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Gradientech: Interim report 1 January – 30 June 2022

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Gradientech AB (publ) interim report for Q2 2022 is now available on the company's website www.gradientech.se.

Second quarter April-June 2022

  • Net sales amounted to 4 KSEK (0 KSEK).
  • Net profit/loss amounted to -17 741 KSEK (-11 517 KSEK).
  • Earnings per share before dilution were SEK -1.11 (SEK -0.94) and earnings per share after dilution were SEK -1.07 (SEK -0.94).
  • Cash flow from current operations amounted to -21 901 KSEK (-10 858 KSEK).
  • Cash and cash equivalents as of 30 June amounted to 51 840 KSEK (43 995 KSEK).
  • Equity as of June 30 amounted to 60 857 KSEK (53 668 KSEK).
  • During the quarter, Gradientech CE-IVD registered its first diagnostic product QuickMIC® and its gram-negative panel. The certification took place with the support of the clinical study completed during the quarter, with performance results exceeding the regulatory requirements for a new system for testing of antibiotic susceptibility, as well as the shortest average time to resistance response compared to competing systems on the market.
  • Urban Adolfsson took over as new CFO and Hans Richter ended his assignment as interim CFO.
  • Elisabet Nielsen joined the company's Scientific Advisory Board as a new member.

The period January-June 2022

  • Net sales amounted to 4 KSEK (0 KSEK).
  • Net profit/loss amounted to -32 913 KSEK (-21 486 KSEK).
  • Earnings per share before dilution were SEK -2.15 (SEK -1.76) and earnings per share after dilution were SEK -2.07 (SEK -1.76).
  • Cash flow from current operations amounted to -36 788 KSEK (-25 560 KSEK).
  • After the new share issue that was registered at Bolagsverket on 2 February 2022 and increased the number of shares by 3,768,370 and the share capital by SEK 376,837, the share capital amounts to SEK 1,597,419.30 and the number of shares to 15,974,193 at the end of the period.
  • Peter Karlberg joined as VP Sales with responsibility for sales and the commercial organization.

Significant events after the end of the period

  • In July, Gradientech signed an exclusive distribution agreement with Biomedica for the commercialization of QuickMIC® in Austria, Switzerland and East Central Europe.
  • Gradientech IVDR-registered the Class A products, instruments and sample preparation kit in the QuickMIC® system, in compliance with the new European IVD regulation.
  • Anna Tiensuu joined as QA & Regulatory Affairs Manager in mid-August.

For more information please contact:
Sara Thorslund, PhD, CEO Gradientech
Tel: +46 736 29 35 80
sara.thorslund@gradientech.se

About Gradientech
Gradientech is leading the field of ultra-rapid antibiotic susceptibility testing. We develop next-generation diagnostics in infectious disease medicine. Our product QuickMIC allows patients with sepsis to quickly receive specific guidance on the right antibiotic in the right dose. It saves lives, reduces healthcare costs and limits the spread of antibiotic resistance – one of the greatest global health threats of our time. Gradientech is headquartered in Uppsala. Visit www.gradientech.se for more information. 

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