SciBase: Interim Report

STOCKHOLM, Nov. 10, 2017 /PRNewswire/ --

January 1 – September 30, 2017

The third quarter in figures

• Net sales amounted to TSEK 1,172 (1,580).
• The loss after tax amounted to TSEK 8,810 (12,395).
• The loss per share amounted to SEK 1.06 (1.50).
• The cash flow from current operations was negative in the amount of TSEK 9,796 (10,459).
• The gross margin in the period was 56.8 (44.6)%.
• Electrode sales in volume grew in total by 9% and reached 3,440 (3,168) units. Repeat sales of electrodes grew by 42%.

The first 9 months in figures

• Net sales amounted to TSEK 4,973 (4,501).
• The loss after tax amounted to TSEK 32,168 (38,463).
• The loss per share amounted to SEK 3.88 (4.64).
• The cash flow from current operations was negative in the amount of TSEK 32,821 (34,818).
• The gross margin in the period was 36.8 (34.3)%.
• Electrode sales grew in total by 33% and reached 12,768 (9,600) units. Repeat sales of electrodes grew by 74%.

Important events during the quarter

• Following the Pre-Market Approval (PMA) of Nevisense in the US in June, SciBase presented an update of their strategic growth plan. The focus of the plan is SciBase's entry into the US market, the continued growth in the core market Germany, and the utilization of the current product platform for additional clinical indications.  
• At the British Association of Dermatologist's annual meeting in July a new study from Southampton University Hospital was presented showing Nevisense's potential to help clinicians detect melanomas that otherwise could have been missed. 
• SciBase released a new generation of Nevisense and a new type of electrode for the evaluation of new clinical applications.
• In September software to integrate Nevisense with DermoScan's digital dermoscopy system DermoGenius Ultra was launched. The cooperation with DermoScan represents a great opportunity to integrate Nevisense with the more than 400 clinics using DermoGenius Ultra in Germany today.

Important events after the end of the period

• Nevisense was presented as one of the top ten most important news stories within skin cancer for dermatologists at the Fall Clinical Dermatology Conference.
• The first Nevisense system in the US will be installed with the well-known key opinion leader Darrel S. Rigel, MD and Clinical Professor of Dermatology at the New York University Medical Center.
• The first presentation of data in a scientific poster by a US center occurred as a poster at the Fall Clinical meeting by Dr Ryan Svoboda, a Clinical Research Fellow at the National Society for Cutaneous Medicine.
• SciBase signed a distribution contract with International Fitness and Health Organisation AB to sell to non-specialist clinics and pharmacies in Italy. The agreement included an initial order of approx. MSEK 0.5 and potential for an additional MSEK 0.5 order in 2018.
• The first US commercial order for Nevisense was received from a private clinic focused on self-pay patients in New York.
• A nominating committee has been appointed.
• The Company published a proposed preferential rights offering and a summons to an EGM.

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on November 10, 2017.

The Company will hold a livepresentation of the Q3 report and a Q&A at 10 a.m. which can be followed through the following link:

https://www.redeye.se/live/scibase-q3-2017

For more information, please contact:

Simon Grant
CEO SciBase
Tel: +46-72-887-43-99
Email: simon.grant@scibase.com  

Michael Colérus
CFO SciBase
Tel: +46-70-341-34-72
Email: michael.colerus@scibase.com  

About SciBase and Nevisense

SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed a unique point-of-care device for the accurate detection of malignant melanoma. Its product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia, and now also a FDA clearance in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies. SciBase is listed on Nasdaq First North ("SCIB"). Avanza is the certified advisor. Further information is available on www.scibase.com. 

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