Stock Markets

IntegraGen: 2024 Revenues of €8.5m, Down 27% Compared With 2023 (+5% Excluding SeqOIA), and Cash Position of €1.9m

Published

4 hours ago

January 16, 2025

Revenues down 27% due to the discontinuation of services for the SeqOIA platform. Adjusted for this base effect, growth stood at 5% over the period.
– Cash position of 1,895 k € at December 31, 2024.

EVRY, France–(BUSINESS WIRE)–Regulatory News:

IntegraGen (FR0010908723 – ALINT – PEA PME eligible), an OncoDNA Group company specializing in cancer and rare genetic disease genomics, and providing genomic analyses for both academic and private clients, today announces its unaudited revenue for the year 2024.

Unaudited revenue recognized over the year 2024 amounts to €8 489k, down 27% compared to that of 2023. This decline is mainly due to the cessation in February 2024 of service for the SeqOIA platform, which internalized these activities in accordance with the terms of the contract won by IntegraGen in 2018. This activity thus only generated €858k in operating revenues in 2024, compared with €4,365k in 2023.

Excluding revenues from this platform, recognized revenue rose by 5% over the period.

In 2024, non-recurring revenues were also recognized, corresponding in particular to the sale of hardware and software to SeqOIA, as well as the recognition of revenues from projects closed in previous years, for a total amount of €399k. Including these items, total income for the year, unaudited, stands at €8.9 m.

Apart from SeqOIA, genomic services realized in Ã‰vry grew by 8%, while Microbiology activities, with the Institut Pasteur’s P2M platform, remained stable (+1%)

The cash position at the end of December 2024 was €1,895k, down by one million compared with the situation as of December 31, 2023. This position includes the outstanding balance of €642k of the State Guaranteed Loan (PGE), obtained in 2020 in connection with the pandemic, which the company continues to repay at a rate of €450k per year. The total cash variation observed over the period is explained by the loss of revenue (linked to the termination of the SeqOia related activities), variations in customer payment deadlines and loan repayments.

With a strengthening of the order book at the end of 2024, the Evry-based laboratory’s business growth prospects remain clearly established on the basis of current sales momentum, multi-year contracts in place and the prospects opened up by the January 2024 award of CLIA certification, which now enables IntegraGen to carry out studies for pharmaceutical companies as part of their development of innovative new molecules. A contract worth €2.4m over the next two years was signed in October 2024 for a prospective Phase II clinical trial, validating IntegraGen’s capabilities in this sector of services to the pharmaceutical industry.

Bernard Courtieu, Chief Executive Officer of IntegraGen, comments: On a comparable basis, excluding activities linked to the SeqOIA platform, IntegraGen’s sales continued to grow in 2024, reaching €8.5m, demonstrating both the robustness of our model and the positive outlook with the ability to attract, beyond our historical base of hospital and research institute customers, industrial pharmaceutical customers, able to strongly develop our business and its profitability. In parallel with the restructuring of 2024, IntegraGen continues its efforts to achieve its objective of profitable growth.

Financial results for the 2024 year will be published on April 30th, 2025.

ABOUT INTEGRAGEN

IntegraGen is an OncoDNA group company specializing in the genomics of cancer and rare genetic diseases. Backed by highly competent and qualified teams, IntegraGen is a leading player in DNA sequencing services and genomic data interpretation software. The company runs one of the largest NGS labs in France and operates for research institutes of excellence. As part of OncoDNA group, IntegraGen leverages the power of next generation sequencing with the mission of delivering the promise of precision medicine to patients. IntegraGen has about 42 employees and generated €8.5 million of turnover in 2024. Based in France, IntegraGen is part of the Belgian OncoDNA group present in Spain, UK, Germany and works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of late stage solid tumors and accelerate the development of new cancer drugs.

IntegraGen is listed on Euronext (EPA:) Growth in Paris (ISIN: FR0010908723 “ Mnemo: ALINT “ Eligible PEA- PME).

For further information, please visit www.integragen.com or connect with us on LinkedIn or X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250115692478/en/

INTEGRAGEN
Bernard COURTIEU
Directeur GÃ©nÃ©ral

Virginie De Coster
Directeur Administratif et Financier
contact@integragen.com
TÃ©l. : +33 (0)1 60 91 09 00

NEWCAP
Relations Investisseurs
Louis-Victor DELOUVRIER
integragen@newcap.eu
TÃ©l. : +33 (0)l 44 71 98 53

Source: IntegraGen

Stock Markets

Macquarie expects FOMC to cut rates after US CPI data

Published

4 hours ago

January 16, 2025

Macquarie has reaffirmed its expectation that the Federal Open Market Committee (FOMC) will implement a single 25 basis points rate cut following the latest U.S. consumer price index (CPI) data.

The headline CPI in December remained robust, increasing by 0.4% month-over-month, influenced by strong food and energy prices, continuing an accelerating trend that has been observed since mid-2024.

In contrast, the core CPI, which excludes volatile food and energy prices, showed a softer increase of 0.23% month-over-month, marking the lowest reading since July.

This was considered a positive development by Macquarie, especially since core PPI subcomponents released earlier in the week had indicated a potential for a higher inflation reading. The year-over-year core CPI inflation rate held steady at 2.9%.

Macquarie analysts anticipate that the core Personal Expenditures (PCE) price index, a preferred inflation measure by the Federal Reserve, will likely mirror the core CPI’s recent performance.

They also expect core CPI inflation to moderate in the first quarter of the year, aided by favorable base effects and monthly core readings similar to those of December. However, they caution that threatened tariffs could pose an upside risk to inflation beyond the current forecast horizon.

The investment bank maintains that the FOMC is likely to reduce interest rates by 25 basis points only once more, predicting that the most probable timing for this action would be in March or May.

Macquarie also notes that the risks are tilted towards a later date for the rate cut.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Stock Markets

Beacon rejects QXO’s acquisition offer as undervalued

Published

4 hours ago

January 16, 2025

HERNDON, Va. – Beacon (NASDAQ:BECN), a Fortune 500 distributor of specialty building products, has rejected an unsolicited acquisition proposal from QXO, Inc. (NASDAQ:QXO). The offer, dated November 11, 2024, to purchase all outstanding shares of Beacon for $124.25 per share in cash, was unanimously deemed insufficient by Beacon’s Board of Directors. According to InvestingPro data, QXO maintains a strong balance sheet with more cash than debt and a current ratio of 258.64, suggesting ample financial flexibility for potential acquisitions.

The Board, after thorough consultation with independent financial and legal advisors, concluded that the proposal significantly undervalues Beacon’s growth prospects and future value creation potential. Beacon’s Chair of the Board, Stuart Randle, stated that the offer fails to reflect the company’s strategic plan and its potential for growth, emphasizing that Beacon has produced a total shareholder return of over 200% in the past five years. This contrasts sharply with QXO’s market performance, which InvestingPro data shows has declined by nearly 85% over the past year, with particularly volatile stock movements.

Beacon has attempted to engage with QXO to discuss valuation, subject to a standard non-disclosure agreement (NDA), which QXO declined. The company also offered to limit confidentiality obligations and structured the NDA to allow QXO to participate in a proxy contest at the upcoming 2025 annual meeting of shareholders.

Julian Francis, President and CEO of Beacon, expressed confidence in the company’s growth trajectory and the execution of its Ambition 2025 strategy, which aims for above-market growth and operational excellence. While QXO shows promising revenue growth potential with InvestingPro forecasting 92.7% growth for the current year, analysts don’t expect profitability in the near term. Beacon anticipates revealing more about its long-term financial targets at an Investor Day scheduled for March 13, 2025. Get deeper insights into both companies’ valuations and growth metrics with an InvestingPro subscription, which offers exclusive financial health scores and detailed analysis.

J.P. Morgan is serving as Beacon’s financial advisor, with Sidley Austin LLP and Simpson Thacher and Bartlett LLP as legal advisors. Beacon, established in 1928, operates over 580 branches across the U.S. and Canada and is known for its private label brand TRI-BUILT® and the digital account management suite Beacon PRO+®.

The company advises shareholders that no action is needed at this time and plans to file relevant documents with the U.S. Securities and Exchange Commission (SEC) for the upcoming annual meeting.

This news is based on a press release statement from Beacon.

In other recent news, QXO, Inc. has been busy with noteworthy developments. The company’s stockholders approved a key executive compensation plan at the 2024 Annual Meeting, electing all the company’s nominees for director and ratifying the appointment of Marcum LLP as the independent registered public accounting firm for fiscal year 2024. In parallel, QXO has been actively seeking growth through acquisitions, as indicated by its proposal to acquire Beacon Roofing Supply (NASDAQ:), following a declined offer to take over Rexel (EPA:), a French electrical products distributor.

Additionally, QXO has announced the appointment of Ashwin Rao as the new chief artificial intelligence officer. Rao, with over three decades of experience in enterprise AI, is expected to lead QXO’s tech initiatives, including demand forecasting, inventory management, and e-commerce. This move aligns with QXO’s strategy to become a leading tech-forward entity in the building products distribution sector.

Goldman Sachs reiterated its Buy rating on QXO, further signaling confidence in the company’s growth prospects. However, it’s important to note that these plans involve inherent risks and uncertainties, and are not guarantees of future performance. These recent developments reflect QXO’s current plans and expectations, highlighting a period of strategic moves and appointments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Stock Markets

Anixa Biosciences president Michael Catelani buys $19,971 in shares

Published

4 hours ago

January 16, 2025

Michael Catelani, the President, Chief Operating Officer, and Chief Financial Officer of Anixa Biosciences Inc. (NASDAQ:), recently purchased 9,289 shares of the company’s common stock. The $71 million market cap company maintains a strong financial position, with InvestingPro data showing a healthy current ratio of 8.54 and minimal debt on its balance sheet. The shares were acquired at a price of $2.15 each, resulting in a total transaction value of $19,971. Following this acquisition, Catelani now directly owns 44,500 shares of Anixa Biosciences. This transaction was reported in a recent SEC filing. The purchase comes as the stock trades near its 52-week low of $2.07, with analyst price targets ranging from $7 to $10. InvestingPro subscribers can access 8 additional key insights about ANIX’s financial health and market position.

In other recent news, Anixa Biosciences has made significant strides in its cancer research efforts. The company has reported a net loss of $3.1 million for the second fiscal quarter of 2024, less than the projected loss of $3.5 million. Analysts from EF Hutton and H.C. Wainwright have initiated and maintained a Buy rating for the company, despite H.C. Wainwright reducing the 12-month price target to $7.00.

Anixa Biosciences also announced a strategic decision to acquire as part of its treasury reserve assets, aiming to diversify its treasury and leverage the anticipated long-term value of digital currencies. In addition to this, the company is continuing its stock buyback program, reinforcing its commitment to increasing shareholder value.

In its ongoing clinical trials, Anixa Biosciences has successfully dosed the first patient in the third cohort of their Phase 1 trial of CAR-T therapy for ovarian cancer. The company, in collaboration with Cleveland Clinic, has shown promising results in its Phase 1 breast cancer vaccine trial with over 70% of patients exhibiting immune responses.

Other recent developments include the announcement of a share repurchase program and the addition of Dr. Sanjay Juneja to the Cancer Business Advisory Board. Anixa Biosciences has also received a Japanese patent for its breast cancer vaccine technology. These are among the recent developments in Anixa Biosciences’ pursuit of advancing cancer treatment and prevention.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.