Interim report January - September 2013

Continued growth of US clinical sales in the third quarter (+42%) and volume of
tests (+81%).
January – September 2013

  · Global Net sales decreased by 9% to SEK 100.5m (110.8)*. Adjusted for
currency fluctuations, net sales decreased by 6% Year over Year (Y-o-Y).
    · Net sales for clinical use of NIOX MINO increased by 6% and in the US by
46% in local currency.
    · Strategic sales/shipments (sales to Pharmaceutical companies and CRO’s for
clinical trials) decreased by 42% to SEK 18.9m (32.4). These sales fluctuate
substantially between quarters.

  · Total worldwide number of tests sold (repeat and initial) reached almost
1.5m (1.3) tests, an increase of 11% Y-o-Y and in the US for clinical use by
63%.
    · Total repeat test volume for clinical use increased by 12% and in the US
by 35%.

  · Gross Margin 73% (72%).
  · The loss after tax amounted to SEK 166.5m (138.6), corresponding to a loss
per share before and after dilution of SEK 1.1 (1.1). The operating loss
amounted to SEK 154.1m (133.5).

July – September 2013

  · Global Net sales decreased by 11% to SEK 31.1m (34.8)*. Adjusted for
currency fluctuations, net sales decreased by 10% Y-o-Y.
    · Net sales for clinical use of NIOX MINO decreased by 14% partially offset
by increases in the US of 42% in local currency.
    · Strategic sales/shipments increased by 16% to SEK 7.1m (6.1).

  · Total worldwide number of tests sold (repeat and initial) reached almost
0.5m (0.4) tests, an increase of 5% Y-o-Y and in the US for clinical use by 81%.
    · Global sold repeat test volume for clinical use decreased by 6%, partially
offset by increases in the US of 49%.

  · Gross Margin was 74% (75%).
  · The loss after tax amounted to SEK 56.5m (58.1), corresponding to a loss per
share before and after dilution of SEK 0.4 (0.4). The operating loss amounted to
SEK 47.9m (56.1).
  · In September; the NIOX VERO®, the Company’s new, fully portable hand-held
point-of-care device for the measurement of airway inflammation, in diseases
such as asthma, was presented at ERS (European Respiratory Society). The NIOX
VERO® was developed in collaboration with Panasonic Healthcare Co.,Ltd. (PHC)

Key events after the period

  · A new randomised clinical trial shows lower incidence of asthma
exacerbations and increased asthma control with Fractional exhaled Nitric Oxide
(FeNO)-guided anti-inflammatory treatment. The study has been published on the
website of Journal of Allergy and Clinical Immunology: In
Practice (http://www.jaci-inpractice.org/article/S2213-2198(13)00352
-8/abstract).

AEROCRINE IN BRIEF

+---------------+-----+------------+------+--------+----------+---------+
|               |July -   September|Jan - September|Rolling-12|Full year|
+---------------+-----+------------+------+--------+----------+---------+
|SEKm           |2013 |2012        |2013  |2012    |Oct - Sep |2012     |
+---------------+-----+------------+------+--------+----------+---------+
|Net   sales    |31.1 |34.8        |100.5 |110.8   |136.7     |147.0    |
+---------------+-----+------------+------+--------+----------+---------+
|-of   which    |7.1  |6.1         |18.9  |32.4    |22.2      |35.7     |
|strategic sales|     |            |      |        |          |         |
+---------------+-----+------------+------+--------+----------+---------+
|Gross          |22.9 |26.0        |73.1  |79.8    |99.5      |106.2    |
|profit/loss    |     |            |      |        |          |         |
+---------------+-----+------------+------+--------+----------+---------+
|Gross margin % |74%  |75%         |73%   |72%     |73%       |72%      |
+---------------+-----+------------+------+--------+----------+---------+
|Operating      |-47.9|-56.1       |-154.1|-133.5  |-217.7    |-197.1   |
|profit/loss    |     |            |      |        |          |         |
+---------------+-----+------------+------+--------+----------+---------+
|Net profit     |-56.5|-58.1       |-166.5|-138.6  |-229.5    |-201.6   |
|after tax      |     |            |      |        |          |         |
+---------------+-----+------------+------+--------+----------+---------+
|Cash flow,     |-50.8|-53.8       |-169.0|-135.1  |-218.2    |-184.2   |
|current        |     |            |      |        |          |         |
|operations     |     |            |      |        |          |         |
+---------------+-----+------------+------+--------+----------+---------+
|Total cash flow|-62.2|-56.1       |132.7 |98.0    |83.5      |48.8     |
+---------------+-----+------------+------+--------+----------+---------+

For further information, please contact:

Scott Myers, CEO: +46 768 788 379 or +1 970 368
0336

Michael Colérus, CFO: +46 8 629 07 85

www.aerocrine.com or www.niox.com

*Note all numbers in ( ) are the corresponding period previous year and in the
same unit.

This is information that Aerocrine AB (publ) is required to publish in
accordance with the Swedish Securities Markets Act and/or the Swedish Financial
Trading Act. This information was submitted for publication on November 5, 2013,
at 8.00 a.m.