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MDxHealth SA is a leading multinational healthcare company specializing in providing molecular diagnostic information to personalize cancer diagnosis and treatment. The company leverages proprietary genomic, epigenetic, and other molecular technologies to offer a range of tests that support physicians in diagnosing urologic cancers, assessing the recurrence risk, and predicting responses to specific therapies.
The company's primary revenue streams include clinical laboratory service testing and the out-licensing of its patented DNA methylation platform and biomarkers. MDxHealth's operations span globally, with significant revenue contributions from the United States and Europe.
Recent Achievements:
- Expansion of proprietary test offerings for more comprehensive cancer diagnostics.
- Strategic partnerships with leading healthcare providers to enhance test accessibility and reliability.
- Continuous innovation in molecular technologies to maintain a competitive edge in the diagnostics market.
MDxHealth's current projects aim to further refine their diagnostic tools and expand their market reach. The company's financial condition remains strong, as evidenced by their latest unaudited condensed consolidated statements of profit or loss, financial position, and cash flows.
MDxHealth reported strong Q3 2024 results with revenue reaching $23.3 million, up 21% year-over-year. The company raised its 2024 revenue guidance to $87-89 million, representing 25% growth. Test volumes showed significant increases with tissue-based tests up 36% and liquid-based tests up 24%. The company strengthened its balance sheet through a $40 million equity offering, resulting in pro-forma cash of $53.5 million. Despite revenue growth, operating loss increased 34% to $6.1 million, and net loss rose 11% to $11.2 million. The company expects to turn adjusted EBITDA positive in first half of 2025.
MDxHealth SA (NASDAQ: MDXH), a commercial-stage precision diagnostics company, has announced it will release its financial results for the third quarter ended September 30, 2024, after market close on Wednesday, November 6, 2024. The company will host a conference call with live Q&A on the same day at 4:30pm ET / 22:30 CET.
The conference call will feature Michael K. McGarrity, Chief Executive Officer, and Ron Kalfus, Chief Financial Officer. Interested parties can access the call through various dial-in numbers provided for different countries or via a webcast link. A replay of the webcast will be available on the company's website following the conclusion of the live call.
MDxHealth SA (NASDAQ: MDXH) has announced the pricing of a registered public offering of 20,000,000 ordinary shares at $2.00 per share, aiming to raise $40.0 million in gross proceeds. The offering includes a strategic partner purchasing 1,500,000 shares directly from the company. MDxHealth has granted underwriters an option to purchase up to an additional 2,775,000 shares. The closing is expected on September 27, 2024.
The company plans to use the net proceeds for general corporate and working capital purposes, including funding product development and commercial activities. TD Cowen and William Blair are acting as joint book-running managers, with BTIG, and Lake Street Capital Markets as passive bookrunners for the offering.
MDxHealth SA (NASDAQ: MDXH) has announced the launch of a proposed offering of $40.0 million of ordinary shares in a registered public offering. The company plans to grant underwriters a 30-day option to purchase up to 15% additional ordinary shares. TD Cowen and William Blair are acting as joint book-running managers for the offering.
The offering is subject to market conditions, with no assurance of completion or final terms. A preliminary prospectus supplement has been filed with the SEC. The shares are being offered pursuant to a previously filed and effective registration statement. This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities.
MDxHealth SA (NASDAQ: MDXH) reported strong financial results for Q2 and H1 2024. Key highlights include:
- Q2 revenue increased 32% year-over-year to $22.2 million
- H1 revenue grew 34% to $42.0 million
- Q2 tissue-based test volume up 15% to 10,050
- Q2 liquid-based test volume up 35% to 11,047
- Q2 gross profit rose 33% to $13.3 million with 60% margin
- H1 gross profit increased 36% to $25.3 million with 60.4% margin
The company's CEO, Michael K. McGarrity, attributed the growth to strong commercial execution and robust demand for precision diagnostics in urology markets. MDxHealth continues to see strength in adoption and pricing for both Confirm and GPS tests, driving sustainable growth.
MDxHealth SA (NASDAQ: MDXH), a commercial-stage precision diagnostics company, has announced it will release its financial results for the second quarter and first half of 2024 on August 21, 2024, after market close. The company will host a conference call with live Q&A at 4:30pm ET / 22:30 CET on the same day.
Key participants in the call will include Michael K. McGarrity, Chief Executive Officer, and Ron Kalfus, Chief Financial Officer. The conference call will be accessible via various dial-in numbers for different countries and a webcast link. A replay of the webcast will be available on the company's website following the live call.
Mdxhealth has appointed Sanford J. Siegel, M.D. to its Board of Directors, replacing Lieve Verplancke. Dr. Siegel brings over 45 years of urology experience and over 35 years of executive leadership. He currently chairs the Board of United Urology Group, which he helped establish, and has a notable history in leading urology organizations, including Chesapeake Urology Associates and the Large Urology Group Practice Association.
Siegel's expertise is expected to enhance mdxhealth’s precision diagnostics for prostate cancer. CEO Michael K. McGarrity and Board Chairman Koen Hoffman expressed enthusiasm for Siegel's insights and recognized Verplancke's contributions. Siegel emphasized the importance of advanced diagnostics in improving cancer treatment outcomes.
MDxHealth (NASDAQ: MDXH) announced preliminary Q2 and half-year 2024 revenues, showing significant growth. Q2 revenue is estimated at $22.2 million, reflecting a 32% year-over-year increase, while half-year revenue is projected at $42 million, a 34% rise year-over-year. The company also raised its full-year 2024 revenue guidance from $83-85 million to $85-87 million, indicating a 23% year-over-year growth at the midpoint. As of June 30, 2024, MDxHealth's cash balance stood at $21.3 million. CEO Michael K. McGarrity expressed confidence in achieving adjusted EBITDA profitability by the first half of 2025. Full financial results will be disclosed on August 21, 2024.
Mdxhealth, a commercial-stage precision diagnostics company, announced that CEO Michael K. McGarrity will present at two upcoming investor conferences in June 2024. The conferences are the William Blair 44th Annual Growth Stock Conference on June 5th at 5:00pm ET and the Jefferies Global Healthcare Conference on June 6th at 1:30pm ET. Both presentations will be webcast live and accessible through Mdxhealth's Investor page, with replays available for up to 60 days.
MDxHealth reported a 35% increase in year-over-year Q1 revenues to $19.8 million and raised its 2024 revenue guidance to $83-85 million. The company closed a new debt facility with OrbiMed, increasing its balance sheet flexibility. The CEO highlighted successful execution of growth strategy, strong demand for tests, and solid financial performance.
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