MARTINSRIED (dpa-AFX) - Medigene AG (MDGEF.PK), on Thursday, reported first-half revenue of EUR 4.3 million, 17% higher than the previous year's revenue of EUR 3.7 million.
EBITDA improved by 61 percent to a negative 4.5 million euros from last year's negative 11.3 million euros, due to the realignment and associated efficiency measures.
Further, the company confirmed the financial guidance, and continues to project total revenues in the range of EUR 7 million - EUR 9 million, R&D expenses of EUR 14 million - EUR 20 million and negative EBITDA of EUR10 million - EUR 17 million in 2021, without the COVID-19 pandemic having a material impact on these expectations.
As of 30 June 2021, cash and cash equivalents and time deposits amounted to EUR 22.2 million versus EUR 30.0 million as at 31 December 2020. Based on its current planning, the company said it has sufficient financial resources to fund business operations into the third quarter of 2022.
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