EIRGENIX'S REVENUE REACHES A RECORD HIGH IN JUNE
2019/07/10 - EirGenix, Inc. (6589) has just announced its June financial reports, citing its revenue at a record month high of NTD 100,438,000. The monthly revenue in June is a historical best for EirGenix, surpassing the monthly revenue in same period last year by over five-fold. Furthermore, the company's accumulated revenue for the first half of 2019 has reached a total of NTD 230 million, which represents a 56% increase in revenue over the same period last year.
EirGenix's high revenue in June was driven by increased sales of CDMO services and APIs, and the recognition of the signing fee received from EirGenix's licensing agreement signed with Sandoz AG for EirGenix's EG12014/EGI014 product (Trastuzumab Biosimilar). The large rise in June's monthly revenue was associated with the sale of a supply of EG12014/EGI014 API to a U.S. client that has developed innovative immune-therapeutics in the treatment of HER2-positive breast cancer where EG12014/EGI014 is a key ingredient in their innovative drug. As the client is in need of material for pre-clinical and human clinical trials, the volume of the API sale last month was significantly larger than average. As the clients's innovative drug is expected to enter post-Phase II clinical trials, it can be expected that its demand for EG12014/EGI014 will subsequently increase as well, leading to even greater revenue streams for EirGenix. Therefore, EirGenix s development of the EG12014/EGI014 project does not only have sales potential in the biosimilar market, but also as intermediate products for other associated final products and applications.
EirGenix, Inc. (6589) is deeply committed in further developing its CDMO and product development business units, and hopes to expand and grow each division steadily in order to surpass the post-IPO expectations of its investors.