facts and circumstances. BioPorto has in the first three months of 2025
continuously exercised strong cost control to preserve cash.
Guidance for 2025 maintained
For the first quarter of 2025, we are aligned with expectations and BioPorto
therefore maintains its financial guidance for 2025, as most recently
described in its Annual Report 2024 of:
Net working capital
Net working capital (i.e., current assets minus current liabilities) as of
March 31, 2025, totaled DKK 32.5 million (DKK 38.3 million).
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Total Revenue target of DKK 45-60 million, and
Adjusted EBITDA loss in the range DKK 75-85 million.
In 2025, BioPorto expects revenue to grow 24-66% compared to 2024.
Growth will be driven by increased sales of NGAL products – primarily in
the US following the FDA clearance, supplemented by growth in the rest of
the world. NGAL sales in 2025 is expected to be back-end loaded.
Cash Flow Statement
Cash used in operating activities during the first three months of 2025
totaled DKK 24.1 million (DKK 20.7 million), which reflected costs for the
adult clinical study and the reasons described above.
The expected adjusted EBITDA loss for 2025 will reflect higher marketing
costs for ProNephro AKI (NGAL) in the US, and the cost of new clinical trials
to support FDA clearance for ProNephro AKI (NGAL) for adults.
Cash used in investing activities was DKK 1.8 million (inflow of DKK 0.3
million). Cash used in financing activities was DKK 1.0 (DKK 0.9 million).
The net cash flow during the first three months of 2025 was a use of DKK
26.9 million (DKK 21.3 million).
Forward-looking safe harbor statements
This interim report contains forward-looking statements that involve risks,
uncertainties, and other factors, many of which are outside of BioPorto’s
control, that could cause actual results to differ materially from the results
or expectations discussed in the forward-looking statements. Forward-
looking statements include statements concerning the Group’s plans,
objectives, goals, future events, performance and/or other information
that is not historical information. All such forward-looking statements are
expressly qualified by these cautionary statements and any other
cautionary statements which may accompany the forward-looking
statements. BioPorto does not undertake any obligation to update or revise
forward-looking statements to reflect subsequent events or circumstances
after the date made.
Subsequent event
Please see Note 13 for further details.
Significant risks and uncertainties
BioPorto faces a number of risks and uncertainties, including those
common for the biotech/medical device industry and could potentially
impact the Company across the value chain including clinical and
regulatory, research and development, manufacturing, commercial, and
financial activities. Furthermore, the uncertainty in the US could impact the
company adversely by implementation of tariffs or delaying any
submissions with the FDA.
For Further Information
Hanne Søgaard Foss, Head of Investor Relations, BioPorto, +45 4529 0000,
investor@bioporto.com
A variety of factors and events, including geopolitical uncertainty, have
resulted in delays and other challenges in global supply chains. To
manufacture its products, the Company is dependent on the supply of raw
materials and key components from suppliers, some of which are single
source suppliers. Delays in the manufacture, delivery, or quality of these
components, or delays in the Company’s execution of its commercialization
strategy, including hiring personnel and continuing to prepare
manufacturing and quality systems, could affect the Company’s ability to
deliver products to its customers, which could cause the Company’s results,
prospects, and financial performance to be negatively impacted.
www.bioporto.com
In addition, a full description of risks can be found in BioPorto’s 2024 Annual
Report in the section captioned “Risk Management”, which factors could
materially affect the Group’s business, financial condition, and/or future
results. The risks described in those sections and in this report are not the
only risks BioPorto faces. Additional risks and uncertainties not currently
known to management or the Group or that the Group currently deems to
be immaterial may also have a material adverse effect on the Group’s
business, future opportunities, financial condition, and/or operating
results.
Interim Report BioPorto, first three months of 2025
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