DGAP-News: Marinomed Biotech AG Reports Significant Revenue Growth for the First 9 Months 2021
Revenue increased by 12.9 % to 5.7 million in the first three quarters of 2021 (9M 2020: 5.1 million).
DGAP-News: Marinomed Biotech AG / Key word(s): 9 Month figures Marinomed Biotech AG Reports Significant Revenue Growth for the First 9 Months 2021 22.11.2021 / 07:00 The issuer is solely responsible for the content of this announcement. Marinomed Biotech AG Reports Significant Revenue Growth for the First 9 Months 2021 Conference call to be held today, 22 November 2021; 10:00 am CET / 9:00 am GMT
Korneuburg, Austria, 22 November 2021 - Marinomed Biotech AG (VSE:MARI), an Austrian science-based biotech company with globally marketed therapeutics derived from innovative proprietary technology platforms, today reported the financial results for the first nine months 2021. Revenue increased by 12.9 % to € 5.7 million in the first three quarters of 2021 (9M 2020: € 5.1 million). In addition, governmental funding for the R&D activities and other income generated another € 1.4 million, resulting in a 21.2 % increase of the total income to € 7.1 million (9M 2020: € 5.9 million). Total R&D expenses for both platforms, Carragelose and Marinosolv, amounted to € 6.1 million (9M 2020: € 3.9 million), mainly due to additional clinical studies in SARS-CoV-2. Therefore, the loss for the first nine months 2021 was at € 6.3 million and fully in line with expectations (9M 2020: € 4.8 million). "So far, 2021 has been very successful for our business. During the first nine months we continued to significantly advance the virus blocking Carragelose products. As of today, SARS-CoV-2 will remain a major public health threat, and additionally the common cold is making a strong predictable comeback. Increasing scientific evidence shows that our virus-blocker Carragelose is a safe and effective addition, along with vaccination, to controlling viral infections. Carragelose is an additional means of protection, easily available to everyone," said Dr. Andreas Grassauer, Marinomed's CEO. "After the reporting period, we finally were able to prove that we deliver on what we promised: In closing the first deal for a product from the Marinosolv platform with Luoxin Pharmaceutical, which will co-develop Budesolv for the Chinese markets, we finally reached a long-awaited milestone. Furthermore, we launched Solv4U, a new business area that makes our clinically proven Marinosolv platform available to partners from the healthcare sector. These are cornerstones on the path towards Marinomed's successful future." Highlights in Q3 2021 and after the reporting period:
Financial results Financial outlook 2021 Select financial figures for 9M 2021
The full report for the third quarter can be found on the Company's website: https://www.marinomed.com/en/investors/publications Participants may pre-register and will receive dedicated dial-in details to easily and quickly access the call: In addition, the company will also present at the Deutsches Eigenkapitalforum (EKF) from 22 to 24 November 2021 About Marinomed Biotech AG For further inquiries contact:
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22.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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