SciBase, Interim

SciBase: (STO:SCIB)

14.11.2016 - 08:41:37

SciBase: Interim Report

· The loss after tax amounted to TSEK 12,395 (10,260).

· The loss per share amounted to SEK 1.50 (1.24).

· The cash flow from current operations was negative in the amount of TSEK 10,459 (9,669).

· Significant margin improvement with gross margin increasing to 44.6% in Q3 (17.6%).

The first nine months in figures

· Total net sales amounted to TSEK 4,501 (2,970).

· The loss after tax amounted to TSEK 38,463 (30,378).

· The loss per share amounted to SEK 4.64 (4.71).

· The cash flow from current operations was negative in the amount of TSEK 34,818 (32,724).

· Significant margin improvement with gross margin increasing to 34.3% (-3.8%).

Important events during the quarter

· A milestone was passed on the German market as the 100th customer bought and installed a Nevisense device. Our primary market Germany continues to show good growth with total sales up by 67% and electrode sales volume up by 118% in the quarter.

· In the period SciBase introduced its new product – Nevisense View – combining SciBase’s patented electrical impedance spectroscopy (EIS) for early detection of malignant melanoma with visual information from digital dermoscopy, creating a complete instrument that improves and simplifies the diagnostic process.

· In the period a new Australian study was presented, which showed that by using Nevisense, it is possible to reduce the number of cases that require digital dermoscopy follow-up by almost half. In addition Nevisense detected most melanoma three months earlier than traditional methods. The study consisted of 118 patients with 160 lesions, and the results were presented for the first time at the World Congress on Cancers of the Skin in Vienna on September 1.

· Significant resources allocated during the quarter on the PMA-process, with continued progress. Ongoing work to provide replies to feedback from the FDA within several areas. We have passed the inspection phase and no additional clinical data have been requested so far.

Important events after the end of the period

· A nominating committee has been appointed for the AGM 2017.

Financial overview

                   

 

      July 1 - Sep 30 Jan 1 - Sep 30

Oct 1 2015 -

Sep 30 2016

Jan 1 - Dec 31

THE GROUP 2016 2015 2016 2015 Rolling-12 2015 Net sales, SEK ths 1 580 995 4 501 2 970 5 682 4 151 Gross margin, % 44,6% 17,6% 34,3% -3,8% 31,0% 2,5% Equity/Asset ratio, % 91,3% 94,2% 91,3% 94,2% 91,3% 95,1% Net indebtness, multiple 0,09 0,06 0,09 0,06 0,09 0,05 Cash equivalents, SEK ths 98 272 147 661 98 272 147 661 98 272 133 736 Cashflow from operating activities, SEK ths -10 459 -9 669 -34 818 -32 724 -48 682 -46 588 Earnings per share (before and after dilution), SEK* -1,50 -1,24 -4,64 -4,71 -5,99 -6,01 Shareholder's equity per share, SEK* 12,96 18,93 12,96 24,31 12,96 21,09 Average number of shares, 000'* 8 285 8 285 8 285 6 451 8 285 6 910 Number of shares at closing of period, 000'* 8 285 8 285 8 285 8 285 8 285 8 285 Share price at end of period, SEK 25,20 30,80 25,20 30,80 25,20 31,00 Average number of employees 22 15 21 14 18 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.

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