21st Austria weekly - Marinomed, Vienna Insurance Group (21/11/2023)

Marinomed: Marinomed Biotech AG recorded stable revenues of € 7.2 million in the first three quarters of 2023 (Q1-Q3 2022: € 7.1 million) due to the continued demand for Carragelose virus blockers. The increase in personnel costs, higher R&D expenses and lower research subsidies were reflected in the operating result of € -4.4 million (Q1-Q3 2022: € -3.8 million). The result for the period amounted to € -5.6 million, compared to € -5.8 million in the prior-year period. For the Carragelose platform, Marinomed took the necessary steps to create an all-year product portfolio and a product expansion in the therapeutic area of immunology with an allergy blocker and eye drops. The first market launches are already in preparation for 2024. Procter & Gamble also secured the rights for the Carragelose-based allergy spray in the USA. Marinomed has paved the way for further important partnerships for the product candidates Budesolv and Tacrosolv, which are based on the Marinosolv technology. In addition, licensing discussions were intensified at the trade fairs CPHI Barcelona, BIO-EUROPE Munich and the Jefferies London Healthcare Conference.
Marinomed Biotech: weekly performance: -11.79%

VIG: Vienna Insurance Group (VIG) has signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which is currently held by the Hungarian state holding company Corvinus. After the transaction is completed, VIG’s stake in the Holding will increase from 55 to 90%, Corvinus will keep a stake of 10%. The parties have agreed not to disclose the purchase price.
VIG: weekly performance: 0.38%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (21/11/2023)

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1. 21st Austria Weekly

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