Interim report January – September 2021

(Oslo, 9 November 2021) Genetic Analysis AS (“GA” or “the Company”) hereby publishes the interim report for the period January 1 – September 30, 2021. The interim report is available as an attached file to this release and on the Company’s website. Below is a summary of the report.

Genetic Analysis CEO Ronny Hermansen comments:
“We see the microbiome as a gamechanger in health and medicine moving forward. The Company’s recent financial injection paired up with our pioneering technology puts GA in an excellent position to realize our goal of being at the forefront of microbiome diagnostics and generate long-term value to its shareholders.”

Q3 2021 (01.07.2021 – 30.09.2021)

  • Sales amounted to NOK 1,7 million (0,9)
  • Operating income amounted to NOK 2,3 million (1,3)
  • Net profit/loss amounted to NOK -6,8 million (-4,4)
  • Total assets amounted to NOK 96,3 million (62,9)
  • Equity ratio amounted to 83% (86%)
  • Earnings per share amounted to NOK -0,27 (-0,25)

Q1 – Q3 2021 (01.01.2021 – 30.09.2021)

  • Sales amounted to NOK 4,0 million (3,8)
  • Operating income amounted to NOK 5,8 million (4,7)
  • Net profit/loss amounted to NOK -21,9 million (-14,3)
  • Total assets amounted to NOK 96,3 million (62,9)
  • Earnings per share amounted to NOK -0,88 (-0,83)

Highlights Q3 2021

  • Total operating income of NOK 2,3 million in Q3 2021, up 77% from Q3 2020. Net loss was NOK -6,8 million compared to NOK -4,4 million in the corresponding quarter in 2020.
  • Sales revenues of NOK 1,7 million, an 89% growth compared to Q3 2020.
  • Reached the final stage of technology transfer for GA-map® platform to a German laboratory. Commercial sales expected to start in Q1 2022.
  • GA raised NOK 60,1 million (before share issuing costs) in a significantly oversubscribed IPO-process securing funding for ramping up the commercialization of the GA-map® platform in the fast-growing microbiome market in the US, Europe and Asia.
  • GA continued to strengthen the intellectual property position and secured allowance for grant in Australia of the algorithm patent “Method for determining gastrointestinal tract dysbiosis”.
  • GA co-develops HumGut – the world’s first complete database of over 30.000 bacterial genomes found in the human gut. The first scientific publication was published in the leading journal Microbiome in their July 2021 edition.

Highlights after the period

  • On 1 October, GA was successfully listed on the Spotlight Stock Market.
  • On 14 October, GA received an important patent allowance in China. The patent entitled “A method for determining gastrointestinal tract dysbiosis” covers the Company’s unique algorithm incorporated in the GA-map® technology for profiling gut microbiota.
  • On 19 October, GA entered a service agreement with Eurofins ADME BIOANALYSES – The first CRO to offer the GA-map® Microbiome test.
  • On 28 October, GA was awarded an important US patent covering a companion diagnostic method for optimizing IBS interventions.

For further information, please contact:

Ronny Hermansen, CEO


About Genetic Analysis 

Genetic Analysis AS (GA) is a science-based diagnostic company and pioneer in the human microbiome field with more than 10 years of expertise in research and product development.  The unique GA-map® platform is based on a pre-targeted multiplex approach specialized for simultaneous analysis of a large number of bacteria in one reaction. The test results are generated by utilizing the clinically validated cutting edge GA-map® software algorithm. This enables immediate results without the need of further bioinformatics work. GA’s vision is to become the leading company for standardized gut microbiota testing worldwide, and GA is committed to help unlocking and restoring the human microbiome through its state-of-the-art technology. GA holds 22 highly qualified employees with relevant scientific backgrounds and with competence in bioinformatics, molecular biology, and bioengineering.

Please read the full Interim Report Q3 2021.