Brief: Biocartis Suspends Guidance, Appoints New CFO

Biocartis NV

23/04/2020 06:52

April 23 (Reuters) - BIOCARTIS GROUP NV  BCART.BR :
    * BIOCARTIS Q1 2020 BUSINESS UPDATE
    * BIOCARTIS' CASH POSITION END Q1 2020 AMOUNTED TO EUR
170.1M
    * SLOWER THAN EXPECTED INSTALLED BASE EXPANSION ACROSS
MARKETS IN
Q1 2020 DUE TO GLOBAL COVID-19 PANDEMIC
    * APPOINTMENT NEW CFO: BIOCARTIS ANNOUNCES APPOINTMENT OF
JEAN-MARC ROELANDT AS NEW CHIEF FINANCIAL OFFICER ('CFO')
    * COMPANY IS SUSPENDING ITS GUIDANCE ON INSTRUMENT
PLACEMENTS IN
2020 AND WILL PROVIDE AN UPDATE AS SOON AS NORMAL BUSINESS
ACTIVITY RESUMES
    * ON CORONAVIRUS:  DUE TO COVID-19 PANDEMIC, NEW IDYLLA™
INSTRUMENT PLACEMENTS SLOWED DOWN TOWARDS END Q1 2020 AS ACCESS
TO HOSPITALS WAS RESTRICTED
    * BIOCARTIS SEES POTENTIAL TO STILL MEET ITS 2020 COMMERCIAL
CARTRIDGE VOLUME OBJECTIVE
    * HOWEVER GIVEN CURRENT UNCERTAINTIES AROUND TIMING OF
NORMALIZATION, COMPANY CURRENTLY ALSO SUSPENDS GUIDANCE ON
COMMERCIAL CARTRIDGE VOLUME GROWTH
    * CASH POSITION IS STILL TARGETED TO BE IN RANGE OF EUR 110M
BY
YEAR-END 2020.

Source text for Eikon:  ID:nGNE4t2y8V 
Further company coverage:  BCART.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))