AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Microba Life Sciences (ASX:MAP) delivered impressive performance in Q4 FY22 following its successful AU$30 million IPO.
- The company saw 59% growth in unaudited revenue during the June quarter.
- Microba launched a new product, delivered record research projects, and advanced projects under new partnerships
- The company closed the quarter with a strong financial footing.
Microba Life Sciences Limited (ASX:MAP) saw a jump of over 7% in its share price to AU$0.257 in the early hours of 20 July 2022. The precision microbiome company has announced an outstanding Q4 FY22, hitting major strategic milestones and registering record quarterly revenues.
This is the company’s first quarterly result as a publicly traded firm.
Record performance in Q4
Microba is focused on the discovery and development of novel therapeutics for major chronic diseases and providing gut microbiome testing services on a global basis.
Here’s a glimpse of the company’s financial performance in the June 2022 quarter.
Data source: company reports
At the end of the quarter, the company had AU$30.5 million in cash or equivalents. The strong financial position would enable the company to implement its growth strategy and move ahead on the path to advance its therapeutic programs.
Key strategic milestones light up the quarter
With the addition of premium distribution partners in major markets and excellent progress in its therapeutic programs, Microba continued the growth of its scalable testing platform.
Entering the US healthcare market and the Middle East consumer health market - The company made progress on its new distribution partnerships with US-based Genova Diagnostics and G42 Healthcare (the Gulf Cooperation Council or GCC).
The partnership with Midnight Health, a digital healthcare company, is aimed at providing a personalised consumer health service to the Australian market.
Next-generation product - During the quarter, Microba launched a new product that facilitates health professionals to systematically evaluate gut microbiome biomarkers and recognise opportunities to intervene through lifestyle, diet, and supplementation.
Record project deliveries - The company delivered 115 research projects in FY22 and 33 projects in the June 2022 quarter. These projects will expand the company’s international brand recognition and produce robust revenues.
Partnership with International Flavors & Fragrances Inc. (NYSE:IFF) – The company hit a milestone in its joint discovery project with IFF, focused on identifying new allergy treatments by using Microba’s Databank of more than 15,000 gut microbiome samples and related health data.
Advancement of therapeutic programs - During the quarter, Microba carried out significant progress in three therapeutic programs
- Inflammatory bowel disease program
- Immuno-Oncology program
- Autoimmune Disease program
Strengthened team - Microba appointed Professor Trent Munro as Senior Vice President of Therapeutics. Professor Munro has more than 25 years of experience in research & development.
Microba Life Sciences intends to advance into the clinic with its lead IBD asset MAP315 in FY23. The company remains well funded to support revenue growth and therapeutic program advancement.
