Scandinavian ChemoTech AB (publ) Executive Summary of Interim report Q3 January – September 2024

Third quarter

• Net sales amounted to kSEK 1 499 (1 080)
• Profit before tax amounted to kSEK -3 243 (-4 526)
• Earnings per share amounted to SEK -0,14 (-0,33)
• Cash flow from operating activities totaled to kSEK -5 567 (-4 649)

Period 1 January - 30 September

• Net sales amounted to kSEK 4 525 (2 315)
• Profit before tax amounted to kSEK -10 550 (-15 943)
• Earnings per share amounted to SEK -0,53 (-1,22)
• Cash flow from operating activities totaled to kSEK -10 973 (-14 831)

 Important events during the quarter

• Last day for trading with BTA was July 5, 2024
• ChemoTech’s subsidiary Vetiqure received an order for a complete TSE system including disposable items from one of Sweden’s leading clinics. Total order value was approx. EUR 40 000.

Important events after the quarter

No events after the end of the period

”With our dedicated team and strong partners, we are ready to take the next step in our growth journey. We look forward to continuing to create long-term value for our customers and shareholders and to drive our vision towards a more innovative and sustainable animal care.”
- Mohan Frick, CEO

SUMMARY

The Company reports a stable quarter, with revenue of approximately kSEK 1 500, slightly down from kSEK 1 600 in the previous quarter. Despite the modest decrease, the results reflect progress toward long-term growth, with a strengthened focus on revenue-driven initiatives within Animal Care, a key area for future expansion.

In the Human Care segment, regulatory efforts, particularly related to the registration process in India, remain a key priority. While progress has been slower than in Animal Care, these efforts are expected to open significant opportunities moving forward. A clinical study, primarily externally funded, has faced temporary delays in patient recruitment, but the Company is working to streamline the process and ensure more efficient progress in the future.

Research and development investments have been modest, though progress is being made. Two new treatment kits have been tested by leading veterinarians, with plans to launch at least one of these kits in early 2025, which will further strengthen the Company’s competitive position and open up additional revenue streams.

The Company reported revenue of kSEK 1 500 for the quarter, bringing total year-to-date revenue to kSEK 4 525. After the quarter’s close, new orders valued at approximately kEUR 52 were received for vetIQure systems and treatment kits. The total installed base includes 20 vetIQure systems and 7 IQwave systems, with treatments exceeding 100 per month. The operating loss for the quarter was kSEK -3 178, and cumulative losses were kSEK -9 735. Despite external regulatory costs, the Company remains focused on cost control and efficient resource utilization. While sales are increasing, the Company is still actively seeking capital to support its market expansion within Animal Care.

Efforts to streamline sales within Animal Care are showing results, with growing interest from both small animal and equine clinics. The Company is also refining its ability to identify and prioritize high-potential customers, enhancing resource allocation and sales effectiveness.

The Company participated in a major veterinary oncology conference in the USA, presenting three new clinical posters showcasing successful treatments with its vetIQure system. Additionally, visits to veterinary clinics in horse-rich states in the USA and Europe have resulted in valuable contacts that could lead to significant commercial opportunities. The ability to offer TSE treatment without anesthesia is a key competitive advantage as the Company targets larger equine clinics.

With a dedicated team and strong partnerships, the Company is well-positioned to take the next step in its growth journey. Moving forward, the focus will remain on creating long-term value for customers and shareholders while driving innovation and sustainable growth in animal care.

For more information, please contact:

Mohan Frick, CEO

Phone: +46 (0)10-218 93 00
ir@chemotech.se

Certified Adviser: Redeye AB

Scandinavian ChemoTech AB (publ)
ChemoTech is a Swedish medical technology Company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, Tumour Specific Electroporation™ (TSE), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE can be a solution. Therefore, the Company continuously evaluates new opportunities and areas of application for the technology. ChemoTech’s shares (CMOTEC B) are listed on Nasdaq First North Growth Market in Stockholm and Redeye AB is the Company’s Certified Adviser. Read more at: www.chemotech.se
 

The full version of the Interim Q3 report was published in Swedish November 5th 2024 at 08.30.