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MediGene Posts Wider EBITDA Loss In H1; Revenue Down 35% - Quick Facts

(RTTNews) - MediGene AG (MDGEF.PK) reported a first half negative EBITDA of 11.3 million euros compared to negative EBITDA adjusted of 8.5 million euros, prior year. The company said negative EBITDA increased due to lower revenues and slightly higher R&D costs. First half revenue decreased by 35% to 3.67 million euros.

For 2020, the company confirmed its financial guidance and continues to expect total revenue of 7 million euros - 9 million euros, R&D expenses of 24 million euros - 29 million euros and an EBITDA loss of 19 million euros - 27 million euros.

By the end of 2020, Medigene expects to complete dosing of the first three dose cohorts of the Phase I part of the Phase I/II trial of MDG1011 in acute myeloid leukemia and myelodysplastic syndrome.

Medigene noted that the company has sufficient financial resources to fund business operations until the end of 2021.
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