Medigene AG: Medigene amends 2022 financial guidance
Planegg/Martinsried (10.03.2023) - The Executive Management Board of Medigene AG (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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Medigene AG
Lochhamer Straße 11
82152 Planegg/Martinsried
Germany
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