Marinomed Biotech AG announces results for the first quarter of 2025

Marinomed Biotech AG announces results for the first quarter of 2025

• Revenues for the first quarter of 2025 increased to EUR 6.5 million compared to EUR 0.7 million in Q1 2024 -steep increase of operating result to EUR 22.2 million compared to EUR -1.9 million Q1 2024
• Cash and cash equivalents increased to EUR 4.5 million compared to EUR 1.7 million in Q1 2024
• Investigations concerning the cyber fraud are ongoing; Despite the case the company is within its plans concerning liquidity

Korneuburg, Austria, May 8, 2025 - Marinomed Biotech AG (VSE:MARI) announces revenues of EUR 6.5 million recorded in the first quarter of 2025 primarily due to the first payment of EUR 5.0 million for the sale of the Carragelose business unit to Unither Pharmaceuticals. Also, the operating result was strongly positive with EUR 22.2 million in Q1. These numbers include a restructuring gain of EUR 18.9 million. The cash and cash equivalents increased to EUR million 4.5 compared to EUR 1.7 million in Q1 2024 despite the cyber fraud case. The payment of the first quota to Marinomed´s creditors are reflected, excluding a EUR 1,18 million quota payment to the EIB, which was served in April.

“In the first quarter of 2025, the positive outcome of the restructuring procedure resulted in a highly positive result. Marinomed has completed the sale of the Carragelose business and secured the first payment in the size of EUR million 5.0. After the successful restructuring and divestment of the Carragelose business we focus on maximizing the earnout from the sale of the business and the commercialization of our assets derived from the Marinosolv platform”, Andreas Grassauer, CEO of Marinomed, mentions. “, the recent launch of the Carragelose eyedrops in Austria is supportive for the plans of receiving the planned earnouts for the Carragelose business in time. Carragelose eyedrops are currently featured at ARVO 2025, the Annual Meeting of the Association for Research in Vision and Ophthalmology in Salt Lake City, Utah USA.”

“The positive result, the improved cash position and the restructured balance sheet reflect the transformation of Marinomed after the restructuring. Despite the obstacles from the cyberfraud case the company is within its plans concerning liquidity.”, Gabriele Ram, CFO of Marinomed, adds. “We are continuing the fruitful work with Unither not only for a successful business transition, but also for the growth of the business. Therefore, we are confident that the earnout payments of up to EUR million 15 can be realized in the planned time. Beyond that we are working hard on our goals of commercializing the key assets of the Marinosolv platform and the growths of our Solv4U business.” 

Selected financial figures for Q1 2025

About Marinomed Biotech AG

Marinomed Biotech AG is an Austrian, science-based biotech company with a growing development pipeline. The Company develops innovative patent-protected products based on the Marinosolv® platform. The Marinosolv® technology improves the solubility and bioavailability of hardly soluble compounds and is used to develop new therapeutics for autoreactive immune disorders. The Company is headquartered in Korneuburg, Austria, and is listed on the Vienna Stock Exchange (VSE:MARI). For further information, please visit: https://www.marinomed.com.

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Disclaimer

This press release contains forward-looking statements, which are based on current views, expectations and projections of the management of Marinomed Biotech AG about future events. These forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results, performance or events to differ materially from those described in, or expressed or implied by, such statements. The current views, expectations and projections of the management of Marinomed Biotech AG may be identified by the context of such statements or words such as “anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project” and “target”. Forward-looking statements are only valid as of the date they are made and Marinomed Biotech AG does not assume any obligation to update, review or revise any forward-looking statements contained in this press release whether as a result of new information, future developments or otherwise.