Press release: Uppsala, May 6, 2021. Senzime AB’s (publ) Interim Report for January-March 2021 is now available on the company’s website www.senzime.com.
Continued expansion in the USA and a new subsidiary in Germany
Key customer wins despite Covid-19 limiting access to hospitals
Application for listing on Nasdaq Stockholm’s Main List
Financial information January – March
Net sales amounts to KSEK 1,437 (2,589)
Operating profit before depreciation amounts to KSEK -14,920 (-5,967)
Earnings per share amounts to SEK -0.27 (-0.16)
Cash and cash equivalents amount to SEK 142.5 million (24.0) on March 31.
Despite the fact that Covid-19 continued to limit our opportunities to initiate new trials in hospitals even during the first quarter, we report a sales increase of 40 percent in Europe and the USA. The pandemic does not facilitate our work, but it does not stop us.
In the U.S., our own sales force has gained a number of important deals and we currently have just over 200 TetraGraph® systems under evaluation at a dozen large university hospitals. Our total pipeline includes even more systems, and several evaluations are also underway in small and medium-sized hospitals. Currently, Senzime is in discussions with a total of 40 hospitals in the US.
As part of our US strategy to complement our own sales force with distributors in certain states, we have entered into agreements with Mercury Medical. This is a reputable distributor with large resources, which gives us even bigger muscles in the world’s largest market. We are very much looking forward to the cooperation.
The sales pattern for the disposable TetraSens® sensor is encouraging. Compared with the first quarter last year, sales have doubled. We see signs of high consumption of TetraSens® for each installed TetraGraph®.
During the past quarter, TetraSens® also received the right to a reimburse in South Korea when their government compensation system decided to compensate for the use of disposable sensors for TetraGraph®. The reimbursement for disposable sensors is a positive step in increasing the use of monitoring when muscle relaxants are used and is in line with other important initiatives in Europe and the USA where work is being done to develop guidelines for monitoring in the event of neuromuscular blockade.
During the first quarter, we established our subsidiary in Germany and appointed a country manager. The business has got off to a flying start with trials at university hospitals already during the first week. We expect to start a number of trials in Germany in the near future and other planned recruitments should be ready before the summer.
Senzime’s Board of Directors has decided to apply for listing of the company’s shares on Nasdaq Stockholm’s main list in 2021. This is part of our continued expansion and strategy to continue to broaden our investor base and contribute to increased visibility and exposure for the company.
We look forward to a continued successful 2021 characterized by more and more trials in hospitals around the world and high business activity as a result of these.
Senzime develops and markets CE- and FDA cleared patient monitoring systems driven by unique algorithms and sensors to closely monitor patients under anesthesia. TetraGraph is a system that digitally and continuously measures the degree of neuromuscular blockade in the patient. The goal is improved clinical precision and simplified management in healthcare. By preventing complications and enabling healthcare professionals to follow guidelines and drug recommendations, TetraGraph can contribute to shorten hospital stays and lower healthcare costs. The vision is a world without anesthesia related complications, where everyone wakes up safely after surgery. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 15 billion. The company's shares are listed on Nasdaq First North Growth Market (ticker SEZI). FNCA Sweden AB, +46 (0)8-528 00 399, firstname.lastname@example.org is Certified Adviser for Senzime. www.senzime.com
This information is information that Senzime is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-05-06 08:45 CEST.