SciBase: Interim report

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SciBase

12 Nov, 2020, 08:21 GMT

STOCKHOLM, Nov. 12, 2020 /PRNewswire/ -- January 1 - September 30, 2020

The third quarter in figures

Net sales amounted to TSEK 2,287 (1,940).

The loss after tax amounted to TSEK 7,350 (9,868).

The loss per share amounted to SEK 0.20 (0.59).

The cash flow from current operations was negative in the amount of TSEK 6,974 (10,264).

The gross margin reached 52.7% (53.4%).

Electrode sales volume increased by 46% and reached 6,924 (4,752) units. Repeat sales of electrodes to existing customers increased by 57%.

The first nine months in figures

Net sales amounted to TSEK 6,466 (6,476).

The loss after tax amounted to TSEK 25,150 (29,387).

The loss per share amounted to SEK 0.99 (1.77).

The cash flow from current operations was negative in the amount of TSEK 23,571 (29,114).

The gross margin reached 54.0% (53.1%).

Electrode sales volume increased by 10% and reached 18,194 (16,544) units. Repeat sales of electrodes to existing customers increased by 10%.

Important events during the quarter

The COVID-19 pandemic has affected SciBase from the end of Q1. There was a recovery in sales levels in Q3 due to good electrode sales to existing customers, but system sales remain affected. Sales in the company's key market Germany increased by 23% while overall sales increased by 18% in the quarter. It is however difficult to predict how Covid-19 will affect sales and Group activities going forward.

Nevisense was selected for `SpotCheck' remote melanoma detection evaluation study by The Ronald O. Perelman Department of Dermatology at NYU Langone Health in New York

Important events after the end of the period

SciBase announced the outcome of the exercise of warrants of series TO1. In total, 91.4% of the warrants were subscribed for to the set subscription price of SEK 1.75.

Nevisense Go, SciBase's next generation handheld device, was released at the end of October. The first version of Nevisense Go will be used to assess skin barrier function by researchers and industrial partners.

SciBase was granted a Category III CTP^®code for the Nevisense melanoma detection test in the US

Two US studies showing improved detection of melanoma by clinicians with Nevisense were published in leading US journals. The studies compared the evaluation of atypical, pigmented skin lesions using visual evaluation alone to visual evaluation plus Nevisense.

Nevisense was included in infant study at Mount Sinai Hospital in New York. Nevisense will be used to measure skin properties including barrier function and evaluate whether these measurements can help predict the development of allergies or monitor their progress.

Linn Olsen, SciBase's head of production and supply chain, has been appointed as a member of the management team.

					Oct 1 2019 -
	July 1 - Sep 30		Jan 1 - Sep 30		Sep 30 2020	Jan 1 - Dec 31
THE GROUP	2020	2019	2020	2019	Rolling-12	2019
Net sales, SEK ths	2 287	1 940	6 466	6 476	9 266	9 276
Gross margin, %	52,7%	53,4%	54,0%	53,1%	55,2%	54,5%
Equity/Asset ratio, %	67,0%	73,4%	67,0%	73,4%	70,8%	69,4%
Net indebtness, multiple	0,49	0,36	0,49	0,36	0,41	0,44
Cash equivalents, SEK ths	21 724	35 917	21 724	35 917	21 724	26 456
Cashflow from operating activities, SEK ths	-6 974	-10 264	-23 571	-29 114	-32 413	-37 956
Earnings per share (before and after dilution), SEK	-0,20	-0,59	-0,99	-1,77	-1,93	-2,38
Shareholder's equity per share, SEK	0,71	2,53	1,02	2,53	1,46	1,93
Average number of shares, 000'	36 560	16 618	25 481	16 618	23 265	16 618
Number of shares at closing of period, 000'	36 560	16 618	36 560	16 618	36 560	16 618
Share price at end of period, SEK	4,00	5,25	4,00	5,25	4,00	4,36
Number of sold electrodes, pieces	6 924	4 752	18 194	16 544	25 374	23 724
Average number of employees	16	18	16	18	17	18

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 12, 2020.

Contact person: Michael Colérus, CFO. +46 70 341 34 72

For more information, please contact:

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

Certified Advisor:

Avanza AB
Phone: +46 8 409 421 20
Email: ca@avanza.se

About SciBase and Nevisense

SciBase AB is a global medical technology company based in Stockholm, Sweden that develops unique point-of-care devices for the evaluation of skin disorders such as skin cancer and atopic dermatitis. SciBase's first product, Nevisense, helps clinicians detect melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and non-melanoma skin cancer. 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 an FDA approval (PMA) in the United States. SciBase technology is based Electrical Impedance Spectroscopy (EIS) combined with Artificial Intelligence (AI) algorithms that interpret the varying electrical properties of human tissue to detect malignancies and abnormalities. SciBase Holding AB is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.