Scibase: Year-end report

News provided by

SciBase

19 Feb, 2021, 07:08 GMT

STOCKHOLM, Feb. 19, 2021 /PRNewswire/ -- January 1 - December 31, 2020

The fourth quarter in figures:

Net sales amounted to TSEK 3,055 (2,800).
The loss after tax amounted to TSEK 9,839 (10,207).
The loss per share amounted to SEK 0.20 (0.61).
The cash flow from current operations was negative in the amount of TSEK 10,290 (8,842).
The gross margin reached 49.4% (58.0%).
Electrode sales volume increased by 4% and reached 7,492 (7,180) units. Repeat sales of electrodes to existing customers increased by 6%.

The full year in figures:

Net sales amounted to TSEK 9,521 (9,276).
The loss after tax amounted to TSEK 34,989 (39,594).
The loss per share amounted to SEK 1.12 (2.38).
The cash flow from current operations was negative in the amount of TSEK 33,861 (37,956).
The gross margin reached 52.5% (54.5%).
Electrode sales volume increased by 8% and reached 25,686 (23,724) units. Repeat sales of electrodes to existing customers increased by 9%.

Important events during the quarter:

The negative impact of Covid-19 seen in the first half of the year lessened in Q3 and in Q4 sales reached a new quarterly high. Sales in the company's key market Germany increased by 15% while overall sales increased by 9%. The market situation however remains difficult to predict going forward, due to ongoing lockdowns and reduced marketing activities.
SciBase announced the outcome of the exercise of warrants of series TO1. In total 91.4% of the warrants were subscribed for at a price of SEK 1.75, raising MSEK 30 net.Nevisense Go, SciBase's next generation handheld platform, was released at the end of October. The first version of Nevisense Go will be used by researchers and industrial partners to assess skin barrier function.
SciBase was granted a Category III CPT^®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.
The first study validating the use of Nevisense in Non-melanoma skin cancer was published.
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.

Important events after the end of the period

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.
A nominating committee was appointed.

	July 1 - Sep 30		Jan 1 - Sep 30
THE GROUP	2020	2019	2020	2019
Net sales, SEK ths	3 055	2 800	9 521	9 276
Gross margin, %	49,4%	58,0%	52,5%	54,5%
Equity/Asset ratio, %	79,1%	69,4%	79,1%	69,4%
Net indebtness, multiple	0,26	0,44	0,26	0,44
Cash equivalents, SEK ths	41 427	26 456	41 427	26 456
Cashflow from operating activities, SEK ths	-10 290	-8 842	-33 861	-37 956
Earnings per share (before and after dilution), SEK	-0,20	-0,61	-1,12	-2,38
Shareholder's equity per share, SEK	0,96	1,93	1,50	1,93
Average number of shares, 000'	48 707	16 618	31 287	16 618
Number of shares at closing of period, 000'	54 780	16 618	54 780	16 618
Share price at end of period, SEK	4,62	4,36	4,62	4,36
Number of sold electrodes, pieces	7 492	7 180	25 686	23 724
Average number of employees	17	18	16	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 February 19, 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.