SciBase: Interim report

STOCKHOLM, May 31, 2024 /PRNewswire/ — January 1 -March 31, 2024

The first quarter in figures

Net sales were TSEK 6,057 (5,149), +18%.The loss after tax was TSEK 10,861 (10,906).The loss per share was SEK 0.09 (0.15).The cash flow from current operations was negative in the amount of TSEK 13,182 (3,751).The gross margin was 69.9% (68.7%).Electrode sales volume increased by 18% and was 13,724 (11,614) units. Repeat sales of electrodes to existing customers increased by 19%.

Important events during the quarter

Overall sales increased by 18% (+17, before currency effects). Sales in Germany within the skin cancer segment increased by 15% (15% in local currency).  Sales in the US skin cancer market increased by 67% while the sales within the skin barrier segment decreased by 15%.The first direct comparison between electrical impedance spectroscopy (EIS) using Nevisense and trans-epidermal water loss (TEWL) was published in the scientific journal Annals of Dermatology. The study demonstrates Nevisense as a more robust technique to assess skin barrier function than the commonly accepted TEWL measurement technique. The authors concluded that EIS (Nevisense) can assess skin barrier function with less sensitivity to confounding lifestyle factors than TEWL.SciBase initiated a partnership with Skinobs, a leading global platform connecting researchers with the tools they need for their cosmetic and medical research. Through this partnership, SciBase will now offer Nevisense for assessing skin barrier function within cosmetic testing on the Skinobs platform.

Important events after the end of the  period

SciBase resolves on a directed issued of approximately SEK 33 million and a rights issue of approximately SEK 15 million and postponed the Annual General Meeting and publication of the interim report for the first quarter of 2024.SciBase published a prospectus and the summons to an EGM and the AGM.SciBase announced a new partnership with Al Shirawi Healthcare solutions for distribution of Nevisense in the UAE.SciBase published the outcomes in the directed issue, were MSEK 33 were subscribed for and in the rights offering were MSEK were subscribed for corresponding to a subscription rate of 61%.New German study shows Nevisense significantly improves dermatologists’ clinical decisions.SciBase Announces the launch of eBarrier Score, the First AI-Driven Skin Barrier Assessment tool for research and Cosmetic Testing.SciBase receives first order in Austria.

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on May 31, 2024.

This year-end report has not been subject to review by the Company’s auditors

Contact person:
Michael Colérus, CFO, +46 70 341 34 72

For more information, please contact: 
Pia Renaudin, CEO SciBase Tel: +46 73 206 98 02 Email: pia.renaudin@scibase.com

Certified Advisor (CA):
Vator Securities
Tel: +46 8 580 065 99
Email: ca@vatorsec.se

About SciBase
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.

Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.

Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.

The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. 
All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases

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