Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Deutsche Boerse AG  >  Epigenomics AG    ECX   DE000A11QW50

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Epigenomics : Announces 2017 Third Quarter and Nine Months Financial Results

share with twitter share with LinkedIn share with facebook
share via e-mail
11/15/2017 | 08:40am CEST

DGAP-News: Epigenomics AG / Key word(s): Quarterly / Interim Statement
Epigenomics AG Announces 2017 Third Quarter and Nine Months Financial Results

15.11.2017 / 08:35
The issuer is solely responsible for the content of this announcement.

Press release

Epigenomics AG Announces 2017 Third Quarter and Nine Months Financial Results

- Third quarter performance in line with expectations; 2017 adj. EBITDA outlook improved

- Financial position significantly strengthened through successful capital measures

- Appointment of senior industry experts adds significant expertise for future growth

Berlin (Germany) and Germantown, MD (U.S.A.), November 15, 2017 - Epigenomics AG (Frankfurt Prime Standard: ECX, OTCQX: EPGNY) today announced its financial results for the third quarter and the nine months 2017 ending September 30.

"In the third quarter, we have made significant progress in securing additional funding with gross proceeds of approximately EUR 12 million", said Greg Hamilton, CEO of Epigenomics AG. "For the remainder of the year, we are actively continuing our efforts towards Medicare reimbursement. Recent appointments of highly acknowledged industry experts add valuable expertise to Epigenomics and underscore our ambitions for future growth."

Q3/9M 2017 Financial Results

- Total Q3 2017 revenue decreased to EUR 0.3 million (Q3 2016: EUR 0.9 million) and 9M 2017 revenue was at EUR 0.9 million (9M 2016: EUR 2.4 million). In the third quarter of the previous year, our U.S. commercialization partner Polymedco had initially stocked up on inventories of Epi proColon following the product's FDA approval. This resulted in a relatively high revenue figure for the quarter.

- Adjusted for non-cash expenses related to share-based payment, EBITDA in Q3 2017 was at EUR -2.0 million (Q3 2016: EUR -2.5 million); adjusted EBITDA for 9M 2017 amounted to EUR -7.8 million (9M 2016: EUR -8.2 million). Net loss amounted to
EUR 1.1 million in Q3 2017 compared to EUR 2.3 million in Q3 2016, and EUR 7.6 million for 9M 2017 (9M 2016: EUR 10.0 million). The reduction in net loss was primarily attributable to a beneficial effect from the reversal of share-based payments expenses due to the decline in the Company's share price.

- Accordingly, net loss per share for Q3 2017 decreased to EUR -0.05 (Q3 2016: EUR -0.11) and for 9M 2017 to EUR -0.33 (9M 2016: EUR -0.50).

- Cash consumption (cash outflow from operating and investing activities) was EUR 7.3 million in 9M 2017 compared to EUR 8.8 million in 9M 2016.

- Liquid assets (including marketable securities) amounted to EUR 16.9 million at September 30, 2017 (December 31, 2016: EUR 12.3 million).

Operational highlights

- In September 2017, we issued convertible bonds with a nominal value of EUR 7.1 million to Cathay Fortune International Company Limited (CFIC). The issuance of the convertible bonds, as agreed between Epigenomics and CFIC in the Business Combination Agreement on April 26, 2017, provided a cash inflow of approximately EUR 6.5 million to the Company.

- Also in September 2017, approximately 1.3 million new shares were issued by way of private placement to institutional investors with gross proceeds of approximately EUR 5.5 million. The capital increase was fully subscribed by institutional investors from Germany and the United States.

- In a preliminary determination, the Centers of Medicare & Medicaid Services (CMS) confirmed its decision to crosswalk Epi proColon to test code 81287. At the same time, CMS implemented a new method for calculating reimbursement rates for clinical laboratory services in accordance with the Protecting Access to Medicare Act of 2014 (PAMA). The newly introduced PAMA rates imply a reimbursement rate for test code 81287 of approximately USD 125 (previously approximately USD 84). The final payment determination by CMS is expected to be announced during November 2017.

Outlook for 2017

- Revenue is expected to range between EUR 1.0 million and EUR 1.5 million in fiscal year 2017.

- Due to cost reduction efforts prior to reimbursement, adjusted EBITDA (excluding share-based payment expenses) is expected to improve to a range between EUR -10.5 million and EUR -11.5 million (previously: EUR -12.5 to EUR -14.0 million).

Further Information

The full interim statement on the financial results can be obtained from Epigenomics' website at: http://www.epigenomics.com/news-investors/financial-reports/

Conference call for analysts and investors
The Company will host a conference call and webcast at 2.30 pm CET / 8.30 am EST, today. The presentation can be followed on the Company's website.

The dial-in numbers for the conference call are:

Germany: +49 30 232531366
UK: +44 203 7887007
USA: +1 312 4799419

A transcript of the conference call will be provided on Epigenomics' website subsequently: http://www.epigenomics.com/news-investors/financial-reports/.

About Epigenomics

Epigenomics is a molecular diagnostics company focused on blood-based detection of cancers using its proprietary DNA methylation biomarker technology. The company develops and commercializes diagnostic products across multiple cancer indications with high medical need. Epigenomics' lead product, Epi proColon, is a blood-based screening test for the detection of colorectal cancer. Epi proColon has received approval from the U.S. Food and Drug Administration (FDA) and is currently marketed in the United States, Europe, and China and selected other countries. Epigenomics' second product, Epi proLung(R), is in development as a blood-based test for lung cancer detection.

For more information, visit www.epigenomics.com.

Epigenomics AG, Investor Relations, Peter Vogt, Geneststrasse 5, 10829 Berlin, Tel +49 (0) 30 24345 386, Fax +49 (0) 30 24345 555, E-Mail: [email protected]

Forward-Looking Statements

This communication expressly or implicitly contains certain forward-looking statements concerning Epigenomics AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Epigenomics AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Epigenomics AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.


15.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Epigenomics AG
Geneststraße 5
10829 Berlin
Phone: +49 30 24345-0
Fax: +49 30 24345-555
E-mail: [email protected]
Internet: www.epigenomics.com
ISIN: DE000A11QW50
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

End of News DGAP News Service

629375  15.11.2017 


© EQS 2017
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on EPIGENOMICS AG
04/20EPIGENOMICS AG : Announcement of the Convening of the General Meeting in Berlin..
04/19EPIGENOMICS AG : Blood test shows promise in the detection of liver cancer
04/17EPIGENOMICS AG : Notice of Loss pursuant to § 92 par. 1 AktG
04/17EPIGENOMICS AG : Notice of Loss pursuant to § 92 par. 1 AktG
03/23EPIGENOMICS : Reports Results for Financial Year 2017
03/20EPIGENOMICS AG : Preliminary announcement of the publication of financial report..
03/08EPIGENOMICS AG : U.S. Senators Capito and Heinrich Introduce Bi-Partisan Colorec..
03/08EPIGENOMICS AG : U.S. Senators Capito and Heinrich Introduce Bi-Partisan Colorec..
02/22EPIGENOMICS : Mark Pettus MD to Present on Epigenomics, Chronic Stress and Physi..
02/21EPIGENOMICS : Mark Pettus MD to Present on Epigenomics, Chronic Stress and Physi..
More news
News from SeekingAlpha
03/27Epigenomics AG 2017 Q4 - Results - Earnings Call Slides 
03/23Epigenomics' (EPGNF) CEO Gregory Hamilton on Q4 2017 Results - Earnings Call .. 
03/23Epigenomics reports FY results 
2017Epigenomics AG 2017 Q3 - Results - Earnings Call Slides 
2017Epigenomics' (EPGNF) CEO Gregory Hamilton on Q3 2017 Results - Earnings Call .. 
Financials (€)
Sales 2018 3,54 M
EBIT 2018 -12,9 M
Net income 2018 -11,7 M
Finance 2018 54,8 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 10,1x
EV / Sales 2019 1,31x
Capitalization 90,4 M
Duration : Period :
Epigenomics AG Technical Analysis Chart | ECX | DE000A11QW50 | 4-Traders
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 6,01 €
Spread / Average Target 59%
EPS Revisions
Gregory K. Hamilton Chief Executive Officer
Jorge A. Garces President & Chief Scientific Officer
Heino von Prondzynski Chairman-Supervisory Board
Günther Reiter Vice Chairman-Supervisory Board
Ann Clare Kessler Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
SEEGENE INC--.--%875