2022-02-25

Year-end report 2021

Gradientech AB (publ) year-end report for 2021 is now available on the company's website www.gradientech.se.

Fourth quarter October-December 2021

  • Net sales amounted to 0 KSEK (24 KSEK).
  • Net profit amounted to -17,860 KSEK (-10,036 KSEK).
  • Earnings per share were SEK -1.46 (SEK -1.03).
  • Cash flow from operating activities amounted to -17,288 KSEK (-9,876 KSEK).
  • Cash and cash equivalents on the balance sheet date amounted to 14,724 KSEK (71,154 KSEK).
  • Equity as of December 31 amounted to 93,770 KSEK (75,760 KSEK).
  • The annual external audit (bsi) of the company’s ISO13485-certified quality management system was conducted in October without deviations. The next external review will take place in October 2022.
  • Regulatory system verification of the QuickMIC system has been initiated.
  • Within the authorization of the Annual General Meeting, a rights issue of 3,768,370 shares was carried out in December at a price of SEK 20.50 per share, which added approximately SEK 73.3 million after issue expenses. After the issue, the share capital amounts to SEK 1,597,419.3 and the number of shares to 15,974,193.

The period January-December 2021

  • Net sales amounted to 141 KSEK (61 KSEK).
  • Net profit amounted to -53,317 KSEK (-33,218 KSEK).
  • Earnings per share were SEK -4.37 (SEK -3.48).
  • Cash flow from operating activities amounted to -52,487 KSEK (-34,715 KSEK).
  • An Extraordinary General Meeting on January 22, 2021 decided on an employee stock option program of 525,000 options that entitles holders, upon completion of four milestones and a vesting period of 3 years, to subscribe for 525,000 shares in Gradientech at a price of SEK 40.50 per share.
  • QuickMIC was installed externally for the first time in January. Akademiska Sjukhuset in Uppsala conducted a beta test study for evaluation purposes that included about 30 sepsis patient samples.
  • During the spring, QuickMIC was awarded both the Red Dot Design Award 2021 and the iF Design Award 2021. The awards are among the world’s foremost in industrial design.
  • The company’s ISO13485-certified quality management system was audited externally in April and October (bsi) without deviations.
  • In August, the company moved into new larger premises that are specially adapted for the business. The new premises have, among other things, production areas that meet a large production capacity.
  • An Extraordinary General Meeting on September 3, 2021 elected Laura Chirica as a new Board member. Laura has a long international background in the commercialization of in vitro diagnostic products.
  • All products within the QuickMIC system, ie analysis software, instruments, consumables and reagents, have been released for system verification purposes.

Significant events after the end of the quarter

  • System verification and analytical performance evaluation of the QuickMIC system was completed.
  • Clinical study of QuickMIC and its gram-negative panel started in the beginning of the year. The study includes, in addition to the company, a total of three external clinical partners who test patient samples during the study.
  • Manufacturing agreements were signed with the contract manufacturers of the QuickMIC system’s instruments, as well as of the QuickMIC system’s consumables.

For further information please contact:
Sara Thorslund, PhD, CEO Gradientech
Tel: +46 (0) 736 29 35 80
sara.thorslund@gradientech.se

Ann Charlotte Svensson, Investor Relations
ir@gradientech.se