Moss, 17 February 2021
Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic
tests, today announced its results for the fourth quarter and full year 2021.
o Total operating revenue of NOK 26.2 million in Q4 2021, up 10% from Q4
2020. EBITDA of NOK -8.5 million, of which NOK -4.4 million related to
implementation of new ERP system.
o Sales revenue of NOK 21.7 million, +26% from Q4 2020, with organic growth at
o Finalised negotiations with Siemens Healthineers for commercial roll-out of
GCAL®, with contract signed in Q1 2022
o Completed development of the SARS CoV-2 assay, with launch planned during Q1
o NT-proBNP remains in optimization and timing remains uncertain.
Gentian achieved 31% sales growth to NOK 83.1 million for the full year 2021,
with organic sales growth at 43%.
"We see continued strong growth for our established portfolio, particularly for
Cystatin C and fCAL®turbo. Sales are being driven by increased adoption of
Cystatin C as a routine marker for chronic kidney disease, and by strong demand
in China and South Korea. We are also expanding our commercial footprint
including third party sales in Norway, Finland and Iceland," says CEO Hilja
Ibert of Gentian Diagnostics.
The company sees continued double-digit sales growth for the established product
portfolio also going forward and expects to see significant sales growth for
"The global distribution agreement signed with Siemens Healthineers earlier this
year will make our innovative GCAL® assay readily available for a larger patient
group," adds Ibert. Launch of GCAL® on Simens Healthineers platforms is
scheduled for the first half 2022.
The company also plans for a launch of its SARS Cov-2 assay during the first
quarter of 2022, following completion of development late in 2021.
As previously announced, the optimisation of NT-proBNP has been more complex
that first assumed. While the company has made progress with particle coating
and stability and show reproducible results in a controlled environment, there
are remaining challenges with interference between the NT-proBNP molecule in
clinical plasma. Work is ongoing to reveal and remove the interference source.
The timing of the NT-proBNP project remains uncertain, and the company will not
communicate a revised timeline until the optimisation phase has been completed.
For more information please find enclosed the Q4 report and presentation.
Gentian's CEO Hilja Ibert and CFO Njaal Kind will present the results today at
10:00 CET, followed by a Q&A session. Join the webcast and submit questions via
the following link:
The webcast will be available on the company's IR website after the
Njaal Kind, CFO and COO
+47 919 06 525 (mobile)
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 in the Norwegian Securities Trading Act.
This stock exchange announcement was published by Njaal Kind, CFO at Gentian
Diagnostics ASA, on 17 February 2022 at 08:00 CET.
Gentian Diagnostics (OSE: GENT), founded in 2001, develops and manufactures
high-quality, in vitro diagnostic reagents. Gentian's expertise and focus lies
within immunochemistry, specifically infections, inflammations, kidney failures
and congestive heart failures. By converting existing and clinically relevant
biomarkers to the most efficient automated, high-throughput analysers, the
company contributes to saving costs and protecting life. Gentian is based in
Moss, Norway, serving the global human and veterinary diagnostics markets
through sales and representative offices in Sweden, USA and China. For more
information, please visit www.gentian.com.