SciBase - Interim report

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SciBase

12 May, 2021, 06:17 GMT

STOCKHOLM, May 12, 2021 /PRNewswire/ --

January 1 – March 31, 2021

The first quarter in figures

Net sales amounted to TSEK 2,562 (2,469).
The loss after tax amounted to TSEK 8,153 (8,936).
The loss per share amounted to SEK 0.15 (0.54).
The cash flow from current operations was negative in the amount of TSEK 9,473 (7,893).
The gross margin reached 52.7% (54.0%).
Electrode sales volume increased by 14% and reached 7,496 (6,562) units, a new quarterly high. Repeat sales of electrodes to existing customers increased by 18%.

Important events during the quarter

Covid-19 continues to affect sales and the market situation remains difficult to predict going forward, due to ongoing lockdowns and reduced marketing activities. Sales in the company's key market Germany increased by 3%(cleared for currency effects +9%) while overall sales increased by 3% (cleared for currency effects +9%).
A further German study evaluating the value of using Nevisense on suspected Non-melanoma skin cancer (NMSC, also known as Keratinocyte cancer) in normal clinical practice was published.
David Melin, SciBase's head of product development, has chosen to leave his position and accept a role at another company. The Company is now looking for the right profile to take the product/technology platform forward.
A nominating committee was appointed.

Important events after the end of the period

SciBase submitted the first US reimbursement application to CMS's Medicare Contractor in Florida, First Coast Service Options (FCSO). The application for Medicare coverage in Florida marks an important step in the reimbursement process for SciBase and is a necessary step towards broader penetration and usage of the Nevisense test.
SciBase received certification under the new Medical Device Regulation (MDR).
The new Non-Melanoma Skin Cancer (NMSC) clinical application was launched following the completion of the MDR certification process.
A groundbreaking article by key SciBase collaborator Professor Cezmi Akdis presenting the "epithelial barrier hypothesis" was published in Nature Reviews Immunology. The article presented the background for the steep increase in allergic and other diseases over the last decades, and how this increase is connected to degradation in barrier function in the body.
A new clinical study from the Swiss Institute of Allergy and Asthma Research (SIAF) was published in the European Journal of Allergy and Clinical Immunology (Allergy). In the study Nevisense was used to assess the skin barrier of patients with atopic dermatitis (AD) and could accurately detect signs of barrier degradation in atopic patients, even in visually unaffected skin. Nevisense measurements also correlated with relevant biomarkers for atopic dermatitis.
The notice to attend the AGM 2021 was published as well as the nominating committees supplementary proposal to nominate Dr Matt Leavitt for the Board of Directors.
The annual report 2020 was published on April 9^th.

Apr 1 2020 -

Jan 1 - Mar 31

Mar 31 2021

Jan 1 - Dec 31

THE GROUP

2021

2020

Rolling-12

2020

Net sales, SEK ths

2 562

2 496

9 588

9 521

Gross margin, %

52,7%

54,0%

52,2%

52,5%

Equity/Asset ratio, %

79,6%

64,8%

73,3%

79,1%

Net indebtness, multiple

0,26

0,54

0,36

0,26

Cash equivalents, SEK ths

31 403

17 970

31 403

41 427

Cashflow from operating activities, SEK ths

-9 473

-7 893

-35 441

-33 861

Earnings per share (before and after dilution), SEK

-0,15

-0,38

-0,84

-1,12

Shareholder's equity per share, SEK

0,70

1,40

0,76

1,50

Average number of shares, 000'

54 780

16 618

40 828

31 287

Number of shares at closing of period, 000'

54 780

16 618

54 780

Share price at end of period, SEK

4,78

1,84

4,78

4,62

Number of sold electrodes, pieces

7 496

6 598

26 584

25 686

Average number of employees

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 May 12, 2021.

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.