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BRIEF-Cellmid Updates Market On COVID-19 Impact

Published 27/03/2020, 08:09 pm
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March 27 (Reuters) - Cellmid Ltd CDY.AX :

* PRUDENT TO WITHDRAW PREVIOUS GUIDANCE THAT IT WILL ACHIEVE OPERATIONAL PROFITABILITY FOR ITS CONSUMER BUSINESS BY END OF FY2020

* JAPANESE BUSINESS EXPECTED TO DELIVER ON BUDGET FOR SECOND HALF OF 2020 FINANCIAL YEAR

* DELIVERY OF CHINESE EXPORT ORDER NOW EXPECTED TO OCCUR IN TWO SPERATE SHIPMENTS IN APRIL AND MAY 2020

* OPERATIONAL EXPENDITURE OF CO REDUCED WHERE SENSIBLE

* RECENTLY SECURED SUPPLY OF WONDFO COVID-19 RAPID DIAGNOSTIC TEST IN AUSTRALIA

* CELLMID-AUSTRALIA PRODUCT LAUNCH PLANNED FOR MARCH IN PRICELINE HAS BEEN DELAYED, WILL START EFFECTING SALES FROM APRIL ONWARDS LOCALLY

* WILL SEPARATE LYRAMID INTO WHOLLY INDEPENDENT ENTITY BACKED BY INDEPENDENT FUNDING AND/OR PARTNERSHIP WITH BIOPHARMACEUTICAL CO BY 2020 END

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