Welcome to our dedicated page for Trinity Biotech Plc news (Ticker: TRIB), a resource for investors and traders seeking the latest updates and insights on Trinity Biotech Plc stock.
Trinity Biotech plc (NASDAQ: TRIB) is a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors. The TRIB news feed on Stock Titan aggregates company press releases and related coverage so readers can follow developments across its infectious disease, diabetes, oncology and maternal health portfolios.
News items for Trinity Biotech commonly highlight regulatory milestones and product launches. Recent announcements include large orders for its TrinScreen HIV rapid screening test, WHO and in-country regulatory approvals enabling offshored and outsourced manufacturing of TrinScreen HIV and Uni-Gold HIV, and expanded rollout of a high-capacity HbA1c column system for the FDA-cleared Premier Hb9210 analyzer. These updates provide insight into how the company is executing its transformation plan and adjusting its manufacturing footprint.
Investors and observers can also use the TRIB news page to track progress in newer areas such as continuous glucose monitoring, where the company has reported breakthrough clinical trial results for a redesigned CGM sensor and references its CGM+ solution, as well as oncology and maternal health initiatives, including development of the EpiCapture prostate cancer test and the PreClara Ratio preeclampsia biomarker service. Capital structure and governance developments, such as credit agreement amendments with Perceptive Advisors, Nasdaq listing compliance updates, and annual general meeting outcomes, are also disclosed through news and associated SEC filings.
By reviewing the Trinity Biotech news stream, users can see how product approvals, manufacturing changes, financing arrangements and clinical data releases intersect with the company’s stated strategy in diagnostics and diabetes management. This page can be revisited to follow new regulatory clearances, commercial orders, pipeline updates and corporate actions as they are reported by the company.
Trade Capital Corporation (TCC) has released its 2023 Economic Outlook, indicating significant risks for the U.S. economy, including inflation and demand compression as it heads toward a potential recession. TCC predicts muted GDP growth and ongoing supply chain disruptions, exacerbated by the Russo-Ukraine war. The report emphasizes the necessity for corporate leaders to enhance resilience and embrace capital-efficient business models. CEO Sanjay Bonde urges companies to preserve liquidity and adapt to rising costs. An online event discussing these strategies will occur on February 2, 2023.
Trinity Biotech (Nasdaq: TRIB) has announced a strategic partnership with imaware Inc to enhance digital health solutions through at-home and remote testing programs. As part of this partnership, Trinity Biotech will invest $1.5M in convertible notes and serve as imaware's lab testing partner for five years. They aim to process over 650,000 test kits annually by year three, focusing on integrated solutions for digital health partners. Both companies plan to innovate their offerings to provide effective testing services to patients, providers, and health systems.
Trinity Biotech (TRIB) reported Q3 2022 revenues of $19.5 million, reflecting an 11.4% decline from $22.0 million in Q3 2021. Excluding Covid-related products, revenues increased by 2% YoY. Haemoglobin and Fitzgerald Industries sectors drove a 30% revenue increase. Gross profit fell to $2.0 million (10.3% margin), impacted by $4.7 million in inventory write-downs. Operating loss was $7.1 million, a significant decrease compared to last year. Cash reserves decreased to $7.3 million from $10.5 million at Q2 2022. The company continues to develop new diagnostic products, targeting launches in 2023.
Trinity Biotech (Nasdaq: TRIB) will report its third quarter fiscal year 2022 financial results on December 15, 2022. A conference call discussing these results is scheduled for the same day at 11:00 am ET. Interested participants can join the call via US toll-free at 1-844-861-5499 or access the webcast online. The results will be crucial for investors to gauge the company's performance in the diagnostic products sector. Trinity Biotech develops diagnostic systems for infectious diseases and other health parameters, selling directly in major markets and through international distributors.
Dublin-based Trinity Biotech (Nasdaq: TRIB) is set to participate in the Piper Sandler 34th Annual Healthcare Conference on December 1, 2022. CEO Aris Kekedjian and CFO John Gillard will present at 10:30 AM ET and will hold individual meetings with investors. A webcast of the presentation will be available for three months. Trinity Biotech specializes in diagnostic products for point-of-care and clinical laboratory markets, supplying over 75 countries with its systems to detect infectious diseases and measure Haemoglobin A1c levels.
Trinity Biotech (Nasdaq: TRIB) reported Q2 2022 revenues of $18.5 million, a 28.6% decline from Q2 2021. Excluding COVID-related PCR products, revenues were flat year-over-year but increased 7% from Q1 2022. Notable increases include a 25% growth in diabetes A1c product line revenues. Q3 2022 revenue guidance is between $19 million and $20 million, driven by anticipated growth in HIV point of care revenue. The company's early debt repayments saved approximately $2.3 million in interest. Gross profit decreased to $6.5 million, reflecting lower-margin product sales.
Trinity Biotech (Nasdaq: TRIB) will announce its second quarter fiscal year 2022 financial results on November 3, 2022. A conference call is scheduled for the same day at 11:00 am ET to discuss the results. Interested parties can join via multiple dial-in options or access a simultaneous webcast. A replay will be available until November 10, 2022. Forward-looking statements in the release caution about various risks, including regulatory challenges and competitive pressures. Additional details can be found on their website.
Trinity Biotech plc (Nasdaq: TRIB) has appointed Tom Lindsay as an independent non-executive director, enhancing its Board of Directors with his extensive experience in the diagnostics sector. Lindsay brings over 35 years of expertise, including leadership roles in point of care diagnostics at Alere Inc. His consultancy in international diagnostics and position at Genedrive plc further complement his credentials. Meanwhile, two non-executive directors, Seon Kyu Jeon and Michael Sung Soo Kim, have departed the board, signaling a shift as the company seeks to bolster product development and distribution, particularly in Asia.
Trinity Biotech plc (Nasdaq: TRIB) appointed Aris Kekedjian as CEO effective October 3, 2022, succeeding co-founder Ronan O’Caoimh, who remains on the Board. Kekedjian brings over 30 years of leadership experience from General Electric and other companies. His role comes as Trinity Biotech seeks to transform in the diagnostic landscape, focusing on decentralized testing and digital health solutions post-COVID-19. His substantial options package aligns his interests with shareholders, reflecting a strategic shift in leadership aimed at fostering growth in a digitized diagnostic ecosystem.
Trinity Biotech plc (Nasdaq: TRIB) held its Annual General Meeting (AGM) on September 30, 2022, at its headquarters in Bray, Ireland. Shareholders approved several resolutions, including:
- Increasing authorized share capital by 600 million A ordinary shares.
- Reappointing Grant Thornton as statutory auditors.
- Re-election of directors Aris Kekedjian, Michael Sung Soo Kim, and Seon Kyu Jeon.
- Renewing authority for share repurchases within prescribed limits.
However, Resolution 9 regarding treasury share re-allocation was not approved.
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