On July 18, 2022 THERADIAG (ISIN: FR0004197747, Ticker: ALTER), a company specializing in in vitro diagnostics and Theranostics, reported its half-year revenue and cash position on June 30, 2022, data that is currently being audited (Press release, Theradiag, JUL 18, 2022, View Source [SID1234616717]).

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Over the six months to June 30, 2022, Theradiag generated revenue of €6.3 million, compared with €5.5 million in the first half of 2021, giving growth of 14.3%.

Theranostics activity recorded another semester of solid growth, with revenue increasing by 9.3% to more than €3.0 million on June 30, 2022. This activity keeps on growing thanks to dynamic sales of the automated i-Track10 driven by an expanding range of i-Tracker tests adapted to this analyzer that thus allows the development of individualized therapeutic monitoring of even more biotherapies.

In France, Theranostics saw a solid level of activity with sales increasing by 10.5% to over €1 million. Abroad, Theranostics activity also generated satisfactory sales of approximately €2.0 million, up 8.7% compared with the first half of 2021. Moreover, the Company is in a period of reflection in order to optimize its commercial activities on the North American market.

IVD (In Vitro Diagnostics) activity recorded strong sales growth of 19.3% to over €3.2 million on June 30, 2022. This activity achieved a particularly noteworthy performance in France, where sales jumped by 29.3% to €2.1 million. These exceptional performances are the result of non-recurrent commercial opportunities. Indeed, during the first half of this year, Theradiag recorded some opportunistic sales of diagnostic instruments, notably to the veterinary sector, and logged sales of genetic tests that were temporarily increased before the closure and resumption of this distribution line.

Cash position

Theradiag had a net cash position of €6.0 million on June 30, 2022, versus €7.1 million on December 31, 2021. This level is in line with the Company’s roadmap outlined at the time of the rights issue carried out in October 2021.

Bertrand de Castelnau, Theradiag’s CEO, commented: "Theradiag is continuing to record solid commercial performances in the first half of 2022. We were able to maintain our customary growth in Theranostics and make the most of market opportunities in in vitro diagnostics. Along with this good sales dynamic, strategic and structural milestones were achieved by the Company in terms of R&D, such as the launch of ez-Track1 that is accelerating our differentiation in biotherapy monitoring and strengthening our leadership position on this market. Moreover, Theradiag has taken the implementation of IVDR* onboard and is focusing its attention on the next measures imposed by this new regulation. In the second half of 2022, we will strive to continue implementing our strategic plan that will allow us to improve all our financial indicators."

Pierre Morgon, Chairman of Theradiag’s Board of Directors, added: "Theradiag keeps on developing its Theranostics activity, which is the cornerstone of its growth strategy, and will remain agile by seizing any opportunities that arise on the IVD market. This strategy is enabling Theradiag to establish its leadership position on its key markets, which have excellent prospects."

Reminder of the main H1 2022 highlights

January 2022: Signing of a distribution agreement with BIOSYNEX of their AMPLIQUICK SARS-CoV-2 PCR test
May 2022: Launch of two new i-Tracker kits: i-Tracker Certolizumab and i-Tracker Anti-Certolizumab
May 2022: Launch of ez-Track1, a Point-of-Care Testing solution for therapeutic drug monitoring
June 2022: Partnership with Quotient Limited to advance autoimmune disease diagnostics
Next financial press release:

– H1 2022 results, on Monday September 19, 2022, before market