Free press releases distribution network?

Agency / Source: MDxHealth, Inc.

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

MDxHealth Provides First Quarter 2012 Business Update - Revenue increases 115% over first Quarter 2011 -
MDxHealth Provides First Quarter 2012 Business Update


PRZOOM - /newswire/ - Irvine, CA, United States, 2012/05/16 - Revenue increases 115% over first Quarter 2011 - NYSE Euronext: MDXH

Your Banner Ad Here instead - Showing along with ALL Articles covering Pharma/BioTech/Nutrition Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


MDxHealth SA, a leading molecular diagnostic company that develops and commercializes epigenetic tests to support cancer treatment, today issued its business update for the quarter ended March 31, 2012.

Q1 2012 Highlights:
• Continued Year-over-Year improvement of key financial performance indicators:
• Revenue increased by 115% compared to the same period last year
• Operating loss reduced by 3.1%
• Net loss reduced by 4.1%
• Operating cash utilization increased by 2.5%
• Cash position at the end of the Q1 was EUR 9.6 million or (USD 12.8 Million)
• Company’s California diagnostic laboratory obtained CLIA-registration and state licenses for both California and Maryland.
• Received the Frost & Sullivan 2011 European molecular diagnostics for oncology technology leadership award.
• Licensing partner Predictive Biosciences launched its CertNDx™ bladder cancer test based on MDxHealth’s technology and biomarkers.

Material Events after the Reporting Period
Yesterday, MDxHealth announced the launch of ConfirmMDx™ for Prostate Cancer in the United States. The ConfirmMDx for Prostate Cancer test helps urologists distinguish patients who have a true-negative prostate biopsy from those who may have occult cancer. Testing will be performed in MDxHealth’s state-of-the-art Irvine-based CLIA laboratory for physicians submitting prostate tissue samples directly or via its exclusive co-marketing partner PLUS Diagnostics.

On April 26, 2012, MDxHealth and PLUS Diagnostics entered into a marketing agreement for ConfirmMDx™ for Prostate Cancer. PLUS Diagnostics, a leading anatomic pathology laboratory, will promote MDxHealth’s prostate cancer test through its U.S. urology network, complementing the Company’s direct sales efforts.

“MDxHealth Pharmaco Diagnostic revenues have shown two consecutive quarters of growth. The growth trends are encouraging and momentum in this business segment is strong. Epigenetics, the methods to measure changes in genes beyond those in the DNA sequence, is one of the fastest growing fields in cancer and MDxHealth is striving to be the leader in applying epigenetics in cancer diagnostics. We are investing in the commercialization of our brain and prostate tests while continuing to grow our Pharmaco Diagnostic segment,” said Dr. Jan Groen, Chief Executive Officer of MDxHealth. He went on to say: “Yesterday, we announced the launch in the U.S. of ConfirmMDx for Prostate Cancer, the first clinical product offered from our state-of-the-art Irvine-based CLIA laboratory. Epigenetic markers and technology included in ConfirmMDx for Prostate Cancer have been tested on approximately 4,128 patients with over 42 published studies. We have now hired our own sales team in the U.S. and together with the recent marketing agreement with PLUS Diagnostics, we believe we are on track for successful roll-out of this important test to the urology community. These accomplishments demonstrate our commitment to execute aggressively the new commercial strategy we outlined in October 2010.”

Key non-audited financials, as of 31.03.2012

Amounts as at and for the three months ended
Euro thousands – March 31, 2012 YTD – March 31,2011 YTD
Revenues – 719 – 335
EBITDA Income (Loss) – (1842) – (1930)
EBIT Operating Income (Loss) – (1953) – (2015)
Net Profit (Loss) – (1920) – (2000)
Cash and cash equivalents – 9557 – 9065

Q1 Pharmaco Diagnostic business segment revenue was Euros 582K representing over 81% of total Q1 revenue and growing 203% over Q1 of 2011. Growth in royalty income due in part to Predictive Biosciences’ launch of CertNDx contributed meaningfully to Q1 revenue growth. The remaining revenue came from grants, which is expected to decline as a percentage of the company’s overall revenues in 2012.

Overall spending in Q1 was Euros 2.7 million, up 16.5% over the same period last year. The increase in overall expense was primarily due to the continuing buildup of U.S. commercial operations in anticipation of the launch of the Prostate ConfirmMDx test. The rate of increase in spending to support the U.S. launch of this test will be monitored carefully versus overall company revenue growth, so profitability goals are maintained. First quarter operating loss (EBIT) and the net loss of Euros 1.9 million improved by 3.1% and 4.1%, respectively, over the same period in 2011 due to higher revenues. The Company’s cash and cash equivalents as of March 31, 2012 was Euros 9.6 million which was 5.4% higher as compared to the same period last year as a result of our equity financing in April 2011.

Q2 and FY2012 Outlook
As the Company continues to execute its new commercialization strategy by establishing new collaborative partnerships in Pharmaco Diagnostics and launching its ConfirmMDx for Prostate Cancer test, additional sources of revenue are anticipated during the remainder of this year. In Q2, the Company expects revenue to grow over Q1 and show year-over-year growth for FY2012. This guidance is based on management’s assessment of growth prospects in the current business, anticipation of new Pharmaco opportunities, and today’s launch of the Company’s ConfirmMDx for Prostate Cancer test. The Company expects to release data from a blinded European validation study for ConfirmMDx before the end of this quarter.

About MDxHealth
MDxHealth is a molecular diagnostics company that develops and commercializes advanced epigenetic tests for cancer assessment and the personalized treatment of patients. By applying patented DNA methylation platform and biomarkers, MDxHealth helps to address a large and growing unmet medical need for better cancer diagnosis and treatment information. For more information visit and follow us on Twitter at:

Dr Jan Groen will make a formal presentation on the Company at the 13th annual meeting BioEquity Europe that is taking place on May 15th-16th in Frankfurt, Germany.

Please visit MDxHealth at the American Urology Association Annual Meeting, May 19-23 2012 in Atlanta, GA, booths #3831 and #3923.

Mike Sinclair, Halsin Partners
UK: +44 20 7318 2955 / Cell: +44 7968 022075
E: msinclair[.]

Important information about forward-looking statements
This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation.

Your Banner Ad Here instead - Showing along with ALL Articles covering Pharma/BioTech/Nutrition Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Agency / Source: MDxHealth, Inc.


Availability: All Regions (Including Int'l)


Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker


Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

# # #

  Your Banner Ad showing on ALL
Pharma/BioTech/Nutrition articles,
CATCH Visitors via Your Competitors Announcements!

MDxHealth Provides First Quarter 2012 Business Update

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
MDxHealth, Inc. |
Contact: Dr. Jan Groen - 
949-812-6979 / +32 4 364 20 70 info[.]
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MDxHealth, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Pharma/BioTech/Nutrition via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Read Latest Press Releases From MDxHealth, Inc. / Company Profile

Read Pharma/BioTech/Nutrition Most Recent Related Press Releases:

The 2016 Georges Mathé Prize Recognizes Research on the Immunological Determinants of the Response to Breast Cancer Treatment
MDxHealth Announces Agreement with HIFU CLINIC Prostate Cancer Center for Distribution of SelectMDx in Poland
First Patient in Malaysia Receives TheraSphere™ Radioembolisation Therapy
FDA Approves Genentech’s Lucentis® (Ranibizumab Injection) Prefilled Syringe
BTG and Mirada Medical Announce CE Mark Certification for Simplicit90Y Dosimetry Software in Europe
FDA Grants Priority Review to Genentech’s Lucentis® (Ranibizumab Injection) Supplemental Biologics License Application
Genentech’s TECENTRIQ® (Atezolizumab) Shows Significant Survival Advantage Compared to Chemotherapy
Greenphire Continues Commitment to Clinical Research Site Sustainability and Innovation at Global Site Solutions Summit
Frost & Sullivan Highlights argenx for Enhancing the Therapeutic Qualities of Human Antibodies with its Proprietary Antibody Discovery Platform, SIMPL
FDA Grants Breakthrough Therapy Designation for Genentech’s Actemra® (Tocilizumab) in Giant Cell Arteritis, a Form of Vasculitis

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...


Visit  MagLar, Inc.

Visit  Demyk Lightmod Products, Inc.

Visit  NAKIVO, Inc.

  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution freenewswiredistribution asianewstoday bizwiretoday USA pr UK today