EVRY, France--(BUSINESS WIRE)--Regulatory News:
IntegraGen (Paris:ALINT) (FR0010908723 – ALINT – Eligible PEA PME), a company specializing in decoding the human genome and delivering relevant and easily interpretable analyzes for academic and private laboratories, today announced its revenues for the first half of 2016. Company financial results for the first half of 2016 were reviewed during a Board of Directors meeting held on September 29, 2016.
|(in thousand €)||
|Total revenues||3,034||2,678||+ 13%|
|30 June 2016||31 Dec 2015|
|Cash position (in thousand €)||3,780||5,018||(23%)|
Bernard Courtieu, Chief Executive Officer of IntegraGen stated:
”These solid financial and operational results confirm our strategy focused on genomics and the development of molecular diagnostic tools. Our Genomic Services business has grown by 10% compared to the same time period in 2015 demonstrating our ability to maintain organic growth while also attracting new prestigious partners for sequencing activities such as the Greater Paris University hospital (AP-HP), a partnership that will provide opportunity for further growth over the next few years. Development efforts for our miR-31-3p biomarker have also reached a very significant milestone with the presentation of the results from the analysis of new clinical trial data at the two largest cancer meetings held in the U.S. and Europe. The very positive results we presented will support IntegraGen’s effort to launch a miR-31-3p diagnostic test in both Europe and in the United States”.
- Profit and loss statement
Sales for the first half of 2016 reached 2,880 thousand euros compared to 2,624 thousand euros in H1 2015. After inclusion of other revenues and variation of depreciation and provisions, total revenues amount to 3,034 thousand euros. This compares to 2,679 thousand euros during H1 2015, an increase of 13%.
Operational charges amounted to 4,186 thousand euros, a limited increase of 4% compared to H1 2015 demonstrating cost containment, primarily due to a significant reduction in external charges apart from reagents and personal costs.
Operational results were a loss of 1,152 thousand euros. This compares to a loss of 1,343 thousand euros in H1 2015, an improvement of 14%.
Financial results were a benefit of 52 thousand euros which was related to a gain on currency exchange over the time period covered. Exceptional results were a loss of 76 thousand euros. This was related to the sale and acquisition of stock though a liquidity contract. Last year, the exceptional result was a gain of 357 thousand euros, due to not yet amortized Coface allowances.
After inclusion of the financial and exceptional results, and an income tax credit, the net result over the first six months of 2016 was a loss of 1,028 thousand euros compared to a loss of 872 thousand euros in H1 2015.
- Balance sheet
Net cash as of June 30, 2016 was 3,780 thousand euros. This compares to a cash balance of 5,018 thousand euros as of December 31, 2015. Cash consumption remained stable at 1,238 thousand euros compared to 1,187 thousand euros over the comparable time period in 2015.
- Genomic Services
Revenues of genomic services amounted to 2.8 M€, an increase of 10% compared to the same time period in 2015.This increase was primarily due to “clinical research activities” realized in IntegraGen’s laboratory located in Villejuif, activities realized for the Institut. Pasteur, and to the value added services of the Genomic Consulting (GeCo) business line launched in 2015.
Growth activities remained solid during the first half of 2016 including a new partnership with the Greater Paris University Hospital announced on June 30, 2016. This partnership again confirms IntegraGen’s ability to develop new clusters of business in order to continue the growth it services business.
Results from an analysis of data from the FIRE-3 clinical trial were presented during a plenary session at the 2016 ASCO meeting held this past June and will also be presented at the 2016 ESMO Congress being held in early October. This exciting data further confirms the predictivity of IntegraGen’s proprietary miR-31-3p biomarker related to anti-EGFR treatment efficacy in patients with metastatic colorectal cancer. These results demonstrate that the expression level of IntegraGen’s miR-31-3p microRNA biomarker enables the identification of patients who will have increased overall survival and treatment response from first line anti-EGFR therapy versus the use of anti-VEGF therapy, with a more than one year increase in median overall survival. This data demonstrating the significant clinical benefit of miR-31-3p testing will support IntegraGen’s plan to commercially launch a test based on this biomarker in 2017.
IntegraGen is a company specializing in deciphering the human genome and producing relevant and easily interpretable data for academic and private laboratories. IntegraGen’s oncology efforts provide researchers and clinicians with sophisticated tools for analysis and therapeutic individualization of treatment approaches allowing them to tailor therapy to the genetic profiles of patients. As of December 31, 2015, IntegraGen had 37 employees and had generated revenue of €5.6 million in 2015. Based in Evry Genopole, IntegraGen also has an U.S. office in Cambridge, Massachusetts. IntegraGen is listed on Alternext of Euronext Paris (ISIN: FR0010908723 - Ticker: ALINT - PEA-SME).
For more information on IntegraGen visit www.integragen.com.
Income Statement - INTEGRAGEN SA
|In K€||H1 2016||H1 2015||Var. %|
|Genomic sales||2 880||2 624||+10%|
|Subsidies and other revenues||154||55||ns|
|Total Revenues||3 034||2 679||+13%|
|Operating costs||(4 186)||(4 022)||(4%)|
|Operating profit||(1 152)||(1 343)||+14%|
|Net result||(1 028)||(872)||(18%)|
BALANCE SHEET - INTEGRAGEN SA
|In K€||Jun 30, 2016||Dec 31, 2015|
|Long-Term Assets||1 234||1 271|
|Accounts Receivable||1 406||1 393|
|Cash||3 780||5 018|
|Current Assets||6 155||7 345|
|TOTAL ASSETS||7 393||8 620|
|In K€||Jun 30, 2016||Dec 31, 2015|
|Shareholders’ Equity||1 905||2 933|
|Other Equity||1 492||1 592|
|Notes payable to banks||0||0|
|Accounts Payable||1 482||2 469|
|Other short term debts||1 978||1 040|
|TOTAL LIABILITIES||7 393||8 620|