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Curetis Preliminary 2019 Revenues Up 64 Percent

NEW YORK – Molecular diagnostics developer Curetis said on Thursday that its preliminary revenues for fiscal year 2019 rose 64 percent to €2.3 million ($2.5 million) from €1.4 million in 2018.

The company said that this revenue was realized from a total contract order volume of about €3.4 million received in 2019 compared to contract order volume of €1.1 million in 2018. Revenue growth in 2019 was primarily driven by collaborations undertaken by Curetis subsidiary Ares Genetics, as well as increased uptake of Curetis' Unyvero product line, the company said.

Curetis is also in the process of being acquired by OpGen. Had the merger taken place at the start of 2019, combined revenues for both companies would have been approximately $6 million for the fiscal year, a 31 percent increase from approximately $4.6 million in 2018, according to OpGen.

"We are encouraged by the significant progress of our business in 2019 and of our planned business combination with OpGen," Curetis CEO Oliver Schacht said in a statement. "The initial launch of the new Unyvero LRT BAL panel opens a significant additional opportunity in the US market. Several prestigious medical centers, including a major cancer center and a large academic institution, have already committed to evaluate the Unyvero LRT BAL panel for routine use in patients hospitalized for suspected pneumonia."