SciBase: Interim Report

STOCKHOLM, Aug. 21, 2018 /PRNewswire/ -- January 1 – June 30, 2018

The second quarter in figures

• Net sales amounted to TSEK 1,571 (2,046)
• The loss after tax amounted to TSEK 10,298 (11,746)
• The loss per share amounted to SEK 0.62 (1.42). 
• The cash flow from current operations was negative in the amount of TSEK 10,119 (11,044).
• The gross margin was 58.2% (34.2%).
• Electrode sales in volume decreased by 18% and reached 4,304 (5,232) units. Repeat sales of electrodes decreased by 7%.

The first half-year in figures

• Net sales amounted to TSEK 3,510 (3,801).
• The loss after tax amounted to TSEK 19,955 (23,358). The loss per share amounted to SEK 1.20 (2.82).
• The cash flow from current operations was negative in the amount of TSEK 19,801 (23,025). 
• The gross margin was 51.7% (30.6%).
• Electrode sales in volume decreased by 10% and reached 8,438 (9,328) units. Repeat sales of electrodes increased by 5%.

Important events during the quarter

•  In the period SciBase presented major improvements to Nevisense. The key improvement is the elimination of the need for a reference measurement, which up until now has been the most complex part of the Nevisense test. Removing this streamlines the measurement procedure and makes Nevisense straightforward to learn and use. This is a very important improvement in usability and makes the product much easier to integrate into the patient flow at dermatology clinics. 
• The AGM 2018 was held on May 16th, 2018 
•  The first Nevisense article by US researchers was published by Svoboda, Rigel et al. in SKIN, The journal of cutaneous medicine

Important events after the end of the period

•  The FOBI meeting in Munich in July was the first meeting where the improved Nevisense was presented. Prof Axel Hauschild presented Nevisense in a workshop with nearly 100 attendees.

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 August 21, 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