Ad-hoc release according to Section 15 German Securities Trading Act
Martinsried/Munich, 11 March 2015. Medigene AG (MDG1, Frankfurt, Prime Standard) published preliminary financial results for the fiscal year 2014. The company significantly improved its revenue, EBITDA and net result during this period.
Medigene's total revenue rose by 82% to EUR 13.8 m (2013: EUR 7.6 m). Revenue from the marketed drug Veregen® increased by 23% to EUR 5.2 m (2013: EUR 4.2 m). Other operating income includes EUR 2.7 m for a milestone achieved at the end of 2014 for the partnered drug candidate EndoTAG®-1 which was not included in the company's financial guidance.
The company reduced its EBITDA loss by 75% to EUR 2.1 m (2013: EUR 8.3 m). The net loss was reduced by 44% to EUR 5.8 m (2013: EUR 10.3 m).
With these preliminary results, Medigene exceeded its financial forecast announced at the beginning of 2014. The company had guided an increase in total revenue by 20-30% compared to 2013, Veregen® revenues of EUR 5-6 m and an EBITDA-loss of EUR 4-6 m.
Final results for 2014 and further details will be published with the annual report of Medigene on 25 March 2015 as planned.
Contact Medigene AG
Julia Hofmann, Anja Clausnitzer
Tel.: +49 - 89 - 20 00 33 - 33 01