, at the Timone hospital in Marseille, royalties paid by
Quest Diagnostics, which offers this test in its labs in the United
States, and sales of consumables and instruments to research
laboratories.
Over 2014 as a whole, revenue from sales totaled €3.5 million,
compared with €2.9 million in 2013.
Cash and cash equivalents
At December 31, 2014, cash and cash equivalents totaled €22.8
million, compared with €24.8 million at September 30, 2014. This
solid cash position reflects the Company’s strict management of its
expenditure within a context of buoyant development.
Erwan Martin, Genomic Vision’s VP Finance & Corporate
Development, comments:
“Our 2014 annual revenue from sales, consisting essentially of
R&D revenue, is due to the reaching of some major milestones in
our strategic collaboration with Quest Diagnostics, in line with
our commitments. Indeed, the validation of a diagnostic test for
Lynch Syndrome, a new protocol for the Genomic Morse Code and, more
recently, the installation of the new high-throughput scanner with
the protocol of the BRCA test at a Quest laboratory were all
achieved on schedule. We therefore remain confident regarding the
buoyant pursuance of our collaboration that, in 2015, should result
in the launch of the BRCA test for detecting hereditary breast and
ovarian cancer.”
Next financial press release
- 2014 full-year results, on April 30,
2015* (after market)
* Indicative date, subject to potential modifications
●●●
ABOUT GENOMIC VISION
Founded in 2004, Genomic Vision is a molecular diagnostics
company specialized in the development of diagnostic tests for
genetic diseases and cancers based on molecular combing. Using this
innovative technology that allows the direct visualization of
individual DNA molecules, Genomic Vision detects quantitative and
qualitative variations in the genome that are at the origin of
numerous serious pathologies. The Company is developing a solid
portfolio of tests that notably target breast cancer and cancer of
the colon. Since 2013, the Company has marketed the CombHeliX FSHD
test for identifying a myopathy that is difficult to detect,
Facio-scapulo-humeral dystrophy (FSHD), in the United States thanks
to a strategic alliance with Quest Diagnostics, the American leader
in diagnostic laboratory tests, and in France. Genomic Vision has
been listed on Compartment C of Euronext Paris since April
2014.
ABOUT MOLECULAR COMBING
DNA molecular combing technology considerably improves the
structural and functional analysis of DNA molecules. DNA fibers are
stretched out on glass slides, as if “combed”, and uniformly
aligned over the whole surface. It is then possible to identify
genetic anomalies by locating genes or specific sequences in a
patient’s genome using genetic markers, an approach developed by
Genomic Vision and patented under the name Genomic Morse Code. This
exploration of the entire genome at high resolution via a simple
analysis enables the direct visualization of genetic anomalies that
are undetectable by other technologies.
For further information, please go to www.genomicvision.com
Member of CAC® Mid & Small, CAC® All-Tradable and
EnterNext© PEA-PME 150 indexes
DISCLAIMER
This press release contains 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 prospectus on which the French Financial Market
Authority (AMF) granted its visa n° 14-087 on March 19, 2014 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.
Genomic VisionAaron Bensimon, +33 1 49 08 07
50Co-founder, Chairman &
CEOinvestisseurs@genomicvision.comorNewCapInvestor Relations
/ Strategic CommunicationsDušan Orešanský / Emmanuel Huynh, +33 1
44 71 94 92gv@newcap.fr
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