Theradiag Announces Its Revenue for the First Half Of 2020 - Seite 2

The highly degraded context since mid-March 2020, notably with the implementation of the plan blanc emergency plan in French hospitals, disrupted activity in all regions. Nevertheless, Theradiag posted a decent performance in France with particularly satisfactory Theranostics sales of €1.0 million, up 13% compared with the first half of 2019. Activity in the United States generated revenue of €0.4 million, up 42%. In its export business, the Company maintained a highly acceptable level of activity (+10%).

The IVD (In Vitro Diagnostics) activity recorded an 18.6% fall in revenue to €2.4 million at June 30, 2020, compared with €2.9 million in the first half of 2019. This decrease was a result of the impact of the exceptional sales to former partner HOB Biotech recorded in the first half of 2019. Excluding this negative base effect, Theradiag has maintained a level of activity that is in line with its strategy despite the global economic situation.

Cash position

At June 30, 2020, Theradiag had net available cash of €1.7 million, versus €2.9 million at December 31, 2019. This cash position is in line with the Company’s roadmap despite weak second-quarter activity and late payments. Moreover, Theradiag has prepared the necessary paperwork to apply for a State-guaranteed loan.

Bertrand de Castelnau, Theradiag’s CEO, commented: “I’m particularly pleased with the work undertaken by Theradiag’s teams and their unwavering commitment during this turbulent semester. This commitment has enabled us to generate remarkable results in our Theranostics business, which is our strategic priority and is generating increasingly patent recurring performances each semester. As well as these successes in our flagship activity, we have been able to activate the necessary levers to address the diagnostics market within the framework of the battle against the Covid-19 pandemic. Our actions have led to the certification of four CE-marked tests, two of them manufactured by Theradiag. Despite this success, which allows these tests to be marketed in France and abroad, it is important to remain cautious regarding the economic impact of this milestone on our 2020 financial year. We are very closely monitoring the ongoing public health crisis we are facing, we will intensify our efforts to protect our employees and partners, and we will continue to focus on developing our sales, our partnerships and our R&D investments in order to maintain a positive momentum throughout 2020”.