Epigenomics announces financial results
Epigenomics AG (EPGNY) announced its financial results for the first half and second quarter of 2013 ending June 30.
- Revenue in Q2 2013 increased by 120% to EUR 343 thousand compared to Q2 2012
- Operating costs decreased by 44% to EUR 2,098 thousand over Q2 2012
- EBIT in Q2 improved by 53% to EUR -1,607 thousand compared to Q2 2012
- Net cash flow in H1 2013 positive due to successful capital increase in January
- Level 1 ADR program established
“In the first half of 2013, we were pleased to see growing sales of our blood-based colorectal cancer (CRC) test, Epi proColon® in the European and Asian markets, demonstrating growing acceptance of this product. At the same time, we have continued to focus on the approval process at the U.S. Food and Drug Administration (FDA). A series of facility inspections by the FDA have been conducted and we are currently in a constructive dialogue with the agency, awaiting additional feedback on the review process and news regarding the expected advisory board panel meeting date in the near future. We remain confident and anticipate the approval decision regarding our lead product within the second half of this year”, said Dr. Thomas Taapken, CEO/CFO of Epigenomics AG.
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