On January 30, 2020 THERADIAG (ISIN: FR0004197747, Mnemonic: ALTER), a company specializing in in vitro diagnostics of autoimmune diseases and Theranostics reported its consolidated annual sales and its cash level at December 31, 2019, data under audit (Press release, Theradiag, JAN 30, 2020, View Source [SID1234553704]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

2019 consolidated revenue of € 9.6 million

As of December 31, 2019, Theradiag generated revenue of 9.6 million euros compared to 8.9 million in 2018, an increase of + 8.3% in line with the strategic axes set by the company.

The Theranostics activity recorded strong growth of + 10.5%, driven by sales of routine LISA TRACKER kits which now represent the company’s recurring activity in this segment. These kit sales exceeded a threshold with 4.3 million euros on the 2019 annual global (vs. 3.9 million at December 31, 2018). In the future, the Theranostics activity may be assimilated to this recurring activity of kit sales, now well in place, and the company will communicate on this one element of global Theranostics.

In France, where the model is now established, sales in Theranostics were particularly satisfactory with growth of 19%.

In the United States, Theradiag has concluded a year of transition reflecting the exit of its former partner in this territory. The transfer to its new partner Halio DX is gradual and will be finalized at the end of the first quarter of 2020.

In export, the company maintains a very satisfactory level of sustained activity, particularly in Spain and the United Kingdom, two strategic countries.

The In Vitro Diagnostics (IVD) activity posted overall growth in sales of + 6.0% with 5.2 million euros at the end of December 2019. It should be noted that this growth includes 1 st semester non-recurring instrumentation sales . Aside from this exceptional element, sales in this historic business segment are, as expected, slightly down. Theradiag pursues in this historical segment, in addition to its primary activity of autoimmunity, a strategy of niche specialization, such as genetics or male fertility.

Cash position

At December 31, 2019, Theradiag’s free cash flow stood at 2.9 million euros compared to 3.4 million euros at December 31, 2018 and 3.2 million euros at June 30, 2019.

Bertrand de Castelnau, CEO of Theradiag commented, "Theradiag and all the teams have made good progress in 2019: new products, new partners, new markets. We followed our roadmap with the objective of developing growth in our strategic priority markets, without compromising the investments necessary for the future of Theradiag. Priority has been given to restructuring the mix of our activities and setting milestones for internationalization, in market segments with higher profitability potential. We are staying the course to gradually improve our financial performance indicators. "

"This year is indeed a pivotal year. The overall sales growth is positive and points in the right direction. The development of the strategy around partnerships centered on Theranostics is gradually unfolding, we have recorded great successes this year and keep our commitment to innovation which is one of our key success factors. " Added Pierre Morgon, Chairman of the Board of Directors of Theradiag.

Reminder of the main events of 2019

Partnership with three new strategic distributors in Asia, December 2019
CE marking of the new i-Track 10 automated system for monitoring biotherapies, November 2019
Strategic agreement with PredictImmune for the marketing of PredictSURE IBD in French-speaking European countries, October 2019
Signing of an agreement with Halio DX as part of its development in the United States, May 2019
Signature of a development and distribution agreement with Immunodiagnostic Systems (IDS) regarding access to the latest generation IDS-i10 controller , April 2019
End of legal dispute with HOB Biotech, April 2019

Financial calendar:

2019 annual results , March 18, 2020, after market close
Annual General Meeting , May 14, 2020

Next congresses in which Theradiag participates:

12-15 February 2020 15 th congress ECCO (European Crohn’s and Colitis Organization), Vienna, Austria
5-6 March 2020: Days of the Syndicate of Young Medical Biologists – Biomed-J 2020, Paris
March 6-7, 2020: Seminar Therapeutic Study of Inflammatory Conditions of the Digestive Tube (GETAID), Paris
March 26-29, 2020: Francophone Days of Hepato-gastroenterology and Digestive Oncology 2020 (JFHOD), Paris.