CENTOGENE Increases Full-Year 2020 Guidance
CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Centogene N.V. (Nasdaq: CNTG), a commercial-stage company focused on rare diseases that transforms real-world
clinical and genetic data into actionable information for patients, physicians, and pharmaceutical companies, today announced it is increasing full-year 2020 guidance and now anticipates revenues
greater than €80 million. Prior guidance had anticipated revenues of between €60 - €65 million. This update follows the further developments in our commercial Covid-testing and the continued
recovery of our core business since Q2.
Richard Stoffelen, Chief Financial Officer of CENTOGENE, said, “Our core business is recovering after the significant pandemic-induced decline in Q2. In addition, we saw a significant increase in our Covid-testing revenue in recent months. We look forward to maintaining this momentum throughout the remainder of 2020, all while helping to ensure the health and safety of our team, customers, and partners around the world.”
The Company will continue to closely monitor the outlook for the remainder of 2020.
CENTOGENE engages in diagnosis and research around rare diseases transforming real-world clinical and genetic data into actionable information for patients, physicians, and pharmaceutical
companies. Our goal is to bring rationality to treatment decisions and to accelerate the development of new orphan drugs by using our extensive rare disease knowledge, including epidemiological and
clinical data, as well as innovative biomarkers. CENTOGENE has developed a global proprietary rare disease platform based on our real-world data repository with over 3.6 billion weighted data
points from approximately 570,000 patients representing over 120 different countries as of August 31, 2020.
The Company’s platform includes epidemiologic, phenotypic, and genetic data that reflects a global population, and also a biobank of these patients’ blood samples. CENTOGENE believes this represents the only platform that comprehensively analyzes multi-level data to improve the understanding of rare hereditary diseases, which can aid in the identification of patients and improve our pharmaceutical partners’ ability to bring orphan drugs to the market. As of August 31, 2020, the Company collaborated with over 40 pharmaceutical partners covering over 45 different rare diseases.