Moss, 25 August 2021: Gentian Diagnostics ASA, a fast-growing developer and
manufacturer of diagnostic tests, today announces its results for the second
quarter of 2021.
o Record total revenues of NOK 31.5 million in Q2 2021. EBITDA was NOK -0.8
million including NOK 3.5 million in costs related to the transfer of listing to
o Sales revenue was NOK 24.6 million, a 48 % growth compared to Q2 2020. Organic
growth was 65%.
o The Gentian share was successfully transferred to Oslo Børs on June 25th.
o Development of the SARS COV-2 assay is on track for launch in Q4 2021 and
recent market data confirms the need for such high throughput test.
"Gentian's strong sales growth during the second quarter is the result of
broad-based progress with commercial partners across our product portfolio, with
particularly high demand from laboratories in Europe and Asia," says Hilja
Ibert, CEO of Gentian Diagnostics.
"Going forward, our top priorities are to further develop commercial
partnerships around our established products, prove the clinical relevance of
GCAL for sepsis and COVID-19 and bring our two products in development -
SARS-COV-2 AB and NT-proBNP - successfully to market", adds Ibert.
Strategy and outlook
The growing diagnostic market puts increasing pressure on laboratories. Still,
many of the existing, clinically relevant biomarkers are only available on slow
and inefficient platforms. Gentian converts such biomarkers to the most
efficient automated, high-throughput analysers. The benefits include early
diagnostic results enabling improved treatment decisions and a 3-10x increase in
volume throughput, making Gentian's offering an attractive solution to the
increasing pressure on laboratory productivity.
Gentian's product portfolio targets several large and growing disease areas such
as infections and inflammation, kidney failure and congestive heart failure.
Four tests are established, one in market development and two in product
development. Gentian's Total Serviceable Market is USD 1.3bn (2020) with an
estimated annual growth rate of 8-9% over the next 5-7 years. Overall, Gentian
has the ambition to generate an estimated annual revenue of NOK 1 billion in 5-7
years and a long-term EBITDA margin of 40%.
Gentian's CEO Hilja Ibert and CFO Njaal Kind will present the results today at
10.00 am. The presentation will be 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 25 August 2021 at 08:00 CET.
About Gentian Diagnostics
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.