IR Press releases 2022-05-19

Gradientech: Interim report January 1 – March 31, 2022

Gradientech AB (publ) interim report for Q1 2022 is now available on the company's website

First quarter January-March 2022

  • Net sales amounted to 0 KSEK (0 KSEK).
  • Net profit amounted to SEK -15,171 KSEK (-9,969 KSEK).
  • Earnings per share before dilution were SEK -1.04 (SEK -0.82).
  • Earnings per share after dilution were SEK -0.99 (SEK -0.82).
  • Cash flow from operating activities amounted to -14,886 KSEK (-14,702 KSEK).
  • Cash and cash equivalents on the balance sheet date amounted to 74,033 KSEK (55,612 KSEK).
  • Equity as of March 31 amounted to 78,598 KSEK (65,791 KSEK).
  • The new share issue that as of December 31, 2021 was classified as ongoing was registered with the Swedish Companies Registration Office on February 2, 2022 and increased the number of shares by 3,768,370 and the share capital by SEK 376,837. After the issue and at the end of the first quarter of 2022, the share capital amounted to SEK 1,597,419.30 and the number of shares to 15,974,193.
  • Clinical study of QuickMIC and its gram-negative panel began in January. In addition to the company, the study includes a total of three external clinical partners.
  • The company signed manufacturing agreements with the contract manufacturers of instruments and cassettes in the QuickMIC system.
  • Peter Karlberg joined as VP Sales with responsibility for sales and the commercial organization.

Significant events after the end of the quarter

  • Urban Adolfsson joined as the new CFO and Hans Richter ended his assignment as interim CFO.
  • Elisabet Nielsen joined as new member of the Scientific Advisory Board.
  • In April, Gradientech exhibited at ECCMID 2022 in Lisbon, the world’s leading congress for both industry and clinics in infectious diseases and clinical microbiology.
  • The part of the clinical study that is intended to be used for the certification of QuickMIC according to the IVD directive was completed. The study showed performance results in excess of the regulatory requirements for a new antibiotic resistance testing system, as well as the shortest average time to resistance response compared to competing systems on the market.

For more information please contact:
Sara Thorslund, PhD, CEO Gradientech
Tel: +46 736 29 35 80