Mainz Biomed Sees Revenue Growth Amid Cost Reductions
Company Announcements

Mainz Biomed Sees Revenue Growth Amid Cost Reductions

Mainz Biomed B.V. (MYNZ) has released an update.

Mainz Biomed B.V. reported a 4% rise in revenue to $520,773 for the first half of 2024, driven by increased sales of its ColoAlert product in Germany. Despite achieving a higher gross profit margin of 61%, the company faced a net loss of $11 million, reflecting decreased research and marketing expenses but increased other expenses. The company’s strategic shift towards lab partner sales and reduced consumer marketing costs significantly lowered operational expenses.

For further insights into MYNZ stock, check out TipRanks’ Stock Analysis page.

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