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Theradiag 2019 Revenues Grow 8 Percent

NEW YORK – French firm Theradiag said on Wednesday that its full-year 2019 revenues grew 8 percent year over year.

For the 12 months ended Dec. 31, 2019, Theradiag posted €9.6 million ($10.4 million) in total revenues, up from €8.9 million in 2018. Theranostics revenues grew 10 percent while in vitro diagnostic revenues were up 6 percent.

The Paris-based company noted that it restated its 2018 financial statement due to changes in consolidation.

The growth in Theranostics was driven by sales of LISA Tracker kits, while its IVD growth included "important non-recurring instrumentation sales" in the first half of 2019. Excluding this, core IVD sales were down "slightly as expected," Theradiag said, adding it is pursuing a strategy focused on "niche specialties" including genetics and male fertility in addition to its core autoimmunity business.

For 2019, the company had a net income of €349,000 compared to a net loss of €786,000 in 2018.

Theradiag had net cash of €2.9 million at the end of 2019.