MARTINSRIED (dpa-AFX) - German biotechnology company Medigene Ag ( MDGEF.PK) Thursday reported narrower loss for the first half year, influenced by significant growth in revenues. The company's revenue from drug Veregen alone, rose 36 percent year-on-year. In addition, the company confirmed its full-year forecast. The net loss for the period came down by 50 percent to 2.8 million euros from 5.7 million euros loss last year.
The group's loss before interest, tax, depreciation and amortization dropped by 62 percent to 1.6 million euros from 4.3 million euros.
Total revenue for the period increased 90 percent to 6.1 million euros from 3.2 million euros a year ago. Revenue from the marketed drug Veregen increased to 2.6 million euros from 1.9 million euros last year.
The company still expects annual EBITDA loss to significantly reduce to 4 million euros - 6 million euros and expects a further double-digit percentage increase in total revenues.
Copyright RTT News/dpa-AFX