Quarter 3 (1 January - 30 June 2022 compared with 1 July - 30 September 2022 ) summarized- Net sales amounted to 109 (0) TSEK.
-
Net revenue amounted to 110 (426) TSEK.
-
EBITDA (earnings before interest, taxes, depreciation, and amortization) amounted to -7 175 (-3 613) TSEK.
-
Cash flow from current operations in the quarter amounted -8 526 (-3 831).
-
Total cash flow for the period amounted to 10 627 (18 888) TSEK.
-
Earnings per share amounted to -0,35
(-0,25) SEK .
Year to date (1 January - 30 September 2022 compared with prior year to date 1 January 2021 - September 2021 ) summarized- Net sales amounted to 378 (10) TSEK.
-
Net revenue amounted to 378 (1 787) TSEK.
-
EBITDA (earnings before interest, taxes, depreciation, and amortization) amounted to -19 113 (-9 748) TSEK.
-
Cash flow from current operations in the quarter amounted -19 844 (-10 697) TSEK.
-
Total cash flow for the period amounted to -891 (10 697) TSEK.
-
Earnings per share amounted to -0,92
(-0,65) SEK .
- Net sales amounted to 378 (10) TSEK.
- Net revenue amounted to 378 (1 787) TSEK.
- EBITDA (earnings before interest, taxes, depreciation, and amortization) amounted to -19 113 (-9 748) TSEK.
- Cash flow from current operations in the quarter amounted -19 844 (-10 697) TSEK.
- Total cash flow for the period amounted to -891 (10 697) TSEK.
-
Earnings per share amounted to -0,92
(-0,65) SEK .
Significant events during the Third Quarter
Strengthened commercial organization
Improved availability for laboratories
In collaboration with
Strong results for Prostatype® in Asian pilot study
The recent study was conducted in
Outcome of rights issue of units
The Company's rights issue of units was closed on
Events after the balance day
Changes in the sales organization and updated sales forecast
The company notes that progress has been made in the designated target markets. In collaboration with local clinics, we are now building up the routines and processes that are necessary for Prostatype® to be used routinely in each market in a simple way. Innovations such as Prostatype give healthcare completely new opportunities, while initially challenging existing routines and established processes, which is why the sales trend is slightly shifted forward at a time when healthcare needs time to adapt. To strengthen the development,
New CTO
On
CEO comments
Positive momentum
During the third quarter, we have taken several measures to intensify the commercialization process, and we are now experiencing positive signals in several markets, although we naturally would like to see faster decision-making processes within certain parts of the healthcare systems. The key thing, however, is that we get confirmation from our customers that Prostatype® fulfils the existing clinical need and that sales have started to come in, albeit still at low levels. The fact that the healthcare system sees the added value of Prostatype® so clearly that they want to introduce the product into clinical routine in order to more effectively stratify patients diagnosed with prostate cancer is of course crucial to further marketing.
Sales and market development
We can already state that full year sales for 2022 will not reach the expectations we had at the beginning of the year. During the quarter, the Company had a turnover of around 0.1 MSEK, which means that we have reached a turnover of around 0.4 MSEK during the three first quarters of the year. However, we are in a positive trend in terms of sales, and it is obvious that we are making concrete progress. In total, we have acceptance from more than 100 clinics/healthcare facilities that will begin their own evaluation of Prostatype®, which is very gratifying. Of these, about 20 units have already completed their validation with good results. A further 30 or so units are currently in the middle of the evaluation phase. To this must be added another 50 or so units that are about to start their evaluation of Prostatype.
Of the 20 or so healthcare facilities that have already completed their evaluation, all have expressed a wish to work with Prostatype® in clinical routine. A better rating is difficult to achieve, and it clearly shows the potential Prostatype® possesses, which will result in a continued sales growth.
It is also gratifying to note that healthcare is increasingly turning directly to
To put things into perspective, there are around 23,000 urologists active in the target markets we work with within EMEA. An average urologist specializing in prostate cancer sees approximately 80 newly diagnosed patients each year. Roughly 50 of these patients have a low or intermediate risk, which is the patient group where Prostatype® provides the most benefit. Concretely, this means that globally we only need to have 150 urologists using Prostatype® routinely for us to break even. This means a penetration rate of less than 1% and shows the very interesting financial possibilities an investment in
To be able to respond even better to our customers' expectations, it is a pleasure to welcome Mats Bergström and
US
Another very interesting region is of course the
New opportunities to use Prostatype® locally strengthen our offering
One of the major commercial and scientific strengths of Prostatype® is the simplicity of performing the test, enabling most qualified testing laboratories to perform it locally. To open up for even more testing laboratories to be able to use Prostatype®, we have executed an extensive process to validate laboratory kits as well as instruments for RNA amplification from a number of different suppliers. The validation process was carried out together with the
In summary, we are well positioned for the fourth quarter of this year and above all for the full year of 2023 when we will be able to seriously begin to reap the rewards of all the hard work that has been put in during the current year and I look forward to sharing continued progress with you.
A big thank you to all shareholders for all the interest and support you show the company. It means a lot to us who work and live with
CEO,
Solna 10 November
This disclosure contains information that
Press contact
nicklas.rosendal@prostatypegenomics.com
Certified Advisor
Prostatype® is a genetic test that is available to patients and treating urologists as a complementary decision basis for the question of treatment or non-treatment of prostate cancer. The test was developed by a research group at
https://news.cision.com/prostatype-genomics-ab/r/prostatype-genomics-presents-quarterly-report,c3664608
https://mb.cision.com/Main/16900/3664608/1661124.pdf
(c) 2022 Cision. All rights reserved., source