Interim Report

January 1 – September 30, 2017

The third quarter in figures

  • Net sales amounted to TSEK 1,172 (1,580).
  • The loss after tax amounted to TSEK 8,810 (12,395).
  • The loss per share amounted to SEK 1.06 (1.50).
  • The cash flow from current operations was negative in the amount of TSEK 9,796 (10,459).
  • The gross margin in the period was 56.8 (44.6)%.
  • Electrode sales in volume grew in total by 9% and reached 3,440 (3,168) units. Repeat sales of electrodes grew by 42%.

The first 9 months in figures

  • Net sales amounted to TSEK 4,973 (4,501).
  • The loss after tax amounted to TSEK 32,168 (38,463).
  • The loss per share amounted to SEK 3.88 (4.64).
  • The cash flow from current operations was negative in the amount of TSEK 32,821 (34,818).
  • The gross margin in the period was 36.8 (34.3)%.
  • Electrode sales grew in total by 33% and reached 12,768 (9,600) units. Repeat sales of electrodes grew by 74%.

Important events during the quarter

  • Following the Pre-Market Approval (PMA) of Nevisense in the US in June, SciBase presented an update of their strategic growth plan. The focus of the plan is SciBase's entry into the US market, the continued growth in the core market Germany, and the utilization of the current product platform for additional clinical indications.  
  • At the British Association of Dermatologist’s annual meeting in July a new study from Southampton University Hospital was presented showing Nevisense’s potential to help clinicians detect melanomas that otherwise could have been missed.  
  • SciBase released a new generation of Nevisense and a new type of electrode for the evaluation of new clinical applications .
  • In September software to integrate Nevisense with DermoScan’s digital dermoscopy system DermoGenius Ultra was launched. The cooperation with DermoScan represents a great opportunity to integrate Nevisense with the more than 400 clinics using DermoGenius Ultra in Germany today.

Important events after the end of the period

  • Nevisense was presented as one of the top ten most important news stories within skin cancer for dermatologists at the Fall Clinical Dermatology Conference.
  • The first Nevisense system in the US will be installed with the well-known key opinion leader Darrel S. Rigel, MD and Clinical Professor of Dermatology at the New York University Medical Center.
  • The first presentation of data in a scientific poster by a US center occurred as a poster at the Fall Clinical meeting by Dr Ryan Svoboda, a Clinical Research Fellow at the National Society for Cutaneous Medicine.
  • SciBase signed a distribution contract with International Fitness and Health Organisation AB to sell to non-specialist clinics and pharmacies in Italy. The agreement included an initial order of approx. MSEK 0.5 and potential for an additional MSEK 0.5 order in 2018.
  • The first US commercial order for Nevisense was received from a private clinic focused on self-pay patients in New York.
  • A nominating committee has been appointed.
  • The Company published a proposed preferential rights offering and a summons to an EGM.
Oct 1 2016 -
July 1 - Sep 30 Jan 1 - Sep 30 Sep 30 2017 Jan 1 - Dec 31
THE GROUP 2017 2016 2017 2016 Rolling-12 2016
Net sales, SEK ths 1 172 1 580 4 973 4 501 6 908 6 436
Gross margin, % 56,8% 44,6% 36,8% 34,3% 36,3% 34,5%
Equity/Asset ratio, % 86,9% 91,3% 86,9% 91,3% 86,9% 90,8%
Net indebtness, multiple 0,15 0,09 0,15 0,09 0,15 0,10
Cash equivalents, SEK ths 50 948 98 272 50 948 98 272 50 948 84 955
Cashflow from operating activities, SEK ths -9 796 -10 459 -32 821 -34 818 -45 853 -47 850
Earnings per share (before and after dilution), SEK -1,06 -1,50 -3,88 -4,64 -5,65 -6,41
Shareholder's equity per share, SEK 7,31 12,96 7,31 12,96 7,31 11,19
Average number of shares, 000' 8 285 8 285 8 285 8 285 8 285 8 285
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 18,30 25,20 18,30 25,20 18,30 19,00
Number of sold electrodes, pieces 3 440 3 168 12 768 9 600 18 368 15 200
Average number of employees 21 22 22 21 22 21

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 November 10, 2017 .

The Company will hold a livepresentation of the Q3 report and a Q&A at 10 a.m. which can be followed through the following link:

https://www.redeye.se/live/scibase-q3-2017

For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email:
simon.grant@scibase.com  

Michael Colérus, CFO SciBase
Tel: +46 70 341 34 72
Email: michael.colerus@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 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 now also 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. SciBase is listed on Nasdaq First North (“SCIB”). Avanza is the certified advisor. Further information is available on www.scibase.com

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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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