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Gradientech: Interim report January 1 – September 30, 2021

Gradientech AB (publ) interim report for Q3 2021 is now available on the company’s website www.gradientech.se.

Third quarter July-September 2021

  • Net sales amounted to 139 KSEK (14 KSEK).
  • Net loss amounted to -13,971 KSEK (-5,377 KSEK).
  • Earnings per share were SEK -1.14 (SEK -0.55).
  • Cash flow from operating activities totalled -9,899 KSEK (-5,609 KSEK).
  • As of 30 September 2021, cash and cash equivalents totalled 32,685 KSEK (7,328 KSEK).
  • Equity as of 30 September 2021 amounted to 38,613 KSEK (12,011 KSEK).
  • Production and supply manager with a background in medical device manufacturing joined the company.
  • In August, the company moved into larger premises specially adapted for the business. The premises have, among other things, production areas that meet a large production capacity.
  • At an Extraordinary General Meeting on 3 September 2021, Laura Chirica was elected new Board member. Laura Chirica has a long background in international commercialization of in vitro diagnostic products.
  • All products within the QuickMIC system (analysis software, instruments, consumables and reagents) have been released for system verification purposes.

The period January-September 2021

  • Net sales amounted to 141 KSEK (37 KSEK).
  • Net loss amounted to -35,457 KSEK (-23,182 KSEK).
  • Earnings per share were SEK -2.90 (SEK -2.62).
  • Cash flow from operating activities amounted to -35,459 KSEK (-24,839 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. During the quarter, The Uppsala University Hospital conducted a beta test study for evaluation purposes that included 30 sepsis patient samples.
  • QuickMIC was awarded both the Red Dot Design Award 2021 and the iF Design Award 2021. The awards are the leading international awards in industrial design.
  • The company’s ISO13485-certified quality management system was audited externally (bsi) in April without deviations.
  • In August, the company moved to new larger business-adapted premises in Uppsala Science Park.
  • In September, the board was strengthened with focus on commercialization with Laura Chirica as new board member.

Significant events after the end of the quarter

  • The annual external audit (bsi) of the company’s ISO13485-certified quality management system was conducted in October without deviations.
  • Regulatory system verification of the QuickMIC system has been initiated.
  • The Board of Directors informed the company’s shareholders that the planned listing process on the First North Growth Market during the autumn of 2021 will be postponed to 2022. The company instead intends to carry out the planned capital raising in the form of a rights issue primarily for existing shareholders.

Interim Report Q3 2021 [In Swedish]

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

About Gradientech
Gradientech is leading the field of ultra-rapid antibiotic susceptibility testing. We develop next-generation diagnostics that provide patients with the right dose of the right medicine at the right time. Our goal is to improve patient outcomes while reducing healthcare costs, for the benefit of society and at the same time contribute to safeguard that antibiotic will continue to be effective in the future. Gradientech is headquartered in Uppsala. Visit www.gradientech.se for more information.