(AOF) – Genoway announces a positive net result of 778,000 euros in 2022, against a net loss of 323,000 euros in 2021. This biotechnology company specializing in the design of predictive preclinical solutions for the selection of the most effective drug candidate and the safest, emphasizes that its operating cash flow is “positive for the first time since the initiation of the strategic plan in 2019”. Turnover is up 22% over one year to 11 million euros, and EBITDA is up 119% to 3.2 million euros.
In terms of the financial structure, shareholders’ equity amounted to 15.4 million euros at December 31, 2022 compared to 14.6 million euros at the end of 2021. Available cash was 4.9 million euros, including the repayment of 1.8 million euros of financial loans during the year.
“The 2023 financial year should be part of a dynamic of sustained growth, similar to 2022, still driven by the development of the Catalog offer, with more complex models and higher added value”, announces Genoway, which is counting on ” a strong acceleration “in sales which will contribute to achieving the objective of 30 million euros in turnover set at the initiation of the strategic plan. This should make it possible to maintain profitability at a high level, “of the same order of magnitude as that observed in 2022”.
Genoway announces that it will unveil during the second half of 2023 a new 5-year strategic plan aimed at providing visibility on the Company’s new areas of development and its commercial ambitions.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.