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Theradiag Posts 9 Percent Increase in H1 2019 Revenues

NEW YORK — French diagnostics and theranostics firm Theradiag on Thursday reported a 9 percent year-over-year increase in revenues for the first half of 2019 on increased sales across its business segments.

For the six-month period ended June 30, Theradiag's revenues climbed to €5.0 million ($5.6 million) from €4.6 million the year before. 

Sales of the firm's Lisa Tracker drug response monitoring kits for routine use were up 11 percent to €2.0 million from €1.8 million, while theranostics revenues rose 12 percent to €2.1 million from €1.8 million year over year. Revenues from Theradiag's in vitro diagnostics business, meanwhile, were up 7 percent to €2.9 million from €2.7 million and included significant non-recurring instrumentation sales.

"The growth recorded in the first half is encouraging, and reflects the efforts made at the start of the year to set up business agreements and continue to develop our unique range of monitoring tests," Theradiag CEO Bertrand de Castelnau said in a statement. He added that the company expects to return to profitability by the end of 2019.

Earlier this year, Theradiag signed an agreement through which it launched its Tracker biotherapy monitoring product line on Immunodiagnostic Systems' IDS-i10 automation system. Under the deal, Immunodiagnostic is also distributing the Tracker technology in 33 countries.