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22-Aug-2019

SciBase: Interim Report

STOCKHOLM, Aug. 22, 2019 /PRNewswire/ --

January 1 – June 30, 2019

The second quarter in figures

  • Net sales amounted to TSEK 2,168 (1,571).
  • The loss after tax amounted to TSEK 10,613 (10,298).
  • The loss per share amounted to SEK 0.64 (0.62).
  • The cash flow from current operations was negative in the amount of TSEK 9,900 (10,119).
  • The gross margin reached 53.3% (58.2%).
  • Electrode sales volume increased by 33% and reached 5,712 (4,304) units. Repeat sales of electrodes to existing customers increased by 41%.

The first half-year in figures

  •  Net sales amounted to TSEK 4,536 (3,510).
  •  The loss after tax amounted to TSEK 19,520 (19,955).
  •  The loss per share amounted to SEK 1,17 (1.20).
  •  The cash flow from current operations was negative in the amount of TSEK 18,850 (19,801).
  •  The gross margin increased to 52.9% (51.7%).
  •  Electrode sales volume increased by 38% and reached 11,792 (8,438) units. Repeat sales of electrodes to existing customers increased by 50%.

Important events during the quarter

  • Sales in the company's key market Germany increased by 40% in the quarter following a further improvement in electrode sales. 
  • An application for the Nevisense 3.0 software was submitted to the US FDA. 
  • A new study was published that opened up the skin barrier assessment application for SciBase's product Nevisense. The paper, entitled 'Direct assessment of skin epithelial barrier by electrical impedance spectroscopy', was published in the journal Allergy, European Journal of Allergy and Clinical Immunology. 
  • Three scientific presentations described the use of EIS for skin barrier assessment at the EAACI (European Academy of Allergy and Clinical Immunology) meeting in June. SciBase presented the skin barrier application for the first time at an allergy conference.
  • Nevisense was included in the first US and European investigator-initiated studies utilizing Nevisense for skin barrier assessment.
  • The AGM 2019 was held on May 16th. 

Important events after the end of the  period

  • 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.





July 1 2018 -



Apr 1 - June 30

Jan 1 - June 30

June 30 2019

Jan 1 - Dec 31

THE GROUP

2019

2018

2019

2018

Rolling-12

2018

Net sales, SEK ths

2 168

1 571

4 536

3 510

7 925

6 899

Gross margin, %

53,3%

58,2%

52,9%

51,7%

52,7%

52,0%

Equity/Asset ratio, %

74,5%

92,0%

74,5%

92,0%

85,0%

88,1%

Net indebtness, multiple

0,34

0,09

0,34

0,09

0,18

0,13

Cash equivalents, SEK ths

46 772

85 231

46 772

85 231

46 772

67 514

Cashflow from operating activities, SEK ths

-9 900

-10 119

-18 850

-19 801

-36 532

-37 482

Earnings per share (before and after dilution), SEK

-0,64

-0,62

-1,17

-1,20

-2,63

-2,66

Shareholder's equity per share, SEK

3,10

5,76

3,10

5,76

6,96

4,30

Average number of shares, 000'

16 618

16 618

16 618

16 618

10 576

16 618

Number of shares at closing of period, 000'

16 618

16 618

16 618

16 618

16 618

16 618

Share price at end of period, SEK

4,34

6,45

4,34

6,45

4,34

3,10

Number of sold electrodes, pieces

5 712

4 304

11 792

8 438

15 920

12 566

Average number of employees

18

20

18

20

19

19

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

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 August 22, 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, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. 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 US FDA-approval (PMA). 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.

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Last Updated: 22-Aug-2019