Brief: Biocartis Group Raises FY Guidance for Product Gross Margin

Biocartis NV

21/10/2022 06:08

Oct 21 (Reuters) - Biocartis Group NV  BCART.BR :
    * BIOCARTIS GROUP NV: BIOCARTIS REPORTS RESULTS OF THIRD
QUARTER
OF 2022
    * BIOCARTIS GROUP NV - FULL-YEAR GUIDANCE RAISED FOR PRODUCT
GROSS
MARGIN
    * BIOCARTIS GROUP NV - PRODUCT REVENUES ARE EXPECTED TO BE
IMPACTED IN Q4 2022 AS A DIRECT RESULT OF CURRENT ECONOMIC
ENVIRONMENT
    * BIOCARTIS GROUP NV - EXPECTED PRODUCT REVENUE FOR 2022 IS
NOW
PROJECTED TO AMOUNT TO AT LEAST EUR 45M
    * BIOCARTIS GROUP NV - PRODUCT GROSS MARGIN FOR YEAR IS
EXPECTED
TO BE AT LEAST 30%
    * BIOCARTIS GROUP NV - FY OPERATING CASH BURN IS EXPECTED TO
IMPROVE TO BETWEEN EUR 41M-EUR 43M
    * BIOCARTIS GROUP NV - STARTING 2023, OVER 90% OF COMMERCIAL
CARTRIDGE PRODUCTION WILL HAVE BEEN TRANSFERRED TO HIGHLY
AUTOMATED SECOND MANUFACTURING LINE 'ML2'
    * BIOCARTIS GROUP NV - MORE DETAILED GUIDANCE ON EXPECTED
PERFORMANCE IN 2023 WILL BE PROVIDED WHEN ANNOUNCING FULL YEAR
2022 RESULTS ON 23 FEBRUARY 2023
    * BIOCARTIS GROUP NV - Q3 PRODUCT REVENUE OF EUR 30.5M, UP
14%
YEAR-ON-YEAR
    * BIOCARTIS GROUP NV - Q3 GROSS PROFIT ON PRODUCT SALES OF
EUR
9.7M (Q3 2021: EUR 2.3M)
    * BIOCARTIS GROUP NV - Q3 GROSS MARGIN OF 32% (8% IN Q3
2021)
    * BIOCARTIS GROUP NV - Q3 OPERATING CASH BURN OF EUR 30.6M,
A
REDUCTION OF EUR 15.2M YEAR-ON-YEAR.
    * BIOCARTIS GROUP NV - Q3 CASH POSITION END Q3 2022 AMOUNTS
TO EUR
12.6M

Source text for Eikon:  ID:nGNE1XtjyF 
Further company coverage:  BCART.BR 
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