Earnings Release • Feb 15, 2022
Earnings Release
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GENOMICS | GENETICS | R&D | DIAGNOSTIC TESTS
Bagneux (France) - Genomic Vision (FR0011799907 – 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, 2021 1 .
| FY | th quarter 4 |
|||||
|---|---|---|---|---|---|---|
| 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:
1 Unaudited data
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:
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:
• Full year results 2021: Thursday, April 21, 2022
* Indicative date, subject to change. Publication will take place after the close of the Euronext market.
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
Genomic Vision Dominique Remy-Renou CEO Tel.: +33 1 49 08 07 51 [email protected]
Ulysse Communication Press Relations Bruno Arabian Tel.: +33 1 42 68 29 70 barabian@ulysse-
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NewCap Investor Relations & Strategic Communications Tel.: +33 1 44 71 94 94 [email protected]
Member of the CAC® Mid & Small and CAC® All-Tradable indexes
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.
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