Mainz Biomed N.V. saw revenue increase, operating loss decrease, and net loss decrease in 2024.

From GlobeNewswire: 2025-04-01 08:01:00

Mainz Biomed N.V. reported a 33% increase in lab network revenue year over year, driven by strong demand for ColoAlert® in Europe. Operating loss decreased by 30% and net loss by 18%, attributed to cost reductions and strategic focus. The company highlighted strategic partnerships with industry leaders and early 2025 accomplishments.

In 2024, Mainz Biomed announced key accomplishments, including a collaboration with Thermo Fisher Scientific for next-generation CRC screening. The company also entered into an agreement with Quest Diagnostics for clinical trial services and executed an $8.0 Million follow-on offering. Revenue from lab partner network sales increased by 33%, and operating and net losses decreased.

Mainz Biomed’s eAArly DETECT study results showcased 97% sensitivity for colorectal cancer and 82% for advanced precancerous lesions. The company also presented data at ASCO 2024 confirming high performance. Mainz Biomed expanded collaboration with Liquid Biosciences for a next-generation pancreatic cancer test.

In early 2025, Mainz Biomed enrolled the first patient in the eAArly DETECT 2 study to evaluate the next-gen CRC test. The company also signed a license agreement with Liquid Biosciences for novel mRNA biomarkers for early pancreatic cancer detection. Compliance with Nasdaq listing requirements was confirmed.

Financially, Mainz Biomed reported a gross profit of $574,883 with a gross margin of 64%. Operating expenses totaled $19,270,291, resulting in a net loss of $21,650,663 for 2024. The company’s total assets as of December 31, 2024, were $13,238,167, with total liabilities of $7,191,624 and shareholders’ equity of $6,046,543.



Read more at GlobeNewswire:: Mainz Biomed Reports 2024 Financial Results and Provides