Adimmune strives to turn losses into profit this year, as profit margins turn from negative to positive

Adimmune Biotech Corporation(4142) announced today that revenue of March 2020 came in at 5.17 million NTD, cumulative revenue this year was 367 million NTD, a 509% increase compared to last year Q1’s revenue of 60 million NTD.

Currently, Adimmune’s first filling line adjustment and second sterile filling line construction have come to an end, original production capacity is expected to recover by Q2 this year after our yearly repairs, next we will start to complete this year's production schedule and will be able to meet the traditional peak season of vaccine production with utmost efficiency.

As a member of the national team against epidemics, after the production line adjustments and yearly repairs are completed, Adimmune will invest a considerable quantity of resources and manpower into the research of a COVID-19 vaccine, vaccine candidates selection are about to enter animal clinical trials, and the research team hopes to work with other top research teams around to the globe to produce a COVID-19 vaccine as soon as possible to protect the people of Taiwan.

A few days ago, Adimmune announced 2019’s annual financial report cumulative revenue was approximately 1.3 billion NTD, operation gross profit was 167 million NTD, gross profit compared to the year before(2018) increased by 12.89%, due to the inventory losses at the end of last year and 2019 Q4’s  quadrivalent vaccines 357 million NTD order being deferred to Q1 2020, last year’s financial situation still came in at a loss, EPS -0.90 dollars.

Analysis shows that this year(2020), Adimmune is still bottlenecked by production capacity(second sterile filling line is expected to start commercial operation by Q3 2021), but orders have increased compared to the year before, and basic revenue has stayed around the same. The newly shipped products this year, as well as the new Thai influenza market is expected to create new momentum for revenue this year, under the growth of both revenue and gross profit margin, Adimmune will have the opportunity to reverse the financial loss situation that began since 2011.