Interim report

January 1 – September 30, 2020

The third quarter in figures

  • Net sales amounted to TSEK 2,287 (1,940).
  • The loss after tax amounted to TSEK 7,350 (9,868).
  • The loss per share amounted to SEK 0.20 (0.59).
  • The cash flow from current operations was negative in the amount of TSEK 6,974 (10,264).
  • The gross margin reached 52.7% (53.4%).
  • Electrode sales volume increased by 46% and reached 6,924 (4,752) units. Repeat sales of electrodes to existing customers increased by 57%.

The first nine months in figures

  • Net sales amounted to TSEK 6,466 (6,476).
  • The loss after tax amounted to TSEK 25,150 (29,387).
  • The loss per share amounted to SEK 0.99 (1.77).
  • The cash flow from current operations was negative in the amount of TSEK 23,571 (29,114).
  • The gross margin reached 54.0% (53.1%).
  • Electrode sales volume increased by 10% and reached 18,194 (16,544) units. Repeat sales of electrodes to existing customers increased by 10%.

Important events during the quarter

  • The Covid-19 pandemic has affected SciBase from the end of Q1. There was a recovery in sales levels in Q3 due to good electrode sales to existing customers, but system sales remain affected. Sales in the company’s key market Germany increased by 23% while overall sales increased by 18% in the quarter. It is however difficult to predict how Covid-19 will affect sales and Group activities going forward.
  • Nevisense was selected for ‘SpotCheck’ remote melanoma detection evaluation study by The Ronald O. Perelman Department of Dermatology at NYU Langone Health in New York

Important events after the end of the period

  • SciBase announced the outcome of the exercise of warrants of series TO1. In total, 91.4% of the warrants were subscribed for to the set subscription price of SEK 1.75.
  • Nevisense Go, SciBase's next generation handheld device, was released at the end of October. The first version of Nevisense Go will be used to assess skin barrier function by researchers and industrial partners.
  • SciBase was granted a Category III CTP® code for the Nevisense melanoma detection test in the US
  • Two US studies showing improved detection of melanoma by clinicians with Nevisense were published in leading US journals. The studies compared the evaluation of atypical, pigmented skin lesions using visual evaluation alone to visual evaluation plus Nevisense.
  • Nevisense was included in infant study at Mount Sinai Hospital in New York. Nevisense will be used to measure skin properties including barrier function and evaluate whether these measurements can help predict the development of allergies or monitor their progress.
  • Linn Olsen, SciBase’s head of production and supply chain, has been appointed as a member of the management team.
Oct 1 2019 -
  July 1 - Sep 30 Jan 1 - Sep 30 Sep 30 2020 Jan 1 - Dec 31
THE GROUP 2020 2019 2020 2019 Rolling-12 2019
Net sales, SEK ths 2 287 1 940 6 466 6 476 9 266 9 276
Gross margin, % 52,7% 53,4% 54,0% 53,1% 55,2% 54,5%
Equity/Asset ratio, % 67,0% 73,4% 67,0% 73,4% 70,8% 69,4%
Net indebtness, multiple 0,49 0,36 0,49 0,36 0,41 0,44
Cash equivalents, SEK ths 21 724 35 917 21 724 35 917 21 724 26 456
Cashflow from operating activities, SEK ths -6 974 -10 264 -23 571 -29 114 -32 413 -37 956
Earnings per share (before and after dilution), SEK -0,20 -0,59 -0,99 -1,77 -1,93 -2,38
Shareholder's equity per share, SEK 0,71 2,53 1,02 2,53 1,46 1,93
Average number of shares, 000' 36 560 16 618 25 481 16 618 23 265 16 618
Number of shares at closing of period, 000' 36 560 16 618 36 560 16 618 36 560 16 618
Share price at end of period, SEK 4,00 5,25 4,00 5,25 4,00 4,36
Number of sold electrodes, pieces 6 924 4 752 18 194 16 544 25 374 23 724
Average number of employees 16 18 16 18 17 18

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 08.00 CET on November 12, 2020.

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: ca@avanza.se

 

About SciBase and Nevisense
SciBase AB is a global medical technology company based in Stockholm, Sweden that develops unique point-of-care devices for the evaluation of skin disorders such as skin cancer and atopic dermatitis. SciBase’s first product, Nevisense, helps clinicians detect melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and non-melanoma skin cancer. 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 an FDA approval (PMA) in the United States. SciBase technology is based Electrical Impedance Spectroscopy (EIS) combined with Artificial Intelligence (AI) algorithms that interpret the varying electrical properties of human tissue to detect malignancies and abnormalities. SciBase Holding AB is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.

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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