Senzime’s Interim report January – June 2020
Press release: Uppsala, August 21, 2020. Senzime AB’s (publ) Interim report for January – June 2020 is now available on the company’s website www.senzime.com
PM Senzime Interim Report Q2 2020
Financial information for the second quarter 2020
- Net sales amounts to KSEK 1,158 (1,218)
- Income after financial items amounts to KSEK -13,342 (-9,153)
- Earnings per share before dilution amounts to SEK -0.22 (-0.17)
Financial information January-June 2020
- Net sales amounts to KSEK 3,747 (1,603)
- Income after financial items amounts to KSEK -22,751 (-18,663)
- Earnings per share before dilution amounts to SEK -0.39 (-0.35)
Covid-19 has so far led to the delay of approximately 30 million surgeries worldwide. Many patients in need of surgery are affected by the temporary adjustment of care. Healthcare is now facing major challenges to quickly catch up with the large backlog of surgeries. The demand for solutions that help to increase patient flows, and at the same time reduce the risk of complications with extra care time as a result has accelerated.
Senzime is leading the digital transformation of neuromuscular monitoring in the operating room. The TetraGraph® system ensures the correct drug dosage and the time when the patient can breathe on their own and can safely leave the operating room without the risk of breathing-related complications. Senzime’s products can thus help increase patient flows and reduce drug costs.
During the quarter, we accelerated our investments in the US market. Additional recruitments were made in a market with access to strong expertise and a great interest in Senzime. The recruitments are in line with our strategy of direct sales in hospital-dense states. At the same time, we have signed distribution agreements with two well-established players specialized in the field of anesthesia. However, the strategy with a large share of own direct sales remains unchanged.
In Europe, we moved our positions forward during the quarter, primarily in the United Kingdom, Switzerland and Italy. In Australia, sales of TetraGraph® are increasing despite being hit hard by Covid-19.
We have noted a continued positive global trend around the transition to digital monitoring of patients undergoing anesthesia. Our sales temporarily slowed during the second quarter in line with the market, but we also noted a clear increase in demand during May and June. We believe that the positive trend remains.
The medical technology industry is now facing a technological change where sales processes are increasingly becoming virtual. As a natural step, Senzime, in collaboration with the highly regarded Anesthesia Patient Safety Foundation (APSF), held a series of webinars with world-leading anaesthesiologists with the message to move to digital and objective monitoring.
In order to give us the conditions to further and long-term accelerate our investments in the US, Europe and Asia, we carried out a directed new share issue at the beginning of the quarter, adding SEK 73.5 million before issue costs. The issue was directed without discount to the Fourth AP Fund, Swedbank Robur Microcap, TIN Fonder, Danske Invest Småbolagsfond, Handelsbanken Fonder, Länsförsäkringar Fonder and ÖstVäst Capital Management.
I am very proud of my team that is pushing for the digital transition for increased patient safety as the world now gradually returns to a new normal level.
Uppsala, August 2020
Pia Renaudin, CEO of Senzime AB (publ)
For further information, please contact:
Pia Renaudin, CEO of Senzime AB
Phone: +46 70-813 34 17, e-post: pia.renaudin@senzime.com
Erik Bergman, CFO
Phone: +46 73-58 81 59, e-mail: erik.bergman@senzime.com
TO THE EDITORS
About Senzime
Senzime develops and markets systems, driven by unique algorithms and sensors, to follow patients ' nervous systems and electrical impulses – before, during and after surgery. The company's solution is called TetraGraph, a medical technology system that digitally and continuously measures the degree of neuromuscular blockade in the patient. The goal is improved clinical precision and simplified management in healthcare. By preventing complications and enabling healthcare professionals to follow health care guidelines and drug recommendations, TetraGraph contributes to shorter hospitalizations and lower health care costs – in a world where everyone wakes up safely after surgery. The vision is a world without narcotics-related complications. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 10 billion. The company's shares are listed on Nasdaq First North Growth Market (ticker SEZI). FNCA Sweden AB, +46 (0)8-528 00 399, info@fnca.se, is Certified Adviser for Senzime. www.senzime.com
This information is insider information that Senzime 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 above, on August 21, 2020, 08:45.