Epigenomics AG / Key word(s): Strategic Company Decision/Change in Forecast
17-Aug-2021 / 21:00 CET/CEST
Epigenomics AG: Execution of a Biobank Sale Agreement and Update of Guidance
Berlin, Germany, August 17, 2021 – Today Epigenomics AG (Frankfurt Prime Standard: ECX, OTCQX: EPGNY; the “Company”) has entered into an agreement with New Horizon Health Limited (6606.HK) on the sale of certain non-essential biological samples. Gross proceeds from the sale are USD 6.7 million from which Epigenomics receives USD 4.7 million at closing and the remainder is payable within 90 days based upon the Company providing verification of sample integrity and documentation. The Company is retaining all necessary samples for the on-going development of Epi proColon Next-Gen and other R&D activities. As a result of the sale, the Company is updating its current full year 2021 revenue and earnings guidance to approximately EUR 6.0 million of revenue and EUR -3.0 million to EUR -4.0 million of EBITDA before share-based payment expenses. Cash consumption in 2021 is expected to be between EUR 3.5 million and EUR 4.5 million.
Further information on the aforementioned operating figures can be found at https://www.epigenomics.com/news-investors/financial-reports/.
This publication expressly or implicitly contains forward-looking statements concerning Epigenomics AG and its business. These statements involve certain known and unknown risks, uncertainties and other factors that may cause Epigenomics AG’s actual results, financial condition and performance to be materially different from any future results, performance or achievements expressed or implied by such statements. Epigenomics makes this announcement as of the date of this release and does not intend to update any forward-looking statements contained herein as a result of new information or future events or otherwise.
|Phone:||+49 30 24345-0|
|Fax:||+49 30 24345-555|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1227182|
|End of Announcement||DGAP News Service|