NEWS DETAIL

Year-End Report October – December 2021

(Oslo, 18 February 2022) Genetic Analysis AS (“GA” or “the Company”) hereby publishes the year-end report for the period 1 October – December 31, 2021. The year-end report is available as an attached file to this release and on the Company's website. Below is a summary of the report.

Genetic Analysis CEO Ronny Hermansen comments:
“The year of 2021 has passed, and we can look back on an eventful year filled with milestones like an oversubscribed IPO, successful listing at Spotlight Stock Market, the signing of IMD as a new high-volume lab in Europe, and the receival of a research grant of NOK 16 million to develop a new IBD test. GA has taken important steps during 2021 and we look forward to an exciting journey in 2022 as a listed company.

2021 has also been a very active year within the research community and more and more evidence is suggesting that peoples' gut microbiome has a key role in good health and better disease management. We strongly believe that microbiome profiling will be a game-changer in the future for modern medicine.”

Q4 2021 (01.10.2021 – 31.12.2021)

  • Operating income amounted to NOK 7,6 million (3,0)
  • Sales amounted to NOK 2,8 million (2,0)
  • Net profit/loss amounted to NOK -7,1 million (-7,8)
  • Total assets amounted to NOK 83,5 million (55,6)
  • Equity ratio amounted to 86% (84%)
  • Earnings per share amounted to NOK -0,28 (-0,46)


Q1-Q4 2021 (01.01.2021 – 31.12.2021)

  • Operating income amounted to NOK 13,4 million (7,8)
  • Sales amounted to NOK 6,8 million (5,8)
  • Net profit/loss amounted to NOK -29,0 million (-22,1)
  • Total assets amounted to NOK 83,5 million (55,6)
  • Equity ratio amounted to 86% (84%)
  • Earnings per share amounted to NOK -1,16 (-1,29)


Highlights Q4 2021

  • Total operating income of NOK 7,6 million in Q4 2021, up 150% from Q4 2020. Net loss was NOK -7,1 million compared to NOK -7,8 million in the corresponding quarter in 2020.
  • Sales revenues of NOK 2,8 million, a 44% growth compared to Q4 2020. Regent kit sales grew by 300% from NOK 0,6 million in Q4 2020 to NOK 2,4 million in Q4 2021.
  • On 1 October, GA was successfully listed on the Spotlight Stock Market raising NOK 60 million.
  • In December, GA significantly expanded the commercial bandwidth by completing the development work and CE marking the GA-map reagent kit onto an additional readout platform; the Luminex MAGPIX instrument.
  • GA entered a service agreement with Eurofins ADME BIOANALYSES, which is the first clinical research organisation to offer the GA-map Microbiome test.
  • GA received an important patent allowance in China. The patent entitled “A method for determining gastrointestinal tract dysbiosis” covers the Company's unique algorithm incorporated in the GA-map technology for profiling gut microbiota.
  • In the U.S., GA was awarded an important patent covering a companion diagnostic method for optimizing IBS interventions.


Highlights after the period

  • On 13 January, GA entered an agreement with Thalys Medical Technology Group for developing new microbiome-related diagnostics in China, and in the first phase, a microbiome laboratory-developed test (LDT) for the Chinese market.
  • On 27 January, GA reported the first commercial sales of the enhanced GA-map Dysbiosis Test version 2 after a successful customer test period in Q4.
  • On 1 February, the Company commercially launched the GA-map Dysbiosis Test on the Luminex MAGPIX system.
  • On 15 February, GA announced a new high-volume customer in Europe.