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Epigenomics AG Reports Financial Results for the First Quarter of 2022

DGAP-News: Epigenomics AG / Key word(s): Quarterly / Interim Statement/Quarter Results Epigenomics AG Reports Financial Results for the First Quarter of 2022 11.05.2022 / 08:00 The issuer is solely responsible for the content of this announcement. Epigenomics AG Reports Financial Results for the First Quarter of 2022

Berlin (Germany) and San Diego, CA (U.S.A.), May 11, 2022 - Epigenomics AG (FSE: ECX, OTCQX: EPGNY, the "Company") today reported financial results (IFRS, unaudited) for the first three months of 2022.

Financial key figures

• Revenues in the first quarter 2022 increased slightly from EUR 106 thousand to EUR 115 thousand compared to the prior-year period.
• R&D costs increased from EUR 737 thousand in the first quarter 2021 to EUR 1,401 thousand in Q1 2022 to support the advancement of Epi proColon “Next-Gen”. Additionally, short-time work at the Berlin site was terminated in mid-September 2021 and additional personnel were recruited in the U.S.A. for the "Next-Gen" development and study.
• Selling and administrative expenses increased from EUR 1,601 thousand to EUR 2,015 thousand, mainly due to U.S. market studies.
• EBITDA (before share-based payment expenses) amounted to EUR -2,574 thousand in the reporting period, compared with EUR -985 thousand in the same period of the previous year.
• The net loss for the period was EUR -2,657 thousand (Q1 2021: EUR -1,201 thousand); the loss per share decreased from EUR 0.20 to EUR 0.17 compared to the same period of the previous year.
• Cash consumption increased to EUR 3,408 thousand in the first quarter of 2022 (Q1 2021: EUR 2,386 thousand).
• As of March 31, 2022, the Company had cash and cash equivalents of EUR 20,039 thousand (December 31, 2021: EUR 23,049 thousand).

Operational developments

• During the 2022 conversion windows for the mandatory convertible bonds issued in January 2021 and September 2021, bonds were converted into 817,564 new shares (ISIN DE000A3H2184). Accordingly, the number of shares outstanding increased from 15,539,737 to 16,357,301 no-par value registered shares of the Company. The Company’s share capital increased accordingly to EUR 16,357,301.00.
• The Company continues to make progress on the “Next-Gen” development and clinical trial. The Company is on-track to initiate the trial this summer and publish preliminary assay performance data this year.

“We are very pleased with our progress on Epi proColon “Next-Gen” and remain on-track to achieve our development and trial goals for this year”, said Greg Hamilton, CEO of Epigenomics. “We are optimistic that the performance of “Next-Gen” will result in a significant market opportunity in the years to come.”