SciBase: Interim Report

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SciBase

13 Nov, 2019, 07:22 GMT

STOCKHOLM, Nov. 13, 2019 /PRNewswire/ -- January 1 - September 30, 2019

The third quarter in figures

Net sales amounted to TSEK 1,940 (1,359).
The loss after tax amounted to TSEK 9,868 (12,754).
The loss per share amounted to SEK 0.59 (0.77).
The cash flow from current operations was negative in the amount of TSEK 10,264 (7,692).
The gross margin reached 53.4% (52.6%).
Electrode sales volume increased by 54% and reached 4,752 (3,088) units. Repeat sales of electrodes to existing customers increased by 63%.

The first 9-months in figures

Net sales amounted to TSEK 6,476 (4,869).
The loss after tax amounted to TSEK 29,387 (32,709).
The loss per share amounted to SEK 1,77 (1.97).
The cash flow from current operations was negative in the amount of TSEK 29,114 (27,492).
The gross margin increased to 53.1% (51.9%).
Electrode sales volume increased by 43% and reached 16,544 (11,606) units. Repeat sales of electrodes to existing customers increased by 53%.

Important events during the quarter

Sales in the company's key market Germany continue to grow and increased by 36% in the quarter following a further improvement in electrode sales. Total sales increased by 43%
In the period the first sale and shipment of SciBase products for the evaluation of skin barrier function was made. The first shipment is to a prestigious hospital in Japan for research into skin barrier function in infants.
New Nevisense software was released in the EU that included wireless integration with the Heine digital dermoscopy system, skin barrier analysis tools and further ease-of-use improvements.

Important events after the end of the period

SciBase receives the first multi system order from a large US dermatology practice group. Advanced Dermatology, P.C. is a group of over 40 dermatology practices in the New York tri-state area.
SciBase receives order from the dermatology clinic at the Mount Sinai hospital in New York.
A nominating committee has been appointed.

Oct 1 2018 -

July 1 - Sep 30

Jan 1 - Sep 30

Sep 30 2019

Jan 1 - Dec 31

THE GROUP

2019

2018

2019

2018

Rolling-12

2018

Net sales, SEK ths

1 940

1 359

6 476

4 869

8 506

6 899

Gross margin, %

53,4%

52,6%

53,1%

51,9%

52,8%

52,0%

Equity/Asset ratio, %

73,4%

89,2%

73,4%

89,2%

83,2%

88,1%

Net indebtness, multiple

0,36

0,12

0,36

0,12

0,20

0,13

Cash equivalents, SEK ths

35 917

77 551

35 917

77 551

35 917

67 514

Cashflow from operating activities, SEK ths

-10 264

-7 692

-29 114

-27 492

-39 104

-37 482

Earnings per share (before and after dilution), SEK

-0,59

-0,77

-1,77

-1,97

-2,46

-2,66

Shareholder's equity per share, SEK

2,53

4,97

2,53

4,97

3,75

4,30

Average number of shares, 000'

16 618

Number of shares at closing of period, 000'

16 618

Share price at end of period, SEK

5,25

4,52

5,25

4,52

5,25

3,10

Number of sold electrodes, pieces

4 752

3 088

16 544

11 606

20 416

15 478

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 November 13, 2019.

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: corp@avanza.se

About SciBase and Nevisense

SciBase AB is a Swedish medical technology company and a global leader in breakthrough point-of-care technology for the evaluation of skin disorders such as skin cancer and atopic dermatitis. Their flagship product Nevisense assists physicians in the detection of melanoma at its earliest, most curable stage. Melanoma is the deadliest form of skin cancer and has an almost 100% cure rate if caught early. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation in research. 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 is FDA Approved 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 and abnormalities. SciBase is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.