- Prostatype Genomics presents Quarterly report for the second quarter of 2021. The Report is available on the Company's home page.
Quarter 2 (1 April – 30 June 2021) summarized
- Net sales amounted to 549 TSEK.
- Net revenue amounted to 5 TSEK.
- EBITDA (earnings before interest, taxes, depreciation, and amortization) amounted to -2 373 TSEK.
- Cash flow from current operations in the quarter amounted -2 353 TSEK.
- Total cash flow for the period amounted to -2 862 TSEK.
- Earnings per share amounted to -0,18 SEK.
Significant events during the Second Quarter
In June, the Company announced the appointment of Sedermera Fondkommission as liquidity provider for the Company’s share. The liquidity providing commenced on June 17 2021.
In June, Prostatype Genomics entered into a multiyear agreement with the German company Minerva Biolabs GmbH (“Minerva”) for manufacturing of the Company´s prognostic biomarker Prostatype® RT-qPCR kit. Minerva was established in 1999 and is a spin off from the well renowned Robert-Koch Institute in Berlin. As a result of this cooperation, Prostatype® will be offered in a freeze-dried format
Events after the balance day
In August, the Company announced that it has entered into a cooperation agreement with the leading British laboratory company Cambridge Clinical Laboratories (“CCL”). CCL will not only offer Prostatype® in its own laboratories, but also promote its adoption in other urological testing facilities across the United Kingdom and Ireland.
In August, the Company published the preliminary results from the clinical study that has been performed at Uppsala University Hospital under the leadership of Associate Professor Michael Häggman. The study was performed with the purpose to show whether the result from the deployment of Prostatype® before making treatment decision for patients with prostate cancer corresponds to the actual level of aggressiveness of the tumour, and to determine the correlation in P-score between the index tumour and other cancer areas in the prostate. For both aims, the study indicates correlation with a high statistical significance.
The second quarter of 2021 was eventful for Prostatype Genomics, and we are now seeing increasing interest and focus on new ways to find, assess, and optimize the treatment of prostate cancer.
Earlier this week we published a press release with a very gratifying news; we are partnering with Cambridge Clinical Laboratories, CCL, a leader in the field of introducing innovative diagnostic and prognostic tools in the UK and Ireland. CCL is an established and strong partner for Prostatype Genomics, and they will offer the Prostatype® test in their own laboratories, but also provide it to other laboratories. It's hard to imagine a better entry into these two exciting markets!
The great interest for both prostate cancer in general, and Prostatype® in particular, confirms that the clinical benefit that Prostatype® offers as an advanced decision support system for diagnosed prostate cancer fills an important andhitherto unmet need for healthcare and patients.
Preliminary results from the validation study at the University Hospital in Uppsala, led by Associate Professor Michael Häggman, were recently published. The study showed with high significance that the values obtained with Prostatype's® P-score correspond to the "proof" that consists of analysis of the surgically removed prostate.
The results are of course gratifying as they confirm the clinical benefit of Prostatype® as an advanced decision support when choosing treatment, reducing patients' suffering, and enabling more cost-efficient care.
After a long period where the entire healthcare system worked extremely hard and with distinction to "keep its head above water", we see signs that there is both a will and dawning opportunities to start paying off the "care debt" that has been built up during the pandemic and that is particularly present in cancer care. The signals we receive are that demand and interest in the type of smart, resource-optimizing services Prostatype® can offer is increasing sharply, and we hope to be able to communicate several important collaboration agreements soon.
The company also continues to strengthen the organization with new recruitments. We have recently welcomed a new employee on the market side and will welcome more during the third quarter.
As always, on behalf of the Company, I would like to thank all shareholders for your invaluable support. The summer is soon over, and we are entering an autumn and winter season that will be very intense for Prostatype Genomics. I look forward to that, and I look forward to communicating more news soon that is line with the milestones that the Company has previously identified, with our two focus areas at the forefront: the further strengthening of our scientific footprint with complementary studies, and a continued focus on the international commercialisation of Prostatype®.
Solna 18 August
This disclosure contains information that Prostatype Genomics AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 18-08-2021 08:00 CET.