Epigenomics AG / Key word(s): Change in Forecast/Forecast
Publication of inside information pursuant to Article 17 MAR
Epigenomics AG: Raise of earnings guidance for the current fiscal year 2022 due to currency gains and lower study costs
Berlin, September 19, 2022 - The Executive Board of Epigenomics AG (Frankfurt Prime Standard: ECX, OTCQX: EPGNY; the "Company") raises its earnings guidance for the current fiscal year 2022 due to currency gains and efficiencies in study initiation costs. The currency translation gains are due to good currency management in connection with the positive development of the U.S. dollar. The initial set-up costs for the prospective FDA pivotal study for Epi proColon "Next-Gen", for which the first subject was recently enrolled, were lower than anticipated.
For the full year 2022, the Executive Board now expects adjusted EBITDA (before share-based payment expenses) to be within the range of EUR -10.5 million to EUR -11.5 million and cash consumption in the range of EUR -14.5 million to EUR -15.5 million. Previously, the Company expected EBITDA (before share-based payment expenses) and cash consumption to range from EUR -15.0 million to EUR -17.0 million. The revenue forecast remains unchanged between EUR 0.3 million to EUR 0.8 million.
Note on forward-looking statements
This publication expressly or implicitly contains forward-looking statements concerning Epigenomics AG and its business. These statements involve certain known and unknown risks, uncertainties and other factors that may cause Epigenomics AG's actual results, financial condition and performance to be materially different from any future results, performance or achievements expressed or implied by such statements. Epigenomics makes this announcement as of the date of this release and does not intend to update any forward-looking statements contained herein as a result of new information or future events or otherwise.
19-Sep-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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