09/14/2021 | Press release | Distributed by Public on 09/14/2021 03:12
Significant progress made during the year with two major regulatory approvals
Alkindi® growth of 18% in core markets despite continued impact of Covid-19 on hospital visits
Post-period, launch of Efmody® in Europe, Diurnal's second product on the market following Alkindi®
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces its audited results for the year ended 30 June 2021.
Operational highlights (including post-period):
Approved products:
Alkindi® (hydrocortisone granules in capsules for opening)
Efmody® (modified-release hydrocortisone)
Development products:
DITEST™ (native oral testosterone formulation)
Financial overview
Martin Whitaker, CEO of Diurnal, commented:
'Over the past year, Diurnal has continued to make significant progress in its ambition towards becoming a world-leading endocrinology company. We continued to roll-out Alkindi® across Europe and secured FDA approval for the product, which was subsequently launched in the US by our partner Eton. Another key milestone was the approval of our second product, Efmody®, in Europe. The launch is progressing well and we expect to realise synergies in the utilisation of our existing European commercial infrastructure and supply chain from Alkindi® which we anticipate to lead to the rapid uptake of Efmody® as a new treatment option available for patients suffering from CAH as the launch gains momentum.
'In our pipeline, we are excited to progress our development strategy for Efmody® in the US, as well as the clinical development of DITEST™, with an IND application expected to be filed later this year. We continue to believe that Diurnal is well positioned with sufficient cash resources to take our core commercial European cortisol deficiency franchise through to profitability and look forward to reporting on further operational and commercial progress in this current financial period.'
Martin Whitaker, Chief Executive Officer, and Richard Bungay, Chief Financial Officer, will provide a live presentation relating to the Company's financial results today via the Investor Meeting Company platform at 11:00 BST.
The online presentation is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and interested parties can register to attend the presentation via the following link: https://www.investormeetcompany.com/diurnal-group-plc/register-investor .
In the audited results for the year ended 30 June 2021:
This is a business press release containing financial information and/or data for the benefit of shareholders and potential investors. Data are included to allow informed investment decisions.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
For further information
Please visitwww.diurnal.co.uk or contact:
Diurnal Group plc |
+44 (0)20 3727 1000 |
Martin Whitaker, Chief Executive Officer Richard Bungay, Chief Financial Officer |
|
Panmure Gordon (UK) Limited (Nominated Adviser and Sole Broker) |
+44 (0)20 7886 2500 |
Corporate Finance: Freddy Crossley, Emma Earl Corporate Broking: Rupert Dearden |
|
FTI Consulting (Media and Investor Relations) |
+44 (0)20 3727 1000 |
Simon Conway Victoria Foster Mitchell Alex Davis |
Notes to Editors
About Diurnal Group plc
Diurnal Group plc is a European, UK-headquartered, specialty pharmaceutical company dedicated to developing hormone therapeutics to aid lifelong treatment for rare and chronic endocrine conditions, including congenital adrenal hyperplasia, adrenal insufficiency, hypogonadism and hypothyroidism. Its expertise and innovative research activities focus on circadian-based endocrinology to yield novel product candidates in the rare and chronic endocrine disease arena.
For further information about Diurnal, please visit www.diurnal.co.uk