Announcement • Sep 26
MDxHealth SA has filed a Follow-on Equity Offering in the amount of $40 million. MDxHealth SA has filed a Follow-on Equity Offering in the amount of $40 million.
Security Name: Ordinary Shares
Security Type: Common Stock Announcement • May 03
MDxHealth SA Revises Earnings Guidance for the Year 2024 MDxHealth SA revised earnings guidance for the year 2024. For the period, the company is increasing 2024 revenue guidance to $83 million to 85 million from the previous $79 million to 81 million. Announcement • May 01
MDxHealth SA has filed a Follow-on Equity Offering in the amount of $50 million. MDxHealth SA has filed a Follow-on Equity Offering in the amount of $50 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Mar 13
Mdxhealth Adds Hereditary Prostate Cancer Genetic Test to Prostate Cancer Offering Mdxhealth SA announced the introduction of a non-invasive genetic prostate cancer test through its urology sales channel. With a simple saliva sample, the new comprehensive hereditary prostate cancer test offering provides insights into a patient's risk of developing cancer, disease progression, and response to prostate cancer therapies.ermline testing of prostate cancer patients is recommended in the National Comprehensive Cancer Network (NCCN) guidelines and is covered by Medicare and many commercial insurance plans, for eligible patients. Prostate cancer remains a leading cause of cancer-related death among men, with an estimated 288,300 new diagnoses and 34,700 deaths annually. The Company's tests are based on proprietary genomic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis and prognosis of neurological cancers and other urologic diseases. Announcement • Mar 07
MDxHealth SA Maintains Earnings Guidance for the Year 2024 MDxHealth SA maintained earnings guidance for the year 2024. For the year, the company is maintaining its previously issued 2024 revenue guidance of $79-81 million. Announcement • Feb 16
MDxHealth SA Announces Jan Pensaert Steps Down from its Board of Directors MDxHealth SA announced that Jan Pensaert has stepped down from the Board of Directors. His resignation was effective as of February 15, 2024. Mr. Pensaert’s resignation is not the result of any disagreement with the Company on any matter relating to the operations, policies or practices of the Company. Announcement • Jan 09
MDxHealth SA Provides Earnings Guidance for the Fourth Quarter and Full Year 2023 and Year 2024 MDxHealth SA provided earnings guidance for the fourth quarter and full year 2023 and year 2024. For the quarter, Company expects revenue of approximately $19.4 million. For the full year 2023, Company expects revenue of approximately $70.2 million. For the year 2024, Company expects revenue $79 million to $81 million. which would represent year-over-year revenue growth of approximately 13%-15%. Announcement • Nov 29
MDxHealth SA Shares No Longer Be Listed and Traded on Euronext Brussels, Effective as of Close of Trading on Euronext Brussels on December 15, 2023 MDxHealth SA announced the completion of the mandatory exchange under the Company's American Depositary Shares ("ADSs") facility (the "Mandatory ADS Exchange"), the start of the transition to a single listing on Nasdaq, and details on the process for repositioning of the Company's shares from the Euronext Brussels trading system to the Nasdaq trading system. The Company announced on October 2, 2023, that its board of directors had determined that it is in the best interest of the Company, its investors and other stakeholders to consolidate all trading of the Company's securities on one exchange in the United States. This transaction involves (1) a share consolidation with respect to all outstanding Company shares by means of a 1-for-10 reverse stock split, which was completed on November 13, 2023 (the "Share Consolidation"), after which ten former Company shares are represented by one new Company share (each new Company share, a "Share"), and each ADS represents one new Share, (2) listing the Shares on Nasdaq, (3) the Mandatory ADS Exchange, (4) a repositioning of the Shares from the Euronext Brussels trading system to the Nasdaq trading system, and (5) following a transition period of at least three weeks after the Mandatory ADS Exchange, the de-listing of the Shares from listing and trading on Euronext Brussels. Following the completion of the Share Consolidation on November 13, 2023, the Company completed the Mandatory ADS Exchange, effective November 27, 2023. As a result of the Mandatory ADS Exchange, ADS holders received Shares that are listed on Nasdaq in exchange for their ADSs on the basis of a ratio of one ADS for one Share, the ADS program will be terminated and the ADSs will cease to be listed and traded on Nasdaq. Effective as of the opening of trading on Nasdaq today, the Shares will be admitted to listing and trading on Nasdaq. During a transition period ending December 15, 2023, the Shares will be listed on both Euronext Brussels and Nasdaq. In view of the foregoing, effective as of close of trading on Euronext Brussels on December 15, 2023, the Shares will no longer be listed and traded on Euronext Brussels. As of that moment on, the Shares will only be listed and traded on Nasdaq. New Risk • Nov 14
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$45m Forecast net loss in 3 years: US$384k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$384k net loss in 3 years). Market cap is less than US$100m (€83.8m market cap, or US$91.0m). Announcement • Nov 11
MDxHealth SA Provides Earnings Guidance for the Year 2023 MDxHealth SA provided earnings guidance for the year 2023. Looking ahead, the company expects strong revenue growth, all leading to its projected turn to operating profitability. With respect to guidance, the company expects to reach the high end of its 2023 revenue guidance of $65 million - $70 million. Announcement • Nov 10
MDxHealth SA Revises Earnings Guidance for the Year 2023 MDxHealth SA revised earnings guidance for the year 2023. Looking ahead, the company expects strong revenue growth, all leading to its projected turn to operating profitability. With respect to guidance, the company expects to reach the high end of its 2023 revenue guidance of $65 million - $70 million. Reported Earnings • Nov 10
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: US$0.04 loss per share (improved from US$0.078 loss in 3Q 2022). Revenue: US$19.4m (up 74% from 3Q 2022). Net loss: US$10.0m (loss narrowed 26% from 3Q 2022). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) missed analyst estimates by 97%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 30
Consensus EPS estimates fall by 10%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from US$64.4m to US$66.7m. Forecast EPS reduced from -US$0.135 to -US$0.149 per share. Biotechs industry in Belgium expected to see average net income growth of 3.6% next year. Consensus price target of €0.90 unchanged from last update. Share price fell 17% to €0.29 over the past week. New Risk • Aug 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Belgian stocks, typically moving 6.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.2% average weekly change). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$5.5m net loss in 3 years). Market cap is less than US$100m (€87.6m market cap, or US$94.6m). Announcement • Aug 24
MDxHealth SA Reaffirms Revenue Guidance for the Year 2023 MDxHealth SA announced that the company reaffirms full year 2023 revenue guidance of $65 million - $70 million. Reported Earnings • Aug 24
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: US$0.033 loss per share. Revenue: US$16.7m (up 143% from 2Q 2022). Net loss: US$10.6m (loss widened 8.1% from 2Q 2022). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 2.4%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Reported Earnings • May 16
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: US$0.05 loss per share (in line with 1Q 2022). Revenue: US$14.7m (up 141% from 1Q 2022). Net loss: US$11.7m (loss widened 42% from 1Q 2022). Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 10
Full year 2022 earnings released: US$0.28 loss per share (vs US$0.24 loss in FY 2021) Full year 2022 results: US$0.28 loss per share (further deteriorated from US$0.24 loss in FY 2021). Revenue: US$37.1m (up 67% from FY 2021). Net loss: US$44.0m (loss widened 52% from FY 2021). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 24
Third quarter 2022 earnings released: US$0.078 loss per share (vs US$0.06 loss in 3Q 2021) Third quarter 2022 results: US$0.078 loss per share (further deteriorated from US$0.06 loss in 3Q 2021). Revenue: US$11.2m (up 103% from 3Q 2021). Net loss: US$13.5m (loss widened 77% from 3Q 2021). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Dec 02
MDxHealth SA Provides Revenue Guidance for the Fiscal Year 2023 MDxHealth SA provided revenue guidance for the fiscal year 2023. For the period, the company expects revenue guidance to be $65 million - $70 million. Announcement • Nov 30
MDxHealth SA Revises Revenue Guidance for the Fiscal Year 2022 MDxHealth SA revised revenue guidance for the fiscal year 2022. For the period, the company expects revenue guidance to be $36.5 million - $37.5 million from $40 million - $42 million. Price Target Changed • Nov 16
Price target increased to €1.20 Up from €1.00, the current price target is provided by 1 analyst. New target price is 58% above last closing price of €0.76. Stock is down 21% over the past year. The company posted a net loss per share of US$0.24 last year. Announcement • Oct 29
MDxHealth SA Reaffirms Revenue Guidance for the Year 2022 MDxHealth SA reaffirmed revenue guidance for the year 2022. The company’s guidance for 2022 revenue remains unchanged at $40 million to $42 million. Reported Earnings • Oct 28
Third quarter 2022 earnings released: US$0.05 loss per share (vs US$0.059 loss in 3Q 2021) Third quarter 2022 results: US$0.05 loss per share. Revenue: US$11.2m (up 94% from 3Q 2021). Net loss: US$8.61m (loss widened 9.7% from 3Q 2021). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Biotechs industry in Europe. Reported Earnings • Aug 27
Second quarter 2022 earnings released: US$0.072 loss per share (vs US$0.06 loss in 2Q 2021) Second quarter 2022 results: US$0.072 loss per share (down from US$0.06 loss in 2Q 2021). Revenue: US$6.90m (up 22% from 2Q 2021). Net loss: US$9.83m (loss widened 38% from 2Q 2021). Over the next year, revenue is forecast to grow 75%, compared to a 141% growth forecast for the Biotechs industry in Belgium. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 04
MDxHealth SA (ENXTBR:MDXH) acquired Oncotype DX GPS Prostate Cancer Business from Exact Sciences Corporation (NasdaqCM:EXAS) for $100 million. MDxHealth SA (ENXTBR:MDXH) acquired Oncotype DX GPS Prostate Cancer Business from Exact Sciences Corporation (NasdaqCM:EXAS) for $100 million on August 2, 2022. Mdxhealth has financed the acquisition in part through a $35 million loan and security agreement with an affiliate of Innovatus Capital Partners, LLC ("Innovatus"), which loan also replaces the Company’s existing EUR 9 million debt facility with Kreos Capital. Under the terms of the asset purchase agreement an amount of $25 million was paid in cash and an amount of $5 million will be settled through the delivery of 691,171 American Depositary Shares ("ADSs") of the MDxHealth, at a price per ADS of $7.23. Following the closing an additional aggregate earn-out amount of up to $70 million is to be paid by mdxhealth to Exact Sciences upon achievement of certain revenue milestones related to fiscal years 2023 through 2025, with the maximum earn-out payable in relation to 2023 and 2024 not to exceed $30 million and $40 million, respectively. At the option of mdxhealth, the earn-out amounts can be settled in cash or through the issuance of additional ADSs of the MDxHealth to Exact Sciences, provided that the aggregate number of shares representing the ADSs held by Exact Sciences shall not exceed more than 5% of the outstanding shares of mdxhealth.Jefferies LLC acted as sole financial advisor and Foley Hoag acted as lead legal counsel to mdxhealth for the acquisition; Baker McKenzie acted as lead legal counsel to mdxhealth for the debt facility.MDxHealth SA (ENXTBR:MDXH) completed the acquisition of Oncotype DX GPS Prostate Cancer Business from Exact Sciences Corporation (NasdaqCM:EXAS) for $100 million on August 2, 2022. Announcement • Aug 03
MDxHealth SA Provides Earnings Guidance for the Fiscal Year 2022 MDxHealth SA provided earnings guidance for the fiscal year 2022. For the year, the company expects to increasing its total Fiscal Year 2022 revenue guidance to $40-42 million, up approximately 80%-89% above full year 2021 revenues, inclusive of $13 million in expected revenue for the acquired Oncotype DX GPS business over the August to December 2022 period. Announcement • May 27
Mdxhealth Sa Announces Resignation of Rudi Mariën as Non-Executive Director MDxHealth SA at the ordinary annual general shareholders and an extraordinary general shareholders meeting held on May 25, 2022, Rudi Mariën (as permanent representative of RR-Invest S.à.r.l.) presented to the chair of the board of directors the resignation of RR-Invest S.à.r.l. as non-executive director of the Company, effective from May 26, 2022. Announcement • May 20
Palmetto GBA’s MolDX Issues Foundational LCD Covering the Indication for SelectMDx for Prostate Cancer MDxHealth SA announced that Palmetto GBA, a Medicare Administrative Contractor (MAC) that assesses molecular diagnostic technologies under its MolDX program, has finalized a foundational Local Coverage Determination (LCD) for Molecular Biomarkers to Risk-Stratify Patients at Increased Risk for Prostate Cancer that covers the indication for SelectMDx® for Prostate Cancer test. The foundational LCD identifies evidence supporting the clinical utility of SelectMDx test and, when the LCD becomes effective on July 3, 2022, is expected to support coverage of test for qualified Medicare patients throughout the United States. Reported Earnings • May 02
Full year 2021 earnings released Full year 2021 results: Revenue: US$22.2m (up 21% from FY 2020). Net loss: US$29.0m (loss widened 1.2% from FY 2020). Over the next year, revenue is forecast to grow 17%, compared to a 140% growth forecast for the pharmaceuticals industry in Belgium. Price Target Changed • Apr 27
Price target increased to €1.20 Up from €1.00, the current price target is an average from 4 analysts. New target price is 63% above last closing price of €0.73. Stock is down 38% over the past year. The company posted a net loss per share of US$0.24 last year. Announcement • Mar 06
MDxHealth SA Provides Revenue Guidance for the Full Year 2022 MDxHealth SA provided revenue guidance for the Full year 2022. For the Year, Company expects revenue of $25 million to $27 million, representing growth of 13% to 21% over full year 2021 revenue of $22.2 million. Reported Earnings • Mar 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: US$0.24 loss per share (up from US$0.34 loss in FY 2020). Revenue: US$22.2m (up 21% from FY 2020). Net loss: US$29.0m (loss widened 1.2% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 82% growth forecast for the pharmaceuticals industry in Belgium. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 20
First half 2021 earnings released: US$0.12 loss per share (vs US$0.18 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: US$10.7m (up 8.6% from 1H 2020). Net loss: US$13.3m (loss narrowed 3.0% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 06
Full year 2020 earnings released: US$0.34 loss per share (vs US$0.69 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$18.5m (up 57% from FY 2019). Net loss: US$28.7m (loss narrowed 34% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Mar 06
Revenue misses expectations Revenue missed analyst estimates by 5.3%. Over the next year, revenue is forecast to grow 60%, compared to a 2,467% growth forecast for the Biotechs industry in Belgium. Announcement • Feb 17
MDxHealth SA to Report Fiscal Year 2020 Results on Mar 03, 2021 MDxHealth SA announced that they will report fiscal year 2020 results on Mar 03, 2021 Is New 90 Day High Low • Feb 03
New 90-day high: €1.07 The company is up 45% from its price of €0.73 on 04 November 2020. The Belgian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: €1.00 The company is up 42% from its price of €0.71 on 09 September 2020. The Belgian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 5.0% over the same period. Price Target Changed • Nov 26
Price target raised to €1.00 Up from €0.90, the current price target is provided by 1 analyst. The new target price is 12% above the current share price of €0.89. As of last close, the stock is down 13% over the past year. Announcement • Sep 11
MDxHealth SA Suspends 2020 Guidance MDxHealth SA announced that 2020 guidance remains suspended given the challenge to forecast upcoming quarters amid COVID-19. 
