Hoofddorp, The Netherlands, 27 May 2019. IGEA Pharma N.V. (the “Company” and together with its subsidiaries “IGEA” or the “Group”) today announced the disclosure of its Q1 2019 financials.
Cost of revenue increased from TUSD 46.7 in the previous period up to TUSD 93.4 in the first three months of 2019 due to the costs incurred for keeping the laboratory facility ready for commercial launch as well as to the increased cost for securing freedom to operate against third party existing or future intellectual property rights. Selling, general and administration expenses increased from TUSD 115.1 in the previous period up to TUSD 353.7 in the reporting period due to the ongoing finalization of the products launch (mainly product delivery/logistic value chain, e-commerce channels, legal-commercial advise and regulatory matters), the increased corporate activity level post listing and the beginning of management compensation. The Group total loss for the three months ended 31 March 2019 is of TUSD 412.9 (previous period: TUSD 148.0), representing a basic and diluted loss per share of USD 0.016 (previous period: USD 0.007).
As at 31 March 2019, the Group held USD 1.5 million of cash and cash equivalents. The Group has enough cash and cash equivalents necessary to finance its actual level of activities for at least twelve months.
The market launch of the test kit ‘ALZ-1’ and the supplement ‘ALZ-1 TAB’ is expected by end of June 2019. The operations in the second half of 2019 will mainly focuses on strengthening the revenue level into the selected market.
The first quarter 2019 condensed financial report is available at https://www.igeapharma.nl/category/financial-reports/
IGEA Pharma N.V. is a health-tech company focused on measure and control of identified factors related to life-threatening diseases. IGEA developed ‘ALZ-1’, a test kit to measure non ceruloplasmin bound copper (generally defined as “free” copper) in the bloodstream. “Free” copper is a modifiable risk factors in Alzheimer’s (‘AD’) and diabetes type II (DBT2). Monitoring and normalizing “free” copper can contribute to reduce the risk of AD and DBT2 respectively.
IGEA Pharma N.V. is listed on the SIX Swiss Exchange under the ticker ‘IGPH’ and is headquartered in Hoofddorp, the Nehterlands.
For further information, please visit the IGEA website at https://www.igeapharma.nl/
IGEA Pharma N.V. Investor Relations: https://www.igeapharma.nl/investors-relations/
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IGEA Pharma N.V.
Siriusdreef 17, 2123 WT Hoofddorp, the Netherlands
+31 23 568 94 94