Summary of the interim report (relates to the Group)
Three months (
- Net sales totaled
SEK 3,140,000 (SEK 587,000 ). - Profit/loss after financial items totaled
SEK -12,397,000 (SEK -21,464,000 ). - Basic and diluted earnings per share totaled SEK -0.01 (SEK -0.15).
- The equity ratio on
March 31, 2024 , was 81% (7.5%).
Significant events in the first quarter of 2024
- An order for ClearPoint Prism Neuro Laser Therapy System products was received from
ClearPoint Neuro, Inc (Nasdaq: CLPT), with an approximate value ofSEK 8.1 million . -
Mobile Service Provider agreement signed with
Rose Urology LLC ,Florida, USA . -
CLS raised approximately
SEK 23.5 million following closure of the TO 6 B warrant series, corresponding to a subscription rate of 100 percent. The Singapore Health Sciences Authority gave market approval for TRANBERG Thermal Therapy Systems, kick starting commercialization in theAsia Pacific .
Significant events after the end of the period
- First patients safely treated at the
San Luigi Gonzaga University Hospital ,Turin, Italy , using the TRANBERG Thermal Therapy System. -
A second order of single-use sterile instruments from the
National Institutes of Health Clinical Center, USA , for use with the TRANBERG Thermal Therapy System valued at KSEK 370. -
CLS entered into an exclusive distribution agreement with
MTEC Company to market and sell the CLS TRANBERG product portfolio inFrance . -
Pursuant to a resolution passed at an extraordinary general meeting on
April 14 , a reverse split was carried out, meaning that 200 existing shares were merged into one share; this is deemed to create better conditions for broadening share ownership as part of the company's long-term capitalization efforts. - CLS presented a revised strategy that involves the company focusing on the neurosurgery market segment to increase the possibility of achieving positive cash flow by 2026.
Comments from CEO
The first quarter of 2024 saw continued growth for CLS. Revenues for the quarter were
Revised strategy with increased focus on neurosurgery going forward
In January, we received an order from
As we announced after the end of the period, we are now revising our strategy so that we can focus more of our resources on neurosurgery, to further improve the ClearPoint Prism Neuro Laser Therapy System, obtain additional market approvals and complete the planned Full Market Release in the US in the second half of this year. Our aim is to expand the use of the ClearPoint Prism Neuro Laser Therapy System beyond the MR suite into the operating room and to obtain approval for use with 1.5 Tesla MRI scanners as well, which together will provide access to approximately 90 percent of the US market for NeuroLITT treatment in the brain.
The increased focus on neurosurgery will significantly improve our ability to exploit the full potential of the market.
Increased revenue and continued cost discipline
While the US remains the company's main market, approval of the TRANBERG Thermal Therapy System in
We are also continuing to focus on cost discipline. The change in the prioritization of the main direction of the business that we have decided upon means that the company's costs are estimated to fall by approximately
Following the closure of the TO 6 B warrant series in January, we received an additional
Market approval for TRANBERG in
With the signing of a new agreement with
Foundations were also laid during Q1 for the starting up of our urology business in the
Following the end of the quarter, the first patients were treated with the TRANBERG Thermal Therapy System at the
Securing our technology and IP
Our technology and IP are essential for the continued success of our commercialization. In January we announced a new agreement with
A patent application was filed in January which, if approved, will provide protection for the CLS non-cooled laser applicator until 2044. At the same time, we are continuing to work on the transition to EU MDR certification.
A strong Q1 and a busy 2024 ahead
Looking back at the first quarter of 2024, it has been a period in which we were able to achieve growth in both commercial segments of our business as well as lay important foundations for accelerating our earning power. This was reflected in new orders and agreements in neurosurgery and urology, and approval for the TRANBERG system in
We look forward to you continuing to be a part of what should be an exciting and busy 2024 with an increased focus on neurosurgery.
CEO,
For more information, please contact:
Phone: +46 (0)705 90 11 40
E-mail: dan.mogren@clinicallaser.com
About CLS
For more information about CLS, please visit the Company's website: www.clinicallaser.se
This disclosure contains information that CLS 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
https://news.cision.com/cls/r/cls-publishes-interim-report-january---march-2024,c3990654
https://mb.cision.com/Main/11591/3990654/2830416.pdf
https://mb.cision.com/Public/11591/3990654/a3afc8cdd6baf07f.pdf
(c) 2024 Cision. All rights reserved., source