Diagonal Bio AB Year-end Report 2023
“Looking back at 2023, I am proud to point out the significant steps we have made in our development, including the key achievements such as the CE-marking of LAMPlify® according to Low Voltage Directive (LVD) 2006/95/ EC. A highlight of our fourth quarter was the commencement of LAMPlify® commercialisation.” says, Karin Wehlin, interim CEO Diagonal Bio AB.
Summary of Year-end Report 2023
2023-10-01 — 2023-12-31 (October — December)
• Net sales amounted to 23 KSEK (0 KSEK), capitalised development contributed with 405 KSEK (846 KSEK), while other operating income amounted to 7 KSEK (3 KSEK).
• Operating profit amounted to -2 462 KSEK (-3 938 KSEK).
• Operating profit per net weighted average share amounted to -0.06 SEK (-0.33 SEK).
• Cash flow during the fourth quarter amounted to -1 745 KSEK (2 817 KSEK).
• Cash and cash equivalents at the end of the period amounted to 2 972 KSEK (13 585 KSEK).
2023-01-01 — 2023-12-31 (January — December)
• Net sales amounted to 23 KSEK (203 KSEK), capitalised development contributed with 3 128 KSEK (3 503 KSEK) and other operating income amounted to 25 KSEK (28 KSEK).
• Operating profit amounted to -11 566 KSEK (-15 163 KSEK).
• Operating profit per net weighted average share amounted to -0.32 SEK (-1.7 SEK).
• Cash flow during the period amounted to -10 613 KSEK (-7 181 KSEK).
Significant Events during the Fourth Quarter of 2023
• On November 14, 2023, Diagonal Bio announced the initiation of a pilot study with Techtum Lab AB to identify genetic markers for herpes and influenza viruses in horses.
• On November 23, 2023, Diagonal Bio announced the appointment of board member Karin Wehlin as interim CEO, following a mutual agreement between the previous CEO and the board.
• On November 27, 2023, Diagonal Bio communicated that the Company had signed an agreement with Hörsholms Hästepraksis for a paid test period using the LAMPlify® system, marking Diagonal Bio's first customer revenue.
Significant Events after December 31, 2023
• On February 2, 2024, Diagonal Bio updated its financial situation, indicating efforts for a long-term financial solution to be announced in connection with the Year-end Report for 2023.
• On February 16, 2024, Diagonal Bio signed a distribution agreement with Techtum Lab AB.
For additional information about Diagonal Bio AB
Please contact:
Karin Wehlin, Interim CEO
Phone: +46 703 052 488
E-mail: kw@diagonalbio.com
Kerstin Åkesson Jakobsson
Chair of the Board of Directors
Phone: +46 705 504 540
E-mail: kj@diagonalbio.com
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
E-mail: ca@skmg.se
Diagonal Bio is a Swedish Medtech company founded in 2020 with the vision to limit the spread of infectious diseases worldwide by creating an easy-to-use, cost-efficient, quick, and accurate platform technology based on Diagonal Bio’s patented technology for detection of genetic markers.
At Diagonal Bio we are creating two separate product lines intended for different market segments: LAMPlify®️for the less regulated market segments; PANVIRAL®️ for the in-vitro diagnostic market segments.