Genetico’s performance for 9 months of 2024 according to RAS

GENETICO Center for Genetics and Reproductive Medicine (MOEX: GECO) has published its performance statement for the first 9 months of 2024 in accordance with Russian Accounting Standards (RAS).

Genetico, a resident of Skolkovo and the Medtech Moscow Center for Innovation in Healthcare, is a member of the Artgen Biotech Group (MOEX: ABIO). The company works in the field of medical genetics and genetic research, implementing into medical practice innovative solutions for the diagnosis, prevention, and treatment of genetic and socially significant diseases.

Over the first 9 months of 2024, the Company’s revenue increased by 18.6% compared to the same period in 2023, reaching RUB 297,009 thousand. Sales profit for the first 9 months of 2024 increased by 535.4%, amounting to RUB 10,744 thousand. EBITDA was RUB 45,995 thousand (15.5% of revenue). Net loss for the first 9 months of 2024 decreased by 70.4% compared to the same period in 2023.

Key events during the first 9 months of 2024:

• Genetico’s shares were included in the new Moscow Exchange IPO index. The index code is MIPO. In July, the Moscow Exchange listed the first exchange-traded fund for the IPO index.
• Genetico continues to build a portfolio of gene therapy drugs for treating orphan diseases. It is developing candidate drugs for the treatment of ophthalmological diseases, hereditary cardiomyopathies, and neurodegenerative diseases.
• Genetico develops its own assays for early diagnosis and prevention of various diseases. In 2023, Prenetix (NIPT) was approved by Roszdravnadzor for use as a medical device for detecting chromosomal abnormalities of the fetus using the mother’s blood. The company also expects to receive approval for its other test systems, Embryotest, Onconetix, and Ixom, in 2024 and 2025.
• Genetico continues to work on including state-of-the-art methods for preventing, diagnosing, and treating genetic diseases in compulsory medical insurance (OMS). In February, the Medtech Moscow Center for Innovation in Healthcare held a conference on Organizational and Regulatory Issues of Implementing NIPT into the Public Insurance System.” In May, industry leaders discussed the importance of including genetic embryo testing in compulsory medical insurance.
• Genetico shareholders decided to increase the company’s authorized capital by RUB 70,000 (seventy thousand rubles). The authorized capital will be increased by issuing 7 million additional ordinary shares by closed subscription. The share par value will be RUB 0.01. At the private placement, Genetico shares will be bought out by the Artgen Biotech Group. As a result, the Artgen Biotech Group’s share in Genetico will increase from 76.25% currently to 78.10%.

Key financial statement indicators

Key balance sheet indicators