Year-end Report 2012
Continued growth in clinical sales, +55% in the fourth quarter supported by US operations and signed distribution agreements in key regions.
January – December 2012
- Global Net sales grew by 57% to SEK 147.0m (93.5)* of which SEK 35.7m (15.5) were strategic sales (sales to Pharmaceutical companies and CRO’s for clinical trials). Adjusted for currency fluctuations, net sales rose by 56% Year over Year (Y-o-Y).
- The worldwide number of NIOX MINO® repeat tests sold increased in total by 35%; repeat tests for clinical use in the US grew by 54%. Total number of tests sold (repeat and initial) reached over 1.8 (1.2) million tests, an increase of 50% Y-o-Y.
- The loss after tax amounted to SEK 201.6m (138.7), corresponding to a loss per share before and after dilution of SEK 1.6 (1.4). The increased loss was primarily driven by increased investments in commercial and reimbursement activities in the US and increased litigation.
October – December 2012
- Global net sales grew by 24% to SEK 36.2m (29.1) of which SEK 3.3m (7.1) were strategic sales.
- The worldwide number of NIOX MINO® repeat tests sold increased in total by 5%; repeat tests for clinical use in the US grew by 29%. Total number of tests sold reached almost 0.5 (0.3) million test an increase of 45%.
- The loss after tax amounted to SEK 63.0m (50.7), corresponding to a loss per share before and after dilution of SEK 0.4 (0.5).
- Continued improvement of reimbursement in the US as Medica Health Plans of Minnesota, a BlueCross BlueShield company, and Horizon BlueCross BlueShield announced that they updated their medical policies for FeNO testing and provide positive coverage effective from September 19 and December 12, 2012, respectively.
- In December a clinical trial was published in The American Journal of Respiratory and Critical Care Medicine shows that FeNO-testing is an objective tool to identify patients that don’t adhere to steroid treatment.
Significant events after the period
- Texas Medicaid will begin reimbursing FeNO tests on April 1, 2013. Texas has the third largest Medicaid population in the U.S. after California and New York, with more than 3.7 million beneficiaries.
AEROCRINE IN BRIEF
|October – December||January – December|
|Gross margin %||73%||71 %||72%||69 %|
|Net profit after tax||-63.0||-50.7||-201.6||-138.7|
|Cash flow, current operations||-49.1||-31.3||-184.2||-96,5|
|Total cash flow||-49.2||-31.8||48.8||-102.8|
For further information, please contact:
Scott Myers, CEO: +46 768 788 379 or +1 970 368 0336
Michael Colérus, CFO: +46 8 629 07 85
*Note all numbers in ( ) are the corresponding period previous year and in the same unit.
This is information that Aerocrine AB (publ) is required to publish in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. This information was submitted for publication on February 22, 2013, at 8.00 a.m.