Nanoform Finland Plc, Interim Report January - September 2020, November 27th, 2020 at 08 00 a.m. Finnish time
HELSINKI, Nov. 27, 2020 /PRNewswire/ -- Strong momentum continues: first GMP campaign initiated, first dosing in humans to start before year-end, all near-term business targets set out in IPO to be achieved ahead of schedule, new global major pharma client signed, two new PoC projects started, one more non-GMP line commissioned and a new near-term business target introduced: "First Biologics PoC project in 2021".
7-9/2020 key financials:
- Revenue was EUR 159 thousand, during 7-9/2019 there were no revenues.
- The gross profit and margin came in at EUR 101 thousand and 63%, during 7-9/2019 the gross profit was negative.
- The operating loss was EUR -3.8 million (operating loss was EUR -2.1 million in 7-9/2019).
- The loss for the period was EUR -4.2 million (EUR -2.2 million in 7-9/2019).
- Basic EPS was EUR -0.06 (EUR -0.05).
- The number of employees grew to 68 at the end of 7-9/2020 (34 employees at the end of 7-9/2019).
- Cash position was EUR 66.6 million on September 30, 2020 (EUR 10.3m on September 30, 2019).
1-9/2020 key financials:
- Revenue was EUR 501 thousand and stemmed from nine different customer projects. In 1-9/2019 there were no revenues.
- The gross profit and margin came in at EUR 363 thousand and 72%, respectively. In 1-9/2019 the gross profit was EUR -182 thousand.
- The operating loss and the loss for the period were EUR -14.8 million and EUR -15.5 million, respectively. In 1-9/2019 the operating loss and the loss for the period were EUR -4.7 million and EUR -5.0 million, respectively.
- Basic EPS was EUR -0.29 (EUR -0.12).
- EUR 79.9 million (gross) was raised in the IPO.
Significant events during 1-9/2020
- In January Nanoform USA Inc. (100% owned subsidiary in the US) was established.
- In March Nanoform signed two new agreements, one with a global major pharma company and one with Orion Corporation, a repeat customer.
- In March two new non-GMP lines were commissioned.
- On April 7, at the AGM, Miguel Calado was appointed chairman of the Board of Directors, after being vice chairman for a year.
- In April Nanoform was awarded Good Manufacturing Practices (GMP) status by the Finnish Medicines Agency, FIMEA.
-In April the Company's form was changed to a public limited liability company and the share capital was increased to EUR 80 thousand.