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Trinity Biotech PLC (TRIB) specializes in innovative diagnostic solutions for global healthcare challenges, from infectious disease detection to diabetes management technologies. This news hub provides investors and healthcare professionals with essential updates on the company's strategic developments, regulatory milestones, and market positioning.
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Trinity Biotech (TRIB) has received WHO approval for its new HIV screening product, TrinScreen™ HIV. This rapid test yields results in under 12 minutes and targets a significantly larger market than its predecessor, with an estimated size exceeding USD 150 million. The company, known for its Uni-Gold™ HIV confirmatory test in Africa, anticipates strong sales growth due to enhanced brand reputation and an experienced marketing team. TrinScreen™ HIV will be produced at their Bray, Ireland facility, and there are potential opportunities in emerging markets globally.
Trinity Biotech (Nasdaq: TRIB) has successfully completed its refinancing, closing a $81.25 million senior secured term loan with Perceptive Advisors. This loan will help retire approximately $99.7 million of exchangeable senior notes issued by its subsidiary. The CEO expressed enthusiasm for partnering with Perceptive Advisors to advance the company's growth. Trinity Biotech specializes in developing diagnostic systems for point-of-care and clinical laboratory markets, with a global presence in over 75 countries.
Trinity Biotech plc (Nasdaq: TRIB) announced the results of its Extraordinary General Meeting (EGM) held on January 25, 2022. Shareholders approved four resolutions necessary for the refinancing of approximately $99.9 million in exchangeable senior notes. Approval included a new term loan, increasing authorized share capital, and granting the board authority to issue shares without limit under Irish law. Notably, each resolution received at least 97% of the votes in favor, indicating strong shareholder support for these refinancing measures.
Trinity Biotech plc (TRIB) reported Q3 2021 revenues of $22.0 million, a decrease of 31.3% from $32.0 million in Q3 2020, largely due to a 40.3% drop in Clinical Laboratory revenues. Point-of-Care revenues rose by 99.2% to $4.1 million, driven by increased HIV testing in Africa. The company entered into an $81.25 million loan facility to refinance existing debt, with plans to retire $99.7 million in outstanding senior notes. Gross profit was $8.9 million, resulting in a margin of 40.4%. The company anticipates a positive future with innovative products and improved capital structure.
Trinity Biotech (Nasdaq: TRIB) reported Q2 2021 revenues of $25.8 million, up 61.3% from $16.0 million in Q2 2020. Point-of-Care revenue grew by 54.5% to $2.0 million, driven by increased HIV sales in Africa. Clinical Laboratory revenue surged 61.9% to $23.9 million, primarily due to COVID-19 related products. Gross profit was $11.0 million with a margin of 42.7%. Operating profit reached $6.3 million, markedly up from $0.5 million in the same period last year. The company anticipates regulatory approval for its new TrinScreen™ HIV test and aims to launch a COVID-19 rapid antigen test by Q2 2022.
Trinity Biotech plc (Nasdaq: TRIB) will report its financial results for Q2 FY 2021 on September 9, 2021. The company will hold a conference call at 11:00 am ET to discuss these results. The call will be accessible via US and international toll-free numbers, and it will also be webcasted live. A replay of the call will be available until September 16, 2021. Forward-looking statements in the release caution about potential risks, including challenges from COVID-19 and regulatory issues.
Trinity Biotech (Nasdaq: TRIB) reported a business update for Q2 2021, highlighting advancements in their product lines. The company is advancing its TrinScreen™ HIV product through the WHO approval process, expected to increase market share in Africa. They are also developing a SARS-CoV-2 antigen test and pursuing an EUA for their antibody test, although the FDA has deprioritized this application, limiting its market potential. Additionally, Trinity is expanding lab services in New York, enhancing its diagnostic offerings.
Trinity Biotech (TRIB) reported a 20.9% revenue increase for Q1 2021, totaling $25.6 million, compared to $21.2 million in Q1 2020. Point-of-Care revenues fell 43.4% to $1.9 million due to COVID-19 related delays in HIV test orders. Conversely, Clinical Laboratory revenues grew 32.9% to $23.7 million, driven by strong sales of COVID-19 products, particularly PCR Viral Transport Media. Gross profit rose 17.6% to $10.9 million, but gross margin decreased to 42.6%. Overall, the company shows resilience amid pandemic challenges with expectations for revenue recovery in the Point-of-Care segment.
Trinity Biotech (Nasdaq: TRIB) announces its Q1 fiscal year 2021 financial results will be reported on May 25, 2021. A conference call is scheduled for the same day at 11:00 am ET, where details will be discussed. Interested parties can access the call via various toll-free numbers, including 1-844-861-5499 for US callers. A replay will be available until June 1, 2021 with access codes provided. The company specializes in diagnostic products for both point-of-care and clinical laboratory markets, focusing on infectious disease detection.
Trinity Biotech has submitted its new HIV screening product, TrinScreen™ HIV, to the World Health Organisation (WHO) for approval. This product aims to enhance the company's existing HIV testing capabilities in Africa, building on its success with the Uni-Gold™ HIV test. The TrinScreen test detects HIV antibodies from a finger stick sample in under 12 minutes, boasting high assay sensitivity. A prior evaluation with 1,200 samples yielded excellent results. Approval from WHO is expected in months, during which the company will prepare for automated manufacturing in Ireland.
