A word from the CEO
”The first nine months have been highly favorable for AroCell, with almost a 40% increase in sales compared to previous years. During the third quarter, AroCell continues to experience a growing order intake in both bacteriology and oncology. To address the growing demand, we are consistently increasing our production capacity, both through internal expansion and in collaboration with our partners. As a result of increased demand and a temporary extension of delivery times with suppliers, we are experiencing a shift in revenue recognition from the third quarter to future periods. Simultaneously, the work to automate several of our biomarkers is progressing as planned. I am pleased to report that we are in a good position to take the company further in its growth.”

Anders Hultman, CEO

Reporting period July 1st – September 30th

• Net sales amounted to KSEK 10,700 (10,401).
• Profit after financial items amounted to KSEK -13,003 (-11,069)*.
• Cash flow from operating activities for the period amounted to KSEK -5,661 (-1,856).
• Earnings per share before and after dilution amounted to SEK -0.06 (-0.05).
• Cash and cash equivalents at the end of the period amounted to KSEK 51,512 (67,825).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.

Reporting period January 1st – September 30th

• Net sales amounted to KSEK 33,528 (24,519).
• Profit after financial items amounted to KSEK -42,161 (-42,779)*.
• Cash flow from operating activities for the period amounted to KSEK -12,525 (-11,373).
• Earnings per share before and after dilution amounted to SEK -0.18 (-0.20).
• Cash and cash equivalents at the end of the period amounted to KSEK 51,512 (67,825).

* Includes costs for goodwill amortization of KSEK 29,684 (29,684) for the period.

Events during the period July 1st – September 30th

• AroCell has signed an additional agreement with ZECEN Biotech for the development of its third tumor marker product, TK 210 ELISA, on ZECEN Biotech’s automated platforms. This collaboration is an important milestone for AroCell as the company strives to expand its product range and improve cancer diagnostics.
• A recent study has been published, providing additional evidence for the use of UBC® Rapid as a diagnostic and monitoring tool for bladder cancer. This study stands as the first of its kind, comparing various commercial rapid tests among a large group of patients with bladder cancer and healthy individuals at a single center.
• New study focused on the clinical applications of the TK 210 ELISA for ovarian cancer has been accepted for publication in the Karger Oncology journal. This study highlights the clinical utility of TK1-specific activity (TK1 SA) in the early detection of ovarian cancer.

Events after the period

• After the conclusion of the period, the warrant program, as decided by the annual general meeting, has been implemented. The total number of warrants issued is 5,000,000, with a premium of 0.05 öre. The program has a duration of 3 years and is allocated among various groups, including the CEO, management team, other executives, and other employees. The strike price has been set at SEK 1, and the warrants are subscribed on market terms.

Interim report January 1st – September 30th, 2023 (Link)

A word from the CEO
”The positive sales development continued in the second quarter, with steady growth in our two main segments, bacteriology and oncology. AroCell remains strong with a solid cash position and stable and robust sales growth. We have a highly skilled organization that covers all aspects of our operations, from research and development to sales, production, and distribution. We are diligently following our five-point strategy and are beginning to see the benefits of our emphasis on rapid testing and CLIA platforms. With a clear strategy and a dedicated team, we have all the necessary prerequisites to achieve success.”

Anders Hultman, CEO

Reporting period April 1st – June 30th

• Net sales amounted to KSEK 11,775 (6,349).
• Profit after financial items amounted to KSEK -15,490 (-16,016)*.
• Cash flow from operating activities for the period amounted to KSEK -2,342 (-1,397).
• Earnings per share before and after dilution amounted to SEK -0.07 (-0.07).
• Cash and cash equivalents at the end of the period amounted to KSEK 57,548 (69,814).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.

Reporting period January 1st – June 30th

• Net sales amounted to KSEK 22,828 (14,118).
• Profit after financial items amounted to KSEK -29,158 (-31,710)*.
• Cash flow from operating activities for the period amounted to KSEK -6,864 (-9,517).
• Earnings per share before and after dilution amounted to SEK -0.13 (-0.16).
• Cash and cash equivalents at the end of the period amounted to KSEK 57,548 (69,814).

* Includes costs for goodwill amortization of KSEK 19,789 (19,789) for the period.

Events during the period April 1st – June 30th

• AroCell held its annual general meeting on 24 May 2023.
• TPS CLIA was approved for use on Fosun Diagnostics fully automated CLIA platforms in China. TPS CLIA is already approved on ZENCEN Biotech’s CLIA platform and was launched earlier this year.

Events after the period

• AroCell has signed an additional agreement with ZECEN Biotech for the development of its third tumor marker product, TK 210 ELISA, on ZECEN Biotech’s automated platforms. This collaboration is an important milestone for AroCell as the company strives to expand its product range and improve cancer diagnostics.

Interim report January 1st – June 30th, 2023 (Link)

AroCell has been collaborating with ZECEN Biotech since 2019 for the development of TPS CLIA on ZECEN Biotech and Fosun's automated CLIA platforms, which are now available on the Chinese market. There is also an ongoing collaboration for the automatization of UBC that started earlier this year. The addition of a third marker, TK1, to automated platforms is consistent with AroCell’s strategy to make its biomarkers available to a larger patient population and further strengthen AroCell’s presence in the Chinese market.
 
"The company's strategy is to include our tumor markers on automated platforms. We are very happy to start another development project with ZECEN Biotech to include the tumor marker TK1 on their fully automated CLIA system," says Paola Pellegrini, Product Manager at AroCell.
 
"We believe that including TK1 on ZECEN Biotech's automated platforms will help us achieve our goal of improving cancer diagnostics," says Anders Hultman, CEO of AroCell. He added, "Automating tumor markers reduces the risk of human error and increases the efficiency of the diagnostic process, enabling healthcare professionals to diagnose cancer faster and more accurately. Introducing TK1 on automated platforms in China is a major step forward for AroCell.”
 
About ZECEN Biotech
ZECEN Biotech Co., Ltd., is a Chinese company that mainly specializes in providing complete solutions for chemiluminescence immunoassay by developing, manufacturing, and marketing CLIA instruments and reagents. The company has research and development centers and a production base in Beijing, Shandong, and Jiangsu. ZECEN Biotech Co., Ltd., and cooperates with leading hospitals in China.

A word from the CEO
“AroCell began 2023 with a strong first quarter, building on the positive momentum of 2022. We are experiencing significant and consistent sales growth in our two primary market categories, oncology and bacteriology. In addition, we are beginning to see results from clinical studies, as well as new collaborations with strategic partners. During the quarter, we also made significant progress toward putting our biomarkers on automated CLIA platforms.”

Anders Hultman, CEO

Reporting period January 1st – March 31st

• Net sales amounted to KSEK 11,053 (7,770).
• Profit after financial items amounted to KSEK -13,668 (-15,695)*.
• Cash flow from operating activities for the period amounted to KSEK -4,522 (-8,120).
• Earnings per share before and after dilution amounted to SEK -0.06 (-0.09).
• Cash and cash equivalents at the end of the period amounted to KSEK 59,956 (90,870).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.

Events during the period January 1st – March 31st

• A new agreement has been signed with ZECEN Biotech for the automation of another one of the company’s tumor markers, UBC®, on ZECEN Biotech’s automated platforms.

• AroCell is expanding its sales and distribution network in Africa by signing a distributor agreement with Sub-Saharan Biomedical P.L.C. for the sale of TUBEX® TF in Ethiopia.

• A study has been published in the peer-reviewed journal “Cancers” showing that the use of AroCell TK 210 ELISA in combination with traditional biomarkers CA 125 and HE4 can significantly improve sensitivity and outperform the ROMA index in early detection of ovarian cancer. The study, titled “A Dual Biomarker TK1 Protein and CA125 or HE4-Based Algorithm as a Better Diagnostic Tool than ROMA Index in Early Detection of Ovarian Cancer” was conducted in collaboration with the University Medical Centre Ljubljana, Slovenia.

• An expert-reviewed article on thymidine kinase 1 (TK1) has been published in the scientific journal International Journal of Molecular Sciences. The study, titled “Prediction of overall survival by thymidine kinase 1 combined with prostate specific antigen in men with prostate cancer” was conducted by a research group at Karolinska Institutet and Karolinska University Hospital. It showed that the combination of TK1 and PSA provides a new biomarker that can indicate survival length in prostate cancer patients at an early stage.

Events after the period
No significant events have occurred after the end of the period. 

Interim report January 1st – March 31st, 2023 (Link)

A word from the CEO
"2022 was a successful year for AroCell! During the year, we have experienced strong sales growth driven by our rapid tests, with TUBEX at the helm. Annually, we have had an increase in revenue amounting to over 60%, a welcome increase, but one that makes great demands on the organization. This development is a direct result of the hard, conscious efforts that we at AroCell have made, all in line with the strategic plan we presented just over a year ago.

Not all organizations the size of AroCell can meet the increase in demand that we experienced during the year. It is the great dedication, flexibility and will to deliver permeating our organization that has made this possible. During the year, we have purposefully reinforced our organization with new employees equipping us to face the future. It is with great pleasure that I have witnessed the new organization taking shape.”

Anders Hultman, CEO

Reporting period October 1st – December 31st

• Net sales amounted to KSEK 12,471 (5,894).
• Profit after financial items amounted to KSEK -16,520 (-19,991)*.
• Cash flow from operating activities for the period amounted to KSEK -2,330 (-9,326).
• Earnings per share before and after dilution amounted to SEK -0.07 (-0.17).
• Cash and cash equivalents at the end of the period amounted to KSEK 65,189 (18,402).

Reporting period January 1st – December 31st

• Net sales amounted to KSEK 36,986 (11,996).
• Profit after financial items amounted to KSEK -59,299 (-50,573)*.
• Cash flow from operating activities for the period amounted to KSEK -13,703 (-28,206).
• Earnings per share before and after dilution amounted to SEK -0.28 (-0.54).
• Cash and cash equivalents at the end of the period amounted to KSEK 65,189 (18,402).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter and KSEK 39,579 (19,789) for the period January – December

Events during the period October 1st – December 31st

• New study shows that AroCell’s product TK 210 ELISA, which measures TK1 concentration, is more robust and simpler compared to TK-activity analyses. The study is described in the article “Analytical and clinical characterization of an optimized dual monoclonal sandwich ELISA for the quantification of thymidine kinase 1 (TK1) protein in human blood samples”, by Kiran Jagarlamudi et al., and was published in PLOS One journal.

• AroCell expands its presence in Africa by signing a distributor agreement with MM African Technology covering Zambia and Malawi. The agreement covers the sale of the company’s typhoid fever rapid test TUBEX® TF and the tumor marker test UBC® Rapid.

• AroCell gave a presentation on the company’s strategic development, initiatives and opportunities for 2023.

• AroCell presented information on the nomination committee’s proposal prior to the 2022 annual general meeting.

• AroCell’s partner ZECEN Biotech has received the registration certificate from the Chinese regulatory authorities NMPA. This means that the company’s tumor marker test, TPS®, is now available on ZECEN’s automated platforms in the Chinese market from the beginning of 2023.

Events after the period

• AroCell announced that it has signed a new development agreement with ZECEN Biotech for the automation of another of the company’s tumor markers, UBC®, on ZECEN Biotech’s automated platforms.

• AroCell continues to expand its sales and distribution network in Africa. The company signed a distributorship agreement with Sub-Saharan Biomedical P.L.C. for sales of TUBEX® TF in Ethiopia.

Interim report January 1st – December 31st, 2022 (Link)

AroCell has collaborated with ZECEN Biotech since 2019 for the development of TPS CLIA on ZECEN Biotech and Fosun's automated CLIA platforms. The inclusion of an additional marker, UBC on automated platforms is in line with the company's strategy and is set to open up new opportunities and further strengthen AroCell’s presence in the Chines market.
 
“The company's strategy is to get more tumor markers out on automated platforms. We are very happy to start another development project with ZECEN Biotech to include the tumor marker UBC® on their fully automated CLIA system,” says Marie Torstensson, Chief Market and Sales Officer Laboratory Test.
 
About UBC®
UBC® is a quantitative in vitro diagnostic test for the prognosis and monitoring of patients with bladder cancer. The test specifically measures soluble fragments of cytokeratin 8 and 18 in urine samples. Elevated amounts of cytokeratin fragments are found in the urine of many individuals with bladder cancer, even in the early stages of the disease. UBC® is also available as a quantitative POC test.
 
About ZECEN Biotech
ZECEN Biotech Co., Ltd., is a Chinese company that mainly specializes in providing total chemiluminescence immunoassay solutions by developing, manufacturing, and marketing CLIA instruments and reagents. The company has research and development centers and a production base in Beijing, Shandong, and Jiangsu. ZECEN Biotech Co., Ltd., and cooperates with leading hospitals in China.