EQS-Adhoc: IGEA Pharma N.V.: IGEA disclosed its Annual Report 2019

EQS Group-Ad-hoc: IGEA Pharma N.V. / Key word(s): Annual Results 
IGEA disclosed its Annual Report 2019 
 
31-May-2020 / 22:56 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 KR 
The issuer is solely responsible for the content of this announcement. 
 
*IGEA disclosed its Annual Report 2019* 
 
Hoofddorp, the Netherlands, 31 May 2020. IGEA Pharma N.V. (SIX: IGPH) today 
announced the disclosure of its Annual Report 2019. 
 
_Overview 2019_ 
Due to the ongoing market launch of its products, lasting more than 
expected, revenues continued to be marginal for 2019. The Group expects a 
significant impact on the net sales in the second half of 2020, mainly 
driven by the diversification to wholesale distribution undertaken by late 
2019/early 2020. Cost of revenues were TUSD 440 (2018: 198), with an 
increase due to the impairment (TUSD 167) of certain intangible assets no 
more considered strategic for the business and the generally increased level 
of activities (TUSD 75). Operating expenses were TUSD 1.491 (2018: 1,275), 
of which TUSD 122 for research and development (2018: none), TUSD 528 for 
sales and marketing (2018: none) and TUSD 841 (2018: 1,280) for general and 
administration. The increase in sales and marketing is mainly due to the 
increased level of e-commerce related activities and services for market 
launch. General and administration cost were generally reduced by TUSD 741 
(of which however TUSD 375 were for cost of listing by end of 2018), offset 
by an increase of TUSD 302 mainly due to the management who started to 
operate beginning of 2019. EBITDA (as adjusted for impairment charges) and 
EBIT figures were TUSD -1.617 (2018: -1,388) and TUSD -1,930 (2018: -1,467) 
respectively, and the loss of the year is TUSD -1'908 (2018: -1,428), 
representing a basic and diluted loss per share of USD 0.076 (2018: 0.062). 
 
The Group assets are TUSD 1,067 (2018: 3,487), of which TUSD 546 (2018: 
2.941) of current nature, decreasing during the year mainly by the cash used 
for operations. Liabilities are TUSD 523 (2018: 935) and shareholder's 
equity is TUSD 544 (2018: 2,551). 
 
_Outlook 2020_ 
The Group diversified its distribution strategy by entering the wholesale 
channel, partnering with Acalis Group, with the goal to expand also in new 
markets. The results of this strategy are expected during the second half of 
2020. The Group intends to strengthen the e-commerce-based distribution and 
to further diversify its product portfolio by way of raising additional 
funds. The various government-ordered lockdown following the global spread 
of COVID-19 and the shutdown in the capital markets required IGEA to suspend 
this initiative beginning 2020. Meanwhile, the Group has granted the funds 
to operate the business as planned through unsecured, non-interest bearing 
and not redeemable convertible loans. The Group will resume its suspended 
fundraising activities within the next coming weeks. 
 
Furthermore, the Group anticipated a postponement of its second ordinary 
general meeting to newly 3 July 2020. The convening notice and material will 
be disclosed within the next coming days. 
 
The Annual Report 2019 is available at 
https://www.igeapharma.nl/category/financial-reports/ [1] 
 
*** 
 
*About IGEA* 
IGEA Pharma N.V. focuses on health-tech and med-tech products and devices. 
Health-tech products are exclusively preventative. IGEA commercializes an 
Alzheimer's prevention set (which includes 'Alz1', an at-home lab test kit 
to measure non-bound copper in the blood and a natural dietary supplement 
branded 'Alz1 Tab' designed to reduce blood heavy metals content), and 
intends to launch a diabetes type II prevention set in 2020. 
Non-ceruloplasmin bound copper is an expected Alzheimer's and diabetes type 
II associated biomarker. Controlling non-bound copper can contribute to 
reduce the risk of Alzheimer's and diabetes type II. Since 2020, IGEA 
furthermore commercializes a COVID-19 rapid test for the detection of IgM 
and IgG SARC-CoV-2 related antibodies. Med-tech products focuses on selected 
solutions and specialities. IGEA commercializes dry aerosol generators for 
air and inanimate environmental surfaces sanitization and air sterilization 
and purification devices and expects to start commercializing medical bags 
and other polymeric based specialty devices for medical use during 2020. 
 
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered 
in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl 
 
*Contacts* 
Vincenzo Moccia, CEO, [phone], [e-mail] 
Patrick Pozzorini, CFO, [phone], [e-mail] 
 
*Disclaimer* 
This document constitutes neither an offer to buy nor to subscribe 
securities and neither this document nor any part of it should form the 
basis of any investment decision in IGEA. 
 
The information contained in this press release has been carefully prepared. 
However, IGEA bears and assumes no liability of whatever kind for the 
correctness and completeness of the information provided herein. IGEA does 
not assume an obligation of whatever kind to update or correct information 
contained in this press release whether as a result of new information, 
future events or for other reasons. 
 
This publication may contain specific forward-looking statements and 
assessments or intentions concerning IGEA and its business. Such 
forward-looking statements are subject to known and unknown risks, 
uncertainties and other factors which may result in a substantial divergence 
between the actual results, financial situation, development or performance 
of IGEA and those explicitly or implicitly presumed in these statements. 
Against the background of these uncertainties, readers should not rely on 
forward-looking statements. IGEA assumes no responsibility to update 
forward-looking statements or to adapt them to future events or 
developments, except as may be required by law. 
 
Additional features: 
 
Document: https://eqs-cockpit.com/c/fncls.ssp?u=UIXHEHCKEM [2] 
Document title: 20200531 igea nv_press release 
End of ad hoc announcement 
Language:    English 
Company:     IGEA Pharma N.V. 
             Siriusdreef 17 
             2123 WT Hoofddorp 
             Netherlands 
Phone:       [phone] 
E-mail:      [e-mail] 
Internet:    www.igeapharma.nl 
ISIN:        NL0012768675 
Listed:      SIX Swiss Exchange 
EQS News ID: 1059679 
 
End of Announcement EQS Group News Service 
 
1059679 31-May-2020 CET/CEST 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ee2985e5596f341089746180c1b2437d&application_id=1059679&site_id=vwd_london&application_name=news 
2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=8aa610583a4e1642e850f15bc45359e1&application_id=1059679&site_id=vwd_london&application_name=news 
 

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May 31, 2020 16:59 ET (20:59 GMT)