Centogene N.V. Common Shares - CNTG STOCK NEWS

Centogene N.V. (Nasdaq: CNTG) reported Q1 2022 revenues of €10.3 million, a 3% increase from €10.0 million in Q1 2021. The Diagnostics segment grew by 11% to €7.1 million, driven by Whole Exome and Genome Sequencing. The Pharma segment, however, saw a 10% decline to €3.2 million. The phased-out COVID-19 Testing Business generated €19.5 million, down from €55.0 million in Q1 2021. Despite a net loss of €6.4 million, the company maintains its FY 2022 revenue growth guidance of 15-20%, targeting €50-52 million. Notable collaborations were established with Agios and Takeda.

Centogene N.V. (Nasdaq: CNTG) held its Annual General Meeting on June 27, 2022, where shareholders approved all proposals, including the appointment of Miguel Coego Rios as Managing Director and CFO. Shareholders adopted the Dutch statutory annual accounts for 2021 and discharged Management and Supervisory Boards from liability. With 56.4% of issued share capital represented, the meeting emphasized the company's commitment to addressing rare diseases and the potential for future growth.

Centogene N.V. (Nasdaq: CNTG) has appointed Miguel Coego Rios as Managing Director and permanent Chief Financial Officer, effective June 22, 2022. Coego Rios, who was previously the Interim CFO and joined Centogene in February 2022 as EVP Finance & Legal, has extensive experience in the biopharma sector. His focus will be on optimizing operations, enhancing shareholder value, and ensuring financial health. Centogene continues its mission in the rare disease space, leveraging a global data platform for diagnostics and drug development.

Centogene has expanded its collaboration with Agios Pharmaceuticals to include Phase 3 ACTIVATE-kids and ACTIVATE-kidsT studies, focusing on the treatment of pyruvate kinase (PK) deficiency in children under 18. PYRUKYND® (mitapivat), already FDA-approved for adults, represents the first disease-modifying treatment for this rare disorder. Centogene will provide genetic testing and centralized lab support for trials aimed at assessing the drug's efficacy in pediatric patients. This partnership enhances Centogene's role in advancing critical treatments for under-served patient communities.

Centogene has announced that its CentoCloud platform is now CE-marked under the In Vitro Diagnostics Directive (98/79/EC), enabling its commercialization in the European Economic Area (EEA). This cloud-based SaaS solution supports genetic disease diagnostics, using a validated bioinformatics pipeline for Next Generation Sequencing (NGS) data analysis. The CE-marking signifies CentoCloud as one of the few CE-marked IVD software for genomic diagnostics available via the cloud, emphasizing Centogene's dedication to high industry standards and patient access to genetic testing.

Centogene N.V. (Nasdaq: CNTG) has collaborated with various genetic organizations to publish updated Whole Genome Sequencing (WGS) recommendations in the European Journal of Human Genetics. The guidelines aim to standardize clinical applications of WGS tests, facilitating quicker diagnoses and improving health outcomes for rare diseases. With testing conducted on over 650,000 individuals, WGS has gained popularity, contributing to double-digit growth in the number of tests conducted in FY2021. The initiative underscores Centogene's commitment to advancing genetic diagnostics.

Centogene N.V. (Nasdaq: CNTG) has announced its participation in the virtual H.C. Wainwright Global Investment Conference from May 23–26, 2022. The company's management, including CEO Kim Stratton and CFO Miguel Coego, will present and hold one-on-one meetings with investors. A recording of the presentation will be available from May 24, 2022, on Centogene's investor relations website. Centogene focuses on diagnosing and researching rare diseases, utilizing a unique platform with data from over 650,000 individuals across 120 countries.

Centogene extends its partnership with Takeda to provide genetic testing for rare metabolic and neurodegenerative diseases, emphasizing timely diagnosis as key to patient care.

The renewed contract aims to enhance access to diagnostics for lysosomal storage disorders like Fabry and Gaucher diseases. With over 29,000 healthcare professionals in its network and the CENTOGENE Biodatabank, the collaboration seeks to improve treatment outcomes for underserved patient communities globally. This partnership builds on a previous agreement initially made in 2015.

Centogene N.V. (CNTG) reported a 48% revenue growth in FY 2021, totaling €189.9 million, and an 11% increase in its Core Business revenues, reaching €43.5 million. Despite a 39% decrease in Q4 revenues to €42.9 million, driven by a drop in COVID-19 testing, the company noted growth in Pharma and Diagnostics segments. A net loss of €46.9 million was recorded for FY 2021, up from €21.4 million in FY 2020. The company closed a $62 million financing round and anticipates 2022 revenue guidance between €68 million to €70 million, focusing on pharma and diagnostics.