26 Jul 2022 07:00
26 July 2022
Diurnal Group plc
("Diurnal" or the "Company")
Trading update
Revenues in line with current expectations; strong sales growth (+104%) driven by good Alkindi® performance and initial sales of Efmody®
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, today provides an unaudited trading update for the twelve-month period ended 30 June 2022 (the "Period").
Revenue
Product sales (including royalties) for the Period increased to £4.62m, representing year-on-year growth of 104% (twelve months ended 30 June 2021: £2.27m).
· Alkindi® (hydrocortisone granules in capsules for opening) product sales (including royalties) for the Period increased to £3.65m, representing year-on-year growth of 61% (twelve months ended 30 June 2021: £2.27m).
· Efmody® (hydrocortisone modified-release hard capsules) initial product sales for the Period of £0.97m (twelve months ended 30 June 2021: £nil), primarily reflecting sales in Germany since pricing approval in September 2021.
· Total revenues for the Period of £4.68m, reflecting licensing income of £0.06m (twelve months ended 30 June 2021: total revenues of £4.37m, reflecting licensing income of £2.10m).
Cash
· Cash and cash equivalents as at 30 June 2022: £16.49m (as at 31 December 2021: £24.36m).
Future reporting
· Following the change of year end to 31 December, Diurnal will report its interim results for the twelve-month period ended 30 June 2022 in September 2022 and its audited results for the 18-month period ended 31 December 2022 in Q1 2023.
Richard Bungay, Interim Chief Executive Officer of Diurnal commented:
"We are pleased to have delivered revenues in line with current expectations, reflecting both continued growth in Alkindi® as well as the initial roll out of Efmody®, primarily in Germany. We look forward to providing a detailed update to investors on operational progress at our results presentation and R&D day in September 2022."
For further information, please visit www.diurnal.co.uk or contact: | ||
Diurnal Group plc | +44 (0)20 3727 1000 | |
Richard Bungay, Interim Chief Executive Officer |
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Panmure Gordon (UK) Limited (Nominated Adviser and Joint Corporate Broker) | +44 (0)20 7886 2500 | |
Corporate Finance: Freddy Crossley, Emma Earl |
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Corporate Broking: Rupert Dearden
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Stifel Nicolaus Europe Limited (Joint Corporate Broker) | +44 (0) 20 7710 7600 |
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Healthcare Investment Banking: Nicholas Moore, Samira Essebiyea, William Palmer-Brown |
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Corporate Broking: Nick Adams, Nick Harland |
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FTI Consulting (Media and Investor Relations) | +44 (0)20 3727 1000 | |
Simon Conway | ||
Victoria Foster Mitchell | ||
Alex Davis | ||
Notes to Editors
About Diurnal Group plc
Diurnal Group plc is a European, UK-headquartered, specialty pharmaceutical company dedicated to developing hormone therapeutics to aid lifelong treatment for rare and chronic endocrine conditions, including congenital adrenal hyperplasia, adrenal insufficiency, hypogonadism and hypothyroidism. Its expertise and innovative research activities focus on circadian-based endocrinology to yield novel product candidates in the rare and chronic endocrine disease arena.
For further information about Diurnal, please visit www.diurnal.com
Date of Preparation: July 2022 Code: CORP-GLO-0040