The period in summary

• Products from the SpheriCal® platform were featured in a scientific article, co-authored by Polymer Factory
• The Company exhibited and presented at the ASMS conference in Anaheim, USA in June
• The Company launched SpheriCal® for IM-MS
• Trading of the Company's share moved from Spotlight Stock Market to Nordic SME on Nordic Growth Market

• The Company entered into a distribution agreement regarding SpheriCal®
• Result for the period increased compared to same period last year
• The Company has continued development of its technology platforms

Key Figures

(KSEK) Apr-Jun Apr-Jun Jan-Jun Jan-Jun
2024 2023 2024 2023
Net sales    197 372 592 989
Profit (loss) for the period    -1,317 -1,074 -2,567 -2,807
Total assets 6,329 11,634 6,329 11,634
Equity/assets ratio (%) 79 83 79 83
Cash flow for the period -1,416 -1,029 -3,006 4,800
Basic earnings per share (SEK) -0.12 -0.10 -0.24 -0.26

Comments from CEO Elin Mignérus

The second quarter of 2024 has continued to see advancement of our technologies, both the SpheriCal® and dendritic nanogel platforms. We have taken several steps set out for the Company this year, a journey that we look forward to continuing during the second half of 2024.

This quarter, we have realized several goals set out for the year, and been able to witness the results of the work put into our technologies from different aspects.

In early July, we were happy to announce that the US Patent and Trademark Office (USPTO) had granted Polymer Factory's dendritic nanogel (DNG) patent, thereby fulfilling a Company goal. The granting of the patent underlines that the DNG platform is a novel and technologically advanced solution that can bring benefits to the drug delivery market, and having intellectual property in place for this technology puts Polymer Factory in a stronger position when marketing this solution.

As mentioned in the previous report, one focus during the beginning of the year was the developments to the SpheriCal® platform, particularly relating to expanding the product portfolio to include calibrants for other techniques. Collaborations with academic and commercial partners led to the publication of a scientific article - co-authored by Polymer Factory's product manager - on the use of SpheriCal® calibrants for ion mobility mass spectrometry (IM-MS) which received very good feedback in the community. These calibrants offer a unique way of calibrating and tuning IM-MS, and to continue to build on the results from this study, the Company commercially launched three different IM-MS calibrants for sale in June. We are excited to see how the journey develops for the SpheriCal® platform as we continue to work towards new products that can improve calibration for our customers.

In June, the Company also had representatives at the American Society for Mass Spectrometry (ASMS) Conference in Anaheim, where the Company was exhibiting as well as engaging in conference related activities; for example, the new IM-MS technology was presented during a workshop. Having the opportunity to present to and engage with a global crowd within the relevant field made the timing of the launch of the new products very good; during last year's conference, we started sharing information about upcoming technologies, which gathered a lot of interest and added collaborators. The launch of this new product also meant fulfilling one of the Company's goals for 2024.

In June, the Board of Directors decided to evaluate a move from Spotlight to Nordic Growth Market (NGM), the main rationale behind this decision being to streamline costs, where NGM's had a competitive offer. We do not foresee this having any impact on the Company's operations, aside from the aforementioned reasons, neither for our owners. As the move was effective as of June 24th, we are now looking forward to a fruitful collaboration with NGM.

During the summer, we generally see the industry slowing down a little, but as we are now approaching fall, I look forward to continuing the high-paced work to reach the goals set out for this year. Although we do continue to see some general uncertainty in the economy and financial markets, we are happy to see new and returning life science companies wanting to collaborate with Polymer Factory - as always, we believe in our product offering, and are grateful for the possibility to enable development of advanced life science products together with our customers.