Martinsried/Munich (pta034/27.05.2020/18:25) - 27 May 2020. The Executive Board of Medigene AG (Medigene, FSE: MDG1, Prime Standard) today decided to adjust its previous 2020 full-year guidance with lower research and development expenses resulting in improved earnings before interest, taxes, depreciation, and amortization (EBITDA).
Medigene's core development programs continue despite the ongoing COVID-19 pandemic. Total revenue guidance remains unchanged at EUR 7 - 9 m. Previous guidance for research and development expenses was based on certain conservative assumptions. However, with the experience of the past months, additional operating efficiencies, and the goal to extend the cash runway through cost savings as a cautionary measure during COVID-19 times, Medigene's guidance for research and development expenses is hereby reduced to the range of Eur24 - 29 m (previously Eur29 - 34 m). Consequently, the guidance for the anticipated EBITDA loss improves to the range of Eur19 - 27 m (previously EBITDA loss of Eur24 - 32 m).
Based on this planning, the Company is financed until end of 2021.
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