Centogene N.V. Common Shares - CNTG STOCK NEWS

CENTOGENE (OTC: CNTGF) announced the results of its Extraordinary General Meeting, where shareholders approved all proposed resolutions. The key highlight was the approval of the previously announced sale and transfer of Centogene GmbH to Charme Capital Partners , a pan-European private equity firm. The meeting had a representation of 57.16% of the Company's issued share capital.

CENTOGENE has announced a strategic sale of its operating subsidiaries to Charme Capital Partners for EUR 8.7 million. The transaction, expected to close in Q1 2025, includes a premium of up to 25% over the company's closing price. The deal involves funding from Saudi Arabian joint venture Lifera Omics and relief from Oxford Finance liabilities. Following the transaction, CENTOGENE N.V. plans to liquidate remaining subsidiaries, with shareholders expected to receive up to $0.20 per share in liquidation distribution. The company has secured approximately 57% shareholder support for the transaction, which requires majority approval at an upcoming Extraordinary General Meeting in December 2024.

CENTOGENE has published data from its Rostock International Parkinson's Disease (ROPAD) Study in The Lancet Neurology, supporting the association of a RAB32 gene mutation with Parkinson's disease (PD). The study analyzed Whole Genome Sequencing data from 3,354 PD patients, revealing that nine patients (0.3% of the cohort) carried the RAB32 c.213C>G mutation. This prevalence is significantly higher than the 0.002% found in general population databases.

Key findings include:

• The mutation's causal role in Parkinson's disease is supported
• Age at onset did not differ between mutation-positives and negatives
• Gender proportions and certain clinical characteristics differed
• The RAB32 Ser71Arg-associated haplotype supports a single founder mutational event

CENTOGENE has launched a ROPAD Consortium to continue driving PD research and treatment through collaborative efforts, aiming to streamline access to critical data and improve the potential for advancing treatment options.

CENTOGENE N.V., a life science company specializing in rare and neurodegenerative diseases, has received a delisting notice from Nasdaq due to non-compliance with the minimum USD 15 million market value requirement for publicly held shares. Trading of CENTOGENE's common stock on Nasdaq will be suspended on August 8, 2024. The company expects to begin trading on the OTC Markets Group platform under the symbol 'CNTGF' on the same day.

CENTOGENE has also applied to trade on the OTCQX Market in the coming weeks. The company does not plan to request a review of Nasdaq's decision. Despite ongoing efforts to complete a sale transaction as part of its strategic alternatives review process, CENTOGENE was unable to meet the compliance deadline of August 26, 2024, set by the Nasdaq panel.

CENTOGENE N.V. (Nasdaq: CNTG) has published groundbreaking data from its Rostock International Parkinson's Disease (ROPAD) Study in the Brain journal. The study reveals that approximately 15% of Parkinson's disease (PD) cases are linked to genetic factors, with about 90% of these genetically confirmed patients having variants in the LRRK2 or GBA1 genes. This discovery highlights the importance of genetic testing in PD patient care and opens up possibilities for gene-targeted clinical trials.

The study, which involved over 12,500 patients from 16 countries, investigated variants in 50 genes associated with PD. The findings underscore the need to integrate genetic testing into routine care for PD patients, potentially enabling access to available treatments and accelerating the development of gene-specific therapies. CENTOGENE has also launched a ROPAD Consortium to further drive PD research and treatment through collaborative efforts.

Critical Path Institute (C-Path) and Centogene (Nasdaq: CNTG) have signed a Memorandum of Understanding (MOU) to collaborate on drug development for lysosomal diseases (LDs). The partnership aims to leverage genetic and real-world data (RWD) to overcome barriers in developing therapies for LDs, such as Niemann-Pick disease type C, Gaucher disease types 2 and 3, and mucopolysaccharidosis type II.

CENTOGENE, a leader in genomic and multiomic testing, will provide genetic testing services, sample analysis reporting, and access to its extensive Biodatabank. C-Path will use its collaborative work groups to create tools that help drug developers. The partnership is expected to advance the development of safe and effective therapies for LDs, enhancing the quality of life for affected patients.

CENTOGENE (Nasdaq: CNTG) announced the adoption of all resolutions at its 2024 Annual General Meeting. Shareholders approved an extension for drafting annual accounts and board reports for the 2023 financial year. Ernst & Young Accountants LLP was appointed as the external auditor for the 2024 financial year. Additionally, a revised compensation structure for the Supervisory Board was adopted. The Management Board's authority to issue shares, grant subscription rights, limit/exclude pre-emption rights, and acquire shares and depository receipts was also extended.

Centogene (NASDAQ: CNTG) reported a 2% increase in total revenues for FY2023, reaching €48.5 million. The Diagnostics segment saw an 8% revenue increase to €33.7 million, while Pharma segment revenues decreased by 8% to €14.8 million. The company's gross profit margin fell to 36%, and its net loss increased by 12.2% to €35.8 million.

Centogene secured approximately $20 million and strengthened its cash position through collaborations with Lifera. The company also expanded its Biodatabank and launched several new diagnostic tools. Guidance for FY2024 predicts revenue growth between 10-15%.

Despite delays in Pharma timelines, Centogene is optimistic about 2024, expecting steady growth in its Diagnostics business and a strong Pharma orderbook. Strategic alternatives are being explored to create long-term value.

Centogene (Nasdaq: CNTG) has secured approximately $20 million in funding through an expanded relationship with Lifera, a biopharma company owned by Saudi Arabia's Public Investment Fund (PIF). This includes a $15 million purchase of Centogene’s accounts receivables and additional investments in their joint venture. The financing bolsters Centogene’s liquidity, supporting operations and strategic initiatives, and aims to help the company achieve EBITDA breakeven by year-end. Adjustments to a previous $30 million convertible loan from Lifera include extending the loan to 24 months and partial conversion at $0.79.