OssDsign AB (publ) publishes Q2 2020 interim report

Sales growth during a quarter impacted by Covid-19.

The second quarter in figures

• Net sales amounted to TSEK 3 905 (3 454).
• Loss after taxes amounted to TSEK 22 586 (18 330).
• Loss per share was SEK 1,3 (1,3).
• Cash flow from current operations was TSEK -15 829 (-13 917).

The first half year in figures

• Net sales amounted to TSEK 11 631 (6 968).

• Loss after taxes amounted to TSEK 40 898 (35 670).
• Loss per share was SEK 2,3 (2,7).
• Cash flow from current operations was TSEK -37 962 (-36 464).

Important events during the second quarter

• Morten Henneveld appointed Chief Executive Officer of OssDsign upon the retirement of Anders Lundqvist on September 1st

• OssDsign Cranial PSI granted full nationwide reimbursement in Japan.
• Appointment of Vice President of Sales for OssDsign USA Inc.
• The Annual General Meeting 2020 was held on May 20th.
• ABG Sundal Collier appointed as Liquidity Provider.

Important events after the end of the second quarter

• Muranaka Medical Instruments Co., Ltd., appointed as business partner in Japan.

The COVID-10 pandemic

In Q2, the Company’s sales performance in all key markets was impacted by the Covid-19 outbreak – most notably during the initial stages of the pandemic when hospitals were forced to halt elective surgeries in order to handle the sudden surge of Covid-19 patients. These effects are fortunately transient as the underlying need for surgery involving OssDsign’s products remains unaltered in the long term. In many markets a more normal scheduling of neurosurgical procedures was noted during the latter part of the quarter. OssDsign expects to continue to grow procedure volumes during the second half of 2020 as postponed procedures are gradually re-scheduled. Uncertainty remains over the trajectory in the US however, with several key states such as California, Florida and Texas re-imposing lock-down restrictions and halting elective surgeries as Covid-19 cases grow once more. At the current time it is difficult to provide an accurate forecast of the impact of these restrictions in these states, but the company is prioritizing its sales activity in states with lower rates of Covid-19 infection.


Certified Adviser
The Company’s Certified Adviser is Erik Penser Bank AB. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email: certifiedadviser@penser.se.

For further information, please contact:
Anders Lundqvist, CEO, OssDsign AB
Tel: +46 73 206 98 08, email: al@ossdsign.com 

About OssDsign
OssDsign is a Swedish medical technology company that develops and manufactures regenerative implants for improved healing of bone defects. Providing neuro and plastic surgeons with innovative implants, OssDsign improves the outcome for patients with severe cranial and facial defects worldwide. By combining clinical knowledge with proprietary technology, OssDsign manufactures and sells a growing range of patient-specific solutions for treating cranial defects and facial reconstruction. OssDsign's technology is the result of collaboration between clinical researchers at Karolinska University Hospital in Stockholm and material scientists at the Ångström Laboratory at Uppsala University.

This information is information that OssDsign AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08:00 CET on August 19th, 2020

Tags: