SciBase - Year-end report

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SciBase

20 Feb, 2019, 07:17 GMT

STOCKHOLM, Feb. 20, 2019 /PRNewswire/ --

January 1 – December 31, 2018

The fourth quarter in figures

Net sales amounted to TSEK 2,030 (1,886).

The loss after tax amounted to TSEK 11,506 (10,295).

The loss per share amounted to SEK 0.69 (1.13).

The cash flow from current operations was negative in the amount of TSEK 9,990 (11,358).

The gross margin increased to 52.1% (31,5%).

Electrode sales in volume decreased by 2% and reached 3,872 (3,936) units. Repeat sales of electrodes to existing customers increased by 6%.

The full year in figures

Net sales amounted to TSEK 6,899 (6,859).

The loss after tax amounted to TSEK 44,215 (42,464).

The loss per share amounted to SEK 2.66 (5.00).

The cash flow from current operations was negative in the amount of TSEK 37,482 (44,180).

The gross margin increased to 52.0% (35.4%).

Electrode sales in volume decreased by 7% and reached 15,478 (16,704) units. Repeat sales of electrodes were at the same level as 2017.

Important events during the quarter

Sales on the company's key market Germany increased by 41% in the quarter driven by system sales to new customers.
A new German clinical guideline supported by Onkoderm was published. The guidelines support the use of Nevisense in the evaluation of lesions with suspicion of melanoma and also include a recommendation for reimbursement.
SciBase and the Swiss Institute of Allergy and Asthma Research, Davos Switzerland (SIAF-SFI) announced the signing of a formal collaboration agreement within the area of barrier function testing using Electrical Impedance Spectroscopy (EIS). In addition the partners have jointly filed a patent application covering the use of electrical impedance testing for the evaluation of epithelial barrier function, potentially a unique tool to help address some of the most common disorders such as eczema, food allergy, allergic rhinitis and asthma.
A new US study was published online in the Journal of the American Academy of Dermatology (JAAD) that showed good potential for Nevisense to improve clinical decision-making.
The Company participated in the Fall Clinical meeting in Las Vegas.
A nominating committee was appointed

Important events after the end of the period

No significant events have occurred after the end of the period.

Oct 1 - Dec 31

Jan 1 - Dec 31

THE GROUP

2018

2017

2018

2017

Net sales, SEK ths

2 030

1 886

6 899

6 859

Gross margin, %

52,1%

31,5%

52,0%

35,4%

Equity/Asset ratio, %

88,1%

90,5%

88,1%

90,5%

Net indebtness, multiple

0,13

0,11

0,13

0,11

Cash equivalents, SEK ths

67 514

110 015

67 514

110 015

Cashflow from operating activities, SEK ths

-9 990

-11 358

-37 482

-44 180

Earnings per share (before and after dilution), SEK

-0,69

-1,13

-2,66

-5,00

Shareholder's equity per share, SEK

4,30

12,69

4,30

13,63

Average number of shares, 000'

16 618

9 118

16 618

8 493

Number of shares at closing of period, 000'

16 618

Share price at end of period, SEK

3,10

7,80

3,10

7,80

Number of sold electrodes, pieces

3 872

3 936

15 478

16 704

Average number of employees

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 February 20, 2019.

This interim report has not been subject to review by the Company's auditors.

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

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 first 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 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 and abnormalities. SciBase is listed on Nasdaq First North ("SCIB"). Further information is available at www.scibase.com.