Interim Report

January 1 – June 30, 2016

The second quarter in figures

  • Total net sales amounted to TSEK 1,855 (918).
  • The loss after tax amounted to TSEK 14,468 (10,939).
  • The loss per share amounted to SEK 1.75 (1.80).
  • The cash flow from current operations was negative in the amount of TSEK 13,112 (13,858).
  • Significant margin improvement with gross margin increasing to 30.1% in Q2 (-34.5% Q2 15).

 The first half-year in figures

  • Total net sales amounted to TSEK 2,921 (1,975).
  • The loss after tax amounted to TSEK 26,068 (20,118).
  • The loss per share amounted to SEK 3.15 (3.63).
  • The cash flow from current operations was negative in the amount of TSEK 24,359 (23,055).
  • Significant margin improvement with gross margin increasing to 28.7% (-14.6%).

 Important events during the quarter

  • Record growth in key market Germany with total sales up 124% and electrode sales volume up 212%.
  • SciBase will insource the strategically important production of the disposable electrode from Ginolis. The companies have mutually agreed to transfer the manufacturing to SciBase when Ginolis AB has completed the next milestone in the stepwise automation of the production process. 
  • As part of the Nevisense PMA-process, a series of inspections were carried out by the US FDA with good results. 
  • The AGM was held on May 16, 2016.
  • SciBase participated in the Euromelanoma week May 9-13, a European initiative to highlight skin-cancer.  
  • On April 25th, the Annual Report for 2015 was published.

Important events after the end of the period

A milestone was passed when the hundredth clinic in Germany installed a Nevisense device.

Financial overview 

Jul 1 2015 -
Apr 1 - June 30 Jan 1 - June 30 Jun 30 2016 Jan 1-Dec 31
THE GROUP 2016 2015 2016 2015 Rolling-12 2015
Net sales, SEK ths 1 855 918 2 921 1 975 5 097 4 151
Gross margin, % 30,1% -34,5% 28,7% -14,6% 24,1% 2,5%
Equity/Asset ratio, % 92,7% 91,4% 92,7% 91,4% 92,7% 95,1%
Net indebtness, multiple 0,08 0,09 0,08 0,09 0,08 0,05
Cash equivalents, SEK ths 108 786 165 595 108 786 165 595 108 786 133 736
Cashflow from operating activities, SEK ths -13 112 -13 858 -24 359 -23 055 -47 892 -46 588
Earnings per share (before and after dilution), SEK* -1,75 -1,80 -3,15 -3,63 -5,73 -6,01
Shareholder's equity per share, SEK* 14,45 27,41 14,45 30,13 14,45 21,09
Average number of shares, 000'* 8 285 6 085 8 285 5 535 8 285 6 910
Number of shares at closing of period, 000'* 8 285 8 285 8 285 8 285 8 285 8 285
Share price at end of period, SEK 17,20 43,00 17,20 43,00 17,20 31,00
Average number of employees 19 13 19 14 15 14
*Adjusted for in May 2015 performed reversed split, 40:1

For further information please contact:

Simon Grant, CEO, tele :   46 72 887 43 99

Michael Colérus, CFO, tele : 46 70 341 34 72

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 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 is awaiting 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. SciBase is listed on Nasdaq First North (“SCIB”). Avanza is the certified advisor. Further information is available on www.scibase.com.

Contactperson:

Michael Colérus, CFO

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 above, at 08.00 CET on August 19, 2016.


About Us

SciBase is a Swedish medical technology company founded in 1998 that has developed Nevisense, a point-of-care device for the accurate detection of malignant melanoma. Nevisense has emerged from more than 20 years of research at Karolinska Institute in Stockholm and at SciBase. The device is designed to be provide additional information when evaluating lesions with a suspicion of melanoma. Nevisense is based on a technology called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies. The CE-marked system consists of an electrode on a hand-held probe connected to a small portable device performing the analysis and displaying the result. A video describing the Nevisense method is available on: www.scibase.se/en/the-nevisenseproduct and further information is also available on www.scibase.com.

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