IntegraGen Reports €5.6m in Revenues for H1 2023 Representing 13% Decrease Compared to H1 2022 and a Cash Position of €4.3m
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Regulatory News:
IntegraGen (FR0010908723 – ALINT), an OncoDNA Group company specializing in the decryption of the human genome which performs interpretable genomic analyzes for academic and private laboratories and develops diagnostic tools for oncology, announced today its unaudited revenue figures for the first half of 2023.
The first half of 2023 unaudited revenue amount to €5,628k, representing a decrease of 13% compared to the first half of 2022. This decrease mainly reflects unfavorable base effect with H1 2022, which had benefited from strong activity on the microbiology sequencing platform operated on behalf of a third parties in response to the Covid-19 pandemic. Excluding revenues from this platform, revenues would have risen by 6% over the period. This amount does not include the recharge of personnel costs to the parent company.
Sequencing activities for R&D are in line with those recorded in H1 2022. Several major projects were carried out on the company's Évry platform. Clinical research activities in oncology continue to grow, as do other outsourced activities.
As of the end of June 2023, the company’s cash position was €4,285k, which represents a slight decrease of €0.2m compared with the cash position of December 31, 2022. The position includes a state guaranteed loan (Prêt Garanti par l’État, PGE) for an outstanding amount of €1,317 k obtained in 2020 in response to the pandemic. The change over the past six months is essentially due to the reimbursement of this loan.
With a stable order book at the end of June, growth prospects remain established on the basis of current sales dynamics, multi-year contracts in place and revenue synergies activated within the OncoDNA Group.
Bernard Courtieu, IntegraGen CEO, said “In this first year without the benefit of the exceptional requirements linked to COVID-19, the 3% increase in IntegraGen's business activity, adjusted for this unfavorable base effect, demonstrates the robustness of our business model, as well as the strategic relevance of developing our portfolio of oncology sequencing offerings. This is what we are doing with conviction in 2023 through the deployment of solutions to support the development of oncology molecules based on the targeting and monitoring of patients in clinical trials. This innovative, high-potential initiative will enable us to exploit new sources of growth in synergy with the OncoDNA Group since the merger in 2021.”.
The financial results for H1 of 2023 will be published on October 20th, 2023.
About INTEGRAGEN
IntegraGen is an OncoDNA Group company specializing in the genomics of cancer and rare genetic diseases. Backed by highly competent and qualified teams, IntegraGen is a leading player in DNA sequencing services and genomic data interpretation software. The company runs one of the largest NGS labs in France and operates for research institutes of excellence. As part of OncoDNA Group, IntegraGen leverages the power of next generation sequencing with the mission of delivering the promise of precision medicine to patients. IntegraGen has about 55 employees and generated €12,6 millions of turnover in 2022. Based in France, IntegraGen is part of the Belgian OncoDNA Group present in Spain, UK, Germany and works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of latestage solid tumors and accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN: FR0010908723 – Mnemo: ALINT – Eligible PEA- PME).
For further information, visit www.integragen.com and connect with us on LinkedIn or Twitter.
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