BioPorto's Annual Report Highlights Strategic Growth for 2024

Author: Riley Hayes Updated: 03-20-2025 03:15 AM

BioPorto Unveils Key Financial Outcomes for 2024

BioPorto A/S, a pioneering in vitro diagnostics company dedicated to improving the early detection of Acute Kidney Injury (AKI), recently announced its annual financial report reflecting strong growth in 2024. The company focuses on advancing medical technologies that empower healthcare providers with actionable biomarkers.

Remarks from the CEO

Peter Mørch Eriksen, Group Chief Executive Officer of BioPorto, shared his enthusiasm regarding the company's accomplishments in the past year. He noted, "Our strategic vision has led to remarkable achievements, including a pivotal standing order from a prominent US hospital, positioning us strongly within the healthcare market. The support of our dedicated employees, partners, and investors has been invaluable as we navigate this journey towards growth and innovation."

Key Strategic Milestones in 2024

Throughout 2024, BioPorto accomplished significant milestones, including:

Enhancing the commercial framework in the US by expanding the sales team and clinical liaisons to meet increasing demand for NGAL products.
Forming a strategic partnership with Beckman Coulter, a leader in life sciences diagnostics, aimed at extending BioPorto’s commercial reach.
Securing a standing order in the US valued at over USD 200,000.
Launching the ProNephro AKI (NGAL) study focusing on adult usage, with an FDA application anticipated by the end of 2026.
Successfully completing an oversubscribed direct share issue raising USD 11.7 million.

Financial Highlights for 2024

BioPorto's financial performance for 2024 showcased:

Total revenue reached DKK 36.2 million, marking a 17% increase over 2023.
Revenues from NGAL products in the US surged by 34%, contributing significantly to the overall revenue growth.
The adjusted EBITDA loss aligned with earlier guidance, totaling DKK 70.6 million.

Outlook for 2025 and Beyond

Looking forward, BioPorto aims to achieve total revenues between DKK 45-60 million in 2025, anticipating growth propelled by increasing sales of ProNephro AKI (NGAL) in the US. However, an adjusted EBITDA loss between DKK 75-85 million is expected due to expanded marketing and clinical trial costs.

The company has high aspirations for 2026, forecasting revenue between DKK 80-125 million, with strategic partnerships and clinical milestones planned to drive this growth.

Investing in the Future

BioPorto emphasizes its commitment to enhancing health outcomes through innovative research and product development focused on unmet medical needs. The adoption of kidney damage biomarkers within the KDIGO guidelines is anticipated to further propel their initiatives in the clinical landscape.

Frequently Asked Questions

What significant achievements did BioPorto reach in 2024?

BioPorto achieved notable milestones, including expanding its US commercial team and establishing a significant partnership with Beckman Coulter.

What were the company’s financial highlights in 2024?

In 2024, BioPorto reported a total revenue of DKK 36.2 million, representing a 17% increase from the previous year.

What is BioPorto's revenue guidance for 2025?

BioPorto targets total revenues of DKK 45-60 million for 2025, with expected growth driven by increased ProNephro AKI (NGAL) sales.

What initiatives are planned for 2026?

For 2026, BioPorto aims to reach revenues of DKK 80-125 million and plans to solidify strategic partnerships for enhanced market reach.

How does BioPorto contribute to healthcare?

BioPorto focuses on developing novel diagnostics that enhance the detection of Acute Kidney Injury, ultimately improving clinical and economic outcomes for patients.

About The Author

Riley Hayes here, a financial writer and specialist committed to assisting individuals in navigating the intricate world of finance. My love is using my blog and articles to simplify complex financial ideas into understandable, doable guidance. Having worked in finance for many years, I try to give my readers the information and resources they need to make wise financial choices.

Writing for several financial blogs has let me connect with a wide range of readers, from novice investors seeking new ideas to seasoned investors. My mission is to make money interesting and approachable so you may take charge of your financial future. I appreciate you traveling with me toward success and financial literacy.

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