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Trinity Biotech's Stock Rises After Acquisition of Metabolomics
ZACKS· 2024-09-25 15:45
Trinity Biotech plc (TRIB) has announced the acquisition of privately held Irish deep-tech company Metabolomics Diagnostics. The acquired company specializes in the development of novel biomarker-based diagnostic solutions for complex diseases and is likely to improve diagnostic accuracy using mass spectrometry and machine learning for Trinity Biotech. Trinity Biotech's deal values Metabolomics Diagnostics at approximately $1.3 million. Trinity Biotech will pay the amount with just over 270,000 Trinity Biot ...
Trinity Biotech Announces Acquisition of Metabolomics Diagnostics to Grow Presence in Maternal Health Market
GlobeNewswire News Room· 2024-09-24 20:05
-Metabolomics Diagnostics, a deep-tech machine learning diagnostic platform developer, has developed an innovative test, PrePsia, to accurately predict the risk of preeclampsia in pregnant women- -The PrePsia test can predict preeclampsia risk as early as in the 12th week of pregnancy, allowing for early interventions to prevent serious health issues for mothers and their babies- -PrepSia will be commercialized in the U.S. market in 2025 through Trinity Biotech's New York-based Immco reference laboratory- D ...
Will Trinity Biotech Stock Gain From Its Latest Patent Process?
ZACKS· 2024-09-10 14:10
Company Developments - Trinity Biotech has made significant advancements in its glucose biosensor technology, recently obtaining a European patent for a novel method that enhances sensor performance [1] - The patented process aims to stabilize and improve the functionality of the glucose biosensor in the company's next-generation continuous glucose monitor (CGM) technology [2] - The patented conditioning process significantly reduces the "run-in" time of CGM devices, enabling reliable glucose measurements more quickly [5] - Improvements in the accuracy of the CGM device have been demonstrated, with notable enhancements compared to laboratory reference methods for blood glucose testing [6] - The technology represents a major advancement for Trinity Biotech's CGM platform, which was acquired in January and features a self-inserted biosensor wire [7] Market Context - The global CGM device market was valued at $5.89 billion in 2022 and is projected to reach $12.51 billion by 2030, with a compound annual growth rate (CAGR) of 9.9% [9] - The growth of the CGM market is driven by increasing diabetes awareness and the rising prevalence of diabetes, particularly due to the growing number of overweight and obese individuals globally [10] Strategic Collaborations - In May, Trinity Biotech entered a strategic collaboration with PulseAI to enhance its CGM biosensor technology, allowing PulseAI access to the company's unique multiparameter CGM database [11] Stock Performance - Year to date, shares of Trinity Biotech (TRIB) have decreased by 17.4%, while the industry has seen an 8.5% growth [12]
Trinity Biotech Provides an Update on the Continued Development of Its Continuous Glucose Monitor Technology
GlobeNewswire News Room· 2024-09-09 20:05
Company Overview - Trinity Biotech plc is a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors [6] - The company develops, acquires, manufactures, and markets diagnostic systems for point-of-care and clinical laboratory segments [6] - Recently, Trinity Biotech entered the wearable biosensor industry through the acquisition of biosensor assets from Waveform Technologies Inc. [6] Technology Development - Trinity Biotech has developed a glucose biosensor technology and was granted a European patent (EP3703565) for a novel method that enhances the performance of indwelling sensors [1][3] - The patented process significantly reduces the "run-in" or "settling" period for continuous glucose monitors (CGMs), enabling reliable glucose measurements more quickly [3] - The conditioning process has shown improvements in the accuracy of the device compared to laboratory reference methods, enhancing the Mean Absolute Relative Difference (MARD) [3] Product Advancements - The Chief Technology Officer, Dr. Gary Keating, highlighted that the patented technology represents a major advancement for the CGM platform, aiming for a more user-friendly, fully self-calibrating device [4] - The CGM technology acquired in January is noted for its affordability and sustainability due to its unique self-inserted biosensor wire [4] - Upcoming pre-pivotal trials will further evaluate the effectiveness of the conditioning process and other refinements to the biosensor wire design [4] Market Context - Continuous glucose monitors (CGMs) are increasingly popular in diabetes management and health monitoring, utilizing biosensor wires under the skin to measure glucose in real-time [2] - The advancements in CGM technology are expected to enhance market acceptance and penetration of Trinity Biotech's products [5]
Trinity Biotech Announces Increased Orders for TrinScreen HIV and Raises Guidance For 2024 Sales
GlobeNewswire News Room· 2024-08-26 20:05
DUBLIN, Ireland, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB), a commercialstage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announced that it has received substantial additional orders for TrinScreen HIV. As a result of this strong demand and the successful scaling of production capacity, the Company is now increasing its expected 2024 sales revenue for TrinScreen HIV to approximately $10 million, up from ...
Trinity Biotech Appoints Diabetes Care Veteran as Biosensor Marketing Director
GlobeNewswire News Room· 2024-08-20 21:00
DUBLIN, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB), a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announces the appointment of David Ouston as Biosensor Marketing Director. Mr. Ouston brings a wealth of commercial experience driving the growth of glucose monitoring devices at large, established companies across global markets. John Gillard, President and Chief Executive Officer of Trinit ...
Trinity Biotech Announces Q2 2024 Financial Results
GlobeNewswire News Room· 2024-08-14 11:30
-Q2, 2024 total revenues of $15.8 million grew +14% Y/Y and +7.7% Q/Q based on strong demand and output in the TrinScreen HIV business- -Point-of-Care product revenue of $4.6 million grew 119% Y/Y and +53% Q/Q- -Reiterating guidance to achieve approximately $20 million of annualized run-rate EBITDASO1 on annualized runrate revenues of approximately $75 million by Q2, 2025- DUBLIN, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB), a commercial stage biotechnology company focused on human ...
Trinity Biotech to Announce Q2 2024 Financial Results
GlobeNewswire News Room· 2024-08-13 20:05
DUBLIN, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB) (the "Company"), a commercial stage biotechnology company focused on diabetes management solutions and human diagnostics, including wearable biosensors, will report financial results for the second quarter 2024 on Wednesday, August 14, 2024 at 8:30 AM ET. | --- | --- | |----------------|----------------------------------------------------------------------------| | Date: | Conference Call Dial-In & Webcast Information \nWednesday, ...
Trinity Biotech Obtains an Extension to Demonstrate Compliance With Nasdaq Listing Requirements
Newsfilter· 2024-08-06 20:05
DUBLIN, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB), a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, obtained an extension to demonstrate compliance with a continued listing requirement of The Nasdaq Global Select Market. As previously reported in a Current Report on Form 6-K filed November 29, 2023, the Company received a deficiency letter from the Listing Qualifications Department of The Nasdaq ...
Trinity Biotech Provides Preliminary Second Quarter 2024 Update and Enters into UK Distribution Agreement with MedScience
Newsfilter· 2024-08-02 13:24
Core Insights - Trinity Biotech plc anticipates second quarter 2024 revenues between $15.5 million and $16.0 million, indicating a year-over-year growth from $13.9 million in the same quarter of 2023 [1] - The company reaffirms its financial guidance, targeting approximately $20 million in annualized run-rate EBITDASO on revenues of about $75 million by Q2 2025 [1][2] - A distribution agreement has been established with MedScience in the UK, effective August 1, 2024, covering clinical chemistry, infectious disease, and autoimmune products [1][2] Financial Performance - Expected revenues for Q2 2024 are projected to show double-digit percentage growth compared to the previous year [1] - Gross margin percentage is anticipated to remain consistent with the second quarter of 2023 [1] Strategic Initiatives - The revenue growth is attributed to initiatives aimed at increasing sales from the new HIV screening product, TrinScreen HIV [2] - The partnership with MedScience is expected to enhance Trinity Biotech's market presence in the UK, leveraging MedScience's experienced sales organization [2] Company Overview - Trinity Biotech is focused on human diagnostics and diabetes management solutions, including wearable biosensors [6] - The company develops and markets diagnostic systems for point-of-care and clinical laboratory segments, with a recent entry into the wearable biosensor industry [6]