Median Technologies: drop of 15%

Photo credit © ChaunuPictures

( — Median Technologies fall of 15% this Friday to 2.80 euros, while as of March 31 (1st quarter), revenues stood at 5.4 million euros, comparable to those of the 1st quarter of 2023. Revenues are generated entirely by the iCRO ​​activity, which provides imaging services for oncology clinical trials for biopharmaceutical companies worldwide. The order book amounts to 68.2 ME, an increase compared to the order book as of December 31, 2023 (66.8 ME). As of March 31, 2024, the company’s order book is at its highest level ever.

The company’s cash flow was €20.9 million as of March 31, 2024. On January 4, 2024, the cash flow was strengthened by the drawing of 8.5 million euros, corresponding to the last tranche of the loan granted by the EIB ( European Investment Bank) in December 2019. Historically, the first quarter of the year is characterized by greater internal and external spending, which generates greater cash burn over this period. Cash consumption over the first quarter is not representative of the average quarterly cash consumption over a year.

As of December 31, 2023, Median recorded an operating loss of €23.1 million, comparable to the operating loss in 2022. The company considers itself in a position to finance its operations until the second quarter of 2025.
Portzamparc underlines that the company knows how to control its ‘cash burn’ with a rather reassuring publication from a financial point of view…


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