Execution and preparation for massive growth
2015 was a busy, significant and crucial year for BioPorto focused on executing it’s strategic goals whose achievement is essential for optimizing BioPorto’s long-term potential. We set out to submit FDA application and prepare the roll-out of The NGAL Test™ in the US, increase the number of routine-diagnostics users and increase revenue generated by the test in existing markets, and develop and further strengthen the portfolio of ELISA kits and antibodies and, thus, their future revenue potential for our core business.
“In 2015, we have been succesful on every point, and also successfully implemented a share issue and the powerful entry of The NGAL Test™ in South Korea, which has helped to increase revenue and enhance operating profit in 2015. Early in 2016, we have followed up strongly by entering into an important distribution agreement with Siemens Healthcare, we officially set up a US subsidiary and we consolidated our organization, so we in all parameters are stronger today than ever,” says Peter M. Eriksen, CEO of BioPorto A/S.
BioPorto’s revenues increased by 9% to DKK 20.4 million in 2015, thereby continuing the rising revenue trend which began in 2014. Revenue is on a par with recently announced forecasts. The financial result for the year was a loss of DKK 10.7 million compared to a loss of DKK 12.9 million the previous year. The loss corresponds to recently announced forecasts and is satisfactory in light of the strategic goals achieved for the year. As a result of our targeted efforts in 2015, BioPorto’s prospects are more attractive and attainable than ever. And it is the basis of expectations of massive growth from 2016 onwards.
"We are awaiting the approval of our application for registration of The NGAL Test™ from the FDA, which is a very important milestone in BioPorto’s history. Once it is obtained, we will start the commercialization of the test in the world's largest market for diagnostic tests and deploy next phase of the aggressive US strategy, that we have developed and invested in. A strategy to accelerate growth by initially targeting selected hospitals and transplant clinics, and expand the use in hospitals for intensive care units. The prioritization of a distinct and rapid uptake in the US, the expansion of our test and antibody portfolio and the effect of the distribution agreement with Siemens will enable us to accelerate growth by 30-50% in 2016, and ensure much greater value creation in the future,” says Peter M. Eriksen.
See the full report in the enclosed PDF or follow this link
For further information, please contact:
Peter Mørch Eriksen, CEO
Christina Thomsen, Investor Relations Manager
Telephone +45 4529 0000, e-mail investor@bioporto.com
