Marinomed Biotech AG, listed on the Vienna Stock Exchange (VSE:MARI), achieved important progress in strategic growth projects and a further increase in demand for Carragelose products in 2022. According to preliminary figures, Carragelose revenues were up by 15.5% to € 11.2 m (2021: € 9.7 m). This positive development resulted in stable preliminary revenues of € 11.3 m for the full year (2021: € 11.6 m) despite the lack of milestone payments in 2022. Adjusted for the Budesolv milestone payment of € 1.9 m in 2021, revenues have increased by 16.5 %. Cash and cash equivalents increased to € 8.2 m (2021: € 5.8 m; +41%), reflecting a low cash burn-rate throughout 2022 due to profitable revenues and inflows from loans, real estate financings and the convertible bond program with Nice & Green.
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