Epigenomics AG Unveils Fiscal Year 2023 Financial Results

• Epigenomics AG published its financial results for fiscal year 2023, reporting a decrease in revenue to EUR 0.3 million compared to EUR 0.9 million in the previous year due to the discontinuation of the distribution of Epi proColon as part of the restructuring process.
• The company initiated extensive restructuring measures in February 2023 due to lack of necessary financing for the further development of the Epi proColon “Next-Gen” test and deteriorated conditions for risk capital on the financial markets.
• CEO Greg Hamilton and CSO Andrew Lukowiak resigned from their positions in connection with the restructuring, and the Chairman of the Supervisory Board Heino von Prondzynski stepped down for health reasons.
• In July 2023, Epigenomics AG sold substantially all of its assets to New Day Diagnostics LLC, after which it operates as a holding company focused on managing its own assets, acquiring, holding and selling investments in companies in Germany and abroad, particularly in the field of minimally invasive blood tests for cancer detection.
• The company's overall assessment of the fiscal year 2023 is positive, as it averted an imminent threat to its continued existence, generated liquidity, and has the opportunity to continue to benefit from the further commercialization of Epi proColon and the Epi proColon “Next-Gen” technology via New Day Diagnostics LLC.
• For the full year 2024, Epigenomics AG expects a net loss within the range of EUR -0.8 million to EUR -1.2 million and cash consumption of between EUR -1.3 million and EUR -1.7 million.

Epigenomics

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+3,16 %

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-8,68 %

+148,85 %

+20,73 %

-89,59 %

-96,23 %

-83,16 %

ISIN:DE000A37FT41WKN:A37FT4

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