Business
Mainz Biomed Reports Third Quarter 2023 Financial Results and Provides Corporate Update
ColoAlert® Revenue Increases 102% Year Over Year for the Nine Months Ended September 30, 2023ColoFuture Study Reported Groundbreaking Results Demonstrating
About this update from Quantum Cyber N.v.
[{"type":"text","content":"ColoAlert® Revenue Increases 102% Year Over Year for the Nine Months Ended September 30, 2023ColoFuture Study Reported Groundbreaking Results Demonstrating Sensitivity for Colorectal Cancer of 94% with Specificity of 97% and Advanced Adenoma Sensitivity of 80% BERKELEY, Calif. and MAINZ, Germany, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, announced today its financial results of the third quarter ending September 30, 2023 and provided a corporate update. Key Highlights: ColoAlert® revenues were USD 681,000, representing an increase of 102% compared to the first nine months of 2022.Reported groundbreaking clinical trial results from ColoFuture, an international study evaluating the Company’s portfolio of novel gene expression (mRNA) biomarkers for potential inclusion into pivotal FDA PMA clinical trial (ReconAAsense) for next generation colorectal cancer (CRC) screening test.Advanced eAArly DETECT feasibility study (U.S. ColoFuture clinical trial) scheduled to report results in Q4 of 2023.Expanded network of international commercial partners for ColoAlert®, a highly efficacious and easy-to-use DNA-based detection test for CRC being sold via the Company’s unique business model of marketing products via partnerships with third-party laboratories versus the traditional methodology of operating a single facility.Continued to grow corporate health program within Germany’s “BGM” system which provides health services to employees – Germany’s total BGM market represents a €1 billion per annum opportunity.Ramped-up preparations for ReconAAsense clinical study which remains on track to commence patient enrollment in mid-2024. Presents an opportunity to achieve gold-standard status for self-administered CRC screening.Presented at leading healthcare investment forums including the Cantor Fitzgerald Global Healthcare Conference, H.C. Wainwright Global Investment Conference and JonesTrading 2023 Healthcare Summit. “This past quarter was an important period of progress for the Company highlighted by ColoFuture’s spectacular readout of results. Multiple novel mRNA biomarkers were identified for potential integration into our pivotal clinical trial being designed to potentially bring to market the gold-s...