Trinity Biotech Announces Increased Orders for TrinScreen HIV and Raises Guidance for 2024 TrinScreen HIV Sales
Trinity Biotech plc announced increased orders for TrinScreen HIV, with total orders for 2024 reaching $6 million. The company ramped up production to meet demand, leading to an increase in expected 2024 sales revenue to over $8 million.
- Trinity Biotech received substantial additional orders for TrinScreen HIV, totaling $6 million for 2024 sales.
- The company successfully scaled up production to meet the increased demand for rapid HIV tests.
- Due to strong momentum in demand and successful production scaling, expected 2024 sales revenue for TrinScreen HIV has been increased to over $8 million.
- None.
Insights
Trinity Biotech's recent update on the TrinScreen HIV orders and revised sales guidance for 2024 signals a potential uptrend in demand for rapid HIV testing solutions. A surge to
Moreover, the ability of Trinity Biotech to rapidly scale up production in response to this demand is indicative of effective operations management. This operational flexibility may well serve as a buffer against supply chain disruptions, a prevalent issue in recent times.
For investors, these indicators can reflect a favorable revenue trajectory. However, it's essential to scrutinize the larger market context. Prevalence rates of HIV, global health policies and the competitive landscape—including any market entrants or substitutions—could moderate this optimistic outlook. As the investor digs deeper, they should consider whether Trinity Biotech's valuation reflects these growth prospects and if the company can sustain this momentum long-term.
Trinity Biotech's financial guidance revision typically warrants a positive reception in the market as it often reflects underlying business strength. Increased sales guidance to
Investors should factor in these revised figures when modeling future cash flows and valuing the company's stock. Additionally, it's worth paying attention to the gross margin trends, as these will highlight how efficiently Trinity Biotech is converting increased orders into profits.
While this update is generally positive, investors should also remain vigilant for any signs of increased operational costs or capital expenditures related to scaling up production which could offset some of the revenue gains. A balance sheet analysis would be beneficial to ensure the company maintains a healthy financial position amidst expansion.
DUBLIN, Ireland, May 13, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB) a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announced that it has received substantial additional orders for TrinScreen HIV, bringing total orders received to date for supply in 2024 to approximately
The Company has successfully scaled up production to meet the increased demand for its rapid HIV tests.
As a result of this strong momentum in demand and the successful scaling of production capacity, the Company has increased its expected 2024 sales revenue for TrinScreen HIV to over
Forward-Looking Statements
This release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”), including but not limited to statements related to Trinity Biotech’s cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. Trinity Biotech claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterised by the terms “may,” “believes,” “projects,” “expects,” “anticipates,” or words of similar import, and do not reflect historical facts. Specific forward-looking statements contained in this presentation may be affected by risks and uncertainties, including, but not limited to, our ability to capitalize on our purchase of the assets of Waveform, our continued listing on the Nasdaq Stock Market, our ability to achieve profitable operations in the future, the impact of the spread of COVID-19 and its variants, potential excess inventory levels and inventory imbalances at the company’s distributors, losses or system failures with respect to Trinity Biotech’s facilities or manufacturing operations, the effect of exchange rate fluctuations on international operations, fluctuations in quarterly operating results, dependence on suppliers, the market acceptance of Trinity Biotech’s products and services, the continuing development of its products, required government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to the protection of Trinity Biotech’s intellectual property or claims of infringement of intellectual property asserted by third parties and risks related to condition of the United States economy and other risks detailed under “Risk Factors” in Trinity Biotech’s annual report on Form 20-F for the fiscal year ended December 31, 2023 and Trinity Biotech’s other periodic reports filed from time to time with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements were made. Trinity Biotech does not undertake and specifically disclaims any obligation to update any forward-looking statements.
About Trinity Biotech
Trinity Biotech is a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors. The Company develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market and has recently entered the wearable biosensor industry, with the acquisition of the biosensor assets of Waveform Technologies Inc. and intends to develop a range of biosensor devices and related services, starting with a continuous glucose monitoring product. The products are used to detect infectious diseases and to quantify the level of Haemoglobin A1c and other chemistry parameters in serum, plasma and whole blood. Trinity Biotech sells direct in the United States, Germany, France and the U.K. and through a network of international distributors and strategic partners in over 75 countries worldwide. For further information, please see the Company's website: www.trinitybiotech.com.
| Contact: | Trinity Biotech plc | LifeSci Partners, LLC |
| Mícheál Roche (353)-1-276-9800 | Eric Ribner (1)-646-751-4363 E-mail: investorrelations@trinitybiotech.com |
