IGEA DISCLOSES ITS HALF-2022 FINANCIAL REPORT
Hoofddorp, the Netherlands, 30 October 2022. IGEA Pharma N.V. (SIX: IGPH) today announced the disclosure of its Half-2022 Financial Report.
The Group generated marginal revenues (Keur 5,7) during the first six months of 2022 (previous period: Keur 18,2); Cost of sales were Keur 5,6 (previous period: TUSD 68,4), resulting in a negligible gross margin; Operating expenses were Keur 136,2 (previous period: TUSD 561,9), mainly for general and administration purposes; The EBITDA as adjusted (before impairment charges and share of losses from investments consolidated using the equity method) and EBIT figures are negative for Keur 135,6 (previous period: Keur 606,6) and Keur 212,8 (previous period: Kur 699,9) respectively. The change compared to the previous period is largely due to the decrease of R&D, general and administrative expenses; Finance income and costs were negligible in both periods; The net loss for the period is Keur 213,4 (previous period: Keur 718,7), representing a basic and diluted loss per share of Eur 0,001 (previous period: basic and diluted loss per share of Eur 0.002).
Balance sheet and cash flow
As of 30 June 2022, the Group held non-current assets for Eur 10.169,0 and current assets for Keur 1.185,8 (31December2021:Keur 10.261,2 and 1.127,1respectively),with no changes due to relevant events;
The Group’s current liabilities were Keur 1.111.3 (31 December 2021: Keur1.219,6)while the non-current liabilities amount to Keur 570,0 (31 December 2021: Keur 590,1), with variations mainly due to exchange rate effects;
The operations resulted in a cash absorption of Keur 226,9 in the first semester of 2022. Negma’s commitment grants the cash and cash equivalents necessary to finance the combined Group’s level of activities for at least twelvemonths.
The Group ensured additional cash and cash equivalents beginning of 2022 necessary to finance its level of activities for at least twelve months.
The Half-2022 Financial Report can be downloaded at the Igea Pharna NV website with the following link https://www.igeapharma.nl/category/financial-reports/
IGEA Pharma N.V. focuses through its Joint Venture on industrial CO2 supercritical extraction of CBD and other valuable components from their vegetable matrices for health prevention, pharma, food&beverage and other selected industries, with an innovative early-stage commercial and highly diversifiable pipeline. The company aims to become a center of excellence on highly controlled vegetable matrices and their industrial extraction technology. On the other hand, Igea operates on preventative health-tech products and devices, commercializing 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 expects to integrate the non-bound copper detection-based pipeline with a diabetes type II prevention set in the next future. IGEA furthermore commercializes a COVID19 rapid test for the detection of IgM and IgG SARSCoV-2 related antibodies. IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
Vincenzo Moccia, CEO, +393405830933
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