Interim Financial Report - Summary: +------------------------------------------+-----+-----+------+------+-------+ |Key Ratios | | | | | | +------------------------------------------+-----+-----+------+------+-------+ | | | | | | | +------------------------------------------+-----+-----+------+------+-------+ |Dignitana Group * |Q2 |Q2 |Q1-Q2 |Q1-Q2 |Full | | |2016 |2015 |2016 |2015 |year | | | | | | |2015 | +------------------------------------------+-----+-----+------+------+-------+ | | | | | | | +------------------------------------------+-----+-----+------+------+-------+ |Net revenues, TSEK |957 |980 |2 108 |3 943 |4 749 | +------------------------------------------+-----+-----+------+------+-------+ |Total revenues TSEK |966 |1 213|2 173 |4 469 |5 801 | | | | | | | | +------------------------------------------+-----+-----+------+------+-------+ |Net profit after financial items, TSEK |-7 |-4 |-13 |-7 123|-16 569| | |672 |383 |575 | | | +------------------------------------------+-----+-----+------+------+-------+ |Cash and bank balances, TSEK |51 |6 938|51 541|6 938 |19 042 | | |541 | | | | | +------------------------------------------+-----+-----+------+------+-------+ |Earnings per share before and after |-0,43|-0,31|-0,78 |-0,51 |-1,08 | |dilution, SEK | | | | | | +------------------------------------------+-----+-----+------+------+-------+ | | | | | | | +------------------------------------------+-----+-----+------+------+-------+ |* No consolidated group report during Q2| | | | | | |2015, the figures represent Dignitana AB. | | | | | | +------------------------------------------+-----+-----+------+------+-------+ | | | | | | | +------------------------------------------+-----+-----+------+------+-------+ |Dignitana AB |Q2 |Q2 |Q1 - |Q1 - |Full | | |2016 |2015 |Q2 |Q2 |year | | | | |2016 |2015 |2015 | +------------------------------------------+-----+-----+------+------+-------+ | | | | | | | +------------------------------------------+-----+-----+------+------+-------+ |Net revenues, TSEK |801 |980 |1 919 |3 943 |4 749 | +------------------------------------------+-----+-----+------+------+-------+ |Total revenues TSEK |809 |1 213|1 983 |4 469 |5 801 | | | | | | | | +------------------------------------------+-----+-----+------+------+-------+ |Net profit after financial items, TSEK |-7 |-4 |-13 |-7 123|-16 570| | |702 |383 |629 | | | +------------------------------------------+-----+-----+------+------+-------+ |Cash and bank balances, TSEK |50 |6 938|50 691|6 938 |18 622 | | |691 | | | | | +------------------------------------------+-----+-----+------+------+-------+ Significant events during the period · In the beginning of June, the company participated at the annual cancer congress organized by the American Society of Clinical Oncology (ASCO) in Chicago. About 35,000 oncology professionals visited the congress. The DigniCap scalp cooling system created high interest and Dignitana received numerous leads. · The company has successfully completed a new share issue of 52,5 MSEK consisting of two private placements totaling 33,1 MSEK and a rights issue of 19,5 MSEK from existing shareholders in order to finance further expansion in the US. The rights issue was oversubscribed by 75%. · The board has decided to issue a total of 165,000 warrants according to the remuneration program that was decided on at the Annual General Meeting. The price for the warrant has according to the Black&Scholes formula been set to 2,17 SEK. Each warrants carry the right to purchase one share in the period 1 to 30 June, 2019 for the price of 29 SEK. · The company continued its US launch and has continuously signed contracts with new customers. Significant events after the period-end · Dignitana released in July that the company so far has signed agreements with 32 hospitals in the US for the DigniCap system, with several early adopters ordering additional units within months of initial set up. Comments from Jan Richardsson, CEO, Dignitana AB (publ) Q2 has shown consistent order intake and an increased quotation pipeline. Since the start of Dignitana, Inc. we have signed contracts with 32 hospitals and placed well over 40 systems in the US. We see a great interest from doctors, nurses and patients but sometimes the legal and insurance process with the hospital takes time which can delay signing. The number of treatments are growing month by month. The business model has been accepted (lease + pay-per-treatment), it will gradually grow our revenues on a long term basis. All our hospitals where we have installed DigniCap are up and running, but not all of them in full scale yet. Scalp cooling is a new treatment for the hospitals and they need to establish their internal routines as well as invoicing procedure towards the patients. We have recently installed four New York hospitals which is important since installations in New York will give media coverage. We are continuing to focus our sales activities on comprehensive cancer centers and cooperation’s which manage infusion centers. We have used this quarter to further develop our US organization in order to provide both our partner sites and their patients with the level of support they require. We have employed a very experienced and respected oncology nurse in order to support our sales team and the clinical staff at each of our installations. We have employed our own marketing person who supports the hospitals marketing the new the scalp cooling method among their patients. We have also brought on as a consultant an experienced health care professional who is supporting in getting the contracts negotiated and signed. The process of getting scalp cooling reimbursed continues and we are slowly working our way through the insurance system. So far the hospitals have priced the treatments at approximately 500 USD/treatment. The rights issue was successful and we secured 52,5 MSEK through one rights issue to existing shareholders and two private placements. The rights issue was oversubscribed by 75%. We attracted a new major American investor into our investor roster, Hodges Capital Management, this shows the potential that investors see in our company. Financial comments · As of September 2015 Dignitana AB reports consolidated group financials, including the subsidiary Dignitana, Inc. Comparative figures for Q1-Q2, 2015 in the group relates to the parent company. Costs related to the subsidiary are now being paid by Dignitana, Inc. Other costs such as regulatory, quality, FDA and product development will continue to be paid by the parent company. · Every month Dignitana Inc. will invoice the customers a fixed rental fee for DigniCap and a pay per treatment fee based on the number of completed treatments. Dignitana AB will continue to own the systems and will invoice Dignitana Inc. a monthly rental fee for DigniCap and part of the pay per treatment fee. · A transfer pricing agreement has been established between Dignitana AB and Dignitana Inc. to determine how the result will be shared between the companies. Other external expenses in Dignitana AB include costs related to the transfer price agreement between the companies. · Inventory has decreased since year-end due to large deliveries to the US. Since systems delivered to the US will be rented to customers, they will be capitalized as tangible assets and depreciated over five years. · A rights issue to existing shareholders and two private placements have been completed. The issues raised a total of 52.5 million SEK before issuance costs of approximately 5.3 million SEK. The complete report will be found on our webpage http://www.dignitana.se/eng Media Contact: Jan Richardsson CEO, Dignitana AB (publ) Ph +46 (0)46 16 30 92 E jan.richardsson@dignitana.com About Dignitana AB (publ) Dignitana is a Swedish public company, based in Lund, and manufacturer of the medical cooling device DigniCap®. Dignitana is continuously researching and developing new uses for DigniCap®. Dignitana AB is listed on the OMX Nasdaq First North stock exchange and has appointed Erik Penser Bank as Certified Adviser. For more information visit www.dignitana.com About the scalp cooling system DigniCap® Dignitana’s core product - DigniCap® - is a patented scalp-cooling system that offers cancer patients the ability to keep their hair during chemotherapy. DigniCap® is developed to provide continuous cooling with high efficacy, safety and acceptable patient comfort.
Dignitana AB publish interim financial report for Q2 2016
| Source: Dignitana AB
Attachments
