Trinity Biotech plc - TRIB STOCK NEWS

Trinity Biotech (TRIB) reported Q3 2024 total revenue of $15.2 million, up 3% year-over-year, driven by strong Point-of-Care product revenue growth of 60% Y/Y to $4.3 million. The company's operating loss improved by 51% to $2.2 million from $4.5 million in Q3 2023. TrinScreen HIV sales reached $2.4 million in Q3. The company reiterates guidance to achieve approximately $20 million of annualized run-rate EBITDASO on revenues of $75 million by Q2 2025. Trinity completed two strategic acquisitions in lab-based diagnostics and continues progress on its CGM development. Cash balance decreased to $2.8 million at quarter-end.

Trinity Biotech (Nasdaq: TRIB), a commercial stage biotechnology company specializing in diabetes management solutions and human diagnostics, will announce its Q3 2024 financial results on Friday, November 15, 2024. The company will host a conference call at 10:00 AM ET. Trinity Biotech focuses on developing diagnostic systems and has recently entered the wearable biosensor industry through the acquisition of Waveform Technologies Inc.'s biosensor assets. The company sells directly in the US, Germany, France, and the UK, while maintaining distribution partnerships across 75 countries worldwide.

Trinity Biotech (Nasdaq: TRIB) has successfully regained compliance with Nasdaq's minimum market value of publicly held shares (MVPHS) requirement. The company received confirmation from Nasdaq on November 6, 2024, following a previous deficiency notice received on November 21, 2023, when its MVPHS fell below the required $15 million threshold. After presenting its compliance plan to the Nasdaq Hearings Panel on July 16, 2024, Trinity was granted an extension until October 31, 2024. The company has now met the requirement, ensuring continued listing on the Nasdaq Global Select Market.

Trinity Biotech (TRIB) has announced a strategic investment in Novus Diagnostics, acquiring a 12.5% equity stake valued at $2.5 million through the issuance of 1.4 million ADS. The investment aims to accelerate the development of Novus' rapid sepsis testing platform, which promises 15-minute bloodstream infection test results. Current sepsis testing methods take days, while this point-of-care solution could transform diagnosis and treatment of a condition that affects 1.7 million people and causes 350,000 deaths annually in the U.S. The investment values Novus at $20 million post-investment.

Trinity Biotech (TRIB) has acquired EpiCapture , marking its entry into oncology diagnostics. The acquisition, valued at approximately $3 million plus $0.5 million in milestone-based payments, was paid through 1.7 million ADS issuance. EpiCapture develops a non-invasive urine-based test for monitoring aggressive prostate cancer progression, potentially reducing the need for invasive biopsies. The test, when combined with PSA testing, has shown promising results in clinical studies. Trinity Biotech plans to leverage its manufacturing expertise and certified laboratory to commercialize the test in the US and explore additional markets.

Trinity Biotech plc (Nasdaq: TRIB) has acquired Metabolomics Diagnostics, an Irish deep-tech company, for approximately $1.3 million. This acquisition provides Trinity Biotech with a mass spectrometry platform combined with machine learning-powered bioinformatics. The key asset is PrePsia, an innovative test that can predict preeclampsia risk as early as the 12th week of pregnancy.

Trinity Biotech plans to commercialize PrePsia in the U.S. market through its New York-based Immco reference laboratory, with first revenues expected in 2025. The company will manufacture the test reagents in-house. This acquisition aligns with Trinity's strategy of combining established capabilities with cutting-edge technologies to address important clinical issues in maternal and fetal health.

Preeclampsia affects up to 5% of pregnancies and can cause serious health issues for mothers and babies. The PrePsia test uses mass spectrometry to identify metabolites in blood samples and a machine learning algorithm to deliver a personalized preeclampsia risk score.

Trinity Biotech plc (Nasdaq: TRIB) has announced plans to initiate a Continuous Glucose Monitoring (CGM) market study in India, furthering its intended collaboration with Bayer. This study aims to gather feedback from diabetes patients and healthcare professionals to refine the design of Trinity Biotech's next-generation CGM solution for the Indian market. The company has entered a non-binding Letter of Intent with Bayer for launching a CGM device in China and India.

India, with over 100 million people living with diabetes, presents a significant market opportunity. Trinity Biotech aims to increase access to CGM technology across India by offering a low-cost care solution. The company's next-generation CGM features an innovative modular design that enhances user experience while reducing cost and waste.

Trinity Biotech plc (Nasdaq: TRIB) has provided an update on its continuous glucose monitor (CGM) technology development. The company was granted a European patent (EP3703565) for a novel method enhancing indwelling sensor performance, particularly for glucose biosensors. Recent testing confirmed the effectiveness of this patented process in improving their glucose biosensor performance.

The innovative 'conditioning' process, housed within Trinity Biotech's reusable transmitter unit, significantly reduces the CGM's initial 'run-in' time, enabling quicker reliable measurements. It also improves the device's accuracy relative to laboratory reference methods and enhances the Mean Absolute Relative Difference (MARD). This advancement aims to create a more user-friendly, fully self-calibrating device, addressing the current need for periodic re-calibration using separate finger-stick blood glucose monitors.

Trinity Biotech plc (Nasdaq: TRIB) has appointed Adrian Donohue as Chief Commercial Officer. With over 25 years of experience in healthcare product sales and marketing, Donohue joins Trinity Biotech as part of the company's transformation agenda. CEO John Gillard emphasized the importance of this appointment in driving performance and profitability across their product lines, including the new TrinScreen HIV rapid testing product.

Donohue expressed excitement about joining Trinity Biotech during its transformation and preparation for entering the continuous glucose monitor (CGM) market. His extensive background includes successful product launches in EMEA and Japan, team leadership, and innovative commercial strategies. Donohue's career spans roles at Menarini, Eli Lilly, Roche, Shire Pharma, and most recently as Global Senior Director at Biomarin.