Correction previously distributed press release SciBase Holding AB (publ): Year-end report 2018

January 1 – December 31, 2018

The fourth quarter in figures

  • Net sales amounted to TSEK 2,030 (1,886).
  • The loss after tax amounted to TSEK 11,506 (10,295).
  • The loss per share amounted to SEK 0.69 (1.13).
  • The cash flow from current operations was negative in the amount of TSEK 9,990 (11,358).
  • The gross margin increased to 52.1% (31,5%).
  • Electrode sales in volume decreased by 2% and reached 3,872 (3,936) units. Repeat sales of electrodes to existing customers increased by 6%.

The full year in figures

  • Net sales amounted to TSEK 6,899 (6,859).
  • The loss after tax amounted to TSEK 44,215 (42,464).
  • The loss per share amounted to SEK 2.66 (5.00).
  • The cash flow from current operations was negative in the amount of TSEK 37,482 (44,180). 
  • The gross margin increased to 52.0% (35.4%).
  • Electrode sales in volume decreased by 7% and reached 15,478 (16,704) units. Repeat sales of electrodes were at the same level as 2017.

Important events during the quarter

  • Sales on the company’s key market Germany increased by 41% in the quarter driven by system sales to new customers. 
  • A new German clinical guideline supported by Onkoderm was published. The guidelines support the use of Nevisense in the evaluation of lesions with suspicion of melanoma and also include a recommendation for reimbursement. 
  • SciBase and the Swiss Institute of Allergy and Asthma Research, Davos Switzerland (SIAF-SFI) announced the signing of a formal collaboration agreement within the area of barrier function testing using Electrical Impedance Spectroscopy (EIS). In addition the partners have jointly filed a patent application covering the use of electrical impedance testing for the evaluation of epithelial barrier function, potentially a unique tool to help address some of the most common disorders such as eczema, food allergy, allergic rhinitis and asthma.  
  • A new US study was published online in the Journal of the American Academy of Dermatology (JAAD) that showed good potential for Nevisense to improve clinical decision-making.
  • The Company participated in the Fall Clinical meeting in Las Vegas.
  • A nominating committee was appointed

Important events after the end of the period

  •  No significant events have occurred after the end of the period.
Oct 1 - Dec 31 Jan 1 - Dec 31
THE GROUP 2018 2017 2018 2017
Net sales, SEK ths 2 030 1 886 6 899 6 859
Gross margin, % 52,1% 31,5% 52,0% 35,4%
Equity/Asset ratio, % 88,1% 90,5% 88,1% 90,5%
Net indebtness, multiple 0,13 0,11 0,13 0,11
Cash equivalents, SEK ths 67 514 110 015 67 514 110 015
Cashflow from operating activities, SEK ths -9 990 -11 358 -37 482 -44 180
Earnings per share (before and after dilution), SEK -0,69 -1,13 -2,66 -5,00
Shareholder's equity per share, SEK 4,30 12,69 4,30 13,63
Average number of shares, 000' 16 618 9 118 16 618 8 493
Number of shares at closing of period, 000' 16 618 16 618 16 618 16 618
Share price at end of period, SEK 3,10 7,80 3,10 7,80
Number of sold electrodes, pieces 3 872 3 936 15 478 16 704
Average number of employees 19 20 19 21

This interim report has not been subject to review by the Company’s auditors.This information is information that SciBase Holding 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 below, at 12.15 CET on February 20, 2019.

Contact person: Michael Colérus, CFO. +46 70 341 34 72

For more information, please contact: 
Simon Grant, CEO SciBase 
Phone: +46 72 887 43 99 
Email: simon.grant@scibase.com

Certified Advisor: 
Avanza AB 
Phone: +46 8 409 421 20 
Email: corp@avanza.se

About SciBase and Nevisense

SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed a unique point-of-care device for the accurate detection of malignant melanoma. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and a FDA clearance in the United States. Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on Nasdaq First North (“SCIB”). Further information is available at www.scibase.com

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About Us

SciBase is a Swedish medical technology company founded in 1998 that has developed Nevisense, a point-of-care device for the accurate detection of malignant melanoma. Nevisense has emerged from more than 20 years of research at Karolinska Institute in Stockholm and at SciBase. The device is designed to be provide additional information when evaluating lesions with a suspicion of melanoma. Nevisense is based on a technology called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies. The CE-marked system consists of an electrode on a hand-held probe connected to a small portable device performing the analysis and displaying the result. A video describing the Nevisense method is available on: www.scibase.se/en/the-nevisenseproduct and further information is also available on www.scibase.com.

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