Welcome to our dedicated page for Trinity Biotech plc news (Ticker: TRIB), a resource for investors and traders seeking the latest updates and insights on Trinity Biotech plc stock.
Trinity Biotech plc (NASDAQ: TRIB) is an international leader in the diagnostics industry, focusing on the development, manufacturing, and marketing of clinical diagnostic products for both clinical laboratories and point-of-care settings. Headquartered in Ireland, Trinity Biotech has been at the forefront of the industry since its formation in 1992, employing over 350 people and offering more than 400 products to customers in 80 countries.
Through a blend of organic growth and strategic acquisitions, Trinity Biotech has built a comprehensive portfolio of diagnostic products. These include test kits for the detection of infectious diseases, sexually transmitted diseases, autoimmune and hemoglobin disorders, and tools for diabetes monitoring and control. The company also supplies raw materials to the life sciences industry, expanding its influence and reach within the global market.
Trinity Biotech's product lineup features well-known brands such as Recombigen, Unigold, MarBlot, Mardx, and Immublot. The company's operations are geographically segmented into the Americas and the rest of the world, with a significant portion of its revenue derived from the Americas.
Recent developments have seen Trinity Biotech making significant strides in the diabetes management sector. The company recently acquired biosensor technology from Waveform Technologies Inc., marking its entry into the wearable biosensor market. This new venture aims to develop a range of biosensor devices, starting with a continuous glucose monitoring (CGM) product. To lead this initiative, Trinity Biotech appointed Avinash Kale as the Continuous Glucose Monitor Programme Director. Mr. Kale brings extensive experience in MedTech R&D and will play a pivotal role in advancing the company's CGM technology.
The company's commitment to innovation and excellence is evident in its ongoing projects and partnerships. Trinity Biotech continues to expand its product offerings and improve existing technologies to meet the needs of healthcare providers and patients worldwide. The company's dedication to quality and sustainability ensures that its diagnostic solutions remain at the cutting edge of the industry.
Trinity Biotech's financial performance for the fiscal year 2023 has been robust, with the company reporting significant growth and key business updates. The company's strategic focus on diabetes management solutions and human diagnostics positions it well for future success and shareholder value creation. For more details, visit Trinity Biotech's website.
Trinity Biotech (Nasdaq: TRIB) announced the appointment of Louise Tallon as its new Chief Financial Officer (CFO), effective August 2024. Tallon, who is currently Head of Group Finance at Inizio and has over 19 years of experience in the life sciences industry, will succeed Des Fitzgerald, the interim CFO since December 2023. CEO John Gillard expressed confidence in Tallon's ability to drive the company’s transformation and growth, particularly in the launch of their next-generation continuous glucose monitor (CGM). The company reiterated its financial guidance, aiming for $20 million in annualized EBITDASO1 on $75 million in annualized revenues by Q2 2025. Additionally, Ms. Tallon will take over the responsibilities of the departing Chief Accounting Officer, Simon Dunne.
Trinity Biotech (Nasdaq: TRIB) has received regulatory approval to begin its European pre-pivotal trial for its next-generation continuous glucose monitoring (CGM) system. The trial aims to optimize device performance ahead of a pivotal trial scheduled for 2025. The pre-pivotal trial, set to start imminently and expected to conclude by the end of July, will evaluate the analytical performance of the CGM technology enhancements made by Trinity Biotech following its acquisition earlier this year. The collected data will be used to refine the device further. John Gillard, President and CEO, emphasized the importance of the CGM solution and AI-driven analytics as long-term growth drivers for the company.
Trinity Biotech (Nasdaq: TRIB), a commercial-stage biotechnology firm specializing in diabetes management solutions and diagnostics, announces its senior management will attend the 84th Scientific Sessions of the American Diabetes Association. The event is scheduled for June 21-24, 2024, in Orlando, Florida. Trinity Biotech aims to advance its continuous glucose monitoring (CGM) biosensor technology and plans to host meetings with key stakeholders and potential partners. Interested parties can contact Biosensors@trinitybiotech.com for more information.
Trinity Biotech (Nasdaq: TRIB) announced the launch of its continuous glucose monitoring (CGM) microsite, https://cgm.trinitybiotech.com. The site aims to provide key stakeholders with insights into the company's vision for its recently acquired CGM biosensor technology and AI-driven health and wellness analytics platform. The CEO, John Gillard, emphasized the focus on usability, affordability, and sustainability to enhance global accessibility for diabetes management. The microsite will also offer updates on the international commercialization efforts and encourage stakeholders to sign up for newsletters and email alerts.
Trinity Biotech (Nasdaq: TRIB) reported its Q1 2024 financial results with several key highlights. The company posted total revenues of $14.7 million, a 0.8% decrease from Q1 2023. Point-of-Care (PoC) revenues surged by 39% quarter-on-quarter, driven by increased TrinScreen HIV sales, which contributed $1.2 million in Q1 2024. However, overall revenue from PoC products saw a decline of 17.2% compared to Q1 2023.
Net loss improved to $3.3 million from $5.5 million in Q4 2023. The company continues to expect annualized run-rate EBITDASO of $20 million on revenues of $75 million by Q2 2025. Operating efficiencies led to a 3.6 percentage point increase in gross margin, with further improvements anticipated. However, Trinity Biotech received a Nasdaq delisting notice due to not meeting the minimum market value requirement.
Trinity Biotech (Nasdaq: TRIB), a company specializing in diabetes management solutions and human diagnostics, will release its Q1 2024 financial results on May 23, 2024, at 8:30 AM ET. The conference call will be accessible via dial-in and webcast, with specific numbers provided for the US and international participants. The webcast can be accessed through a given link.
Trinity Biotech (Nasdaq: TRIB) announced a strategic collaboration with PulseAI to enhance Trinity's continuous glucose monitor (CGM) technology. The collaboration will see PulseAI utilizing Trinity's extensive multi-parameter CGM datasets to develop an AI-driven health and wellness analytics platform. This platform aims to improve diabetes management by offering a needle-free, reusable CGM solution. The project leverages PulseAI's expertise in medical AI and large-scale dataset training, promising enhanced metabolic insights and user satisfaction. Key figures emphasized include Dr. Gary Keating, Trinity's CTO, and Alan Kennedy, PulseAI's CEO.
Trinity Biotech plc announced increased orders for TrinScreen HIV, with total orders for 2024 reaching $6 million. The company ramped up production to meet demand, leading to an increase in expected 2024 sales revenue to over $8 million.
Trinity Biotech plc has appointed Avinash Kale as the Continuous Glucose Monitor Programme Director to advance their CGM technology, focusing on developing innovative solutions for diabetes management. Avinash Kale brings extensive experience in the MedTech industry and will lead the effort to introduce intelligent wearable biosensors to the global market, aiming to improve the quality of life for millions of diabetes patients.
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