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 ...

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]

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 be consistent with that of Q2 2023 [1] Strategic Initiatives - The company is focusing on increasing product sales, particularly from the new HIV screening product, TrinScreen HIV [2] - Trinity Biotech is implementing a Comprehensive Transformation Plan and advancing its continuous glucose monitor (CGM) program [2] Partnership Development - The partnership with MedScience is expected to enhance Trinity Biotech's market presence in the UK, leveraging MedScience's experienced sales organization [2] - MedScience expresses enthusiasm for the partnership, highlighting familiarity with Trinity Biotech's expertise and product range [2][7] Company Overview - Trinity Biotech specializes in 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 focus on wearable biosensor technology [6]

Louise Tallon responded, "I'm excited to join the Trinity Biotech team and look forward to contributing to its exciting vision to become a highly profitable organisation, intent on executing its development and launch of a next generation CGM device." This release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"), including but not limited to statements related to Trinity Biotech's cash position, fin ...

Commenting on the appointment, John Gillard, CEO of Trinity Biotech plc, said "We are delighted to welcome Louise, who brings extensive experience in transformation and growth within a dynamic environment. This skill set, combined with her extensive experience in the life sciences product commercialisation industry, will elevate the continued development of the organisation as we continue to deliver on our corporate strategy of delivering our comprehensive transformation plan and introducing our next genera ...

Core Insights - Trinity Biotech is advancing its next generation continuous glucose monitoring (CGM) solution towards market launch, having received regulatory approval for an initial European pre-pivotal trial [5][6] - The pre-pivotal trial is expected to begin imminently and be completed by the end of July, with data from this trial to inform a larger pivotal trial planned for 2025 [1][5] Company Overview - Trinity Biotech 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, and has recently entered the wearable biosensor industry [6] Technology and Innovation - The company has been working on innovations and improvements to its CGM technology since acquiring it earlier in the year [5] - The CGM solution and AI-driven health and wellness analytics technology are viewed as key long-term growth drivers for the company [5]

This pre-pivotal trial will begin imminently and is expected to be completed by the end of July. The study will assess the analytical performance of CGM technology enhancements implemented by Trinity Biotech. The data from this analytical performance assessment will be utilised to advance the technical optimization of the next generation CGM device ahead of the pivotal trial that is planned in 2025. Trinity Biotech President and Chief Executive Officer, Mr John Gillard stated "We believe our CGM solution an ...

About Trinity Biotech Management plans to host meetings with key stakeholders and potential partners as it works to advance the next generation of its recently acquired continuous glucose monitoring (CGM) biosensor technology. Interested parties are invited to reach out for more information by emailing Biosensors@trinitybiotech.com. To learn more about Trinity's CGM, please visit https://cgm.trinitybiotech.com LifeSci Partners, LLC Eric Ribner (1)-646-751-4363 E-mail: investorrelations@trinitybiotech.com Co ...

DUBLIN, June 10, 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, announces that its senior management team plans to attend the 84th Scientific Sessions of the American Diabetes Association in Orlando Florida, taking place on June 21-24, 2024. About Trinity Biotech LifeSci Partners, LLC Eric Ribner (1)-646-751-4363 E-mail: investorrelations@trini ...

DUBLIN, June 03, 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 announced the launch of its continuous glucose monitoring ("CGM") microsite - https://cgm.trinitybiotech.com. This website will be used to provide the Company's stakeholders with key insights into the Company's vision for the development of the next generation of its recently acquired CGM bios ...