ViroGates Releases Second Quarter 2018 Financial Results
Company announcement no. 4-2018
Birkerød, 24 July 2018
ViroGates Releases Second Quarter 2018 Financial Results
ViroGates A/S (Nasdaq First North Denmark: VIRO), who delivers blood test systems for the Emergency Departments in hospitals, today reported financial results for the second quarter 2018 (1 April – 30 June 2018). The report, which is approved by the Board of Directors, is unaudited and has the following main points:
- Revenue increased 185% compared to the same period last year to DKK 1,092 mill.
- ViroGates entered agreements with two new hospitals regarding the testing of suPARnostic® Quick Triage
- At the end of the quarter, 19 hospitals in 5 countries were testing suPARnostic®
- In June, the Company was listed on the Nasdaq First North stock exchange and received DKK 75,000 mill. (gross) which will be used to accelerate the commercial activities and strengthen the product development, clinical documentation and global patents.
- On the back of the IPO, we have initiated the strengthening of our commercial organization and our commercial activities
- The product suPARnostic® Turbilatex is on track for market introduction in Q3 2018
CEO Jakob Knudsen, says in a comment: ”Q2 offered great commercial and strategic progress for ViroGates. The 19 hospitals that are testing our products are progressing well, and several of the hospitals are now evaluating results from their initial use of the products. In addition, we see that new sales and marketing activities generate growing interest from other hospitals to test our products in their daily clinical practice.”
For further information contact:
CEO Jakob Knudsen
Tel. (+45) 2113 1336, Email:
ViroGates A/S
CVR-nr. 25734033
Blokken 45, DK-340 Birkerød
Certified Advisor
Västra Hamnen Corporate Finance
Per Lönn
Tel. (+46) 40 200 250, Email:
Financial calendar
Interim Report Q3 2018 24 October 2018
Annual Report 2018 27 March 2019
Annual General Meeting 25 April 2019
About ViroGates
ViroGates is an international Medtech company headquartered in Denmark. ViroGates develops and sells prognostic products to the healthcare sector. The products are used in hospital emergency services, in particular to make a clinical decision on hospitalization or discharge of emergency patients, which can lead to better clinical decisions, faster discharge and optimization of healthcare resources. The products can also be used for the prognosis of lifestyle-related diseases such as cardiovascular disease, type 2 diabetes, cancer, etc. The ViroGates test suPARnostic® measures the suPAR (Soluble urokinase Plasminogen Activator Receptor) protein in the bloodstream, and with the suPARnostic® Quick Triage test, hospital staff will get answers in just 20 minutes. The prognostic value of suPARnostic® is validated by more than 500 clinical trials and studies which included more than 300,000 blood samples.
Forward-looking statements
Prospects about the future reflect ViroGates' current expectations for future events and results. The statements are by nature inherent in risks, uncertainties and other matters that are difficult to predict or out of control. The actual results may therefore differ from the expectations expressed. See also the description of risk factors in the prospectus, June 4, 2018.
Attachment
