Continued strong sales in third quarter

Third quarter 2012 (compared with the same period 2011)

  • Net sales increased by 152% to SEK 1,972k (784k).
  • Loss after financial items was SEK 3,259k (loss: 3,018k).
  • Comprehensive income per share basic and diluted totaled SEK -0.27 (-0.43).
  • Cash flow from operating activities during the period was SEK -3,614k (-3,040k).
  • Cash and cash equivalents at the end of the period totaled SEK 10,917k (11,035k).

January – September 2012 (compared with the same period 2011)

  • Net sales increased by 110% to SEK 4,064k (1,932k).
  • Loss after financial items was SEK 11,696k (loss: 9,803k).
  • Comprehensive income per share basic and diluted totaled SEK -1.25 (-1.72).
  • Cash flow from operating activities during the period was SEK -10,959k (-9,647k).

COMMENTS FROM THE CEO

During the third quarter we continue to see an increase in sales, as well as interest from completely new customers, and we are pleased that demand from existing customers gives larger volumes. It is evident that the products have reached the market through numerous publications and conference papers from our customers, including Pfizer, Amgen, Bruker, FDA and SigmaAldrich, in which they demonstrate the advantages of using our products.

Gross income improved during the third quarter compared with same period last year. We continue our strategic efforts with a strong focus on increased sales of the products in our protein engineering portfolio and as a result, to date this year we have seen increased costs in production as well as in sales and marketing. Three people have joined our staff, two in sales and one in production. However, costs for research and development as well as administration have not increased during the period.

Sarah Fredriksson, CEO

For more information, please contact: Sarah Fredriksson, CEO, Genovis AB Tel: 4646 -101235 sarah.fredriksson@genovis.com

ABOUT GENOVIS

Genovis develops and sells innovative technologies from two unique product portfolios. The first includes enzymes that facilitate development and quality control for applications such as antibody-based drugs. The products launched to date are aimed at customers who work with development of drugs, new diagnostic methods and basic research.

The second consists of nanotechnology in new contrast agents and focuses on design, production and characterization of nanostructures as contrast agents in medical imaging. The nanostructures and methods that Genovis focuses on can also be used as carriers of various substances in the development of new drug delivery methods. The projects are mainly in-house, but also include collaborations with research groups, including at Lund University.

Genovis shares are listed on the First North OMX Nordic Exchange and Thenberg Fondkommission is our certified advisor.

About Us

Genovis’ business concept is to develop, produce and market innovative technologies that facilitate and enable development of new treatment methods and diagnostics for customers in the medical device and pharmaceutical industries. The Group consists of Genovis AB and the subsidiary GeccoDots AB. Genovis develops and sells unique enzymes (protein engineering portfolio) in innovative product formats that facilitate development and quality control of and biological drugs. GeccoDots uses nanotechnology to produce a new type of contrast agent that is used in medical imaging. Genovis shares are listed on NASDAQ OMX First North

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