Invent Medic Sweden AB presents interim report for 3[rd] quarter 2020

Solid sales in Sweden and Norway, while other markets are still affected by the corona pandemic

FIRST NINE MONTHS (January–September 2020)

• The company’s sales amounted to 1,161 (248) KSEK.
• Other operating income amounted to 13 (0) KSEK.
• Operating costs amounted to 12,031 (9,207) KSEK.
• Result before and after tax amounted to -11,049 (-8,960) KSEK.
• Result per share amounted to -0.80 (-0.87) SEK.
• Cash and cash equivalents at the end of the period amounted to 15,973 (3,921) KSEK.

THIRD QUARTER (July–September 2020)

• The company’s sales amounted to 288 (31) KSEK
• Other operating income amounted to 0 (0) KSEK.
• Operating costs amounted to 3,731 (2,875) KSEK.
• Result before and after tax amounted to -3,504 (-2,844) KSEK.
• Result per share amounted to -0.24 (-0.28) SEK.

Summary of the interim report

CEO Karin Bryder summarizes the quarter

During the third quarter, we noticed regional differences when it comes to how severe societies and healthcare systems are affected by the corona pandemic. The activity in Efemia’s segment has increased again in Sweden and Norway. This together with new agreements with Apotea and Kronans Apotek (the latter also including the distributor Oriola) as well as successful campaigns contributed to solid sales figures. However, our sales in the UK and Germany have not taken off as expected as these countries are more severely affected by the return of a higher Covid-19 infection rate. However, the future still looks bright considering the agreement on cost coverage with NHS England, and that Efemia was included in the German healthcare insurance companies’ list of medical products entitled to cost coverage in October. After agreements have been signed directly with the relevant insurance companies, Efemia will be approved for cost coverage in all possible markets in Europe. The fourth quarter has started on a positive note with our successful ”Stöd i kön” (“Support in the queue”) campaign in Sweden. At the same time, the preparations for a possible launch in the United States and possibly additional markets are proceeding, and the same is true for our work to extend our product pipeline.

This disclosure contains information that Invent Medic Sweden is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 27-10-2020 12:14 CET.

For more information please contact
Karin Bryder, CEO
Phone: +46 (0)723811710
E-mail: info@inventmedic.com 

About Invent Medic
Invent Medic Sweden AB (Invent Medic) is a Swedish company developing innovative products with the aim to improve women’s health and quality of life. The company’s products are to be safe, effective and easy to use. Invent Medic’s first product, Efemia, is a CE-certified and patented medical technology product used to reduce stress urinary incontinence (SUI) that was shown to reduce urine leakage with 77 percent during usage in a clinical study. The product is based on the same scientific principle as the TVT method, the premier surgical treatment for SUI. Invent Medic’s share is listed on the Spotlight Stock Market with the ticker symbol IMS, and the share’s ISIN code is SE0007603402. More information can be found at www.inventmedic.com and www.spotlightstockmarket.com.