AroCell AB (publ) Interim Report January 1st to September 30th, 2021
A word from the CEO
”During the summer, we completed the acquisition of IDL Biotech and have now created a joint organization with a new strategy. This will take advantage of the two companies' strengths and thus utilize the companies' synergies in several areas. This report for the third quarter is the first interim report covering the merged company.
Happily, we now see, as markets begin to open up after the pandemic, a rapid recovery in our oncology segment with an "all-time high" in sales in Germany. At the same time, we hope to be able to open new markets for our bacteriology product TUBEX® TF. In parallel with this, planning is underway for future clinical studies that will form the basis for several approvals for our products in new markets”.
Anders Hultman, CEO
Reporting period July 1st – September 30th
- Net sales amounted to 6,029 (0) KSEK
- Profit after financial items amounted to -18,950 (-6,371) KSEK
- Cash flow from operating activities for the period amounted to -7,180 (-5,580) KSEK
- Earnings per share before and after dilution amounted to -0.16 (-0.08) SEK
Reporting period January 1st - September 30th
Please note that IDL Biotech is only included in the third quarter.
- Net sales* amounted to 6,102 (64) KSEK
- Profit after financial items amounted to -31,757 (-18,040) KSEK
- Cash flow from operating activities for the period amounted to -18,880 (-15,068) KSEK
- Earnings per share before and after dilution amounted to -0.34 (-0.25) KSEK
- Cash and cash equivalents at the end of the period amounted to 27,825 (45,896) KSEK
*Net sales for the period including IDL Biotech correspond to 17,138 (16,242) KSEK.
Events during the reporting period July 1st - September 30th
- AroCell informed that the Offer to shareholders in IDL Biotech AB is unconditional and completes the offer and to extend the acceptance deadline until 9 August 2021.
- AroCell announced that after a discussion with the FDA, it has been concluded that the predicate device selected for the AroCell 510 (k) application is not possible given the intended use. Due to this, AroCell has decided to withdraw the 510 (k) application in its current form.
- AroCell announced the outcome of the Offer to shareholders in IDL Biotech AB. The offer was accepted by 98% of the shares and votes in IDL.
- AroCell's subsidiary IDL Biotech AB was listed from Spotlight Stock Market.
- AroCell's subsidiary IDL Biotech AB informed about compulsory redemption of IDL's remaining shares.
- AroCell announced that a patent application has been filed in the United States for the measurement of thymidine kinase 1, for the prediction of cancer recurrence based on serum TK1 levels. The patent application is based on a study of patients with diffuse large-cell B-cell lymphoma (DLBCL).
- AroCell announced a new publication entitled “Serum concentration of Thymidine kinase 1 measured using a novel antibody-based assay in patients with Hodgkin's Lymphoma”. The study showed that patients with Hodgkin's lymphoma had significantly higher TK1 concentration, and where TK1 increases with more severe disease category.
Events after the reporting period
- AroCell informed about the company's updated operational strategy following the acquisition of IDL Biotech AB. The company has established a joint office in Bromma so that the operations' strengths and areas of expertise are utilized optimally, and to vigorously develop and streamline the company.
- 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.
Interim report January 1st – September 30th, 2021 (available in Swedish only) (Link)