Interim Report
January 1 – March, 2016
The first quarter in figures
- Total net sales amounted to TSEK 1,066 (1,057).
- The loss after tax amounted to TSEK 11,600 (9,179).
- The loss per share amounted to SEK 1.40 (1.84).
- The cash flow from current operations was negative in the amount of TSEK 11,247 (9,197).
- Significant margin improvement with gross margin increasing to 26.3% in Q1 (2.6% Q1 15).
Important events during the quarter
- SciBase’s PMA application was accepted on January 14th as complete starting the formal evaluation process by the FDA. There has been a high level of interaction between SciBase and the FDA during and continuing after the first quarter.
- Continued good growth in key market Germany with total sales up 20% and electrode sales volume up 49%.
- SciBase has signed a distribution agreement for Switzerland with CDP SWISS AG. The sales and marketing effort of SciBase’s melanoma detection product Nevisense will initially focus on the nearly 400 dermatologists that work in private clinics in Switzerland.
- A change in the Company’s board of directors was communicated as Viktor Dvrota, as a result of his appointment as Head of Investment at Karolinska Development, has resigned from SciBase’s Board of Directors. Alternate director Andreas Pennervall will take his place.
Important events after the end of the period
- On April 25th, the Annual Report for 2015 was published.
| Apr 1 2015 - | ||||||
| Jan 1 - Mar 31 | Mar 31 2016 | Jan 1 - Dec 31 | ||||
| THE GROUP | 2016 | 2015 | Rolling-12 | 2015 | ||
| Net sales, SEK ths | 1 066 | 1 057 | 4 160 | 4 151 | ||
| Gross margin, % | 26,3% | 2,6% | 8,5% | 2,5% | ||
| Equity/Asset ratio, % | 94,4% | 73,0% | 94,4% | 95,1% | ||
| Net indebtness, multiple | 0,06 | 0,37 | 0,06 | 0,05 | ||
| Cash equivalents, SEK ths | 122 241 | 17 313 | 122 241 | 133 736 | ||
| Cashflow from operating activities, SEK ths | -11 247 | -9 197 | -48 638 | -46 588 | ||
| Earnings per share (before and after dilution), SEK* | -1,40 | -1,84 | -5,68 | -6,01 | ||
| Shareholder's equity per share, SEK* | 16,19 | 4,71 | 17,34 | 21,09 | ||
| Average number of shares, 000'* | 8 285 | 4 985 | 7 735 | 6 910 | ||
| Number of shares at closing of period, 000'* | 8 285 | 4 985 | 8 285 | 8 285 | ||
| Share price at end of period, SEK | 23,50 | - | 23,50 | 31,00 | ||
| Average number of employees | 18 | 14 | 15 | 14 | ||
| *Adjusted for in May 2015 performed reversed split, 40:1 | ||||||
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 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 is awaiting 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. SciBase is listed on Nasdaq First North (“SCIB”). Avanza is the certified advisor. Further information is available on www.scibase.com.
SciBase Holding AB is required to disclose the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8 am on May 13, 2016.
For further information please contact:
Simon Grant, CEO, tele : 46 72 887 43 99
Michael Colérus, CFO, tele : 46 70 341 34 72
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