Biotest AG: Biotest increases sales by 26%
DGAP-News: Biotest AG / Key word(s): Quarter Results
Biotest increases sales by 26%
- EBIT strongly improved
- Three promising initiatives to fight against SARS-CoV-2
EBIT improved over the prior-year period by € 11.3 million and reached
At € –11.1 million, the financial result for the first quarter of 2020 was significantly lower than in the same period of the previous year (€ 9.0 million). The main reasons for this were the expenses in the amount of € –3.6 million (income in the same period of the previous year: € 9.9 million) from the fair value adjustments on financial instruments at the balance sheet date, which mainly reflects the surrender claim against trustee from the sale of shares in ADMA Biologics Inc., USA, as well as higher interest expenses due to the new financing agreement closed in 2019.
Earnings after taxes of the Biotest Group therefore de-creased to € -10.8 million in the first quarter of 2020 com-pared with € -1.2 million in the first quarter of the previous year.
Three promising initiatives to fight the COVID-19 infection
1. Due to the great similarity of the clinical picture to the patients treated in the CIGMA study, Biotest sees Trimodulin as having considerable potential for patients with severe pneumonia after a COVID-19 infection. The CIGMA study is a large-scale Phase II study in mechanically ventilated patients with severe pneumonia (severe Community Acquired Pneumonia = sCAP). This group of diseases also includes pneumonia caused by the current coronavirus in critically ill patients. Trimodulin is administered as an adjunct to standard therapy such as antiviral or antibiotic therapy, and intensive care. In the CIGMA study, a relative reduction in mortality of 50-70% was observed in a sub-group of patients with high inflammation markers or reduced immune function. The same conditions also occur in COVID-19 patients with severe course of the disease. That is why Biotest is now expanding its planned phase III study in sCAP to include COVID-19 patients. At the same time, an accelerated phase II study in COVID-19 patients is planned in order to drastically accelerate the development in response to the current COVID-19 pandemic. Biotest has al-ready applied for European funding for the activities necessary to speed up the development.
2. In addition, Biotest is working on a new medication against COVID-19 derived from hyperimmune plasma. A test is currently being developed that is intended to screen all plasma donations for antibodies against COVID-19. The donations with the most antibodies can then be used in a production pool for a new hyperimmunoglobulin against COVID-19. This medication could then be used therapeutically for severe courses of COVID-19. In this context, Biotest has en-tered into an industry-wide cooperation. Together with Bio Products Laboratory, CSL, LFB, Octapharma and Takeda, the alliance aims to develop a non-company specific trademarked polyclonal hyper-immunoglobulin medication against SARS-CoV-2.
3. The Hungarian subsidiary of Biotest AG has been exclusively retained by the national Hungarian Health Initiative to collect plasma from convalescent Covid-19 patients. This convalescent plasma contains a high titer of specific anti-bodies against SARS-CoV-2 virus and can be used as therapeutic for very sick Covid-19 patients.
The Quarterly statement is available on the company's website at
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
08.05.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.