Lower costs from the fourth quarter and EU grant of
Third quarter,
- Net sales amounted to
SEK 4,835k (4,289k). - Operating result (EBIT) amounted to
SEK -2,999k (-2,884k). - Net result for the period amounted to
SEK -2,758k (-2,899k). - Earnings per share amounted to
SEK -0.68 (-0.72). Earnings per share after dilution amounted toSEK -0.68 (-0.72). - Cash flow from operating activities amounted to
SEK -4,742k (-3,863k). - Net cash flow amounted to
SEK -10,811k (-14,211k). - Submission of the technical file for
Qlucore Diagnostics including clinical results. - Lower costs of approximately
SEK 2 million on a quarterly basis starting in the fourth quarter. - After the reporting period. On
February 27 ,Qlucore received notification of a prestigious grant from the EU ofSEK 27 million to accelerate clinical cancer diagnostics.
First nine months,
- Net sales increased to
SEK 11,152k (10,074k). - Operating result (EBIT) amounted to
SEK -11,821k (-11,977k). - Net result for the period amounted to
SEK -11,013k (-11,880k). - Earnings per share amounted to -2.73
(-2.95) SEK . Earnings per share after dilution amounted to -2.73(-2.95) SEK . - Cash flow from operating activities amounted to
SEK -14,755k (-9,545k). - Net cash flow amounted to
SEK -34,742k (-27,002k). - Liquid funds amounted to
SEK 34,938k on the closing day.
CEO’s statement
During the third quarter, we passed several important milestones and stepped closer to launching a product for clinical use in the precision diagnostics of leukemia. Our solution enables the classification of subgroups within cancer diagnostics, which can lead to more effective treatment.
We have submitted the technical documentation to the Notified Body, following an intensive period which has entailed extensive development efforts and related costs. We are now entering a phase with lower costs.
On
This quarter, our solution, Qlucore Insights, which has already been used in clinical research for leukemia, has been sold to
The submission of the technical documentation is a significant step towards the launch and sale of
CE marking according to the IVDR regulations for medical devices is a requirement for use in diagnostics in healthcare. The estimated time of regulatory approval (CE marking) for childhood acute lymphoblastic leukemia (BCP-ALL) is
Net sales in the third quarter amounted to
Cancer diagnosis
The submission of the technical file enables us to shift our development focus to lung cancer, bladder cancer and acute myeloid leukemia in adults (AML). All these cancers represent strategically important therapeutic areas with a great medical need for improved diagnostics. The degree of reuse for future models is significant and together with the priorities and optimizations now implemented, we expect significantly lower costs next business year (24/25). In the coming quarters, we expect our costs to drop by close to
The development takes place together with partners. Models for childhood acute lymphoblastic leukemia (BCP-ALL) and the three other areas are available for use in the Qlucore Insights product. The pediatric acute lymphoblastic leukemia model has already been sold to several customers.
Global landscape
Global uncertainty with the deteriorating geopolitical situation and the deteriorating economy, has not affected operations during the period, as far as we can judge. Furthermore, we have noted a growing trend for redundancies in the technology sector, in areas such as biotech, especially in the
In
I am very pleased to report that we have passed a significant milestone with the submission of the complete technical file for
CEO
[1] EU regulation 2017/746 on in vitro diagnostic medical devices (IVDR).
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