You are here


Results Q4 and preliminary results 2005

21 Feb 2006: Bergen, 20 February 2006: NorDiag ASA (NORD) delivered a revenue growth of 143 percent for 2005 compared to 2004. In terms of volume, sales of the company`s product Genefec(TM) increased by 89% compared to 2004.

NorDiag ASA reports revenues of NOK 1,8 million in the fourth quarter of 2005, compared to NOK 0,8 million in the same period last year. For 2005, the company`s revenues totalled over NOK 5,7 million, against NOK 2,4 million in 2004.

A key achievement in the fourth quarter was the launch of Genefec(TM) in Sweden on 19 December. In January 2006, the company was informed that the product would be reimbursed in the Stockholm region.

Also in the fourth quarter, NorDiag delivered on a paid contract assignment where human DNA was extracted from over 4,700 faecal samples. The 96% success rate in this assignment underlines NorDiag`s leading role in this competence area.

A further key event in the fourth quarter was the listing on the Oslo Stock Exchange on 14 December following a successful share emission raising NOK 75 million. The proceeds from the share emission will mainly be used to finance further international expansion, for product development, and to strengthen the company`s laboratory to handle increasing volumes of sold analyses. Efforts directed to these areas were commenced in the fourth quarter and have influenced the company`s fourth quarter results.

The company`s operational profit for the fourth quarter was NOK -6,4 million compared to NOK -0,9 million last year. Operational profit for the year was NOK -13,2 million, compared to NOK -4,5 million in 2004. For the quarter and year, respectively, NOK 1,6 million and NOK 2,5 million in costs related to the stock exchange listing was charged to the Income Statement.

The company`s net results were NOK -6,4 million for the fourth quarter and NOK -14 million for the year, against NOK -1,2 million and NOK-5,3 million for the same periods in 2004, respectively.

For more information, contact:

Christian Horn, Chief Executive Officer, NorDiag ASA, +47 90163153

About NorDiag ASA

NorDiag is a biotechnology company aiming to reduce mortality and treatment costs through detection of common cancers at the early, curable phases of cancer development. Early cancer detection brings the dual benefits of better patient outcomes and reduced healthcare costs. Currently NorDiag focuses on colorectal cancer through their product Genefec(TM), a DNA based test available as a clinical diagnostic test in Norway and Sweden. NorDiag has substantial know how in the field of genetics and the extraction of human DNA from faeces. The Company`s operations are subject to patent protection, both through its own applications and through in-licensed rights to applicable patents. NorDiag has its offices in Bergen, Norway, and London, UK. For more information, please consult the Company`s web pages at

Find the attachments here

Read the notice in Norwegian here