Senzime’s Interim report January – March 2020
PM Senzime Interim Report Q1 2020
Financial information for the first quarter 2020
- Net sales amounts to KSEK 2,589 (385)
- Income after financial items amounts to KSEK -9,409 (-9,508)
- Earnings per share before dilution amounts to SEK -0.17 (-0.18)
We started the year strongly with an important order from South Korea which means that our distributor Unimedics, has placed its third major order since August 2019. This is a confirmation of physicians’ interest in TetraGraph® and that Unimedics sales to hospitals are increasing in South Korea.
We have built a solid foundation for the commercialization of TetraGraph® in the USA. All our processes were up and running in the first quarter and we have now received the first orders from customers in the US. Chris Estes started as General Manager at the beginning of January 2020 and since then, the US organization has been strengthened with a Vice President Sales leading the work on direct sales to hospitals.
In February, we signed a distribution agreement with Healthcare 21 in the UK which gives us access to a market of over 1,250 hospitals and with clear requirements and recommendations for switching to objective patient monitoring. A few weeks later, breakthrough deals came to NHS hospitals Medway Maritime Hospital and Sherwood Forest Hospital, which together provide hospital services to nearly 1 million patients annually. Both hospitals are now switching to using TetraGraph® to monitor patients undergoing anesthesia with neuromuscular drugs.
Senzime, like the rest of the world, is affected by COVID-19, but this has so far not affected our access to components and production capacity and our assessment is that we will be able to deliver products and services without interruption through the Corona crisis. We work actively to support customers and partners remotely with the help of digital tools. The basic need for neuromuscular monitoring remains even if planned surgeries are postponed making room for emergency care or free medical personnel. This can affect the timing of demand in the short term, but it is too early to comment on this.
In early April, we completed a directed new issue of shares of SEK 73.5 million before issue costs. The strengthened cash provides the conditions for accelerating our roll-out of TetraGraph® and continuing our expansion in the US as well as in Europe and Asia.
Uppsala in May 2020, Pia Renaudin, CEO of Senzime AB (publ)
For further information, please contact:
Pia Renaudin, CEO of Senzime AB
Phone: +46 70-813 34 17, e-post: email@example.com
Erik Bergman, CFO
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TO THE EDITORS
Senzime develops and markets systems, driven by unique algorithms and sensors, to follow patients ' nervous systems and electrical impulses – before, during and after surgery. The company's solution is called TetraGraph, a medical technology 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 health care guidelines and drug recommendations, TetraGraph contributes to shorter hospitalizations and lower health care costs – in a world where everyone wakes up safely after surgery. The vision is a world without narcotics-related complications. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 10 billion. The company's shares are listed on Nasdaq First North Growth Market (ticker SEZI). FNCA Sweden AB, +46 (0)8-528 00 399, email@example.com, is Certified Adviser for Senzime. www.senzime.com
This information is insider information that Senzime AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on May 8, 2020, 08:45.