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Mainz Biomed (MYNZ) investor relations material

Mainz Biomed H2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2024 earnings summary1 Apr, 2025

Executive summary

  • Focused on at-home molecular diagnostics for early cancer detection, especially colorectal cancer, with flagship product ColoAlertⓇ and next-gen pipeline targeting advanced adenomas and pancreatic cancer.

  • Disruptive decentralized business model enables broad lab access and international expansion.

  • Strategic partnerships with Thermo Fisher Scientific and Quest Diagnostics to advance next-gen colorectal cancer screening and U.S. commercialization.

  • Lab network revenue grew 33% year-over-year, driven by strong demand for ColoAlertⓇ in Europe.

  • Early 2025 updates include Nasdaq compliance and first patient enrolled in eAArly DETECT 2 study.

Financial highlights

  • 2024 revenue: $893,991, nearly flat compared to $895,479 in 2023.

  • Gross profit: $574,883 (64% margin) in 2024, up from $509,659 (57%) in 2023.

  • Net loss: $(21,650,663) in 2024, improved from $(26,295,727) in 2023.

  • Operating expenses: $19.3M in 2024, down from $27.2M in 2023.

  • Cash and equivalents at year-end 2024: $6.2M, down from $7.1M in 2023; total debt: $6,046,543.

Outlook and guidance

  • Targeting U.S. market entry and FDA pivotal study with Quest Diagnostics as lab partner.

  • Advancing next-gen mRNA-based CRC and pancreatic cancer screening tests, with large-scale clinical trials planned.

  • Focus for 2025 is on expanding ColoAlertⓇ in Europe, developing next-gen CRC screening, and advancing eAArly DETECT 2 study.

  • Top-line results from eAArly DETECT 2 expected by end of 2025.

  • Strategic cost management and targeted investments to continue.

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Frequently asked questions

Mainz Biomed NV is a Germany-based molecular genetics diagnostic company focused on early detection of cancer. The company develops and commercializes in-vitro diagnostic tests, including non-invasive screening tools for colorectal cancer and other conditions. It operates in European and global markets with a focus on regulated clinical validation. The company is headquartered in Mainz, Germany, and its shares are listed on the NASDAQ.

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