· Net sales rose by about 15% to SEK 2,530k (2,200k).
· Loss after financial items was SEK 4,803k (loss: 3,903k).
· Comprehensive income was a loss of SEK 4,803k (loss: 3,852k).
· Comprehensive income per share basic and diluted totaled SEK -0.22 (-0.27).
· Cash flow from operating activities during the period was SEK -5,767k (
· Cash and cash equivalents including short-term investments amounted to SEK
16,829k (10,851k) at the end of the period.
· The company launched a new product format that will make validation of
FabRICATOR®easier for customers.
January - June
· Net sales rose by about 10% to SEK 4,514k (4,106k).
· Loss after financial items was SEK 8,642k (loss: 7,860k).
· Comprehensive income was a loss of SEK 8,642k (loss: 7,799k).
· Comprehensive income per share basic and diluted totaled SEK -0.41 (-0.60).
· Cash flow from operating activities during the six-month period was SEK
Comments from CEO Sarah Fredriksson
During the second quarter, sales increased by about 15 percent year on year, and
by 28 percent quarter on quarter. Sales in North America jumped 25 percent in
the second quarter compared with the second quarter of 2013. Overall this
performance represents positive confirmation that our customer base continues to
grow, as does demand for our enzyme products. To take full advantage of the
potential of our products, our efforts are aimed at convincing the market to
implement a shift in technology. We would like to see our customers begin using
our first product, FabRICATOR®, in quality control for commercial production of
antibody-based drugs. As part of this strategy the Company launched a new
product during the second quarter that will facilitate validation of our
product. We also have a special focus on the US market, where we are
transitioning from distribution to direct sales. This process, which is on
schedule and is expected to be completed by year-end in both North America and
Europe, has entailed an increase in expenses of about 4 percent for the parent
company during the period.
In the wholly-owned subsidiary GeccoDots, activities have intensified in R&D and
in marketing of products for the preclinical market as well as in projects aimed
at clinical development in the long term. Developments in the subsidiary have
resulted in increased costs that have had a negative impact on the consolidated
results. All development projects are on track and it is both exciting and
inspiring that we were recently able to present two scientific papers reporting
good results from the Sentinel Node project’s preclinical studies.
For more information, please contact: Sarah Fredriksson, CEO, Genovis AB Tel: 46
(0)46 -101235 firstname.lastname@example.org
Genovis’ business concept is to develop, produce and market innovative
technologies that facilitate and enable development of new treatment methods and
diagnostics for customers in the medical device and pharmaceutical industries.
The Group consists of Genovis AB and the subsidiary GeccoDots AB. Genovis
develops and sells unique enzymes in innovative product formats that facilitate
development and quality control of and biological drugs. GeccoDots uses
nanotechnology to produce a new type of contrast agent that is used in medical
Genovis shares are listed on NASDAQ OMX First North, and Thenberg Fondkommission
is Certified Adviser for the Company, t: 46 (0)31-745 50 00
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