Marinomed Biotech presented figures for the first nine months of 2020 on Thursday. The Austrian biotech company reports an increase in sales from 3.3 million euros to 5.1 million euros. “The demand for Carragelose products accelerated further in the third quarter,” says Marinomed. Before interest and taxes, the company reduced its loss from 5.3 million euros to 4.3 million euros. The bottom line is that the loss falls from 6.2 million euros to 4.8 million euros.
“More and more studies are showing the high effectiveness of Carragelose® against numerous types of respiratory viruses. Carragelose also neutralizes the new SARS-CoV-2 virus and can thereby protect cells from infection, as laboratory data show. We would now like to prove this in clinical studies in order to provide safe and inexpensive technology in the fight against the pandemic. Our record sales prove that the knowledge about the high effectiveness of Carragelose is gaining more and more acceptance on the market ”, says Andreas Grassauer, CEO of Marinomed Biotech AG. “Thanks to forward-looking supply chain management, Marinomed can meet short-term leaps in demand faster and faster. In addition, the positive data against SARS-CoV-2 have led to increased interest from international companies in sales partnerships, ”said the manager.
For 2020 the Austrians expect a strong increase in sales, but further negative results due to investments in research and development. Only in the medium term will one show operating profits, so Marinomed Biotech.
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