Press release from Companies

Publicerat: 2022-08-18 08:00:00

Genetic Analysis AS: Interim report January – March 2022

Oslo, Norway, August 18, 2022 – Genetic Analysis AS ("GA" or "the Company") hereby publishes the interim report for the period January 1 – June 30, 2022. The interim 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:
“As the first six months of 2022 have passed, I am proud to say that we keep on delivering on our objectives set out in the IPO. In the past quarter, we continued our preparation to expand globally to major markets and entered a strategic collaboration agreement to further develop new microbiome diagnostic and therapeutic solutions and a distribution agreement to launch GA-map® to the United Arabic Emirates (UEA) market. Strategic collaborations and partners like these enable us to accelerate our momentum to become a leading diagnostic company within the microbiome field and they fit perfectly with our business strategy.”

Q2 2022 (01.04.2022 – 30.06.2022)

  • Operating income amounted to NOK 5,5 million (2,0)
  • Sales amounted to NOK 3,0 million (1,3)
  • Net profit/loss amounted to NOK -6,1 million (-6,9)
  • Total assets amounted to NOK 70,1 million (43,9)
  • Equity ratio amounted to 83,2% (74,3)
  • Earnings per share amounted to NOK -0,24 (-0,40)

H1 2022 (01.01.2022 – 30.06.2022)

  • Operating income amounted to NOK 10,3 million (3,4)
  • Sales amounted to NOK 5,5 million (2,3)
  • Net profit/loss amounted to NOK -13,8 million (-15,1)
  • Total assets amounted to NOK 70,1 million (43,9)
  • Equity ratio amounted to 83,2% (74,3)
  • Earnings per share amounted to NOK -0,55 (-0,88)

Highlights Q2 2022

  • Total operating income of NOK 5,5 million in Q2 2022, up 177% from Q2 2021. Net loss was NOK -6,1 million compared to NOK -6,9 million in the corresponding quarter of 2021.
  • Sales revenues of NOK 3,0 million, a 123% growth compared to Q2 2021. Reagent kit sales grew by 113% from NOK 1,0 million in Q2 2021 to NOK 2,2 million in Q2 2022.
  • On June 22, GA entered a Strategic Collaboration Agreement together with Servatus Biopharmaceuticals Ltd. to develop new microbiome diagnostic and therapeutic solutions. The collaboration will bring together Servatus world class knowledge of biotherapeutics and GA’s microbiome diagnostic signature analysis to develop new diagnostic markers and treatment options to ultimately improve the lives of patients worldwide.
  • On May 19, GA entered a distribution agreement with Omnigene Medical Technologies Ltd. to launch GA-map® in the United Arabic Emirates market. In the first stage of the collaboration, Omnigene will launch the GA-map® Dysbiosis Test to the market in Malta.
  • In Q2, GA received notification acceptance for two posters at the American Association for Clinical Chemistry (AACC) congress in Boston in July 2022, which underlines the strength in GA’s biomarker discovery programs. The posters addressed both the GA healthy population study performed in North America, and a type 2 diabetes microbiota observational study.
  • In Q2, GA announced that both Mangold and Norne Securities initiated analyst coverage of the company. The reports can be read at GA’s website www.genetic-analysis.com/analystcoverage/.
  • On April 28, GA held an Annual General Meeting. The Minutes from the AGM with summarized decisions are available on the Company’s website (www.genetic-analysis.com).

Highlights after the period

  • No significant events have occurred after the period that has materially affected this report.

For further information, please contact:
Ronny Hermansen, Chief Executive Officer
E-mail: rh@genetic-analysis.com

Eilert Aamodt, Chief Financial Officer
E-mail: ea@genetic-analysis.com

About Genetic Analysis:
Genetic Analysis AS (GA) is a science-based diagnostic company and pioneer in the human microbiome field with more than 10 years of expertise in research and product development. The unique GA-map® platform is based on a pre-determined multiplex targets approach specialized for simultaneous analysis of a large number of bacteria in one reaction. The test results are generated by utilizing the clinically validated cutting edge GA-map® software algorithm. This enables immediate results without the need for further bioinformatics work. GA’s vision is to become the leading company for standardized gut microbiota testing worldwide, and GA is committed to help unlocking and restoring the human microbiome through its state-of-the-art technology. GA employs
a team of highly qualified employees with scientific backgrounds and competence in bioinformatics, molecular biology, and bioengineering.


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