PERIOD IN BRIEF
- Net sales for the first quarter amounted to TSEK 270 (5,622)
- The operating result amounted to TSEK -15,592 (-6,768)
- Result after tax amounted to TSEK -15,915 (-7,845)
- Earnings per share before and after dilution were SEK -0.57 (-0.28)
- Cash and cash equivalents amounted to TSEK 3,969 (57,069) as per March 31, 2022
SIGNIFICANT EVENTS IN THE FIRST QUARTER
- In January, a credit facility of up to MSEK 50 was signed with the company's principal owner Flerie Invest AB. In connection with the signing of the credit facility, a loan of MSEK 10 within the same was taken. The credit facility agreement is approved by a subsequent extraordinary general meeting on February 7, 2022.
- Nanologica's shares were admitted to trading on Nasdaq Stockholm Main Market on March 29, 2022.
- Katarina Alenäs took office as SVP Chromatography to lead the company's sales organization in chromatography globally.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
- Launch of the company's silica for preparative chromatography, NLAB Saga®, has started
- In April, a loan of MSEK 20 was taken within the credit facility that was signed with Flerie Invest AB in January.
A NEW CHAPTER BEGINS
On March 29, 2022, a new chapter in Nanologica's history began – as listed on a regulated market. By listing the share on Nasdaq Stockholm Main Market, we get an increased exposure and a better opportunity to attract institutional and international owners. At the same time, we are now launching our products for preparative chromatography.
The big event of the quarter was the change of lists to Nasdaq Stockholm Main Market, which we conducted on March 29. Being approved for trading on the main market puts a seal of quality on the company and the development we are pursuing. We have processes and procedures in place to run the company in line with the requirements of a regulated market, which means that the share is made more accessible to both Swedish and foreign institutional investors.
The company's main focus is currently on launching NLAB Saga®, our silica for preparative chromatography. Our newly appointed SVP Chromatography Katarina Alenäs and I started the launch with a successful conference in India in April and now a string of activities during the second and third quarters will follow. It is very gratifying to finally be able to travel again to meet customers. To now do so when we launch a world-class product, which can enable reduced production costs for insulin and other peptide drugs, feels fantastic. We see a high level of activity in the development of peptide drugs and experienced a great interest in our products. In light of this, we maintain our beliefs that it is reasonable to reach sales in Chromatography of MSEK 100–300 by 2024.
Production of our first commercial silica for preparative chromatography is almost finalized and with the eased travel restrictions, we have been able to increase our presence at the contract manufacturer in England. If nothing unforeseen happens, our assessment remains that products for sale will be available in the second quarter of 2022.
2022 has started strongly, although the progress we have made is not yet visible in our books. When we have launched our products for preparative chromatography, the possibility for ramping up the company's turnover increases significantly. We are more than ready to write new chapters in the history of Nanologica.
Södertälje in April 2022
/Andreas Bhagwani, CEO