Year-end report
January 1 – December 31, 2015
The fourth quarter in figures
- Total net sales amounted to TSEK 1 181 (460), +157%.
- The loss after tax amounted to TSEK 11,154 (10,256).
- The loss per share amounted to SEK 1.35 (2.06).
- The cash flow from current operations was negative in the amount of TSEK 13,864 (9,290).
The full year in figures
- Total net sales amounted to TSEK 4,151 (1,600), +159%.
- The loss after tax amounted to TSEK 41,532 (38,755).
- The loss per share amounted to SEK 6.01 (7.78).
- The cash flow from current operations was negative in the amount of TSEK 46,588 (37,077).
Important events during the quarter
- In the period, SciBase submitted the premarket approval (PMA) application for Nevisense to the FDA (US Food and Drug Administration). FDA has now accepted the application (according to press-release in January 2016) and is now moving on to the evaluation phase. The PMA is the FDA’s most rigorous process for approval of new medical devices for the US market and is required for most class III devices. Class III devices are usually based on a new method that has not been approved by the FDA yet. Due to the complex and resource-intensive process only about 30 companies per year apply for a PMA. If successful, SciBase will be one of only a handful Swedish companies that have completed the PMA process.
Important events after the end of the period
- After the end of the period a change in the Company’s board of directors was communicated. 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.
Financial overview
| Oct 1 - Dec 31 | Jan 1 - Dec 31 | |||||
| THE GROUP | 2015 | 2014 | 2015 | 2014 | ||
| Net sales, SEK ths | 1 181 | 460 | 4 151 | 1 600 | ||
| Gross margin, % | 18,4% | -41,5% | 2,5% | -36,0% | ||
| Equity/Asset ratio, % | 95,1% | 78,5% | 95,1% | 78,5% | ||
| Net indebtness, multiple | 0,05 | 0,27 | 0,05 | 0,27 | ||
| Cash equivalents, SEK ths | 133 736 | 27 566 | 133 736 | 27 566 | ||
| Cashflow from operating activities, SEK ths | -9 669 | -9 290 | -46 588 | -37 077 | ||
| Earnings per share (before and after dilution), SEK* | -1,35 | -2,06 | -6,01 | -7,78 | ||
| Shareholder's equity per share, SEK* | 17,59 | 6,55 | 21,09 | 6,55 | ||
| Average number of shares, 000'* | 8 285 | 4 985 | 6 910 | 4 984 | ||
| Number of shares at closing of period, 000'* | 8 285 | 4 985 | 8 285 | 4 985 | ||
| Average number of employees | 15 | 11 | 14 | 12 | ||
| *Adjusted for in May 2015 performed reversed split, 40:1 | ||||||
Simon Grant, CEO, tel : +46 72 887 43 99
Michael Colérus, CFO, tel : +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 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 February 19, 2016.