Cibi e Bevande
Biotalys Reports Half-Year 2024 Financial Results and Business Highlights
Press release – regulated information
Ghent, BELGIUM, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Biotalys (Euronext - BTLS), an Agricultural Technology (AgTech) company developing protein-based biocontrols for sustainable crop protection, today announces its key business achievements and consolidated financial results for the first half of 2024, prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' as adopted by the European Union. The complete half-year report including the interim financial results is available here on the Biotalys website.
Kevin Helash, Chief Executive Officer of Biotalys, noted : “The first half of 2024 heralded key milestones for Biotalys in our mission to transform crop protection, such as the partnership with Novonesis for EVOCA NG and the initiation of field trials for BioFun-6, our second biofungicide candidate. Further to the development of EVOCA, I am very pleased to announce we just received approval by the Dutch regulatory authority to do large scale demonstration trials with the product in the Netherlands. The authority has also allowed the sale of the harvested produce for human consumption.”
Helash added: “As a result of the measures implemented at the end of last year to control costs, we have been able to considerably reduce our operating cash burn in the first half of this year. We will continue to concentrate our resources on applying the targeted approach to our research platform, as well as on progressing our various pipeline programs. We will consider additional financing such as through equity, newly awarded grants and partnerships to execute our strategy to transforming crop protection.”
Regulatory update for EVOCA
H1 2024 highlights
* EVOCA™: Pending Registration. This product is not currently registered for sale or use in the United States, the European Union, or elsewhere and is not being offered for sale.
** Decisions of the CTGB are subject to appeal during a period of six weeks following the publication of the decision.
Select financial information
Outlook
Auditor statement
The condensed consolidated financial statements for the six-months' period ended 30 June 2024 have been prepared in accordance with IAS 34 'Interim Financial Reporting' as adopted by the European Union. They do not include all the information required for the full annual financial statements and should therefore be read in conjunction with the financial statements for the year ended 31 December 2023. The condensed consolidated financial statements are presented in thousands of Euros (unless stated otherwise). The condensed consolidated financial statements have been approved for issue by the Board of Directors. The statutory auditor, Deloitte Bedrijfsrevisoren/Reviseurs d'Entreprises, represented by Pieter-Jan Van Durme, has performed a limited review of the interim financial report. The interim financial report for the first half of 2024 and the review opinion of the auditor are available on www.biotalys.com.
Upcoming IR events
Biotalys updated its investor presentation and published it on its website. For a list of upcoming events, please check https://biotalys.com/media/events.
Live webcast and conference call
Company management will host a live webcast to discuss its half-year 2024 results and recent business performance today, 22 August 2024 at 15:00 CEST / 14:00 BST / 09:00 AM EDT .
Webcast link: https://edge.media-server.com/mmc/p/igtczv4g
Dial-in details: To ask questions live to the management, please also register for the conference call via https://register.vevent.com/register/BI369eee1a131a4309b0a6aabb088c0f6a
About Biotalys
Biotalys is an Agricultural Technology (AgTech) company developing protein-based biocontrol solutions for the protection of crops and aiming to provide alternatives to conventional chemical pesticides for a more sustainable and safer food supply. Based on its novel AGROBODY™ technology platform, Biotalys is developing a strong and diverse pipeline of effective product candidates with a favorable safety profile that aim to address key crop pests and diseases across the whole value chain, from soil to plate. Biotalys was founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology) and has been listed on Euronext Brussels since July 2021. The company is based in the biotech cluster in Ghent, Belgium. More information can be found on www.biotalys.com.
For further information, please contact
Toon Musschoot, Head of IR & Communication
T: +32 (0)9 274 54 00
E: IR@biotalys.com
Important Notice
Biotalys, its business, prospects and financial position remain exposed and subject to risks and uncertainties. A description of and reference to these risks and uncertainties can be found in the 2023 annual report on the consolidated annual accounts and the full half-year report.
This announcement contains statements which are "forward-looking statements" or could be considered as such. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'aim', 'believe', 'estimate', 'anticipate', 'expect', 'intend', 'may', 'will', 'plan', 'continue', 'ongoing', 'possible', 'predict', 'plans', 'target', 'seek', 'would' or 'should', and contain statements made by the company regarding the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are warned that none of these forward-looking statements offers any guarantee of future performance. Biotalys' actual results may differ materially from those predicted by the forward-looking statements. Biotalys makes no undertaking whatsoever to publish updates or adjustments to these forward-looking statements, unless required to do so by law.
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
The accompanying notes are an integral part of these condensed consolidated financial statements. Please see the full interim report available on www.biotalys.com.
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE 6 MONTHS ENDED 30 JUNE
The accompanying notes are an integral part of these condensed consolidated financial statements. Please see the full interim report available on www.biotalys.com.
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE 6 MONTHS ENDED 30 JUNE
The accompanying notes are an integral part of these condensed consolidated financial statements. Please see the full interim report available on www.biotalys.com.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE 6 MONTHS ENDED 30 JUNE
The accompanying notes are an integral part of these condensed consolidated financial statements. Please see the full interim report available on www.biotalys.com.
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