On July 9, 2020 IntegraGen (FR0010908723 – ALINT – Eligible PEA PME) (Paris:ALINT), a company specializing in the decryption of the human genome which performs interpretable genomic analyzes for academic and private laboratories and develops diagnostic tools for oncology, reported its unaudited sales for the first half of 2020 (Press release, Integragen, JUL 9, 2020, View Source [SID1234561776]).
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Unaudited sales during the first half of 2020 were 4,706 k€, an increase of 13% compared to the first half of 2019 and 15% on a like-for-like basis taking into account the sale of the company’s diagnostic business at the start of 2020. The growth in sales was a result of an increase in all sequencing activities, in particular the SeqOIA platform (+33%), activities related to outsourced platforms (+18%), and sequencing services for research and clinical research (+9%).
Software and genomic consulting (GeCo) activities were limited due to the pandemic, which notably resulted in the delay of projects.
The company’s cash position at the end of June 2020 was 5.8 m€, representing an improvement of almost 3.0 m€ compared to the cash position as of December 31, 2019. This difference is mainly due to the receipt of a State Guaranteed Loan (PGE) totaling 1.8 m€, to the implementation of several safeguarding actions during the confinement period linked to the COVID-19 pandemic, and to an equilibrium between the consumption of cash for current operations and business revenue.
Bernard Courtieu, Chairman and Chief Executive Officer of IntegraGen stated, "our sales revenue during the first half of 2020 builds on the previously reported profitable growth trajectory which we experienced during the second half of 2019. These results reinforce our current strategy of focusing on our genomic services business with an emphasis on sequencing and data interpretation. Despite the difficulties linked to the pandemic, sales of our software tools to assist with genomic data interpretation remain a major strategic focus, as evidenced by the announcement in April of an agreement with a major cancer center in the United States. The sustained growth and healthy cash position we have achieved despite the current crisis will enable us to pursue a positive and ambitious trajectory. Lastly, I would like to thank the employees of IntegraGen who have demonstrated exemplary solidarity and dedication to ensuring continuity of operations during containment linked to the pandemic."
The financial results for the first half of 2020 will be published on September 17, 2020.