CENTOGENE Reports Fourth Quarter and Full Year 2021 Financial Results
- Full Year 2021 Total Revenue Growth of 48%, and 11% in Core Business Segments, Exceeds Guidance
- Focus on Pharma and Diagnostics to Position for Strong Performance in 2022
- Closed $62 Million Financing Round and on Track to Exit COVID-19 Business
- Management to Host Conference Call at 2 p.m. CET/8 a.m. ET Today
CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, March 30, 2022 (GLOBE NEWSWIRE) -- Centogene N.V. (Nasdaq: CNTG), a commercial-stage company focused on generating data-driven insights to diagnose, understand, and treat rare diseases, today announced financial results for the fourth quarter and fiscal year ended December 31, 2021, and provided a business update.
“2021 was a transformative year, during which we further reinforced our position as the partner of choice for partners seeking innovative, new approaches to diagnose and treat rare and neurodegenerative diseases,” stated Kim Stratton, Chief Executive Officer at CENTOGENE. “In the fourth quarter of 2021, we recorded solid quarter-over-quarter revenue growth in our core business diagnostics and pharma. We are well positioned and anticipate continued strengthening of our core business through 2022, as we specifically focus on biopharma to deliver on existing partnerships, while also expanding and converting our pipeline of partnership opportunities. Our commitment to maintaining our position as the partner with the most comprehensive clinically relevant data set available for research and development purposes in rare and neurodegenerative diseases remains resolute.”
Fourth Quarter 2021 Financial Highlights
Full Year 2021 Financial Highlights
“We are pleased to have exceeded the revenue guidance we forecasted for the year 2021. With the completion of the financing earlier this year, CENTOGENE is operating from a stable financial position, allowing us to deliver on our strategic initiatives, while ensuring effciency and prudence in our operational execution,” added Miguel Coego, EVP Finance & Legal and Interim Chief Financial Officer of CENTOGENE.
Recent Business Highlights
2022 Financial Guidance
The Company has issued 2022 annual guidance and expects total revenues to be in the range of €68 million to €70 million. The portion of total revenues derived from COVID-19 testing is expected to be approximately €18 million with expected phaseout at the end of Q1 2022. The Company expects year-over-year growth in Core Business revenues (i.e., revenues derived from the Pharma and Diagnostics segments) to be between 15% to 20%.
Conference Call Information
Management will host a conference call at 2 p.m. CET/8 a.m. ET on March 30, 2022, to discuss financial results and recent developments. To access the conference call and webcast, please register at: http://emea.directeventreg.com/registration/5737758
Upon registering, each participant will be provided with Participant Dial-in information, a Direct Event Passcode, and a unique Registrant ID. Registrants can then join up to 10 minutes prior to the start of the call.
The webcast of the conference call will also be available on the Investor Relations page of the Company’s website at http://investors.centogene.com.
CENTOGENE engages in diagnosis and research around rare diseases transforming real-world clinical, genetic, and multiomic data to diagnose, understand, and treat rare diseases. Our goal is to bring rationality to treatment decisions and to accelerate the development of new orphan drugs by using our extensive rare disease knowledge and data. CENTOGENE has developed a global proprietary rare disease platform based on our real-world data repository of over 650,000 individuals representing over 120 different countries.
The Company’s platform includes epidemiologic, phenotypic, and genetic data that reflects a global population, as well as a biobank of patients’ blood samples and cell cultures. CENTOGENE believes this represents the only platform focused on comprehensive analysis of multi-level data to improve the understanding of rare hereditary diseases. It allows for better identification and stratification of patients and their underlying diseases to enable and accelerate discovery, development, and access to orphan drugs. As of December 31, 2021, the Company collaborated with over 30 pharmaceutical partners.
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This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project,” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” and “may,” are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause CENTOGENE’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, negative economic and geopolitical conditions and instability and volatility in the worldwide financial markets, possible changes in current and proposed legislation, regulations and governmental policies, pressures from increasing competition and consolidation in our industry, the expense and uncertainty of regulatory approval, including from the U.S. Food and Drug Administration, our reliance on third parties and collaboration partners, including our ability to manage growth and enter into new client relationships, our dependency on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations of our operating results due to the effect of exchange rates, our ability to streamline cash usage, our requirement for additional financing, or other factors. For further information on the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to CENTOGENE’s business in general, see CENTOGENE’s risk factors set forth in CENTOGENE’s Form 20-F filed on March 30, 2022, with the Securities and Exchange Commission (the “SEC”) and subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and CENTOGENE’s specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.