ViroGates Releases Second Quarter 2019 Results
Company announcement no. 10-2019
Birkerød, 21 August 2019
ViroGates A/S (Nasdaq First North Denmark: VIRO), who delivers blood test systems for emergency departments in hospitals, today reported financial results for the second quarter 2019 (1 April – 30 June).
Highlights in the second quarter of 2019
Financial highlights
- Revenue grew by 34% to TDKK 1,465 (TDKK 1,092 in Q2 2018)
- Net operating expenses of TDKK 5,948 (TDKK 10,333 in Q2 2018)
- Net result of TDKK -4,349 (TDKK -8,724 in Q2 2018)
- Cash position of TDKK 50,165 per 30 June 2019 (TDKK 70,533 end Q2 2018)
Operational highlights
- Amager Hospital, Denmark was announced as a new clinical routine customer.
- After the end of the reporting period, ViroGates announced that Mark Christian Hvidberg da Silva will join ViroGates as CFO. May Britt Dyvelkov will remain in the company as VP Accounting (announced 14 August).
CEO Jakob Knudsen, says in a comment: ”In the second quarter of 2019, the first tangible effects of our increased sales force activities in key markets materialised, as we increased the number of pilot users from 29 to 33 hospitals. We are confident that we will continue to engage more users and that a number of existing pilot users will be converted to clinical routine customers.”
The attached report, which is approved by the Board of Directors, is unaudited.
For further information contact:
CEO Jakob Knudsen: Tel. (+45) 2113 1336, Email: jk@virogates.com
Certified Advisor
Västra Hamnen Corporate Finance, Per Lönn: Tel. (+46) 40 200 250, Email: per.lonn@vhcorp.se
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 550 clinical trials and studies which included more than 350,000 blood samples.
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