Acarix AB (publ) publishes Interim Report, January – June 2019

Malmö, August 6, 2019

CADScor®System Included in UK guidance for
ruling out Coronary Artery Disease

”With CADScor®System we have a fantastic opportunity to revolutionize the way the healthcare system handles patients with suspected coronary artery disease, CAD. In our daily work at Acarix, we see that the need for precise tools to make quick and appropriate decisions continues to grow, and Acarix has an important role to play in fulfilling that need.”

Extract from CEO Per Persson’s message to the Interim Report.

Second quarter 2019 compared with same period 2018

  • During the second quarter, sales amounted to five CADScor®System and 1,690 patches compared with four CADScor®System and 380 patches in same period previous year.
  • Revenue amounting to 664 kSEK (235), with gross profit of 539 kSEK (191) and a gross margin of 81% (81).
  • Operational costs amounting 12,844 kSEK (9,739).
  • Result before tax amounted to –12,301 kSEK (–9,536).
  • Net cash flow from operating activities amounted to –12,307 kSEK (–9,290).
  • Basic earnings per share amounted to –0,54 SEK (–0.41). No dilution arose.

First half year 2019 compared with same period 2018

  • During the first half year a total of 10 (8) CADScor®System and 2,330 (800) patches were sold and generated totally 963 kSEK (465) in revenue. Gross profit amounted to 748 kSEK (349), corresponding to a gross margin of 78% (75).
  • Operating costs amounted to 25,881 kSEK (19,908).
  • Result before tax amounted to –25,123 kSEK (–17,500).
  • Net cash flow from operating activities amounted to –25,409 kSEK (–18,734).
  • Cash position amounted to 39,037 kSEK (85,165).
  • Basic earnings per share amounted to –1,09 SEK (–0.76). No dilution arose.

Events in the second quarter, 2019

  • On June 10, Acarix’s CEO, Per Persson, presented the latest developments within the company at Redeye Growth Day. The presentation is live and is available at www.redeye.se/live/redeye-growth-day-19.
  • On June 27, Acarix announced that the CADScor®System has been included as a first line investigation for ruling out suspected stable Coronary Artery Disease by the British National Institute for Health and Care Excellence (NICE). From a market perspective the inclusion in the NICE guidance will allow Acarix to accelerate its strategy of introducing CADScor® in the UK. Acarix will now initiate negotiations with National Health Services, England, and clinical commissioning groups (CCG) to support the use of CADScor® as first line evaluation aid.

Events after June 30, 2019
On August 5, Acarix announced the publication of a meta-analysis including 2245 patients showing Acarix’s leading CADScor®System is more than three times as effective as current practice, implying clinical and economic advantages. The meta-analysis was published in The International Journal of Cardiovascular Imaging and explores reclassification of patients with suspected stable chest pain. 

The complete interim report is available by link below or on www.acarix.com    

For further information, please contact:

Per Persson, CEO
mail: per.persson@acarix.comtel:
+46 736 005 990

Christian Lindholm, CFO
mail: christian.lindholm@acarix.com
tel: +46 705 118 333

About Acarix

Acarix was established in 2009 and is listed on Nasdaq First North Premier. Acarix’s CADScor®System uses an advanced sensor placed on the skin above the heart to listen to the sounds of cardiac contraction movement and turbulent flow. It has been designed to be an all-in-one system in the sense that the heart signal will be recorded, processed and displayed as a patient specific score, the CAD score, on the device screen. Readings are obtained in less than 8 minutes. Safe and suitable for use in both out- and inpatient settings, the CADScor®System thus has the potential to play a major role in patient triage, avoiding the need for many patients to undergo stressful and invasive diagnostic procedures.

The information disclosed above is mandatory for Acarix AB (publ) to publish pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the agency of the above contact person on August 6, 2019 at 8:00 am (CET).

 

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