Medigene amends 2022 financial guidance

Planegg/Martinsried – The Executive Management Board of Medigene AG ( https://medigene.com/) (Medigene, FSE: MDG1, Prime Standard), an early stage immuno-oncology platform company focusing on the discovery and development of T cell immunotherapies for solid tumors, today adjusted financial guidance for fiscal year 2022.

The company maintains its guidance on expected revenues to be approximately €30-32 million in 2022.

Research and development costs will increase from prior estimates of €12-14 million to €28-29 million. This is a result of a further write-down of €15.5 million on the drug candidate RhuDex® licensed to Dr. Falk Pharma GmbH, due to the expected termination of the phase 2 clinical study in patients with primary biliary cirrhosis (PBC) by Dr. Falk Pharma.

Estimates for earnings before interest, taxes, depreciation and amortization (EBITDA) remain unchanged and are expected at € 12-14 million.

The company estimates that it is financed into the fourth quarter of 2024 based on current planning (unchanged).

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emitter: Medigene AG
address: Lochhamer Straße 11, 82152 Planegg/Martinsried
country: Germany
contact person: Medigene PR/IR
phone: +49 89 2000 3333 01
e-mail: investor@medigene.com
website: medigene.com

ISIN(s): DE000A1X3W00 (share)
stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Hamburg, free market in Dusseldorf, free market in Hannover; open market in Berlin, Tradegate

[ source: https://www.pressetext.com/news/20230310030 ]