Financial overview of the third quarter
- Net sales amounted to TSEK 0 (0).
- Result after taxes amounted to TSEK -5 358 (-6 815).
- Earnings per share before and after dilution amounted to
SEK -0,03 (-0,04). - Cash flow from operating activities after changes in working capital amounted to TSEK -6 101 (-9 787).
Nine months,
- Net sales amounted to TSEK 0 (0).
- Result after taxes amounted to TSEK -20 027 (-20 425).
- Earnings per share before and after dilution amounted to
SEK -0,10 (-0,13). - Cash flow from operating activities after changes in working capital amounted to TSEK -19 835 (-24 423).
- Cash and cash equivalents on the balance sheet date amounted to TSEK 22 121 (64 689).
Third-quarter sales, earnings, cash flow and personnel
Net sales for the third quarter of 2023 amounted to TSEK 0 (0).
Operating costs, including capitalised costs for the third quarter, amounted to TSEK 6 422 (9 049). A smaller share of the costs has been capitalised in the quarter compared to the corresponding period last year, TSEK 976 (2 192).
Operating income for the third quarter amounted to TSEK -5 358 (-6 815), and the result after taxes amounted to TSEK -5 358 (-6 815).
Third-quarter cash flow
Cash flow from operating activities during the third quarter amounted to TSEK -5 327 (-6 782). After changes in working capital, cash flow for the period was TSEK -6 101 (-9 787). Total cash flow for the period amounted to TSEK -7 077 (32 414). The previous year’s figures included a new issue of TSEK 44 393 in the quarter.
Net sales and results, nine months,
Net sales for nine months of 2023 amounted to TSEK 0 (0).
Operating costs for nine months, including capitalised costs, amounted to TSEK 31 023 (28 652). A more significant proportion of the costs have been capitalised during the nine months compared to the corresponding period last year, TSEK 10 758 (7 985). The cost increase is primarily related to continued investment in research and development and building up the future organisation.
Operating income for nine months amounted to TSEK -20 025 (-20 424), and result after taxes amounted to TSEK -20 027 (-20 425).
Cash flow, nine months
Cash flow from operating activities during nine months amounted to TSEK -19 933 (-20 325). After changes in working capital, cash flow for the period was TSEK -19 835 (-24 423). Total cash flow for the period amounted to TSEK -30 594 (29 250). The previous year’s figures included a new issue of TSEK 61 658.
Personnel
The average number of employees during the nine months was 15 (15), of which 5 (3) were women.
Investments, liquidity, and financial position
On
Recorded investments in the patent portfolio amounted to TSEK 4 455 (3 676), most of which are investments in patents and patent applications related to the Company’s products.
Cash and cash equivalents on the balance sheet date amounted to TSEK till 22 121 (64 689).
Equity amounted to TSEK 109 950 (136 589).
The equity ratio was 95 (96) percent.
Significant events during the third quarter
- The promising result from
Lumito 's first international pilot study was presented at Liverpool Pathology 2023. The result demonstrated that usingLumito 's technology, it is possible to detect the deposition of immunoglobulin and complement in renal tissue.
Lumito signs an agreement withUniogen Oy . The agreement is a collaboration agreement to produceLumito 's immunohistochemical reagent kit, SCIZYS Erbium Kit. The reagent kit is part ofLumito 's product offering and is based on upconverted nanoparticles.
Lumito participated with a booth at theEuropean Congress of Pathology inDublin on 10–12 September. The congress gathered 4,448 people, and the interest inLumito 's booth was excellent. An increased interest was also shown from repeat visitors and potential distributors.
Dr. Gopalakrishnan andLumito 's poster was awarded third place at the R&D Summit:Institutes for Excellence Launch atUHCW NHS Trust .
Significant events after the end of the period
- CE marking and launch of SCIZYS is taking slightly longer than expected. Due to some parts of the project taking longer than expected, the plan does not hold, and a launch in 2023 is, therefore, no longer considered possible. The assessment is now, if everything goes according to the updated schedule, that it is possible to complete and CE mark SCIZYS in the first months of 2024.
- First factory-produced SCIZYS reagent kit is now ready. The first batch of
Lumito 's reagent liquid intended for sale to the end customer is now produced byLumito 's production partner,Uniogen Oy .
CEO comments
During the third quarter,
Product development of a completely new innovative technology takes time. Our goal is to build a long-term strong and attractive company.
In September, we participated for the second time at one of the internationally leading congresses in pathology, which this year took place in
We are very proud of the poster presented by Dr.
All employees and partners do their utmost to ensure approval and CE marking of SCIZYS as soon as possible. With continued focus and determination, we continue this dedicated work. Our commitment is to offer our future customers the best possible product solution. Any improvement achieved through the compliance testing or other dialogue with external parties will strengthen our product and, thus, our competitiveness as a new player in the industry.
We want to thank you for your continued support and commitment to
CEO at
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