• Revenue from activity: €0.7 million
  • Solid cash position of €20.7 million

Regulatory News:

Genomic Vision (Paris:GV) (FR0011799907 – GV), a molecular diagnostics company specialized in the development of diagnostic tests for genetic diseases and cancers based on molecular combing, today announces its revenue and cash position1 at March 31, 2015.

Revenue for the 1st quarter of 2015

In thousands of euros   Q1 2015   Q1 2014 Revenue from R&D Quest Diagnostics R&D   259   393 Product sales   106   60 Total revenue from sales   365   452 Other revenue   327   264 Total revenue from activity   692   716

In line with expectations, over the 1st quarter of 2015 Genomic Vision recorded €365 thousand in revenue from sales, consisting of payments resulting from the Company’s R&D collaboration with its US partner Quest Diagnostics that, in the absence of any major milestones during the quarter, totaled €259 thousand (compared with €393 thousand for the 1st quarter of 2014), and product sales. The latter increased to €106 thousand (compared with €60 thousand for the 1st quarter of 2014) and came from:

  • sales of the CombHelix FSHD test carried out directly by Genomic Vision at the Timone hospital in Marseille;
  • royalties paid by Quest Diagnostics, which offers this test in its laboratories in the United States; and
  • sales by Genomic Vision of consumables and instruments to research laboratories.

Once other revenue of €327 thousand corresponding to tax credits (research tax credit and innovation tax credit totaling €306 thousand) and R&D subsidies (€21 thousand) is taken into account, total revenue from activity came to €692 thousand over the 1st quarter, almost stable compared with the 1st quarter of 2014 (€716 thousand).

Cash and cash equivalents

Cash and cash equivalents totaled €20.7 million at March 31, 2015, versus €22.8 million at December 31, 2014, reflecting a similar cash burn rate to that recorded in previous quarters.

Erwan Martin, Genomic Vision’s VP Finance & Corporate Development, comments:

“Revenue from activity over the first quarter of the year was in line with expectations, with revenue from our R&D collaboration with Quest Diagnostics still accounting for over a third of total revenue and almost two thirds of revenue from sales. Product sales recorded significant growth thanks to the buoyant increase in revenue from research laboratories and sales of the CombHelix FSHD test in France and the United States. We are confident that our main milestones between now and the end of the year will be reached, notably regarding the development of the HNPCC test (Lynch Syndrome, predisposition to colorectal cancer) and the finalization, by Quest Diagnostics, of the development of the BRCA test (predisposition to breast cancer) in accordance with American norms and standards, in preparation for its commercial launch.”

Next financial publication

  • Revenue for the 1st half of 2015, on Friday July 31, 2015* (after market)

* indicative date that may be amended

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 reviewed by the Supervisory Board on May 5, 2015.

Genomic VisionAaron BensimonCo-founder, Chairman & CEOTel.: +33 1 49 08 07 50investisseurs@genomicvision.comNewCapInvestor Relations / Strategic CommunicationsDušan Orešanský / Emmanuel HuynhTel.: +33 1 44 71 94 92gv@newcap.fr

Goldfield (AMEX:GV)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024 Plus de graphiques de la Bourse Goldfield
Goldfield (AMEX:GV)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024 Plus de graphiques de la Bourse Goldfield