Formycon Q1 2024: Successful Operations and Impressive Financial Performance

• Formycon AG reported successful operating business and financial figures for Q1 2024, with group revenue amounting to €17.7 million.
• The group's EBITDA was €-5.5 million, reflecting investments in pipeline and corporate development.
• Gedeon Richter acquired a 9.1% stake in Formycon as a new strategic investor.
• Formycon's working capital increased significantly to €84.2 million, including cash equivalents of €56.9 million.
• The company reported approvals and market launches in Saudi Arabia, Canada, and Switzerland.
• In February 2024, Formycon completed a cash capital increase with Gedeon Richter, generating gross proceeds of €82.8 million.

The next important date, Press release for the quarterly financial report (as of Q1), at Formycon is on 08.05.2024.

The price of Formycon at the time of the news was 44,70EUR and was down -0,11 % compared with the previous day.
13 minutes after the article was published, the price was 44,73EUR this corresponds to a plus of +0,06 % since publication.

Formycon

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-0,11 %

+2,43 %

-19,84 %

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-27,34 %

+30,53 %

+541,30 %

+400,96 %

ISIN:DE000A1EWVY8WKN:A1EWVY

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