Genomic Vision: Financial Information for the First Quarter of 2020

  • Revenue from sales up +11.5%
  • Reduced and well-controlled cash burn

BAGNEUX, France--()--Regulatory News:

Genomic Vision (Paris:GV) (FR0011799907 – GV), a biotechnology company that develops tools and services dedicated to the analysis and control of changes in the genome, today announced its revenue and cash position at March 31, 2020.

Q1 2020 revenue

In € thousands

Q1 2020

Q1 2019

Sales of products

334

296

Sales of services

218

199

Total revenue from sales

552

495

Other revenue

121

218

Total revenue from activity

673

713

Revenue from sales totaled €552 thousand in the first quarter of 2020, up 11.5% compared to the first quarter of 2019. Sales of products notably include the sale of a platform to the Leibnitz Institute on Aging - Fritz Lipmann Institute (FLI) in Germany.

Total revenue from activity, once other revenue is taken into account, was down 5.9% in the first quarter of 2020 compared to the same quarter of 2019. Other revenue, which totaled €121 thousand, mainly corresponds to Research Tax Credit, which was lower than last year as a result of the restructuring plan that led to a reduction in the R&D headcount. Moreover, contrary to 2019, no subsidies were booked in the first quarter of 2020.

Financial structure at March 31, 2020

Genomic Vision had cash and cash equivalents of €1.2 million at March 31, 2020, versus €1.1 million at December 31, 2019. This improvement takes into account the drawdown of the third tranche of €1 million within the framework of the ABSA (shares with equity warrants attached) equity financing program set up with Winance in March 2019. Cash burn, excluding capital increase, was €0.9 million in the first quarter of 2020, reflecting good control over the Company’s spending and working capital requirements.

As announced in its press release of May 18, 2020, the Company completed the drawdown of the fourth and final tranche of the equity financing line and its partner, Winance, also exercised the warrants associated with the third tranche. The Company has thus strengthened its cash position and shareholders' equity by €1.9 million, and now has the necessary resources to develop its activities over the remainder of the year.

Impact of the Covid-19 crisis

The global economic slowdown associated with the lockdown has also affected Genomic Vision’s main clients and prospects. It will probably have a significant impact on revenue over the coming quarters, although this should not jeopardize the financial prospects mentioned above, given the good control of cash burn.

Upcoming financial publications

  • Shareholders’ Meeting: Friday, July 24, 2020
  • H1 2020 results: Tuesday, September 29, 2020
  • Q3 2020 revenue: Thursday, October 29, 2020

***

ABOUT GENOMIC VISION

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, the Company has approximately 30 employees. 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

***

Member of the CAC® Mid & Small and CAC® All-Tradable indexes

FORWARD LOOKING STATEMENT

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 reference document dated March 29, 2019 filed with the AMF under reference number R19-004, 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.

Contacts

Genomic Vision
Dominique Rémy-Renou
CEO
Tel.: +33 1 49 08 07 51
investisseurs@genomicvision.com

Ulysse Communication
Press Relations
Bruno Arabian
Tel.: +33 1 42 68 29 70
barabian@ulysse-communication.com

NewCap
Investor Relations & Strategic Communications
Tel.: +33 1 44 71 94 94
gv@newcap.eu

Contacts

Genomic Vision
Dominique Rémy-Renou
CEO
Tel.: +33 1 49 08 07 51
investisseurs@genomicvision.com

Ulysse Communication
Press Relations
Bruno Arabian
Tel.: +33 1 42 68 29 70
barabian@ulysse-communication.com

NewCap
Investor Relations & Strategic Communications
Tel.: +33 1 44 71 94 94
gv@newcap.eu