Diagonal Bio AB Second Quarter Report (Q2 2024)
“In the second quarter of 2024, we have made advancements, particularly within the equine healthcare sector (horse veterinary clinics) where our connections and the interest in our Point-of-Care instrument continue to deepen.”
Summary of Q1 report 2024
2024-04-01 — 2024-06-30 (April — June 2024)
● Net sales amounted to 0 KSEK (0 KSEK), capitalised development contributed with 284 KSEK (911 KSEK),
and other operating income amounted to 0 KSEK (4 KSEK).
● Operating profit amounted to -3 118 KSEK (-2 798 KSEK).
● Operating profit per net weighted average share amounted to -0.01 SEK (-0.08 SEK).
● Cash flow during the second quarter amounted to 2 302 KSEK (-4 204 KSEK).
● Cash and cash equivalents at the end of the period amounted to 4 158 KSEK (5 533 KSEK).
Significant Events during the Second Quarter of 2024
● On April 5, 2024, Diagonal Bio announced successful pilot study results and extended its partnership with Hørsholm Veterinary Clinic.
● On April 10, 2024, Diagonal Bio announced that the Company strengthened its go-to-market strategy through an agreement with founding partner Johan Källstrand.
● On April 24, 2024, Diagonal Bio communicated the outcome of the rights issue, securing SEK 18 million before transaction costs.
● On May 15, 2024, Diagonal Bio announced a strategic pilot study with Löberöds Hästklinik, focusing on equine health diagnostics.
● On May 23, 2024, Diagonal Bio appointed Fata Mrsic as the new Chief Financial Officer. Fata was set to assume the position on June 14, 2024, joining the Management Team.
Significant Events after June 30, 2024
● On August 21, 2024, Diagonal Bio announced that the Technical University of Denmark (DTU) has secured funding for a project in fish diagnostics, which will be developed using Diagonal Bio's instrument. The project will include the purchase of LAMPlify, along with related consumables and consulting services, valued at 210,000 SEK.
This press release contains inside information that Diagonal Bio AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on August 22, 2024, at 08:00 CET.
For additional information about Diagonal Bio AB
Please contact: Karin Wehlin, CEO
Phone: +46 703 052488
E-mail: kw@diagonalbio.com
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
E-mail: ca@skmg.se
About Diagonal Bio
Diagonal Bio AB was founded in 2020 and is a Swedish biotechnology company with headquarters and offices in Lund. The Company develops the PANVIRAL® platform to detect and diagnose small sections of pathogen genomes, for example viruses, bacteria and fungi. The Company was founded with the goal of reducing human suffering by revolutionizing global diagnostics of pathogen-borne diseases with proprietary technology. Diagonal Bio's patented technology can also be used for the less regulated market segments via LAMPlify®.