(RTTNews) – Medigene AG (MDGEF.PK), a German oncology platform company, reported Thursday lower revenues in its third quarter.
The company noted that performance in the third quarter as well as the first nine months of 2024 was in line with the Executive Management Board’s expectations.
Revenues amounted to 1.4 million euros in the third quarter, compared to 1.6 million euros in the previous year period, derived primarily from the partnership with BioNTech.
R&D expenses declined to 2.7 million euros from 3.2 million euros a year ago, reflecting the firm’s ongoing commitment to advancing pipeline.
As of September 30, 2024, the company holds cash and cash equivalents in the amount of 9.5 million euros.
CEO Selwyn Ho said, “Overall, we are pleased with the considerable overall progress we have made in the first nine months of 2024 and remain confident in our ability to execute on our strategic plan….”
Looking ahead for fiscal 2024, the company maintained its guidance on expected revenues to be between 9.0 million euros and 11.0 million euros.
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Source : Nasdaq