CEO’s statement
“I am very pleased to announce that our growth focus within existing markets is yielding results. We are experiencing a significant increase in sales while simultaneously adjusting our organization and production capacity in an economically sustainable manner to ensure continued stable growth. In parallel, we also aim to broaden our product portfolio through in-licensing or acquisition. During the second quarter, we achieved a positive cash flow of SEK 2.4 million, which marks an important step forward in our efforts to build a successful diagnostics company.

Revenue increased by 30% compared to the same quarter last year and by nearly 20% compared to the first quarter. We are now in our fourth consecutive year of strong sales growth. Compared to the first half of 2023, sales have grown by 23%, and we continue to see very strong order intake”.

Anders Hultman, CEO

Reporting period April 1st – June 30th

• Net sales amounted to KSEK 15,273 (11,775).
• Profit after financial items amounted to KSEK -13,054 (-15,490) *.
• Cash flow from operating activities for the period amounted to KSEK 2,767 (-2,342).
• Earnings per share before and after dilution amounted to SEK -0.06 (-0.07).
• Cash and cash equivalents at the end of the period amounted to KSEK 48,705 (57,548).

* Includes costs for goodwill amortization of KSEK 9,895 (9,895) for the quarter.

Reporting period January 1st – June 30th

• Net sales amounted to KSEK 28,076 (22,828).
• Profit after financial items amounted to KSEK -23,594 (-29,158) *.
• Cash flow from operating activities for the period amounted to KSEK -1,447 (-6,864).
• Earnings per share before and after dilution amounted to SEK -0.10 (-0.13).
• Cash and cash equivalents at the end of the period amounted to KSEK 48,705 (57,548).

* Includes costs for goodwill amortization of KSEK 19,789 (19,789) for the quarter.

Events during the period April 1st – June 30th

• April 5-8 - AroCell’s marketing and clinical team alongside with our partners Prof Thorsten Ecke and Dr. Sarah Weiss from Germany participated in the 39th annual European Association of Urology Congress. Where our team presented a poster titled “Effect of hematuria on the performance of BTAstat®, UBC® Rapid, and NMP22 as urine-based biomarker for bladder cancer detection“.

• April 5-10 - AroCell visited American Association for Cancer Research (AACR) Annual Meeting 2024 in San Diego, where our team delivered two impactful poster presentations. Professor Teemu Murtola highlighted the TK 210 ELISAs predictive role of castration resistance in metastatic prostate cancer, while Kiran Jagarlamudi, CSO from AroCell, presented the clinical applications of TK 210 ELISA in DLBCL therapy.

• April 12 - AroCell published the Annual Report for 2023.

• April 18 - A new patent has been approved in the USA. The patent protects AroCell's specific antibodies that bind to the C-terminal region of TK1. These antibodies are used to measure TK1 protein in serum for cancer diagnostics.

• April 22 - AroCell published the notice for the Annual General Meeting for 2024.

• May 22 - AroCell published the report from the Annual General Meeting for 2024.

• June 19 - A delegation from Airlangga University and Dr. Soetomo General Hospital visited the AroCells office in Stockholm. Airlangga University, one of the oldest medical schools in Indonesia, and Dr. Soetomo General Hospital, the largest teaching hospital in Eastern Indonesia, both have centers for Tropical Disease and Cancer research.

Interim report January 1st – March 31st, 2024 (Link)