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2021-04-29 14:05:00

29.4.2021 14:04:59 CEST | ViroGates | Interim information

COMPANY ANNOUNCEMENT - No. 10-2021 29 April 2021

BIRKERØD, DENMARK – ViroGates A/S, a medical technology company developing blood tests for better triaging in hospitals to improve patient care and reduce healthcare costs, announces its Interim Report for the period 1 January 2021 – 31 March 2021, as approved by the company’s Board of Directors today.

In Q1, 2021, ViroGates’ revenue was TDKK 2,076, increasing by 367% compared to Q1 2020. The increase was driven by new customers and higher sales from clinically relevant products. ViroGates announced five new clinical routine customers in Q1, supported a COVID-19 clinical trial and expanded the number of validated platforms for the suPARnostic® TurbiLatex product range to include the Abbott Alinity analyzer.

The COVID-19 pandemic continued to be a challenge and an opportunity for ViroGates in Q1. Traditional sales activities continued to be delayed, but simultaneously, more hospitals showed interest in using suPAR for COVID-19 patient triage. The net impact of COVID-19 remains uncertain.

Jakob Knudsen, CEO of ViroGates, says: “We are excited to start this year with strong revenue growth and the announcement of a ground-breaking study across 42 hospitals in Greece and Italy within the important field of combatting the COVID-19 disease. Also, we are happy to have welcomed four hospitals in Greece as new clinical routine customers – this holds much promise for the remainder of the year.”

Financial results in Q1, 2021

The financial results in Q1, 2021, continued to show an increasing interest in the clinically relevant suPARnostic® products (Q1, 2020 results in brackets):

  • Revenue increased by 367% to TDKK 2,076 (TDKK 445)
  • Operating expenses decreased by -8% to TDKK -6,164 (TDKK -6,677)
  • Operating loss decreased by -28% to TDKK -4,600 (TDKK -6,433)
  • Net loss decreased by -31% to TDKK -4,274 (TDKK -6,187)
  • Cash and cash equivalents at the end of the period amounted to TDKK 23,562 (TDKK 35,724)

Business highlights in Q1, 2021

The business highlights indicate an increasing footprint in Europe:

  • Welcomed five new clinical routine customers – four hospitals in Greece and one hospital in Spain
  • Announced the initiation of the SAVE-MORE clinical trial with HISS to clinically validate suPARnostic® for guiding early anakinra treatment of COVID-19 patients across 42 hospitals
  • Obtained CE-IVD approval for suPARnostic® TurbiLatex on the Abbott Alinity platform
  • Published the Annual Report for 2020 showing growing revenue and customer base – a robust platform for the future
  • Announced a delay in the development and launch of the suPARnostic® POC+ product

This announcement is a summary and should be read in conjunction with ViroGates’ Interim Report for Q1, 2021, published on 29 April 2021. A downloadable PDF version will be available on the company’s website.

For further information, please contact:

ViroGates A/S:

CEO, Jakob Knudsen

Tel. (+45) 2226 1355, email: jk@virogates.com

Certified Advisor:

Västra Hamnen Corporate Finance

Per Lönn

Tel. (+46) 40 200 250, email: per.lonn@vhcorp.se

About ViroGates

ViroGates A/S is an international medical technology company developing and marketing blood test products under the suPARnostic® brand for better triaging in hospitals to improve patient care, reduce healthcare costs and empower clinical staff.

The company was founded in 2000 based on the discovery that suPAR was predictive of the outcome in HIV-infections and subsequently in many other disease areas. Headquartered in Denmark, ViroGates’ sales force covers the Nordics, Spain, and France, while distributors serve other markets.

ViroGates’ shares (VIRO) are listed on Nasdaq First North Growth Market Denmark. For more information, please visit www.virogates.com.

About suPAR and suPARnostic®

suPAR is the biomarker detected by ViroGates’ suPARnostic® products and is a protein in plasma, measurable in every human being. suPAR is considered a general risk status biomarker indicating disease presence, disease severity and progression, organ damage and mortality risk across disease areas such as cardiovascular diseases, kidney diseases, type 2 diabetes, cancer, etc. Strong scientific evidence from more than 600 clinical trials and studies show that the higher the level of suPAR, the worse the prognosis for the patient.

The suPARnostic® products can be used to support healthcare professionals in making clinical decisions on hospitalization or discharge of acute care patients. The increasing demands on health systems globally and tightening healthcare budgets necessitate efficiency improvements and innovative solutions in hospitals. The use of suPAR in clinical routine in emergency departments can improve patient care and reduce healthcare costs by increasing the number of discharges by 34% and reducing the average hospital length-of-stay by 6% without affecting mortality. suPARnostic® TurbiLatex is currently available on Roche Diagnostics’ cobas, instruments, Siemens ADVIA XPT instruments and the Abbott Labs Architect and Alinity instruments. ViroGates works with partners to develop solutions for other platforms.

Disclosure regulation

Prospects about the future reflect ViroGates' current expectations for future events and results. The statements are by nature inherent in risks, uncertainties and other matters that are difficult to predict or out of control. The actual results may therefore differ from the expectations expressed.