Home Finance THERADIAG Posts 2021 Revenue of €11.1 Million, up 7% – Yahoo Finance

THERADIAG Posts 2021 Revenue of €11.1 Million, up 7% – Yahoo Finance

THERADIAG Posts 2021 Revenue of €11.1 Million, up 7% – Yahoo Finance

Excellent performance for Theranostics sales, up 13%
Further expansion in activity in the United States, with growth of 17%
Growth in the Company’s historical IVD activity
Cash position at December 31, 2021: €7.1 million
CROISSY-BEAUBOURG, France, January 31, 2022–(BUSINESS WIRE)–Regulatory News:
THERADIAG (Paris:ALTER) (ISIN: FR0004197747, Ticker: ALTER), a company specializing in in vitro diagnostics of autoimmune diseases and Theranostics, today reported its 2021 annual revenue and its cash position at December 31, 2021.
Bertrand de Castelnau, CEO of Theradiag, commented: "Within a health and economic context that remained hostile, in 2021 Theradiag was able to continue improving its performance indicators. The solid growth in our revenue objectifies our successful strategic refocus on our Theranostics business and the internationalization of our activities in our key geographies. Henceforth, thanks to the funds raised at the end of last year, we will concentrate on the deployment of our strategic plan that will lead to an acceleration in our growth while maintaining strict control over our costs and healthy management of our cash. Our ambition is to strengthen our global leadership position on the biotherapy monitoring market and expand our primary purpose, which is to accompany the therapy of an ever-growing number of patients around the world".
"2021 again demonstrated the resistance of Theradiag’s business model in a delicate public health context. Now having the means to achieve our ambitions, in 2022 Theradiag will be able to begin a new chapter in its history by fully benefiting from its technological lead on the very high potential biotherapy monitoring market", added Pierre Morgon, Chairman of Theradiag’s Board of Directors.
2021 revenue of €11.1 million, up 6.8%
In thousands of euros
FY 2021
FY 2020
of which: Theranostics
of which: IVD
*Figures currently being audited
Over the year to December 31, 2021, Theradiag recorded revenue of €11.1 million, versus €10.1 million in 2020, giving growth of 6.8 % in line with the strategic priorities defined by the Company prior to the Rights Issue implemented at the end of October.
On the strength of the 19 i-Track10 or equivalent analyzers installed and active around the world, Theranostics activity recorded another excellent performance with growth of 12.7% in 2021, and now accounts for 52% of Theradiag’s business.
In Vitro Diagnostics (IVD) activity recorded a slight increase of 1.2% in revenue to €5.3 million. It should be noted that in 2020, Theradiag generated sales associated with the fight against Covid of approximately €900 thousand. In 2021, this activity was marginal.
Globally, Theradiag recorded excellent performances in terms of exports and in the United States with growth of 25.9% and 17.0% respectively reflecting the clear success of its overseas partnerships, such as the one with Veracyte for the marketing of its tests in the United States. In France, activity was down by 5.9%. This slight decrease can be explained by the market’s advanced level of maturity and the negative base effect associated with Covid Ag sales in 2020.
Comfortable cash position with the financing horizon assured until end-2026
At December 31, 2021, Theradiag had a net cash position of €7.1 million, compared to €1.4 million at June 30, 2021; for the last year or so, the Company has been able to stabilize its cash position at around €2 million, excluding capital increase. Henceforth, following the Rights Issue carried out in October 2021, the Company has a financing horizon through to 2026 and thus has medium-term financial autonomy. These additional resources will allow Theradiag to implement its strategic plan whose key routes are to:
– Secure the quality and commercial supply of antibodies via the Humabdiag project developed thanks to the recent partnership with the University of Tours;
– Accelerate the internationalization of existing activities in the world’s main healthcare countries, and in particular accelerate sales in the United States;
– Develop a technological solution to ensure Near Patient Testing;
– Invest in new therapeutic fields with substantial demand and strong growth;
– Reposition and revive FIDIS technology, notably in the United States, as well as the activity covering serums used in quality control.
Reminder of the Company’s 2021 highlights
– CE marking for the new TRACKER® range i-Tracker® test kits: Vedolizumab and Ustekinumab kits on originator and biosimilar molecules;
– Signing of a contract to supply quality control reagents to Orgentec, a specialist in in vitro diagnostics, notably in autoimmunity and infectious diseases;
– Participation in Humabdiag, a large-scale research project undertake with the University of Tours and the University Hospital of Tours targeting the bioproduction of monoclonal antibodies notably for Theradiag and the entire biotherapy market;
– €5.33 million Rights Issue;
– Launch of four new i-Tracker® kits and validation of a new parameter in the United States: Golimumab and Rituximab kits.
Financial calendar:
2021 annual results, Monday March 21, 2022
Annual General Meeting, Thursday May 5, 2022
H1 2022 revenue, Monday July 18, 2022
H1 2022 results, Monday September 19, 2022
About Theradiag
Theradiag is the market leader in biotherapy monitoring. Capitalizing on its expertise in the diagnostics market, the Company has been developing, manufacturing and marketing innovative in vitro diagnostic (IVD) tests for over 30 years.
Theradiag pioneered "theranostics" testing (combining therapy with diagnosis), which measures the efficacy of biotherapy in the treatment of chronic inflammatory diseases. Going beyond mere diagnosis, Theranostics aims to help clinicians set up "customized treatment" for each patient. This method favors the individualization of treatment, evaluation of its efficacy and the prevention of drug resistance. In response to this challenge, Theradiag develops and markets the CE-marked TRACKER® range, a comprehensive solution of inestimable medical value.
The Company is based in Marne-la-Vallée, near Paris, has operations in over 70 countries and employs over 60 people. In 2021, the Company posted revenue of €11.1 million. The Theradiag share is listed on Euronext Growth Paris (ISIN: FR0004197747) and is eligible for the French PEA-PME personal equity plan.
For more information about Theradiag, please visit our website: https://www.theradiag.com/
View source version on businesswire.com: https://www.businesswire.com/news/home/20220130005004/en/
Bertrand de Castelnau
CEO/Managing Director
Tel.: +33 (0)1 64 62 10 12
Financial Communications & Investor Relations
Pierre Laurent
Quentin Massé
Tel.: +33 (0)1 44 71 94 94
Media Relations
Nicolas Mérigeau
Tel.: +33 (0)1 44 71 94 98
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