BioMaxima announces PLN 100 million diagnostics contract ahead of WSE debut

The biotechnology company announced a contract for the supply of tests for SARS-Cov-2 diagnostics worth nearly PLN 100 million.

According to the company’s announcement, a party to the contract is to be an entity from the public finance sector. They include, among others government administration bodies, local government units, agencies or, for example, the National Health Fund.

The information about the contract for the amount of PLN 94.8 million boosted its share price by 28%.

Deliveries are to be made this week in several tranches. The company estimates that the contract will have a “very significant” impact on revenues and results in the first half of 2022, the announcement states.

According to the preliminary sales data published on January 4, sales revenues in 2021 amounted to PLN 78.5 million. and were higher by 130.64 percent compared to 2020.

On December 31, the Polish Financial Supervision Authority announced the approval of Biomaxima’s prospectus regarding the transition to the WSE main market. Thus, in January, the company’s debut on the main trading floor is possible, according to the company’s statement.

“We will immediately submit an application to the WSE management board to transfer the listing of BioMaxima shares to the main market of the WSE and we expect a debut on the main trading floor in January” – said Łukasz Urban, president of BioMaxima.

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