Glycorex Transplantation AB (GTAB): Interim Report April-June 2021
Net sales increased 143% and significantly improved operating income.
April – June 2021 (compared to the corresponding period last year)
- Net sales: SEK 8,0 million (3,3).
- Operating income: SEK -2,2 million (-6,4).
- Net income for the period: SEK -2,3 million (-6,8).
- Earnings per share: SEK -0,03 (-0,09), no dilution effects.
- COVID-19 reorientation support SEK 0,85 million received.
- Positive trend and good sales growth in the majority of the company's markets, including record sales to Spain and 74 percent growth in the company's largest market Germany.
- Publication in The Journal of Heart and Lung Transplantation shows significant benefits from using Glycosorb® ABO intraoperatively for blood group-incompatible heart transplants in children.
- Good results with the company's UBP product presented at the Spanish Blood and Transfusion Congress for 2021, SETS.
- Strong end to the quarter and positive signals from the market inspire optimism.
| Second quarter | 6 months | Full year | |||
| SEK Thousands | Apr-Jun 2021 | Apr-Jun 2020 | Jan-Jun 2021 | Jan-Jun 2020 | Jan-Dec 2020 |
| Net sales | 7, 954 | 3, 267 | 12, 877 | 10, 941 | 27, 000 |
| Change in stocks of finished goods | -222 | -786 | -381 | -1, 038 | -81 |
| Own work capitalized | 225 | 216 | 416 | 818 | 1, 640 |
| Other operating income | 928 | 316 | 1, 031 | 445 | 1, 654 |
| Total | 8, 885 | 3, 013 | 13, 943 | 11, 166 | 30, 213 |
| Operating expenses | |||||
| Raw materials and supplies | -772 | -803 | -1, 199 | -1, 769 | -3, 929 |
| Other external expenses | -2, 564 | -2, 111 | -4, 931 | -4, 076 | -9, 284 |
| Personnel expenses | -5, 582 | -4, 335 | -10, 955 | -8, 122 | -16, 419 |
| Depreciation and amortization of fixed assets | -2, 116 | -1, 983 | -4, 230 | -3, 241 | -7, 830 |
| Other operating expenses | -60 | -219 | -124 | -219 | -475 |
| Operating income | -2, 209 | -6, 438 | -7, 496 | -6, 261 | -7, 724 |
| Net financial items | -124 | -321 | -209 | -165 | -326 |
| Income before tax | -2, 333 | -6, 759 | -7, 705 | -6, 426 | -8, 050 |
| Taxes | 29 | - | 55 | - | 10 |
| Net income | -2, 304 | -6, 759 | -7, 650 | -6, 426 | -8, 040 |
| Earnings per share, SEK | -0.03 | -0.09 | -0.1 | -0.09 | -0.11 |
THE COMPLETE INTERIM REPORT FOR THE SECOND QUARTER IS ATTACHED (IN SWEDISH)
This is a translation and an excerpt of the first page of the Swedish version of the Interim report. When in doubt, the Swedish wording prevails.
This disclosure contains information that Glycorex Transplantation is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person, on August 25, 2021 08:00 CET.
Contact
Johan Nilsson, Interim CEO, Glycorex Transplantation AB.
E-mail: info@glycorex.se, phone: 046-286 52 30
Brief information about the company
Glycosorb® ABO is one of Glycorex Transplantation AB's self-developed proprietary medical devices that is used clinically in four continents to facilitate blood group-compatible transplants, especially in kidney transplants from related living donors, but the product is also used in liver, heart, lung and stem cell transplantation. The product has so far been used in more than 5,000 kidney transplants. The short-term and long-term results are excellent. The results have been presented in over 60 scientific articles in reputable medical journals. Each kidney transplant has been estimated to save up to SEK 5 million in dialysis costs alone. Each kidney transplant saves about 150 dialysis treatments per year, meaning that the over 5,000 kidney transplants performed after Glycosorb® treatments, can be estimated to save over 700,000 dialysis treatments per year. In addition to Europe, the product is used in India, Canada, Israel, Singapore, Thailand, Mexico and Australia, for example.
The company has also developed a CE-marked medical device for the development of universal blood plasma and are developing products for the specific reduction of autoantibodies in the treatment of autoimmune diseases, as well as products for specific reduction of galectins. The company also develops products for the simultaneous reduction of blood group A/B specific antibodies and HLA antibodies (tissue-specific antibodies). The company is collaborating with a leading European research institute to develop a product for the treatment of the autoimmune disease rheumatoid arthritis. There are approximately 5 million patients in the EU who have this disease.
Glycorex Transplantation AB (publ) is listed on NGM Main Regulated Equity (Nordic Growth Market) and is traded under the symbol GTAB B.