Median Technologies Announces 2021 Revenue of €20.5 Million, Up 52%, and a Strengthened Cash Position of €39 Million - Seite 2

Cash

As of December 31, 2021, cash and cash equivalents were €39 million, compared to €16 million as of December 31, 2020. The company’s cash position was strengthened in 2021, both by a €28 million capital increase on March 25, 2021, and by the exercise of 1,344,444 warrants between July 1 and September 29, 2021, for gross cash funds of over €6 million.

“In 2021, we kept our iCRO business growth momentum going. Our revenue continued to grow at a rapid pace. Median’s confirmation as a preferred vendor by one of the world’s top 3 pharmaceutical companies, along with the resumption of oncology clinical trial initiation, especially in China, increased our order backlog yet again in the fourth quarter,” said Fredrik Brag, CEO and founder of Median Technologies. “The outstanding iBiopsy Lung Cancer Screening results that we announced for the diagnostic part (CADx), and just recently for the detection part (CADe), make us optimistic for the next steps in clinical development and the regulatory steps planned for 2022,” Brag added.

Next financial publication: 2021 annual results and Q1 2022 performance:
April 26, 2021 after the close of trading

The preliminary results set forth above are based on management’s initial review of the Company’s operations for the year ended December 31, 2021 and are subject to revision based upon the Company’s year-end closing procedures and upon the completion and external audit of the Company’s year-end financial statements. Actual results may differ materially from these preliminary results as a result of the completion of year-end closing procedures, final adjustments and other developments arising between now and the time that the Company’s financial results are finalized, and such changes could be material. In addition, these preliminary results are not a comprehensive statement of the Company’s financial results for the fourth quarter or full year ended December 31, 2021 should not be viewed as a substitute for full, audited financial statements prepared in accordance with generally accepted accounting principles, and are not necessarily indicative of the Company’s results for any future period.