Interim report

January 1 – September 30, 2018

The third quarter in figures

  • Net sales amounted to TSEK 1,359 (1,172).
  • The loss after tax including an extraordinary one-time charge amounted to TSEK 12,754 (8,810).
  • The loss per share amounted to SEK 0.77 (1.06).
  • The cash flow from current operations was negative in the amount of TSEK 7,692 (9,796).
  • The gross margin was 52.6% (56.8%).
  • Electrode sales in volume decreased by 10% and reached 3,088 (3,440) units. Repeat sales of electrodes decreased by 19% partly affected by timing of purchases and partly by customers having a “wait and see” attitude towards the in September launched new Nevisense 3.0.

The first 9-months in figures

  • Net sales amounted to TSEK 4,869 (4,973).
  • The loss after tax amounted to TSEK 32,709 (32,168).
  • The loss per share amounted to SEK 1.97 (3.88).
  • The cash flow from current operations was negative in the amount of TSEK 27,492 (32,821). 
  • The gross margin was 51.9% (36.8%).
  • Electrode sales in volume decreased by 9% and reached 11,606 (12,768) units. Repeat sales of electrodes decreased by 2%.

Important events during the quarter

  • Nevisense 3.0, an improved version of Nevisense,  was presented for the first time at the FOBI meeting in Munich in July. The update streamlines the measurement procedure and significantly improves usability, making the product easier to integrate into a dermatology clinic’s patient workflow. At the meeting Prof Axel Hauschild also presented Nevisense in a workshop with nearly 100 attendees.The improvement has been received very positively by customers and almost 100 Nevisense systems have been upgraded to date.

Important events after the end of the period

  • A new US study was published online in the Journal of the American Academy of Dermatology (JAAD).
  • The Company participated in the Fall Clinical meeting in Las Vegas.
  • A nominating committee has been appointed.
Oct 1 2017 -
July1 - Sep 30 Jan 1 - Sep 30 Sep 30 2018 Jan 1 - Dec 31
THE GROUP 2018 2017 2018 2017 Rolling-12 2017
Net sales, SEK ths 1 359 1 172 4 869 4 973 6 755 6 859
Gross margin, % 52,6% 56,8% 51,9% 36,8% 46,2% 35,4%
Equity/Asset ratio, % 89,2% 86,9% 89,2% 86,9% 88,2% 90,5%
Net indebtness, multiple 0,12 0,15 0,12 0,15 0,13 0,11
Cash equivalents, SEK ths 77 551 50 948 77 551 50 948 77 551 110 015
Cashflow from operating activities, SEK ths -7 692 -9 796 -27 492 -32 821 -38 850 -44 180
Earnings per share (before and after dilution), SEK -0,77 -1,06 -1,97 -3,88 -3,40 -5,00
Shareholder's equity per share, SEK 4,97 7,31 4,97 7,31 6,76 13,63
Average number of shares, 000' 16 618 8 285 16 618 8 285 10 576 8 493
Number of shares at closing of period, 000' 16 618 8 285 16 618 8 285 16 618 16 618
Share price at end of period, SEK 4,52 18,09 4,52 18,09 4,52 7,80
Number of sold electrodes, pieces 3 088 3 440 11 606 12 768 15 542 16 704
Average number of employees 19 21 19 22 20 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 13, 2018.

Contact person:

Michael Colérus, CFO

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 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.

Tags:

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.

Subscribe

Documents & Links