SciBase Interim report

STOCKHOLM, Nov. 10, 2022 /PRNewswire/ -- 

January 1 - September 30, 2022

The third quarter in figures

• Net sales amounted to TSEK 4,941 (2,982), +66%.

• The loss after tax amounted to TSEK 8,765 (8,622).

• The loss per share amounted to SEK 0.13 (0.13).

• The cash flow from current operations was negative in the amount of TSEK 9,718 (9,156).

• The gross margin reached 58,4% (63.3%).

• Electrode sales volume increased by 28% and reached 10,592 (8,304) units. Repeat sales of electrodes to existing customers increased by 34%.

January - September in figures

• Net sales amounted to TSEK 12,927 (7,802), +66%.

• The loss after tax amounted to TSEK 27,713 (27,926).

• The loss per share amounted to SEK 0.40 (0.46).

• The cash flow from current operations was negative in the amount of TSEK 29,783 (27,792).

• The gross margin reached 63.3% (57.8%).

• Electrode sales volume increased by 39% and reached 30,172 (21,768) units. Repeat sales of electrodes to existing customers increased by 45%.

Important events during the quarter

• Overall sales increased by 66% (+55%, before currency effects). The sales in the important US market increased within the area of skin cancer by 279% (in local currency by 209%). Sales in Germany increased by 58% (50% in local currency).

• FDA expert panel in line with SciBase position to keep stringent approval level for all new skin lesion analyzers in the US.

• Top line results presented that demonstrated the detrimental effects of common detergents on the health of the skin barrier in mice were presented at the World Immune Regulation Meeting (WIRM) in Davos, Switzerland. The study, which is not yet published, was performed by SIAF (CH), CK-CARE (CH), SciBase (SE) and the Sean N. Parker Allergy and Asthma research institute at Stanford (US). The study demonstrates that household laundry detergents disrupt the skin barrier integrity in mice. 

Important events after the end of the  period

• Collaboration agreement signed with Johnson & Johnson Consumer Health to develop a skin barrier screening product for infants.

• New study shows Nevisense significantly improves US clinician's pigmented skin lesion decision-making beyond dermoscopy.

• New article published at nature.com that discusses EIS as a potential clinical measure of skin barrier integrity.

• A nominating committee for the Annual General Meeting in 2023 was appointed.

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on November 10, 2022.

This report has been comprehensively reviewed by the Company's auditors.

Contact person:

Michael Colérus, CFO, +46 70 341 34 72

For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: simon.grant@scibase.com

Certified Advisor (CA):

Vator Securities
Tel: +46 8 580 065 99
Email: ca@vatorsec.se

About SciBase and Nevisense

SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com.  All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases 

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