Genomic Vision: Financial Information for the Fourth Quarter of 2022

28 Feb 2023 07:00 CET

• Revenue from activity up 5% in 2022 to €1.48 million
• Sales of products and services up 3% in 2022 to €1.03 million
• The Company is well capitalized for the next 12 months

Regulatory News:

Genomic Vision (FR0011799907 – GV, – the “Company”) (Paris:GV), a biotechnology company that develops products and services dedicated to the analysis and control of changes in the genome, today announced its revenue and cash position for the year ended on December 31, 2022¹.

Full Year and Q4 2022 revenue

Total revenue from activity was €1,480 thousand over the year to December 31, 2022, up 5% compared with the year to December 31, 2021, and consisted of:

• sales of products and services of €1,026 thousand in 2022, up 3% compared with 2021, each of the two financial years including the sale of one platform,
• other revenue of €454 thousand over the year ended December 31, 2022, corresponding to Research Tax Credit.

In the fourth quarter of 2022, sales of products and services totaled €258 thousand, down 31% compared with the same period of 2021, due to particularly high activity in the latter period.

________________
¹ Unaudited figures

Financial structure

As of December 31, 2022, Genomic Vision had cash and cash equivalents of €0.76 million versus €0.5 million on September 30, 2022. The cash use of the company is related to the day-to-day activities and the gradual implementation of its strategic plan.

Given the revised assumptions for sales growth as well as the investments in R&D, sales, marketing, general expenses, the associated working capital assumptions and the contract signed with Winance, Genomic Vision has the required resources to continue its business development over the next 12 months.

As disclosed in the press release dated May 20, 2022, the Company signed a contract with Winance to set-up a financing line by issuing convertible bonds (the “OC”) into ordinary shares to each of which will be attached a share subscription warrant (the “BSA” and together with the shares to which they are attached the “ABSA” and with the OC the “OCABSA”), for a maximum total amount of €28.8 million (€30 million nominal value). The extraordinary shareholders meeting of the Company held on May 23, 2022 approved the implementation of this financing line.

The Company can potentially use, as of December 31, 2022, up to €26.88 million (€28 million nominal value) out of its financing program. The main terms of this program structured in 15 tranches of OCABSA are described in the prospectus approved by the Autorité des marchés financiers (AMF) on May 20, 2022 under no. 22-170, consisting of the universal registration document filed on April 14, 2022 under number D.22-0293, the amendment to the universal registration document filed on May 20, 2022 under number D.22-0293-A01, a transaction note and a summary, available at the Company's registered office (80/84 Rue des Meuniers, 92220 Bagneux), on the Company's website (www.genomicvision.com) and on that of the AMF (www.amf-france.org).

The investment and growth financing requirements are based on the following key strategic priorities:

• acceleration in the launch of high value-add applications onto the bioproduction markets and cell & gene therapies markets;
• improvement in the performances and design of new products, notably in bioinformatics to enhance the sales offer;
• rapid strengthening of the Sales teams, by recruiting talented new staff.

Upcoming financial publications²

• FY 2022 results: Thursday April 20, 2023

² Indicative date, subject to change.

ABOUT GENOMIC VISION

GENOMIC VISION is a biotechnology company developing products and services dedicated to the structural and functional analysis of genome modifications as well as to the quality and safety control of these modifications, in particular in genome editing technologies and biomanufacturing processes. Genomic Vision proprietary products and services, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed for high confidence characterization of DNA alteration in the genome. These products and services are also used for monitoring DNA replication in cells to improve anti-cancerous drugs development. Genomic Vision, based near Paris in Bagneux, is a public company listed in compartment C of Euronext’s regulated market in Paris (Euronext: GV – ISIN: FR0011799907).

For further information, please visit www.genomicvision.com

Member of the CAC^® Mid & Small and CAC^® All-Tradable indexes

FORWARD LOOKING STATEMENT

Genomic Vision has set up a financing line in the form of convertible notes with warrants (OCABSA) with Winance, which does not intend to remain a shareholder of the company, after receiving the shares resulting from the conversion or exercise of the securities.

The shares resulting from the conversion or exercise of the aforementioned securities will, in general, be sold on the market very quickly, which is likely to create strong downward pressure on the share price as well as a strong dilution.

Shareholders could therefore suffer a loss of their invested capital due to a significant decrease in the value of the company's shares. The company has carried out several dilutive financing operations, and investors are advised to be very careful before making a decision to invest in the company's securities.

This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the “Risk Factors” section of the universal registration document filed with the AMF on April 14, 2022 under reference number R.22-0293, as updated by the amendment filed with the AMF on May 20, 2022, under number D.22-0293-A01, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements.

This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005911/en/

Genomic Vision
Aaron Bensimon
Président du Conseil d’administration
Tél.: +33 1 49 08 07 51
Email: investisseurs@genomicvision.com

Ulysse Communication
Relations Presse
Bruno Arabian
Tél. : +33 1 42 68 29 70
barabian@ulysse-communication.com

Consilium Strategic Communications
Relations avec les investisseurs internationaux & Communications stratégiques
Tél.: +44 (0) 20 3709 5700
GenomicVision@consilium-comms.com

NewCap
Relation avec les Investisseurs en France
Tél.: +33 1 44 71 94 94
Email: gv@newcap.eu