From GlobeNewswire: 2024-05-08 02:21:00

BioPorto A/S announced strong growth in US sales of The NGAL Test, with a revenue increase of 80% over the prior year for the first quarter of 2024. Total revenue for the period was DKK 9.5 million/USD 1.4 million, with adjusted EBITDA at DKK (15.3) million/USD (2.2) million. The company is transitioning to a growth company and aims to launch ProNephro AKI™ (NGAL) in the US in the second half of 2024.

The company’s CEO, Peter Mørch Eriksen, highlighted the successful milestones achieved in the first quarter of 2024, including extending an agreement with Roche, growing NGAL test revenue in the US, and making progress in the adult submission process. BioPorto plans to launch ProNephro AKI in the US, increase sales, and continue preparations for adult study in the second quarter of 2024. The company maintains its financial guidance for 2024, targeting total revenue of DKK 40 million and an adjusted EBITDA loss of DKK 75-90 million.

Investors can attend an online investor presentation on May 8, 2024, hosted by BioPorto’s management team via HC Andersen Capital. Additionally, a physical investor meeting will be held at Tuborg Havnevej 15, Denmark. BioPorto focuses on creating diagnostics tools to help clinicians make changes in patient management based on biomarkers. The company’s flagship products are based on the NGAL biomarker to aid in risk assessment and diagnosis of Acute Kidney Injury, with the goal of improving clinical and economic outcomes. BioPorto’s shares are listed on the Nasdaq Copenhagen stock exchange.



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