Interim Report SciBase Jan 1 - Mar 31 2015
The quarter in figures
- Total net sales amounted to TSEK 1,057 (64).
- The loss after tax amounted to TSEK 9,179 (9,012).
- The loss per share amounted to SEK 0.05 (0.05).
- The cash flow from current operations was negative in the amount of TSEK 9,197(10,250).
Important events during the quarter
- The wholly owned subsidiary SciBase GmbH was formed with the aim of strengthening the Group’s sales and marketing focus in Germany.
- Tobias Bergenblad was appointed as the new Global Sales Manager.
- Patents granted in Australia and Japan.
Important events after the end of the period
- In April, SciBase established a Scientific Advisory Board consisting of international experts in the field of skin cancer.
- In April, an exclusive distributor agreement for the Austrian market was signed with Intramed Handels GesmbH.
- In April, SciBase announced its intention to launch an Initial Public Offering and listing on Nasdaq First North.
- At an Extraordinary General Meeting on April 28, resolutions were taken to:
- introduce a share-based incentive program,
- consolidate shares and reduce the share capital,
- authorize the Board to make decisions regarding new share issues.
”During the first quarter of 2015, we have started to see the results of SciBase’s transformation into a more sales-focused company. Our sales have increased significantly during the first quarter and this is mainly due to a growing usage in our key market Germany. An important driver for the increased acceptance of Nevisense has been the publication of our pivotal clinical trial in the British Journal of Dermatology, which validated our product, and was the largest study of its kind. With Nevisense, we address many of the challenges within health care related to the detection of malignant melanoma,” says Simon Grant CEO of SciBase.
Financial overview
| Jan 1 - Mar 31 | Jan 1 - Dec 31 | |||
| THE GROUP | 2015 | 2014 | Apr 1 2014 - Mar 31 2015 Rolling-12 | 2014 |
| Net sales, SEK 000' | 1 057 | 64 | 2 593 | 1 600 |
| Gross margin, % | 2,6% | -15,6% | -20,8% | -36,0% |
| Equity/Asset ratio, % | 73,0% | 91,7% | 73,0% | 78,5% |
| Net indebtness, multiple | 0,37 | 0,09 | 0,37 | 0,27 |
| Cash equivalents, SEK 000' | 17 313 | 55 906 | 17 313 | 27 566 |
| Cashflow from operating activities, SEK 000' | -9 197 | -10 250 | -36 024 | -37 077 |
| Earnings per share (before and after dilution), SEK | -0,05 | -0,05 | -0,20 | -0,19 |
| Shaeholder's equity per share, SEK | 0,12 | 0,32 | 0,12 | 0,16 |
| Average number of shares, 000' (before and after dilution) | 199 391 | 199 288 | 199 391 | 199 365 |
| Number of shares at closing of period, 000' | 199 391 | 199 391 | 199 391 | 199 391 |
| Average number of employees | 14 | 11 | 12 | 12 |
Simon Grant, CEO, tele : +46 72 887 43 99
Michael Colérus, CFO, tele : +46 70 341 34 72
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 technology called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies. Further is available on www.scibase.com.