Trinity Biotech Provides Preliminary Second Quarter 2024 Update and Enters into UK Distribution Agreement with MedScience
DUBLIN, Ireland (August 2, 2024) -Trinity Biotech plc (Nasdaq: TRIB) a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announces preliminary second quarter 2024 revenues which are expected to fall in the $15.5-$16.0 million range, demonstrating significant growth, versus $13.9 million in total revenues reported for the second quarter of 2023. Gross margin percentage is expected to be broadly in line with that reported for the second quarter of 2023. Additionally, Trinity also announces entry into a distribution agreement in the United Kingdom (UK) with MedScience, an established distributor that is a subsidiary of the privately held Pharmed Group, a leading healthcare services provider across UK and Ireland. The distribution agreement encompasses Trinity Biotech’s clinical chemistry, infectious disease, and autoimmune products in the UK and is effective as of August 1, 2024.