SciBase - Year-end Report

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SciBase

20 Feb, 2018, 07:15 GMT

STOCKHOLM, Feb. 20, 2018 /PRNewswire/ --

January 1 – December 31, 2017

The fourth quarter in figures

  • Net sales amounted to TSEK 1,886 (1,935).
  • The loss after tax amounted to TSEK 10,295 (14,623).
  • The loss per share amounted to SEK 1.13 (1.77).
  • The cash flow from current operations was negative in the amount of TSEK 11,358 (13,032).
  • The gross margin was 31.5% (35.0%).
  • Electrode sales in volume decreased by 30% and reached 3,936 (5,600) units. Repeat sales of electrodes decreased by 30%.

The full year in figures

  • Net sales amounted to TSEK 6,859 (6,436).
  • The loss after tax amounted to TSEK 42,464 (53,086).
  • The loss per share amounted to SEK 5.00 (6.41).
  • The cash flow from current operations was negative in the amount of TSEK 44,180 (47,850).
  • The gross margin was 35.4% (34.5%).
  • Electrode sales grew in total by 10% and reached 16,704 (15,200) units. Repeat sales of electrodes grew by 31%.

Important events during the quarter

  • The Company finalised a preferential share issue which, after deduction of estimated issue costs, provided the Company with approximately MSEK 66.
  • Nevisense was presented as one of the top ten most important news stories within skin cancer for dermatologists at the Fall Clinical Dermatology Conference in the US.
  • The first Nevisense system in the US was installed with the well-known key opinion leader Darrel S. Rigel, MD and Clinical Professor of Dermatology at the New York University Medical Center.
  • The first presentation of data in a scientific poster by a US center occurred as a poster at the Fall Clinical meeting by Dr Ryan Svoboda, a Clinical Research Fellow at the National Society for Cutaneous Medicine.
  • SciBase signed a distribution contract with Skin Care Sweden AB to sell to non-specialist clinics and pharmacies in Italy. The agreement included an initial order of approx. MSEK 0.5, which was delivered during Q4, and potential for an additional MSEK 0.5 order in 2018.
  • The first US commercial order for Nevisense was received from a private clinic focused on self-pay patients in New York.
  • In the period SciBase received the first order from a customer as a result of the co-operation with the German medical technology company DermoScan 
  • A nominating committee was appointed.
  • An extra general meeting was held on November 15th were a decision regarding a rights offering was made. The prospectus was published on November 20th.

Important events after the end of the period

  • No significant events have occurred after the end of the period.

 

Oct 1 - Dec 31

Jan 1 - Dec 31

 

THE GROUP

 

2017

 

2016

 

2017

 

 

2016

 

Net sales, SEK ths

 

1 886

 

1 935

 

6 859

 

 

6 436

 

Gross margin, %

 

31,5%

 

35,0%

 

35,4%

 

 

34,5%

 

Equity/Asset ratio, %

 

90,5%

 

90,8%

 

90,5%

 

 

90,8%

 

Net indebtness, multiple

 

0,11

 

0,10

 

0,11

 

 

0,10

 

Cash equivalents, SEK ths

 

110 015

 

84 955

 

110 015

 

 

84 955

 

Cashflow from operating activities, SEK ths

 

-11 358

 

-13 032

 

-44 180

 

 

-47 850

 

Earnings per share (before and after dilution), SEK

 

-1,13

 

-1,77

 

-5,00

 

 

-6,41

 

Shareholder's equity per share, SEK

 

12,69

 

11,19

 

13,63

 

 

11,19

 

Average number of shares, 000'

 

9 118

 

8 285

 

8 493

 

 

8 285

 

Number of shares at closing of period, 000'

 

16 618

 

8 285

 

16 618

 

 

8 285

 

Share price at end of period, SEK

 

7,80

 

19,00

 

7,80

 

 

25,20

 

Number of sold electrodes, pieces

 

3 936

 

5 600

 

16 704

 

 

15 200

 

Average number of employees

 

20

 

23

 

21

 

 

21

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on February 20, 2018.

This interim report has not been subject to review by the Company's auditors.

Contact person:

Michael Colérus, CFO

For more information, please contact:
Simon Grant, CEO SciBase
Phone: +46 72 887 43 99
Email: simon.grant@scibase.com

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 now also a 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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SOURCE SciBase