EQS-News: Marinomed Biotech AG announces preliminary revenue for 2022 with double-digit growth for Carragelose

EQS-News: Marinomed Biotech AG / Key word(s): Preliminary Results
Marinomed Biotech AG announces preliminary revenue for 2022 with
double-digit growth for Carragelose

16.02.2023 / 07:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Marinomed Biotech AG announces preliminary revenue for 2022 with
double-digit growth for Carragelose

• Major strategic developments in 2022 to boost future growth
• Preliminary revenues stable at € 11.3 m for 2022 (2021: € 11.6 m)
despite lack of milestone payments in 2022
• Adjusted for the milestone payment in 2021, underlying revenues have
increased by 16.5 %
• Stable cash position with € 8.2 m and low cash drain

Korneuburg, Austria, 16 February 2023 – Marinomed Biotech AG, listed on
the Vienna Stock Exchange (VSE:MARI), achieved important progress in
strategic growth projects and a further increase in demand for Carragelose
products in 2022. According to preliminary figures, Carragelose revenues
were up by 15.5% to € 11.2 m (2021: € 9.7 m). This positive development
resulted in stable preliminary revenues of € 11.3 m for the full year
(2021: € 11.6 m) despite the lack of milestone payments in 2022. Adjusted
for the Budesolv milestone payment of € 1.9 m in 2021, revenues have
increased by 16.5 %. Cash and cash equivalents increased to € 8.2 m (2021:
€ 5.8 m; +41%), reflecting a low cash burn-rate throughout 2022 due to
profitable revenues and inflows from loans, real estate financings and the
convertible bond program with Nice & Green.

Dr. Andreas Grassauer, CEO of Marinomed, says: „In 2022, we signed our
most important Carragelose deal to date with Procter & Gamble for the US
market and further strengthened the existing partner network. Both P&G and
Marinomed currently invest significant resources to successfully enter the
largest OTC-market with Carragelose products. At the same time, we are
proud to have again been able to grow our Carragelose revenues by a
double-digit percentage for the fourth year in a row. While many drugs and
medical products were and are affected by supply bottlenecks, Marinomed
was able to constantly supply all customers with Carragelose products. We
also made great progress in business development for our SOLV4U unit with
three new projects entering the next phase. For 2023, we expect to secure
further partnerships for Tacrosolv and Budesolv. Our success in 2022 is a
solid base for future growth and a testament to the hard work and
dedication of our employees to delivering high-quality solutions for
patients.“

“Although 2022 remained dominated by a difficult economic environment and
supply chain challenges, our Carragelose segment represented a stable
growing source of income with further double-digit increase in revenue.
Our cash position and reach remain comfortable. Neither rising interest
rates nor the inflation had an effect on our financial position due to
fixed-interest loans, and the ability to pass on price increases. Overall,
our strong financial position lays a stable foundation for the company’s
continued growth and success in 2023. With a positive outlook for the
first half of 2023, we make again use of the flexibility of the Nice &
Green convertible note funding program and suspend the drawdown of the
next tranches,” Marinomed’s CFO Pascal Schmidt added.

Note: All values rating to 2022 are preliminary and rounded. The 2022 full
year results will be published on April 19^th, 2023.

About Marinomed Biotech AG:

Marinomed Biotech AG is an Austrian, science-based biotech company with a
growing development pipeline and globally marketed therapeutics. The
Company develops innovative patent-protected products in the therapeutic
areas immunology and virology based on the platform Marinosolv® and the
virus-blocking activity of iota-carrageenan. The Marinosolv® technology
improves the solubility and bioavailability of hardly soluble compounds
and is used to develop new therapeutics for autoreactive immune disorders.
The virology segment includes Carragelose®-based over-the-counter (OTC)
products to prevent and treat respiratory viral infections that are
partnered in more than 40 countries. Marinomed also develops drugs for
other serious viral infectious diseases based on iota-carrageenan. The
Company is headquartered in Korneuburg, Austria, and is listed on the
prime market of the Vienna Stock Exchange (VSE:MARI). For further
information, please visit: [1] https://www.marinomed.com.

For further inquiries contact:

Marinomed Biotech AG International Media Contact
PR: Lucia Mayr-Harting Metrum Communications: Roland Mayrl
T: +43 2262 90300 158 T: +43 664 6126228
E-Mail: [2]pr@marinomed.com E-Mail: [4]marinomed@metrum.at
IR: Stephanie Kniep  
T: +43 2262 90300 226
E-Mail: [3]ir@marinomed.com

Disclaimer

This press release contains forward-looking statements, which are based on
current views, expectations and projections of the management of Marinomed
Biotech AG about future events. These forward-looking statements are
subject to risks, uncertainties and assumptions that could cause actual
results, performance or events to differ materially from those described
in, or expressed or implied by, such statements. The current views,
expectations and projections of the management of Marinomed Biotech AG may
be identified by the context of such statements or words such as
“anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project”
and “target”. Forward-looking statements are only valid as of the date
they are made and Marinomed Biotech AG does not assume any obligation to
update, review or revise any forward-looking statements contained in this
press release whether as a result of new information, future developments
or otherwise. Marinomed, Marinosolv® and Carragelose® are registered
trademarks of Marinomed Biotech AG. These trademarks may be owned or
licensed in select locations only

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16.02.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: Marinomed Biotech AG
Hovengasse 25
2100 Korneuburg
Austria
Phone: +43 2262 90300
E-mail: office@marinomed.com
Internet: www.marinomed.com
ISIN: ATMARINOMED6
WKN: A2N9MM
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange
(Official Market)
EQS News ID: 1560965

 
End of News EQS News Service

1560965  16.02.2023 CET/CEST

References

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2. pr@marinomed.com
3. ir@marinomed.com
4. marinomed@metrum.at

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