BioPorto Interim Result for the Second Quarter of 2025 - Continued progress with full execution of strategic objectives and strong NGAL sales growth.
August 15, 2025Announcement no. 19
BioPorto Interim Result for the Second Quarter of 2025 - Continued progress with full execution of strategic objectives and strong NGAL sales growth.
Copenhagen, Denmark, August 15, 2025, (GLOBE NEWSWIRE), BioPorto A/S ("BioPorto" or the "Company") (CPH:BIOPOR), today announced interim financial results for the second quarter of 2025 and a business update.
Continued progress on key strategic milestones for the second quarter of 2025
Full execution of the objectives outlined in our February 2024 Strategic Plan.
A major milestone in the second quarter of 2025 was the receipt of the first purchase order for ProNephroTM AKI (NGAL) for the US market, marking the first step in the commercial launch.
The enrollment of patients in the US clinical cut-off study for ProNephro AKI (NGAL) for adult use is progressing as planned and is reaching the final phase. We maintain our goal to submit to the FDA by the end of 2026.
Strong NGAL sales growth of 39% compared to the second quarter of 2024.
The Board was restructured with Jens Due Olsen stepping in as Chairman and Carsten Buhl appointed as new CEO as of September 1, to drive the next growth phase.
On April 15, 2025, the Company successfully completed a funding round of 25,000,000 new shares in a direct issue at market price providing gross proceeds of DKK 33.5 million. The funding round was met with strong support from existing shareholders.
Peter Mørch Eriksen, BioPorto's Group Chief Executive Officer (CEO), comments:
"The second quarter of 2025 marked a pivotal chapter for BioPorto, with the first US order of ProNephro AKI (NGAL) initiating our commercial journey and laying the foundation for a commercial platform to drive broad adoption of ProNephro AKI through strategic partnerships.
We are pleased with the strong market momentum in the US and the progress in clinical studies toward the FDA submission by the end of 2026. With a clearly defined strategy and new leadership, we are well positioned to move into the next phase of our growth journey."
Financial highlights for the second quarter of 2025
Total revenue in the second quarter of 2025 totaled DKK 10.6 million, representing a 15% increase compared to the same period last year. This growth was driven by rising NGAL sales in both the US and the rest of the world (ROW).
NGAL sales increased by 39% compared to the second quarter of 2024, driven by a 23% increase in the US and a substantial growth of 71% in the ROW, primarily due to a bulk order.
EBITDA loss in the second quarter of 2025 amounted to DKK 18.4 million compared to DKK 16.2 million in the second quarter last year. The increase is primarily driven by higher costs associated with the adult clinical study.
As of June 30, 2025, the Company's cash position was DKK 47.8 million compared to DKK 103.9 million in the same period last year.
For the first half of 2025 total revenue amounted to DKK 18.3 million, representing a 2% decrease compared to the same period last year, primarily driven by lower Antibody sales due to timing in orders. NGAL sales rose by 5% compared to the first half of 2024, driven by a 22% increase in US NGAL sales. Adjusted EBITDA loss for the first half of 2025 amounted to DKK 46.5 million, compared to DKK 31.5 million in the same period last year.
Guidance
Based on the results for the first half of 2025 and better visibility for the remainder of 2025, we narrow the full-year guidance for 2025.
Total revenue is expected to be in the range of DKK 45-50 million (previously DKK 45-60 million). Sales for the rest of 2025 are still expected to be back-end loaded.
Adjusted EBITDA loss is expected to be in the range of DKK 75-80 million (previously DKK 75-85 million).
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