Press Release
Paris, April 30, 2025, 6:00 PM
Quantum Genomics publishes its 2024 annual financial statements and announces a change in listing sponsor
- Availability of the 2024 annual financial report
- New listing sponsor agreement with EuroLand Corporate
- Update on the suspension of the Company's share listing
Quantum Genomics (Euronext Growth - FR0011648971 - ALQGC) (the "Company") today announces its 2024 financial results, approved by the Board of Directors on April 29, 2025, and provides an update on its operational status following the suspension of its share listing on October 25, 2024.
2024 Annual Results (in euros)
| Euros | 2024* | 2023 |
| Revenue | 0 | 10,060 |
| Operating income | 10 | 35,701 |
| EBITDA** | (1,470,238) | (3,128,933) |
| Personnel expenses | (322,303) | (1,578,615) |
| Other operating expenses | (1,145,348) | (1,568,329) |
| Depreciation and provisions | (2,597) | (8,321) |
| Taxes and duties | (2,596) | (17,689) |
| Operating result | (1,472,835) | (3,137,254) |
| Financial result (financial provision) | (7,393,159) | (27,036) |
| Net income | (8,892,603) | (3,170,947) |
*Audited and certified accounts with a note on significant uncertainty regarding going concern.
**EBITDA = Operating result + Depreciation and provisions + Taxes and duties
The Company recalls that it had no commercial activity in 2024 and, consequently, recorded no revenue, compared to €10,060 in 2023.
The change in net income is mainly due to financial impairment provisions, as the Company's equity interest and current account in ExactCure were fully written off following the opening of liquidation proceedings for ExactCure.
The Company's shareholders' equity amounted to (€2,455,941) at the end of the year, compared to €436,664 in 2023.
As of December 31, 2024, the Company's total debt amounted to €2,131,083, consisting of €779,605 in short-term bank debt and €1,351,478 in long-term bank debt.
The Company's cash position was €301,018 as of December 31, 2024, and €150,000 as of April 4, 2025, which covers its working capital needs for the next four months. Beyond this period, Quantum Genomics has no assurance that it can continue operating without new capital or debt financing, which may lead to the Company's liquidation.
The Company's financial results, situation, and outlook are described in detail in the management report included in its annual financial report.
Availability of the Annual Financial Report
In accordance with Euronext Growth Paris regulations, Quantum Genomics today announces the availability to the public and filing with the French Financial Markets Authority (AMF) of its annual financial report as of December 31, 2024.
The 2024 annual financial report includes:
- The management report ;
- The corporate governance report ;
- The Company's annual accounts ;
- The statutory auditors' reports.
The report is available on the Company's website at:
https://quantum-genomics.com/investisseurs/informations-annuelles/
Suspension of the Company's Share Listing
The Company recalls that Akkadian Partners provided €500,000 in financing on September 26, 2024, to (i) allow the Company to exit judicial liquidation proceedings initiated by the former management, and (ii) provide a portfolio of biotech products. A first project submitted to the relevant regulatory authorities was classified as a reverse acquisition by Euronext under the terms of the May 2, 2024, instruction on reverse acquisitions. On October 25, 2024, Euronext suspended trading of the Company's shares under Article 4403/2 of Book I of Euronext Market Rules and Article 7.3.1 of Euronext Growth Market Rules. Trading remains suspended to this day.
The Company remains hopeful about concluding a commercial and/or financial partnership that could enable trading to resume, but currently has no clear visibility on the feasibility or timing of such a project.
The project must meet Euronext's relisting requirements, notably:
- A profitable company capable of assuming Quantum Genomics' €2,130,000 financial debt as of December 31, 2024;
- Ideally, an entity in the healthcare sector, although the Company is open to other relevant opportunities, even if it involves changing business activities. As a reminder, the Company currently has no operational activity.
The trading suspension will remain in effect until the Company meets the relisting conditions and obtains Euronext's approval.
Change in Listing Sponsor
Quantum Genomics announces that as of April 30, 2025, EuroLand Corporate has been appointed as its new listing sponsor, succeeding Allegra Finance.
Contacts
Quantum Genomics is listed on Euronext Growth Paris (FR0011648971 - ALQGC) and on the US OTCQX market (symbol: QNNTF).
More information at: www.quantum-genomics.com
Quantum Genomics
contact@quantum-genomics.com
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