- The discontinuation of services for the SeqOIA platform mechanically led to a 20% reduction in revenues in the first half of the year. Adjusted for this base effect, growth was 6% over the period.
- All other activities grew over the period.
- Cash and cash equivalents stood at €2,835k at June 30.
Regulatory News:
IntegraGen (FR0010908723 ALINT Eligible PEA PME), an OncoDNA company specializing in the genomics of cancer and rare genetic diseases, which performs interpretable genomic analyses for academic and private laboratories, announces today its unaudited sales for the first half of 2024.
Sales for the first half came to €4,530k, down 20% on the first half of 2023. This decline is explained by the cessation in February 2024 of service activities for the SeqOIA platform, which internalized these activities on that date, in accordance with the terms of the contract won by IntegraGen in 2018. This activity generated €885k in H1, compared with €2,200k in H1 2023.
Excluding revenues from this platform, sales grew by 6% during the period.
The cash position at the end of June 2024 stood at €2,835k, down by one million compared with the situation at December 31, 2023. This position includes the outstanding balance of €867k of the State Guaranteed Loan (PGE) obtained in 2020 as part of the pandemic, which the company continues to repay at a rate of €455k per year. The variation observed over the past half-year is explained by changes in customer payment terms and loan repayments.
With a strengthening of the order book at the end of June, growth prospects remain clearly established on the basis of current sales momentum, multi-year contracts in place and the prospects opened up by the CLIA certification obtained in January 2024, which now enables IntegraGen to carry out studies for pharmaceutical companies as part of their development of innovative new molecules.
Bernard Courtieu, CEO of IntegraGen, comments: "The first half of the year, following the announcement of the end of the five-year contract with SeqOIA, was a particularly demanding challenge for IntegraGen. We met it by concentrating our efforts on the activities generating the highest margins. Obtaining CAP accreditation and CLIA (Clinical Laboratory Improvement Act) certification fits perfectly with this strategy, opening up the high value-added pharmaceutical industry market to IntegraGen. At the same time, IntegraGen has drastically reduced its workforce and taken its cost-cutting processes even further.
The very first results reflect this new dynamic, with 6% growth in activities excluding SeqOIA and an 11% increase in the order book. It is therefore with determination and confidence that the company looks forward to the period ahead
Financial results for the first half of 2024 will be published on October 20, 2024.
ABOUT INTEGRAGEN
IntegraGen is an OncoDNA group company specializing in the genomics of cancer and rare genetic diseases. Backed by highly competent and qualified teams, IntegraGen is a leading player in DNA sequencing services and genomic data interpretation software. The company runs one of the largest NGS labs in France and operates for research institutes of excellence. As part of OncoDNA group, IntegraGen leverages the power of next generation sequencing with the mission of delivering the promise of precision medicine to patients. IntegraGen has about 42 employees and generated €11.8 million of turnover in 2023. Based in France, IntegraGen is part of the Belgian OncoDNA group present in Spain, UK, Germany and works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of late stage solid tumors and accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN: FR0010908723 Mnemo: ALINT Eligible PEA- PME).
For further information, please visit www.integragen.com or connect with us on LinkedIn or Twitter.
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Contacts:
IntegraGen
Bernard COURTIEU
CEO
Virginie Decoster
CFO
contact@integragen.com
Tel.: +33 (0)1 60 91 09 00
NewCap
Investor Relations
Louis-Victor DELOUVRIER
integragen@newcap.eu
Tel.: +33 (0)1 44 71 98 53
