ARTIMPLANT THREE - MONTH REPORT 2013
• Net revenue amounted to SEK 4.4 million (6.8)
• The net loss totaled SEK 4.7 million (2.3), a deterioration of SEK 2.4 million due to the fall in revenue.
• Earnings per stock unit amounted to SEK -0.01 (-0.01).
• Artimplant prolongs its funding agreement regarding costs for trials in USA and recovers previous legal costs of SEK 5 million.
• Artimplant has requested arbitration in the insurance dispute.
• The company is in need of a capital injection, the Board has therefore decided to review its strategic options.
Events after the period-end
• The Company has entered into a sales, marketing and distribution agreement with Tiller International Capital. The agreement grants Tiller the exclusive right to sell, market and distribute all Artimplant’s products outside Europe and a non-exclusive right within Europe.
• The Board postponed the Annual General Meeting until June 27, 2013.
* Figures in brackets refer to the corresponding period last year.
N. B. This is a translation from Swedish. The Swedish version shall always take precedence.
For further information, please contact:
Kjell Thörnbring, CEO
Telephone: +46 703 11 90 25
Further information at www.artimplant.com where one also can subscribe to future press releases; www.artimplant.com/investors-media/subscribe-to-press-releases.html
Artimplant is a biomaterials company focused on solutions to problems in orthopedic. We restore health through the development, production and marketing of degradable implants that regenerate body functions and improve quality of life. Our products, made from Artelon®, meet unmet clinical needs and are marketed in a growing number of therapy areas. Artimplant produces implants for treatment of osteoarthritis in hands and feet, for shoulder and other soft tissue injuries.
Artimplant is a public company listed on the OMX Nordic Exchange Stockholm in the Small Cap segment and in the healthcare sector.
This press release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.
This is information which Artimplant shall make public pursuant to the Swedish Financial Instruments Act and the Swedish Securities Exchange and Clearing Operations Act and/or stock market agreements. Information was made available for publication on May 30, 2013 at 2:30 PM (Swedish time).