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Biocartis Group N.V.. (3/1/18). "Press Release: Biocartis Announces 2017 Results and 2018 Outlook". Mechelen.

Organisation Organisation Biocartis Group N.V. (Euronext Brussels: BCART)
  Group Biocartis (Group)
Products Product Idylla™ molecular diagnostics system
  Product 2 Idylla™ NRAS-BRAF Mutation Test (solid biopsy, CE-IVD)
     


Biocartis Group NV (the ‘Company’ or ‘Biocartis’), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces its operational highlights and financial results for 2017, prepared in accordance with IFRS as adopted by the European Union as well as selected post period events and its outlook for 2018.

Key messages 2017 results

> Commercial product revenues: increased year-over-year with 124% to EUR 12.7m.

> Total operating income: equaled EUR 23.1m in 2017 compared to EUR 13.8m in 2016, representing a year-over-year increase of 68%.

> Commercial cartridge consumption: increased year-over-year with about 2.8 times to over 71k Idylla™ cartridges.

> Installed base: 258 Idylla™ instruments were added to the installed based, bring the total to close to 650 as per year-end.

> Test menu: four new CE-markings in 2017; Idylla™ NRAS Mutation Test, Idylla™ EGFR Mutation Test, Idylla™ ctKRAS Mutation Test and Idylla™ ctNRAS-BRAF Mutation Test.

> Cash position: cash and cash equivalents amounted to EUR 112.8m as per 31 December 2017. In addition, the Company has a multiple purpose credit facility of EUR 27.5m at its disposal on which no drawdowns were made as per year-end, bringing total available funds to approx. EUR 140.3m.


2018 outlook

> Cartridge consumption: target of doubling commercial cartridge volume in 2018.

> Installed base: maintain installed base growth at 250-275 new instrument placements, bringing the total installed base to around 900-925 Idylla™ instruments by year end 2018.

> Cash position: in the range of EUR 50m – EUR 60m by 2018 year end, excluding drawdowns on the Company’s multiple purpose credit facility.


Biocartis will host a conference call with live webcast presentation today at 14:00 CET / 13:00 BST (UK) / 08:00 EDT (US) to discuss the 2017 results. Click here to access the live webcast.

To participate in the questions and answers session, please dial 5-10 minutes prior to the start time the number +44(0)330 336 9105 (standard international), followed by the confirmation code 8419378.

The conference call and webcast will be conducted in English.

A replay of the webcast will be available on the Biocartis investors’ website shortly after.


DOWNLOAD FULL PRESS RELEASE BELOW
related documents

> 2017FY Results & 2018 Outlook ENG (494.81 KB) [ https://media.biocartis.com/biocartis/documents/180228-Press-Release-BCART-2017FY-results-and-2018-outlook_ENG.pdf ]

   
Record changed: 2018-03-11

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