A word from the CEO
"Another eventful and good quarter for AroCell has ended. The positive sales trend continues in our two product areas, oncology and bacteriology. It is particularly pleasing that the sales growth rate within our bacteriological segment increased during the quarter and sales within this segment have now more than doubled compared to the previous year. It feels good to see that our work is paying off. At the same time, we continue to work with our clinical programs and development projects.

Today, AroCell has a very advantageous position. We have a strong cash position, strong sales growth, and an organization that covers everything from research and development to sales, production, and distribution. Thanks to our very dedicated and competent employees, we are now seeing significant progress.”

Anders Hultman, CEO

Reporting period July 1st – September 30th

• Net sales amounted to 10,401 (6,029) KSEK.
• Profit after financial items amounted to -11,069 (-17,774) KSEK
• Cash flow from operating activities for the period amounted to -1,856 (-7,810) KSEK
• Earnings per share before and after dilution amounted to -0.05 (-0.20) SEK
• Cash and cash equivalents at the end of the period amounted to 67,825 (27,825) KSEK

Reporting period January 1st – September 30th

• Net sales amounted to 24,519 (6,102) KSEK
• Profit after financial items amounted to -42,779 (-30,581) KSEK
• Cash flow from operating activities for the period amounted to -11,373 (-18,880) KSEK
• Earnings per share before and after dilution amounted to -0.20 (-0.35) SEK
• Cash and cash equivalents at the end of the period amounted to 67,825 (27,825) KSEK

Events during the reporting period July 1st – September 30th

• AroCell expands the collaboration in the Chinese market by including TPS CLIA on Fosun Diagnostics' fully automated system. Through this collaboration, AroCell's market coverage in the Chinese tumor marker market is doubled.

• AroCell continues to expand globally with new distributors and during the period signed a distribution agreement with Hospimedica covering India, for the sale of UBC® Rapid.

Events after the period

• The article entitled "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., was published in the journal PLOS One, where the study demonstrated the robustness and simplicity of AroCell’s TK 210 ELISA assay compared to TK activity assays.

• AroCell continues to expand its business in Africa by signing a distributor agreement with MM African Technology covering Zambia and Malawi. The agreement covers the sale of TUBEX® TF and UBC® Rapid.

Interim report January 1st – September 30th, 2022 (available in Swedish only) (Link)

A word from the CEO
”It is with great pleasure that I can state that the positive sales trend continued during the second quarter within our two main segments, oncology and bacteriology. Order intake going forward also looks very good, and it is very satisfying to see that our work is bearing fruit. During the quarter, we validated a new reader for our bladder cancer test and started discussions with Attana AB about managing the production of their consumables in our production facility.”
 
Anders Hultman, CEO
 
Reporting period April 1st – June 30th
·    Net sales amounted to 6,349 (30) KSEK.
·   Profit after financial items amounted to -16,016 (-6,727) KSEK
·   Cash flow from operating activities for the period amounted to -1,397 (-5,185) KSEK
·   Earnings per share before and after dilution amounted to -0.07 (-0.09) SEK
·   Cash and cash equivalents at the end of the period amounted to 69,814 (29,748) KSEK
 
Reporting period January 1st – June 30th
·   Net sales amounted to 14,118 (73) KSEK
·   Profit after financial items amounted to -31,710 (-12,806) KSEK
·   Cash flow from operating activities for the period amounted to -9,517 (-11,421) KSEK
·   Earnings per share before and after dilution amounted to -0.16 (-0.17) SEK
·   Cash and cash equivalents at the end of the period amounted to 69,814 (29,748) KSEK
 
Events during the reporting period April 1st – June 30th
·    Ellen Dittberner was appointed Chief Financial Officer (CFO) as of August. Ellen replaces the current CFO, Lars Jakobsson, who will retire. Ellen has solid experience, which includes driving change and development work.
 
·    AroCell started discussions with Attana AB regarding moving their production of consumables, for example, sensor chips, to AroCell.
 
·    A new evaluation study of the product TUBEX® TF was started in Uganda. This study is being conducted in collaboration with the Uganda National Public Health Laboratory Services (UNHLS), to evaluate TUBEX® TF. Positive study results will form the basis for an application for market approval followed by sales.
 
·    AroCell held the annual general meeting on 24 May 2022.
 
·    AroCell's quantitative point-of-care (POC) for bladder cancer UBC® Rapid was verified for result interpretation on a new instrument, the Cube Reader. By differentiating UBC® Rapid and meeting the different needs of end users, the possibility of more widespread use increases.
 
·    AroCell acquired 1,313,432 shares in the subsidiary IDL Biotech AB during the second quarter through a compulsory redemption of remaining shares. AroCell now owns all shares in IDL Biotech AB.
 
Interim report January 1st – June 30th, 2022 (available in Swedish only) (Link)

A word from the CEO

”The first quarter of 2022, despite the great unrest we are experiencing in Europe right now, has been a very good quarter. We successfully completed our rights issue and have thereby secured funds, which allows us to implement our strategy. It was also good to see continued very strong sales growth in both our main segments, oncology, and bacteriology during the quarter. Our new organization after the merger is starting to give results and the company is buzzing with activity.”

Anders Hultman, CEO

Reporting period January 1st - Mars 31st

• Net sales amounted to 7,770 (43) KSEK
• Profit after financial items amounted to -15,695 (-6,078) KSEK
• Cash flow from operating activities for the period amounted to -8,120 (-6,235) KSEK
• Earnings per share before and after dilution amounted to -0.09 (-0.08) SEK
• Cash and cash equivalents at the end of the period amounted to 90,870 (35,828) KSEK

Events during the reporting period January 1st - Mars 31st

• A prospectus has been published for the proposed and approved rights issue.

• AroCell initiated discussions with Attana AB regarding a collaboration. The collaboration aims to give AroCell access to Attana's extensive knowledge in quality and product development, while AroCell's biomarkers could eventually be used on Attana's instruments.

• During the Extraordinary General Meeting, AroCell's Board was expanded with two new members, Per-Anders Abrahamsson and Max Pihlqvist.

• The outcome of the rights issue was 100% subscribed for, of which 63% with or without the support of subscription rights. The other 37% were subscribed by the issue guarantors. The Group receives approximately SEK 86 million before deductions for issue costs.

• On March 8, the Arbitration Board announced a ruling in the compulsory acquisition process between AroCell and IDL's shareholders who did not exchange their shares for AroCell shares in connection with the takeover bid. The price of the IDL share was set at SEK 3.23 per share.

• The company's headquarters was moved from Uppsala to Stockholm.

• A directed new issue of shares was carried out to guarantors in connection with the completed rights issue. Where several guarantors chose to receive the guarantee compensation in the form of newly issued shares, a total of 1,134,800 shares comprised, and SEK 851,100.

• A new screening study with 30 years of follow-up with TK1 was published in the scientific journal The Prostate. Where it could be seen that high concentration levels of TK1 predict early death in prostate cancer.

• Two new members were proposed by the Nomination Committee prior to the 2022 Annual General Meeting through the election of Johan Häggblad and Agneta Tufvesson Alm.

• AroCell signed a new distributor agreement with Medionics Healthcare Limited, which covers Kenya and includes sales of TUBEX® TF.

Events after the reporting period

• Ellen Dittberner was appointed Chief Finance Officer (CFO) in August. Ellen replaces the current CFO, Lars Jakobsson, who will retire. Ellen has solid experience which includes driving change and development work.

Interim report January 1st - Mars 31st, 2022 (available in Swedish only) (Link)

AroCell today announces that the Annual Report for 2021 is now available on the company’s website: www.arocell.com.

The Annual report is available on the following link: https://arocell.com/sv/financial-report/
The report is available in Swedish only.

This information was submitted for publication through the agency of Anders Hultman, on April 7, 2022, at 12:00.

A word from the CEO
”2021 has been an exceptional and important year for AroCell, which has been characterized by major changes and a high work pace. The acquisition of IDL Biotech was a significant step forward for AroCell and now the AroCell Group has a strong foundation that creates a good foundation for implementing our strategy.

To be able to continue the commercialization of our existing products, and to develop and apply for regulatory approval for new products and markets, we have completed a new issue of 86 MSEK. Thanks to the support we received from our shareholders in the now completed share issue, we have everything in place to implement our business plan.

It’s reassuring that despite the restrictions inflicted by the COVID 19 pandemic, we see a strong recovery and growth in the oncology segment, we also saw an all-time high in sales in Germany in 2021. Now that COVID restrictions are loosening and more markets are opening up, there is good hope for continued rapid growth in our oncology segment. During the pandemic, AroCell has systematically reached out to new markets for our bacteriology product TUBEX® TF, which we hope to see results of soon. In parallel with this, planning for future clinical studies that will form the basis for several approvals of our products on new markets are ongoing.”

Anders Hultman, CEO

Reporting period October 1st – December 31st

• Net sales amounted to 5,894 (20) KSEK
• Profit after financial items amounted to -19,991 (-6,012) KSEK
• Cash flow from operating activities for the period amounted to -9,423 (-3,834) KSEK
• Earnings per share before and after dilution amounted to -0.21 (-0.08) SEK

Reporting period January 1st – December 31st
Please note that IDL Biotech is only included in the second half of the year.

• Net sales* amounted to 11,996 (84) KSEK
• Profit after financial items amounted to -50,573 (-24,052) KSEK
• Cash flow from operating activities for the period amounted to -28,206 (-18,902) KSEK
• Earnings per share before and after dilution amounted to -0.54 (-0.33) KSEK
• Cash and cash equivalents at the end of the period amounted to 18,402 (42,064) KSEK

*Net sales for the period including IDL Biotech correspond to 23,032 (21,832) KSEK.

Events during the reporting period October 1st – December 31st

• AroCell informed about the updated operational strategy following the acquisition of IDL Biotech AB. The Group has established a joint office in Bromma so that the operations' strengths and areas of expertise are utilized optimally, to vigorously develop and streamline the newly formed Group.

• A new study was published that examined whether the concentration of thymidine kinase 1 (TK1) in the blood early shows whether cytotoxic drugs work or not. The measurements were made with AroCell's TK 210 ELISA. The article is authored by Bernhard Tribukait and was published in the journal Cancers, 2021.

• AroCell continues to expand on the market with new distributors. The Group has signed a distributor agreement with Rock Medical Ltd covering the UK and Northern Ireland for the sale of UBC® Rapid.

• AroCell's Board of Directors proposed a fully guaranteed rights issue, which was then approved at the Extraordinary General Meeting in January 2022.

• At the end of the year, AroCell signed a Supply and License agreement with ZECEN Biotech for the distribution of the TPS® CLIA product on all their automated platforms on the Chinese market. The registration process has been initiated with The National Medical Products Administration (NMPA) in China and the product is planned to be available on the Chinese market by the end of 2022.

Events after the reporting period

• A prospectus has been published for the proposed and approved rights issue.

• AroCell has initiated a discussion about a collaboration with Attana AB. The collaboration aims to give AroCell access to Attana's extensive knowledge in quality and product development, while AroCell's biomarkers could eventually be used on Attana's instruments.

• During the Extraordinary General Meeting, AroCell's Board was expanded with two new members, Per-Anders Abrahamsson and Max Pihlqvist.

• The outcome of the rights issue was 100% subscribed for, of which 63% with or without the support of subscription rights. The other 37% were subscribed by the issue guarantors. The Group receives approximately SEK 86 million before deductions for issue costs.

Interim report January 1st – December 31st, 2021 (available in Swedish only) (Link)