March 26, 2020 / 6:37 PM / 14 days ago

BRIEF-Quantum Genomics FY Net Loss Narrows To 9.1 Million Euros

March 26 (Reuters) - Quantum Genomics SA:

* FY 2019 SHOW -EUR10.8 MILLION IN OPERATING LOSS COMPARED TO -EUR13.6 MILLION YEAR AGO

* QUANTUM GENOMICS SECURED NEW FINANCING, PUBLISHED ITS FINANCIAL STATEMENTS FOR FISCAL YEAR 2019 AND PROVIDES 2019 HIGHLIGHTS

* DESPITE CURRENT PUBLIC HEALTH CRISIS AND ANY FINANCIAL CONSEQUENCES IT MAY HAVE, FACT THAT QUANTUM GENOMICS HAS SECURED NEW FINANCING CONFIRMS THAT INVESTORS REMAIN CONFIDENT IN ITS OUTLOOK

* THIS ROUND OF FINANCING, WHICH INCLUDES A LOAN NOT TO EXCEED EUR 8 MILLION AND ISSUE OF SHARE SUBSCRIPTION WARRANTS, WAS SECURED AS PART OF AN AGREEMENT WITH NEGMA GROUP LTD, DATED MARCH 26, 2020

* THIS FINANCING WILL BE RENEWABLE TWO TIMES, BY MUTUAL CONSENT BETWEEN QUANTUM GENOMICS AND NEGMA GROUP LTD, AND WILL PROVIDE QUANTUM GENOMICS WITH A MAXIMUM OF EUR24 MILLION

* FY FREE CASH FLOW (NET CASH FROM OPERATING ACTIVITIES) WAS -EUR10.7 MILLION DURING THIS PERIOD

* FY NET LOSS OF EUR 9.1 MILLION VERSUS LOSS OF EUR 11.9 MILLION YEAR AGO

* COMPANY HAS NO FINANCIAL LIABILITIES AND AVAILABLE CASH FLOW REACHED EUR 11.2 MILLION AT END-DEC 2019 VERSUS EUR14.8 MILLION AT DEC 31, 2018

* 2019 FREE CASH FLOW (NET CASH FROM OPERATING ACTIVITIES) WAS -EUR10.7 MILLION Source text: bit.ly/3alKLKX Further company coverage: (Gdansk Newsroom)

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