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Medigene 9-month Net Loss Widens; Confirms FY19 Outlook - Quick Facts

Medigene AG (MDGEF.PK) on Wednesday reported net loss for the first nine months of 2019 of 20.00 million euros, wider than net loss of 13.16 million euros in the year-ago period. Loss per share widened to 0.81 euros from 0.56 euros in the same period last year.

EBITDA loss for the nine months widened to 18.60 million euros from 12.57 million euros in the prior-year period. Without taking the non-core business Veregen effect into account, EBITDA loss widened to 13.93 million euros.

However, revenue from the core immunotherapies business for the nine months grew 32 percent to 6.22 million euros. Total revenue for the period rose 13 percent to 6.94 million euros from 6.13 million euros in the prior-year period.

Looking ahead, Medigene confirmed its financial outlook for fiscal 2019. The company expects to generate total revenues between 10 million euros and 11 million euros, and EBITDA loss of 23 million euros to 28 million euros.

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