Prostatype Genomics AB has today published its quarterly report for the first quarter comprising the period from 1 January 2022 to 31 March 2022. The report is available on the company website.
Quarter 1 (1 March – 31 March 2022) summarized
- Net sales amounted to 264 TSEK.
- Net revenue amounted to 260 TSEK.
- EBITDA (earnings before interest, taxes, depreciation, and amortization) amounted to – 5 050 TSEK.
- Cash flow from current operations in the quarter amounted -5 802 TSEK.
- Total cash flow for the period amounted to -5 903 TSEK.
- Earnings per share amounted to -0,37 SEK.
After leaving a developing and challenging 2021 behind us, the first quarter of 2022 has now passed. Despite a pandemic that has marked our first time as a listed company on First North, I am proud of the expansion we have succeeded in and the important milestones we have achieved for our continued development. The beginning of 2022 has been strong for Prostatype Genomics, and I look back on the last few months as a solid foundation for our continued work.
We continue to strive to strengthen our international presence, a step in that direction is that we will present at the American Urology Association Meeting 2022 in New Orleans on May 13-16. During the meeting, we will present the clinical study with Prostatype® that was conducted at the University Hospital in Uppsala, and we are very proud to have been selected to participate in one of the largest and most important meetings for urologists in the world. It is a clear proof of the strength of Prostatype®, and also an excellent opportunity for us to meet leading American urologists and decision makers. Another important step in our entry into the US market is that we have recently established a fully owned subsidiary in the US, Prostatype Genomics, Inc.
I am proud of the great progress we have already made in the United States, and it is with satisfaction that I can state that we are continuing to perform according to our timetable.
International collaboration agreements are of course important for our continued international expansion, and I have previously talked about the important agreement we have entered into with the leading British laboratory company, Cambridge Clinical Laboratories (CCL). During the past quarter, CCL placed the first order for Prostatype®, thus marking another important step in our commercialization process in one of our priority markets.
With these successes behind us, we strive to further accelerate our priority activities. To help achieve that, the Board of Directors in May proposed that the Annual General Meeting authorize the Board to decide on the implementation of a rights issue of units initially of approximately SEK 22.5 million before issue costs, followed by an additional approximately SEK 22.5 million before issue costs through attached warrants. The purpose of the rights issue is to finance and intensify the launch of Prostatype® in the USA and priority European markets
We are now continuing to work with the foundation we laid at the beginning of the year, and I look forward to another year of expansion and continued work with existing and new partners, customers, and patients.
It is clear that there is a great demand for Prostatype® in the markets we prioritize, and I am expecting to reach many exciting collaborations with caregivers during the year.
Finally, I would like to thank employees, partners, the board and our shareholders who are part of Prostatype Genomics' journey. We have an exciting time ahead of us!
CEO Prostatype Genomics AB
Solna 12 May 2022
This disclosure contains information that Prostatype Genomics AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 12-05-2022 08:00 CET.