Financial overview
(figures in parentheses refer to the corresponding period in the previous year)

Fourth quarter, October 1 - December 31, Q4 2024 Group
• Net sales amounted to 0 (0).
• Other operating income amounted to 15,317 (11,580) TSEK.
• Profit after tax amounted to 2,011 (-110,094) TSEK.
• Earnings per share before and after dilution: 0.00 (-0.32) SEK.
• Cash flow from operating activities was -6,447 (-1,954) TSEK.

Full year, January 1 - December 31, 2024 Group
• Net sales amounted to 0 (0).
• Other operating income amounted to 19,134 (11,748) thousand SEK.
• Profit after tax amounted to –26,937 (-135,461) thousand SEK.
• Earnings per share: -0.04 (-0.39) SEK.
• Cash flow from operating activities was -27,946 (-25,548) thousand SEK.
• Cash and cash equivalents as of December 31, 2024 were 15,734 (13,274) thousand SEK.

Significant events during the quarter
• In October, warrants of series TO7 were exercised for new shares in Prolight. The exercise period ran from October 7 to October 18 and were exercised to approximately 96.4 percent. Prolight raised approximately SEK 12.6 million before issue costs.

• Prolight was granted a European patent for the separation of plasma from whole blood within a fluidic consumable. The patent opens new potential business opportunities by incorporating the technology into other disposable fluidic systems.

• The first of thirty commercial prototype instruments for the Psyros system
from partner G&H | ITL were delivered.

• Prolight submitted a sixth patent application related to the Psyros system
regarding the use of all types of fluorophores.

Significant events after the end of the period
• Prolight received Notice of Intention to Grant for core Psyros patent from the
European Patent Office (EPO), protecting the company’s single molecule
counting POC technology.

• Prolight receiveds second Notice of Intention to Grant from EPO for Psyros
technololgy. This application is an extension to the core application.

CEO statement
In the fourth quarter, we continued to make significant progress with our point-of-care analysis system, Psyros, fully aligned with our longterm strategy to deliver an innovative solution for point-of-care diagnostics. Our focus remains on ensuring a smooth transition to commercial production through partnerships.

We have now delivered the first commercial prototypes of our point-of-care (POC) system, marking an important technical milestone. The prototypes are being used, among other things, in the pre-validation study currently conducted in collaboration with St. Thomas’ Hospital in London. This study along with a parallel study involving approximately 1200 biobank samples is a critical step ahead of the full clinical performance study planned for 2025. The results from the pre-validation studies are central to the final fine-tuning of the test and POC platform ahead of the full clinical performance study. The first results from the pre-validation study are expected in the first quarter of 2025.

The arrival of the commercial prototypes has also allowed the potential partners to get a true sense of the final system. Feedback on the commercial prototypes from all potential partners have been positive with particularly regarding the system’s look, compact size, fast time to result and its commercially attractive production costs.

As we approach clinical trials and commercial launch, we have strengthened our intellectual property protection with an additional patent application. We now have a total of six patent applications related to the POC platform Psyros and continue to build on our competitive edge. After the end of the period the company received two Notice of Intention to Grant from the European Patent Office (EPO) for protecting their single molecule counting POC technology. A number of formalities will now take place before the process is complete and the patents are fully granted by the EPO.

These two approvals will strengthen Prolight’s intellectual property protection and reinforce the company’s technological leadership in point-of-care. A strong patent protection makes Prolight even more attractive for strategic collaborations and in the ongoing discussions with potential industrial partners.

Recently further piece of capital equipment has now been delivered to the cartridge manufacturing line being built at Flex Medical Solutions. The arrival of this equipment is a significant step towards scaling the production of the cartridge from the hundreds to the hundreds of thousands needed to support the launch of the product. A key strength of the Psyros system is the low production cost of the cartridge.

Shortly after the end of the quarter, bioMérieux acquired the Norwegian company SpinChip Diagnostics, which develops a competing POC system. The acquisition confirms the growing interest from larger diagnostic companies in efficient and innovative solutions for point-of-care diagnostics. Our POC system stands out by being digital, meaning it is the first and only POC system to count individual molecular binding events. Furthermore, it is, portable, capable of multiplexing, and has low production costs, particularly for the disposable cartridge, providing us with significant competitive advantages.

Recent acquisitions contribute to continued strong interest from potential partners, reflecting the significant need for fast and reliable point-of-care diagnostics that can make a substantial difference in patient treatment. We expect interest from potential partners to intensify once we have the results from the pre-validation study.

I would like to take this opportunity to thank you for the strong support in the subscription warrant program carried out in October. The fact that the warrants of series TO7 were exercised to approximately 96.4 percent and that the board and management continue to increase their shareholdings is a clear sign of strong commitment and high confidence in the company’s future. This is also evident from the latest shareholder list, where six of us are among the ten largest shareholders in Prolight Diagnostics as of December 31.

In summary, all of us working at the company are very optimistic about the future. Our work with Psyros is progressing according to plan, and we are confident that our POC platform will play an important role in the growing market for point-of-care diagnostics. I look forward to continuing to update you as we reach additional milestones, and I thank everyone for your continued support.

Lund February 28th 2025

Ulf Bladin
CEO Prolight Diagnostics (publ)