- 2019 revenue up 10.5% for Theranostics and up 6% for IVD
- Excellent performance for Theranostics, particularly in France, with 19% growth
- 11% overall growth in sales of LISA TRACKER® kits for routine use
- Cash position at December 31, 2019: €2.9 million
Theradiag will hold a conference call (in French only) today at 6.30pm. To take part, please dial +33(0)1 70 71 01 59 followed by the participant PIN code 85460157#
Croissy-Beaubourg, January 30, 2020, 5.45pm CET – THERADIAG (ISIN: FR0004197747, Ticker: ALTER), a company specializing in in vitro diagnostics of autoimmune diseases and Theranostics, today reported its 2019 full-year consolidated revenue and its cash position as at December 31, 2019, figures which are currently being audited.
Consolidated 2019 revenue of €9.6 million
Theradiag posted 2019 revenue of €9.6 million, up 8.3% from €8.9 million in 2018, in line with the company’s strategic priorities.
The Theranostics business posted strong growth of 10.5%, driven by sales of LISA TRACKER® kits in routine use, which now account for the company’s recurring business in this segment. Sales of these kits reached a new milestone by generating total 2019 revenue of €4.3 million, up from €3.9 million in 2018. In the future, the Theranostics activity will be equivalent to this recurring business of kits sales, which is now firmly in place, therefore the company will no longer report on this KPI element separately.
In France, where the model is now well in place and rooted, Theranostics sales were highly satisfying, with growth reported up 19%.
In the USA, Theradiag ended a transitional year reflecting the withdrawal of its former partner in the region. The gradual transfer to new partner HalioDX is expected to be completed by the end of Q1 2020.
In its export business, the firm maintained a robust level, particularly in Spain and the United Kingdom, two strategic countries.
The IVD activity (in vitro diagnostics) posted 2019 revenue of €5.2 million, up 6%. This growth includes considerable non-recurring sales of instrumentation in the first half. Excluding this non-recurring item, IVD sales were down slightly, as expected. In this historical business, and in addition to the core business in autoimmunity, Theradiag is pursuing a niche specialization strategy, such as in genetics and male fertility.
At December 31, 2019, net cash stood at €2.9 million, compared to €3.4 million at December 31, 2018 and €3.2 million at June 30, 2019.
Theradiag CEO Bertrand de Castelnau said: “Theradiag and all the teams made great progress in 2019: new products, new partners, new markets. We’ve pursued our roadmap with the aim of boosting growth in our strategic priority markets, without compromising the investments needed for Theradiag’s future. Our priority has been to restructure our business mix and setting up milestones for our internationalization, in segments with greater potential for profitability. We’re staying on course to gradually improve our financial performance indicators.”
Pierre Morgon, Chairman of Theradiag’s Board of Directors, added: “This year is definitely pivotal. The positive trend in total sales growth is showing we are heading in the right direction. The partnership strategy centered on Theranostics is being rolled-out gradually. We’ve had great successes this year and remain committed to innovation, one of the key drivers of our success.”
- Partnership with three strategic distributors in Asia, December 2019
- CE marking for the new i-Track10 automated analyzer for biotherapy monitoring, November 2019
- Strategic agreement signed with PredictImmune for selling PredictSURE IBD™ in French-speaking countries in Europe, October 2019
- Agreement with HalioDX signed as part of its US development, May 2019
- Development and distribution agreement signed with Immunodiagnostic Systems (IDS) for access to the latest-generation IDS-i10® automated analyzer, April 2019
- End of legal dispute with HOB Biotech, April 2019
- 2019 Full-year results, March 18, 2020 after market close
- Annual General meeting, May 14, 2020
Upcoming events Theradiag will attend:
- February 12-15, 2020: 15th ECCO (European Crohn’s and Colitis Organisation) Congress, Vienna, Austria
- March 5-6, 2020: Biomed-J 2020 (Young Medical Biologists’ Association), Paris
- March 6-7, 2020: GETAID Seminar (Therapeutic Study Group for Inflammatory Digestive Tract Diseases), Paris
- March 26-29, 2020: JFHOD congress (Hepato-gastroenterology and Digestive Oncology), Paris.
Capitalizing on its expertise in the distribution, development and manufacturing of in vitro diagnostic tests, Theradiag innovates and develops theranostics tests (combining treatment and diagnosis) that measure the efficiency of biotherapies in the treatment of autoimmune diseases and cancer. Theradiag is thus participating in the development of customized treatment, which favors the individualization of treatments, the evaluation of their efficacy and the prevention of drug resistance. Theradiag notably markets the Lisa Tracker® range (CE marked), which is a comprehensive multiparameter theranostic solution for patients with autoimmune diseases treated with biotherapies. The Company is based in Marne-la-Vallée, near Paris, and has over 60 employees.
For more information about Theradiag, please visit our website: www.theradiag.com
Bertrand de Castelnau
Tel.: +33 (0)1 64 62 10 12
Financial Communications & Investor Relations
Tel.: +33 (0)1 44 71 94 94
Tel.: +33 (0)1 44 71 94 98