Reported Earnings • May 11
First quarter 2026 earnings released First quarter 2026 results: Revenue: kr.1.30m (up 8.4% from 1Q 2025). Net loss: kr.2.61m (loss narrowed 6.2% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Full year 2025 earnings released Full year 2025 results: Revenue: kr.8.90m (up 25% from FY 2024). Net loss: kr.10.4m (loss narrowed 28% from FY 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Dec 13
ViroGates A/S, Annual General Meeting, Apr 23, 2026 ViroGates A/S, Annual General Meeting, Apr 23, 2026. New Risk • Nov 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (kr.8.1m revenue, or US$1.3m). Market cap is less than US$100m (kr.159.2m market cap, or US$24.7m). Announcement • Nov 29
ViroGates A/S has completed a Follow-on Equity Offering in the amount of DKK 19.265279 million. ViroGates A/S has completed a Follow-on Equity Offering in the amount of DKK 19.265279 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,547,412
Price\Range: DKK 12.45
Transaction Features: Subsequent Direct Listing Announcement • Nov 19
ViroGates A/S has filed a Follow-on Equity Offering in the amount of DKK 19.265279 million. ViroGates A/S has filed a Follow-on Equity Offering in the amount of DKK 19.265279 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,547,412
Price\Range: DKK 12.45
Transaction Features: Subsequent Direct Listing Reported Earnings • Nov 09
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr.1.67m (down 44% from 3Q 2024). Net loss: kr.1.93m (loss narrowed 13% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 22
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: kr.3.67m (up 240% from 2Q 2024). Net loss: kr.3.25m (loss narrowed 21% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Board Change • Jun 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Chairman Patrik Dahlen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 21
Full year 2024 earnings released Full year 2024 results: Revenue: kr.7.14m (up 2.2% from FY 2023). Net loss: kr.14.3m (loss widened 19% from FY 2023). New Risk • Feb 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr.71.5m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr.12m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Market cap is less than US$10m (kr.71.5m market cap, or US$9.99m). Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (kr.7.2m revenue, or US$1.0m). Announcement • Dec 21
ViroGates A/S, Annual General Meeting, Apr 24, 2025 ViroGates A/S, Annual General Meeting, Apr 24, 2025. Reported Earnings • Nov 08
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr.3.00m (up 15% from 3Q 2023). Net loss: kr.2.23m (loss widened 4.7% from 3Q 2023). New Risk • Oct 23
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: kr.6.9m (US$999k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr.13m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Shareholders have been substantially diluted in the past year (93% increase in shares outstanding). Revenue is less than US$1m (kr.6.9m revenue, or US$999k). Market cap is less than US$10m (kr.38.7m market cap, or US$5.60m). Announcement • Oct 15
ViroGates A/S Maintains Earnings Guidance for the Full-Year of 2024 ViroGates A/S maintained earnings guidance for the full-year of 2024. For the year, the company expects revenue to be between DKK 4.5 million to DKK 6 million. Loss before tax and interest (LBIT) to be approximately DKK 14 million to DKK 15.5 million. Reported Earnings • Aug 16
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr.1.08m (down 33% from 2Q 2023). Net loss: kr.4.09m (loss widened 10% from 2Q 2023). Reported Earnings • May 03
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr.1.54m (up 41% from 1Q 2023). Net loss: kr.3.60m (loss widened 22% from 1Q 2023). Reported Earnings • Mar 21
Full year 2023 earnings released Full year 2023 results: Revenue: kr.6.99m (down 54% from FY 2022). Net loss: kr.12.1m (loss widened 25% from FY 2022). New Risk • Dec 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 93% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Shareholders have been substantially diluted in the past year (93% increase in shares outstanding). Market cap is less than US$10m (kr.46.3m market cap, or US$6.82m). Minor Risk Revenue is less than US$5m (kr.9.5m revenue, or US$1.4m). Announcement • Nov 10
ViroGates A/S has filed a Follow-on Equity Offering in the amount of DKK 15.077282 million. ViroGates A/S has filed a Follow-on Equity Offering in the amount of DKK 15.077282 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,350,507
Price\Range: DKK 4.5
Transaction Features: Rights Offering Reported Earnings • Nov 10
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr.2.62m (up 65% from 3Q 2022). Net loss: kr.2.13m (loss narrowed 28% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Announcement • Sep 23
ViroGates A/S Announces Positive Results from a Randomized Controlled Clinical Trial on Supar-Guided Antibody Treatment in Sepsis ViroGates A/S announces positive results of a randomized controlled clinical trial on suPAR-guided antibiotic treatment in sepsis presented today, Friday the 22nd of September 2023, at the European Shock Conference in Vienna, Austria by Dr Maria Adami from the Hellenic Sepsis Group. Sepsis is a deadly disease and is estimated to account for around 11 million deaths annually. Early treatment is pivotal but often not initiated, as early diagnosis is missed. Current guidelines suggest that patients admitted to the emergency department should be treated for sepsis if they have at least two of three signs of risk for sepsis (2 or 3 points in the qSOFA score system). However, if a patient has only one sign of risk, treatment is often delayed to limit the use of unnecessary antibiotics. However, some patients with only one risk sign require early treatment to prevent progression and the challenge is to find the ones that benefit from early treatment. It has previously been shown that suPAR is a strong prognostic biomarker in sepsis, and during the COVID-19 pandemic, suPAR-guided treatment with anakinra was shown to reduce progression to respiratory failure. Today, Dr Maria Adami, on behalf of the Hellenic Sepsis Group, has reported the results of the SUPERIOR double-blinded, randomized clinical trial, recruiting patients with suspected infections visiting the ED from two hospitals in Greece, presenting with one risk sign (1 point in the qSOFA score) and a suPAR level equal to or above 12 ng/ml. 1650 patients were screened for their suPAR level in the ED using suPARnostic® and 91 patients with a qSOFA score of 1 and suPAR equal to or above 12 ng/ml were randomized to receive either one dose of meropenem, an antibiotic treatment (44 patients), or one dose of placebo (47 patients). The study met its primary endpoint: Meropenem treatment guided by suPARnostic® was accompanied by significantly lower odds for progression into sepsis compared to placebo (OR: 0·28, 95% CI 0·10 0·76, p = 0·012). An additional significant benefit for patients treated early with meropenem was a relative decrease in their SOFA score on day 2 and a significantly faster recovery from the infection. The SUPERIOR study shows that the measurement of suPAR in patients with one risk sign (1 point of qSOFA score) identifies a subgroup of patients at high risk of an unfavorable outcome and early deterioration if not treated. These patients receive significant benefits from early meropenem treatment, guided by suPARnostic®. The SUPERIOR trial is chaired by Professor Evangelos J. Giamarellos-Bourboulis from The National and Kapodistrian University of Athens and President of the Hellenic Institute for the Study of Sepsis. Announcement • Aug 18
Virogates Provides Earnings Guidance for 2023 ViroGates provided earnings guidance for 2023. for the period, company expected revenue between DKK 8 million to DKK 11 million and expects EBIT of DKK 10 million to DKK 13 million. Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr.1.61m (down 48% from 2Q 2022). Net loss: kr.3.71m (loss widened 93% from 2Q 2022). New Risk • Aug 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr.65.1m (US$9.51m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr.14m free cash flow). Market cap is less than US$10m (kr.65.1m market cap, or US$9.51m). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Revenue is less than US$5m (kr.13m revenue, or US$1.9m). Reported Earnings • May 06
First quarter 2023 earnings released First quarter 2023 results: Revenue: kr.1.09m (down 66% from 1Q 2022). Net loss: kr.2.94m (flat on 1Q 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Revenue: kr.15.2m (up 99% from FY 2021). Net loss: kr.9.65m (loss narrowed 45% from FY 2021). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
ViroGates A/S Announces CE-IVD approval for suPARnostic® TurbiLatex on the Roche Diagnostics cobas® Pure and Pro instrument platforms ViroGates A/S announced that it has completed the development and regulatory approval (CE-IVD in Europe) of its suPARnostic® TurbiLatex product for the Roche instrument series cobas® Pure and cobas® Pro. The instruments are the two most recent from the global market leader Roche Diagnostics. The systems are different in size and have throughput ranges of approximately 500 and 1000 per hour respectively. They are supposed to cover immunochemistry analysis in the mid- to large-volume segments for Roche Diagnostics. Both systems are fully automated requiring no manual handling from the blood sampling until results are processed and are already being installed in various hospitals. The approval of suPARnostic® TurbiLatex for the Roche Pure® and Pro® systems complements the previous approvals for the other Roche systems cobas® 6000 and 8000 series, as well as product series from other instrument providers such as Abbott, Siemens Healthineers and Beckman Coulter. The suPARnostic® TurbiLatex product is a pivotal element in ViroGates’ European expansion strategy, focusing on the acute care market. Announcement • Feb 02
ViroGates A/S Announces Chief Financial Officer Changes ViroGates A/S announced that Josephine Baum Jørgensen will be joining ViroGates as the Company's new CFO succeeding Mark da Silva. Josephine is 31 years old and joins ViroGates from a position as Product Owner of the Holiday Allowance Fund at ATP. Josephine has previously worked as a Chief Adviser at Økonomistyrelsen (the Agency for Public Finance and Management) and as a management consultant at Deloitte Consulting, where she has completed several projects within both public management, strategy, and business development. Josephine holds an M.Sc. in Finance and Strategic Management from Copenhagen Business School. During her studies Josephine completed courses at both London School of Economics and Pontifícia Universidade Católica do Rio de Janeiro. Josephine will lead the CFO function with a focus on strategy development and execution, reporting and finance as well as working with the sales and marketing team to improve processes in ViroGates' various sales channels. Josephine will co-manage ViroGates' investor relations activities with CEO Jakob Knudsen. Josephine will join ViroGates on 13th March 2023 and will become part of the Company's management team. Announcement • Dec 07
ViroGates A/S Announces Executive Changes ViroGates A/S announced that chief financial officer, Mark Christian Hvidberg da Silva, is stepping down from his position at the company to pursue new opportunities outside the organization during first quarter 2023. May Britt Dyvelkov, VP Accounting, and Jakob Knudsen, CEO, will manage the CFO tasks until a replacement has been found. Announcement • Oct 06
ViroGates A/S Announces the Publication of A New Study That Shows SsuPAR upar Causes Cardiovascular Disease ViroGates A/S announces that a study published on 4 October 2022 in The Journal of Clinical Investigation states: "Using clinical, genetic and experimental data, a collaborative study between researchers from USA, Sweden and Denmark shows that suPAR is a pathogenic factor for cardiovascular disease". The study used a combination of suPARnostic® products from ViroGates, genetic sequencing and experimental mouse and tissue models to show that suPAR levels were predictive of coronary artery calcification and cardiovascular events in 5,406 participants without previously known coronary disease. The findings are consistent with previous studies showing suPARnostic®'s ability to predict cardiovascular disease. This new study, however, was conducted to determine if suPAR in itself is a factor that causes disease rather than just reflecting it. To determine causality, the researchers measured suPAR and conducted genetic analysis on more than 25,000 individuals. The mutation associated with elevated suPAR was confirmed to provide higher suPAR levels when expressed in cells and mice and showed that an over-expression of suPAR in mice caused atherosclerotic plaques, a common cardiovascular condition that can lead to stroke and other cardiac diseases. The causal role of suPAR was finally confirmed by data from a UK biobank, which confirmed that the particular mutation that gives higher suPAR was associated with an increased risk of cardiovascular disease. Furthermore, a rare mutation associated with lower suPAR levels was associated with a lower risk of cardiovascular disease. The overall conclusion is that the study shows suPAR is causal for developing cardiovascular disease. For ViroGates, suPAR can now be considered a target for preventing and treating cardiovascular diseases. Based on the findings, ViroGates will investigate opportunities and potential pharmaceutical partnerships within cardiology to improve the risk stratification of patients to provide new treatment solutions that lower suPAR and provide a better prognosis for individuals and patients. Announcement • Sep 24
ViroGates announces CE-IVD approval for suPARnostic® TurbiLatex on the Beckman Coulter AU5800 platform ViroGates A/S, announces that it has completed the development and regulatory approval (CE-IVD in Europe) of its suPARnostic® TurbiLatex product for the Beckman Coulter AU5800 platform. September 23, 2022,announcement means hospitals using the Beckman Coulter instrument platform can, from now on, run suPARnostic® TurbiLatex along with their other biomarkers. Beckman Coulter Inc. is a diagnostics company based in California. Beckman Coulter is part of the Danaher Corporation headquartered in Washington. The total turnover of Danaher is approx. 30 billion USD. The Beckman Coulter AU5800 platform is a leading clinical chemistry analyzer that can process around 2,000 samples per hour with a full menu of biomarkers, including biomarkers for therapeutic drug monitoring. The approval of suPARnostic® TurbiLatex for the AU5800 platform complements the previous approvals for the Abbott Architect and Alinity, the Roche Diagnostics cobas systems, and the Siemens Atellica & ADVIA XPT system. The suPARnostic® Turbilatex product is a pivotal element in ViroGates' European expansion strategy focusing on the acute care market. Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr.3.10m (up 71% from 2Q 2021). Net loss: kr.1.93m (loss narrowed 62% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Announcement • Jun 24
ViroGates A/S Provides Revenue Guidance for the Year 2022 and 2023 ViroGates A/S provided revenue guidance for the year 2022 and 2023. For the year 2022, the company expects revenue between DKK 10 million and 13 million.For the year 2023, the company expects revenue between DKK 17 million and 21 million. Board Change • May 31
High number of new directors Independent Director Patrik Dahlen was the last director to join the board, commencing their role in 2022. Announcement • May 31
ViroGates A/S Announces Board Changes ViroGates A/S announced that, as part of a renewal of the Board of Directors, Lars Kongsbak will step down as Chairman with immediate effect and that Patrik Dahlen, currently elected as Non-Executive Director, has been appointed by the Board to succeed Lars Kongsbak as Chairman of ViroGates' Board. Lars Kongsbak was appointed as Chairman of ViroGates' Board in March 2015 and has chosen to stand down as Chairman so that he can focus on his growing responsibilities as CEO of Samplix A/S. Lars will continue to serve as a Non-Executive Director on ViroGates' Board. Announcement • May 26
ViroGates Announces the CE-Ivd Accreditation of Its Finger-Prick Blood-Testing Product, Suparnostic® Poc+ ViroGates A/S announces the successful CE-IVD accreditation of its novel point-of-care finger prick analysis product for the detection of suPAR. The suPARnostic® POC+ product now has full CE-IVD accreditation for use in professional healthcare settings to identify inflammation and immune activation by measuring suPAR. The product will be sold under the brand name suPARnostic® POC+. The suPARnostic® POC+ development is a collaboration between ViroGates, and Austria based GENSPEED Biotech GmbH and is based on the GENSPEED Technology that allows for quick and fully automated processing of finger-prick blood to help the hospital sector to triage patients better and faster. The analysis takes approximately 20 minutes to conduct. The product can potentially incorporate more biomarkers into the same panel in the future. ViroGates and GENSPEED attempted to incorporate C-reactive protein during the product development phase, but the results were not within the required quality for clinical use. The plan is to run a comprehensive handling study with a clinical partner to ensure that all product features are adequate in the clinical setting before a full commercial rollout. The commercial rollout is expected to start in First Quarter 2023 and will not have a financial impact on 2022 results. Reported Earnings • May 06
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr.3.20m (up 64% from 1Q 2021). Net loss: kr.2.97m (loss narrowed 36% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Feb 18
ViroGates A/S announces successful finalization of the development project with DIESSE Diagnostica Senese S.p.A ViroGates A/S announced the successful finalization of the development project with DIESSE Diagnostica Senese S.p.A. for adaption of suPARnostic® ELISA on DIESSE's Chorus Trio platform. The suPARnostic® ELISA product now has full CE-IVD accreditation. The product can be run on the Chorus Trio platform and deliver results in less than one hour. The Chorus platform is particularly suited for batch collection and analysis of suPAR on a small to medium amount of samples. It will be important in handling COVID-19 samples in many hospitals that do not have access or capacity to run high-throughput systems like the suPARnostic® TurbiLatex. The Chorus Trio system has over 150 available tests in more than 3,000 clinical units ranging from hospitals to larger health clinics in approximately 100 countries. Reported Earnings • Nov 12
Third quarter 2021 earnings released The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: kr.1.17m (down 37% from 3Q 2020). Net loss: kr.4.32m (loss widened 15% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: kr.1.82m (up 139% from 2Q 2020). Net loss: kr.5.05m (loss widened 16% from 2Q 2020). Announcement • May 04
ViroGates A/S and the Hellenic Institute for the Study of Sepsis Announce Positive Top-Line Results from the Save-More Study ViroGates A/S and the Hellenic Institute for the Study of Sepsis announced positive top-line results from the SAVE-MORE study. SAVE-MORE is an investigator-sponsored study, which assessed the effect of suPAR-guided anakinra treatment in moderate to severe COVID-19 pneumonia patients. The results show that early, suPAR-guided use of anakinra in addition to the current standard of care in hospitalised patients with poor prognosis, as demonstrated by an elevated suPAR level (above 6 ng/ml), prevented either death or progression to severe respiratory failure, whilst increasing the number of patients who were discharged from hospital with no evidence of COVID-19 infection. SAVE-MORE is a multicenter, double-blinded, randomised controlled trial in over 600 hospitalised patients that specifically identifies those at risk of severe respiratory failure by the measurement of elevated suPAR (soluble urokinase plasminogen activator receptor), a plasma biomarker that reflects immune activation and has been previously associated with poor prognosis in a number of conditions. The study is sponsored by the Hellenic Institute for the Study of Sepsis (HISS) in Greece and led by its President and Chairman, Professor Evangelos J. Giamarellos-Bourboulis. Giamarellos-Bourboulis is Professor of Internal Medicine and Infectious Diseases at the National and Kapodistrian University of Athens, President of the European Shock Society and Chairman of the European Sepsis Alliance. Analysis of the primary endpoint, the comparative 11-point WHO Clinical Progression ordinal Scale (CPS)i, at day 28 demonstrated significant improvement in patients with elevated suPAR levels receiving standard-of-care treatment plus anakinra vs patients with elevated suPAR levels receiving standard-of-care plus placebo (Odds Ratio 0.36, p<0.001). There were reductions in the number of patients who died or who progressed to severe respiratory failure and an increase in the number of patients discharged from hospital with no evidence of COVID-19 infection. These changes were apparent at day 14 (Odds Ratio 0.59, p= 0.001). ViroGates intends to participate in discussions with regulatory authorities concerning the results. Reported Earnings • May 04
First quarter 2021 earnings released: kr.1.37 loss per share (vs kr.2.04 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: kr.2.08m (up 367% from 1Q 2020). Net loss: kr.4.27m (loss narrowed 31% from 1Q 2020). Announcement • Feb 13
ViroGates A/S Announces Clinical Routine Use in Greece ViroGates A/S announced new clinical routine customers in Greece. ViroGates has received the first order from a new clinical routine customer located in the Attica region close to Athens. The customer is a public hospital offering a range of services, including acute care. The hospital has 550 beds, and the uptake population of the hospital is approximately 550,000 people. The hospital will immediately implement suPARnostic® TurbiLatex on its Roche cobas 501 system for use in the emergency department. The hospital became aware of the possibilities with suPARnostic® through its participation in the recently announced SAVE-MORE study. In addition to this customer, ViroGates has started receiving TurbiLatex orders from two other hospitals in Greece. ViroGates' local sales agent now equally considers these two hospitals as clinical routine customers due to the orders' recent recurring nature. Is New 90 Day High Low • Feb 04
New 90-day high: kr.94.00 The company is up 45% from its price of kr.65.00 on 05 November 2020. The Danish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 11% over the same period. Announcement • Feb 03
ViroGates A/S Announces a New Private Hospital as Clinical Routine Customer in Spain ViroGates A/S announced the first order from a new clinical routine customer in Spain. The customer, Policlínica Nuestra Señora del Rosario, is a private hospital located in Ibiza. The hospital has around 70 beds offering both acute care treatment and outpatient treatments for locals and tourists. The uptake population of the hospital is approximately 50,000 people. The hospital also has three smaller associated clinics. The hospital will immediately implement suPARnostic® TurbiLatex on its Roche cobas 501 system. The hospital has decided to start using suPARnostic® based on references from other hospital users in Spain. The hospital wants to use suPARnostic® to improve triaging of COVID19 patients and also generally of patients in its acute care function. Announcement • Jan 28
ViroGates A/S Announces Initiation of A Clinical Trial with Hiss to Clinically Validate Its Commercial Biomarker Test for Guiding Early Anakinra Treatment of Covid-19 Patients Across 42 Hospitals ViroGates A/S announced that it has initiated a clinical study to be conducted in collaboration with HISS (Hellenic Institute for the Study of Sepsis) to clinically validate suPARnostic for guiding early anakinra treatment of COVID-19
patients. suPAR is a naturally occurring protein measurable in all humans reflecting immune activation and is associated with inflammation and adverse outcomes across life-threatening diseases. suPAR can be measured as a biomarker using the suPARnostic TurbiLatex and Quick Triage products and is currently being used in existing hospital workflows and instruments across Europe. suPARnostic TurbiLatex is validated for use on clinical chemistry analysers from Roche Diagnostics, Siemens Healthineers, and Abbott. An exploratory study from October 20203, currently undergoing peer review, shows initial positive results using suPAR-guided anakinra treatment to prevent severe respiratory failure (SRF) for COVID- 19 patients. The reported data include 130 COVID-19 patients with suPAR levels above 6 ng/mL undergoing anakinra treatment and 130 matched controls who did not receive anakinra treatment. Results showed that the incidence of SRF among treated patients was 22.3% compared to 59.2% among untreated comparators. Mortality after 30 days was 11.5% and 22.3%, respectively. HISS has initiated a study to clinically validate the exploratory study's findings. The study is an interventional, confirmatory, phase III randomized clinical trial (RCT) aiming to evaluate the efficacy and safety of early start of anakinra treatment guided by suPAR in COVID-19 patients in improving the clinical outcome for COVID-19 patients over 28 days. The study will enrol 600 patients across 42 hospitals in Greece and Italy. The primary outcome is measured by the ordinal scale of the 11-point WHO clinical progression scale ranging from the best outcome (asymptomatic) to the worst outcome (death). Secondary outcomes such as cost of hospitalization, time until discharge and rate of adverse events will also be measured. ViroGates will provide suPARnostic® test kits for the clinical trial. HISS has initiated a study to clinically validate the exploratory study's findings. The study is an interventional, confirmatory, phase III randomized clinical trial (RCT) aiming to evaluate the efficacy and safety of early start of anakinra treatment guided by suPAR in COVID-19 patients in improving the clinical outcome for COVID-19 patients over 28 days. The study will enrol 600 patients across 42 hospitals in Greece and Italy. The primary outcome is measured by the ordinal scale of the 11-point WHO clinical progression scale ranging from the best outcome (asymptomatic) to the worst outcome (death). Secondary outcomes such as cost of hospitalization, time until discharge and rate of adverse events will also be measured. ViroGates will provide suPARnostic test kits for the clinical trial. Announcement • Jan 09
ViroGates A/S Announces Delay in the Development and Launch of suPARnostic POC+ Product ViroGates A/S announced that the development of the company's new point-of-care product, suPARnostic POC+,will be delayed to the second half of 2021. suPARnostic POC+ is co-developed with Austrian-based GENSPEED Biotech GmbH and will enable the measurement of both suPAR and CRP in a blood sample from a fingerprick. The product will expand the addressable market for ViroGates to pre-hospital customers, general practitioners, and others. The reason for the delay is related to QC/QA specification development that has been delayed as a result of the COVID-19 pandemic in Austria during the second half of 2020. The final steps of the product development and manufacturing is pivotal and required from a regulatory point to have completed before a clinical validation study can be initiated. Announcement • Nov 25
ViroGates Announces Receipt of the First Order from Mikkeli Central Hospital in Finland ViroGates A/S announced that it has received an order from a new clinical routine customer in Finland. The customer is Mikkeli Central Hospital. This customer is the first hospital to use suPARnostic TurbiLatex in clinical routine in Finland. Mikkeli is the central hospital in Mikkeli and is also serving the uptake population in neighbouring municipalities. The hospital has an uptake population of about 100,000 inhabitants and approximately 200 beds. The implementation has followed a process of pilot use of the suPARnostic TurbiLatex product in a large cohort of approx. 1,700 patients and the findings of the study will be published shortly. The Hospital, however, has decided to implement suPARnostic TurbiLatex immediately to broadly improve triage in the emergency department. The hospital has therefor submitted the first order to ViroGates. Is New 90 Day High Low • Nov 25
New 90-day high: kr.67.50 The company is up 18% from its price of kr.57.00 on 26 August 2020. The Danish market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is down 5.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total losses of kr.21.1m, with losses widening by 35% from the prior year. Total revenue was kr.3.52m over the last 12 months, down 11% from the prior year. Announcement • Sep 26
Virogates Announces Receipt of A First Order from the University Hospital of Salamanca, A New Clinical Routine Customer in Spain ViroGates A/S announced that it has received an order from a new clinical routine customer in Spain, the University Hospital of Salamanca. The hospital is affiliated with the oldest university in Spain and is generally highly regarded for its clinical research. The hospital is a leading hospital in the region Castilla y León, and has an uptake population of around 300,000 inhabitants and 900 beds. The implementation has followed a process of pilot use of the suPARnostic® TurbiLatex product and the hospital has decided to implement suPARnostic® TurbiLatex to improve triaging based on the underlying data from both international use but also experience elsewhere in the Spanish market. The hospital has on this background via the central purchasing department sent the first order to ViroGates for future clinical use in the emergency department. 