CEO’s statement

“The year 2024 started successfully with solid sales in the first quarter and continued strong order intake for the coming quarter. Production is operating at high speed ensuring that deliveries progress well. Financial results look promising and we are following our strategic plan towards profitability. Excluding goodwill amortization, the period’s result was -600 KSEK and we achieved a positive EBITDA of nearly 600 KSEK, which feels reassuring.”

Anders Hultman, CEO

Reporting period January 1st – March 31st

• Net sales amounted to KSEK 12,803 (11,053).
• Profit after financial items amounted to KSEK -10,505 (-13,668)*.
• Cash flow from operating activities for the period amounted to KSEK -4,214 (-4,522).
• Earnings per share before and after dilution amounted to SEK -0.05 (-0.06).
• Cash and cash equivalents at the end of the period amounted to KSEK 46,347 (59,956).

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

Events during the period January 1st – March 31st

• A recently conducted study has shown that levels of serum thymidine kinase 1 (sTK1) can predict the survival of patients with metastatic prostate cancer. The study also indicates that sTK1 is useful for predicting which patients may benefit from chemotherapy with the drug docetaxel, instead of hormonal treatment.

• AroCell has previously announced that it has entered into a distribution agreement with Sub-Saharan Biomedical P.L.C. for the sale of TUBEX® TF in Ethiopia. After working through the local regulatory process, AroCell has now obtained regulatory approval for TUBEX® TF in Ethiopia.

• Ellen Dittberner, CFO of AroCell, has taken maternity leave, and Lars Jakobsson has assumed the role of acting CFO.

• Two abstracts regarding the clinical applications of AroCell TK 210 ELISA have been accepted for poster presentations at AACR 2024.

• A new study examining the use of urine-based biomarkers, including UBC Rapid, for monitoring patients with high-risk non-muscle-invasive bladder cancer has been published.

• The Nomination Committee has presented proposals for the board of directors at AroCell for the Annual General Meeting 2024, where Max Pihlqvist is proposed as the chairman of the board and Fredrik Lindgren is proposed for election as a new board member.

Events after the period

• AroCell published the Annual Report for 2023.

• A new patent was approved in the USA. The patent demonstrated the clinical significance of TK1 protein measurements in serum with specific antibodies against the C-terminal region of TK1 in cancer.

• AroCell published the notice for the Annual General Meeting in 2024.

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