- Revenue from activity +12% in Q1 2023 to €435 thousands
- Sales of products and services +13% in Q1 2023 to €321
thousands
- The Company is well funded for 2023
Regulatory News:
Genomic Vision (FR0011799907 – GV, – the “Company”), a
Euronext-listed biotechnology company that develops products and
services for the highly accurate characterization of DNA sequences,
today announced its revenue and cash position for the first quarter
ended on March 31, 20231.
Q1 2023 revenue
In € thousands –IFRS
standards
Q1 2023
Q1 2022
∆%
Total revenue from
sales
321
284
+13%
Other revenue
113
104
+9%
Total revenue from
activity
435
389
+12%
Total revenue from activities reached €435 thousand in
the first quarter ending March 31st, 2023, reflecting a 12%
increase compared to the same period in the previous year. The
revenue comprised:
- sales of products and services of €321 thousands, up 13%
compared with 2022. This is explained by good on-going sales and
teams restructuring.
- other revenue of €113 thousands during the first quarter
ended March 31st, 2023, related to a Research Tax Credit.
Over the course of the period, Genomic Vision has continued the
implementation of its strategic plan. A detailed presentation of
the business and the on-going projects can be found in the
Universal Registration Documentation 2022, which was published on
April 28th, 2022, and is accessible on Genomic Vision’s
website.
Financial structure
As of March 31st, 2023, Genomic Vision had cash and cash
equivalents amounting to €43 thousands compared to €0.76 million on
December 31st, 2022. The Company’s cash usage is attributable to
the day-to-day activities and the gradual implementation of its
strategic plan.
Given the revised assumptions for sales growth as well as the
investments in R&D, sales, marketing, general expenses, the
associated working capital assumptions and the contract signed with
Winance, Genomic Vision has the necessary resources for its
business development throughout 2023.
As disclosed on May 20th, 2022, the Company has entered into a
contract with Winance to establish a financing line by issuing
convertible bonds (the “OC”) into ordinary shares to each of which
will be attached a share subscription warrant (the “BSA” and
together with the shares to which they are attached the “ABSA” and
with the OC the “OCABSA”), for a maximum total amount of €28.8
million (€30 million nominal value). The extraordinary shareholders
meeting of the Company held on May 23rd, 2022 approved the
implementation of this financing line.
The Company can potentially use, as of March 31st, 2023, up to
€23.96 million (€25 million nominal value) out of its financing
program. The main terms of this program structured in 15 tranches
of OCABSA are described in the prospectus approved by the Autorité
des marchés financiers (AMF) on May 20th, 2022 under no. 22-170,
consisting of the universal registration document filed on April
14th, 2022 under number D.22-0293, the amendment to the universal
registration document filed on May 20th, 2022 under number
D.22-0293-A01, a transaction note and a summary, available at the
Company's registered office (80/84 Rue des Meuniers, 92220
Bagneux), on the Company's website (www.genomicvision.com) and on
that of the AMF (www.amf-france.org).
The investment and growth financing requirements are based on
the following key strategic priorities:
- Investment in R&D to strengthen ongoing projects and
enlarge the Company’s portfolio of applications.
1) Develop new and innovative solutions for
the following markets:
- Gene analysis, Gene Editing and Bioproduction
- Fundamental oncology focused clinical research
2) Improvement in the performance and design
of new products:
- New integrated and automated system from sample preparation to
full analysis
- Automation on all instruments to improve user experience
- Investment in Sales, Marketing and Support Teams:
1) Increase market coverage notably in the
USA and Europe 2) Aim to sign large industrial partnerships to
leverage Genomic Vision products and capabilities
Upcoming financial publications2
- First Semester 2023 Financial Report: Friday September 29th,
2023
- Q3 2023 Revenue: Tuesday November 14th, 2023
ABOUT GENOMIC VISION
GENOMIC VISION is a biotechnology company developing products
and services dedicated to the structural and functional analysis of
genome modifications as well as to the quality and safety control
of these modifications, in particular in genome editing
technologies and biomanufacturing processes. Genomic Vision
proprietary products and services, based on DNA combing technology
and artificial intelligence, provide robust quantitative
measurements needed for high confidence characterization of DNA
alteration in the genome. These products and services are also used
for monitoring DNA replication in cells to improve anti-cancerous
drugs development. Genomic Vision, based near Paris in Bagneux, is
a public company listed in compartment C of Euronext’s regulated
market in Paris (Euronext: GV – ISIN: FR0011799907).
For further information, please visit www.genomicvision.com
***
Member of the CAC® Mid & Small and CAC®
All-Tradable indexes
FORWARD LOOKING STATEMENT
Genomic Vision has set up a financing line in the form of
convertible notes with warrants (OCABSA) with Winance, which does
not intend to remain a shareholder of the company, after receiving
the shares resulting from the conversion or exercise of the
securities.
The shares resulting from the conversion or exercise of the
aforementioned securities will, in general, be sold on the market
very quickly, which is likely to create strong downward pressure on
the share price as well as a strong dilution.
Shareholders could therefore suffer a loss of their invested
capital due to a significant decrease in the value of the company's
shares. The company has carried out several dilutive financing
operations, and investors are advised to be very careful before
making a decision to invest in the company's securities.
This press release contains implicitly or explicitly certain
forward-looking statements concerning Genomic Vision and its
business. Such forward-looking statements are based on assumptions
that Genomic Vision considers to be reasonable. However, there can
be no assurance that such forward-looking statements will be
verified, which statements are subject to numerous risks, including
the risks set forth in the “Risk Factors” section of the universal
registration document filed with the AMF on April 14, 2022 under
reference number R.22-0293, as updated by the amendment filed with
the AMF on May 20, 2022, under number D.22-0293-A01, available on
the web site of Genomic Vision (www.genomicvision.com) and to the
development of economic conditions, financial markets and the
markets in which Genomic Vision operates. The forward-looking
statements contained in this press release are also subject to
risks not yet known to Genomic Vision or not currently considered
material by Genomic Vision. The occurrence of all or part of such
risks could cause actual results, financial conditions, performance
or achievements of Genomic Vision to be materially different from
such forward-looking statements.
This press release and the information contained herein do not
constitute and should not be construed as an offer or an invitation
to sell or subscribe, or the solicitation of any order or
invitation to purchase or subscribe for Genomic Vision shares in
any country. The distribution of this press release in certain
countries may be a breach of applicable laws. The persons in
possession of this press release must inquire about any local
restrictions and comply with these restrictions.
1 Unaudited figures 2 Indicative date, subject to change.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230504006093/en/
Genomic Vision Aaron Bensimon CEO Tel.: +33 1 49 08 07 51
Email: investisseurs@genomicvision.com
Ulysse Communication Media Relations Bruno Arabian Tel.:
+33 1 42 68 29 70 barabian@ulysse-communication.com
Consilium Strategic Communications International Investor
Relations & Strategic Communications Tel: +44 (0) 20 3709 5700
GenomicVision@consilium-comms.com
NewCap Investor Relations Tel.: +33 1 44 71 94 94 Email:
gv@newcap.eu
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