Press release from Companies
Published: 2021-02-25 08:00:00
Summary of the year-end report • ISAB has repositioned its CRO business under a new brand name, "Inhalation Research Services", or IRS, offering precise, predictive early-stage research data. • ISAB has installed the first DissolvIt® module at a laboratory at an international company in Switzerland. • ISAB has recruited Chief Commercial Officer to strengthen the commercial organization. • ISAB has recruited a Quality and Regulatory Affairs manager to strengthen the organization's regulatory and quality system and support the planned clinical trial. • The company's Board has held its annual strategy meeting and agreed on ISAB's strategic plan and priorities during 2021 and 2022.
Selected financial data Fourth quarter (Oct-Dec) 2020 Reporting period (Jan-Dec) 2020 Significant events during the fourth quarter (Oct-Dec) Significant events during the reporting period (Jan-Dec) 2020 Significant events after the reporting period No significant events have occurred after the reporting period. Company eventsAt the Annual General Meeting on May 12, 2020, Board members Per Gerde, Sonja Gerde and Klaus Gottwald were re-elected, and Mårten Winge and Daniel Spasic were newly elected. Daniel Spasic was elected new Chairman of the Board. Members Fredrik Sjövall and Tom Sundelin declined re-election. Order backlog 2020-12-31 Customer CEO statement 2020 was a different year in many respects, not least with regard to COVID-19 and all the restrictions the pandemic entailed in, amongst other things, travel, customer meetings and conferences. However, we ended the year strongly with sales growth of approximately 13% for the full year 2020 compared with the same period in 2019. During the fourth quarter of 2020 we were able to end the year with a number of new signed orders from our customers totalling approximately 4 000 000 SEK. These new customer contacts once again demonstrate the strength of our products and services, despite limitations in the number of physical meetings. 1 600 000 SEK of these orders were invoiced during the same quarter, with the remaining 2 400 000 SEK to be invoiced during the first quarter of 2021. We also successfully completed a number of virtual installations, and customer training for the products and modules sold, which has been an important adaptation of our organization during the pandemic. The fourth quarter of 2020 was also an eventful one where we implemented a number of strategic initiatives to build a foundation for continued growth for the company, these included: New recruitment of two key positions: Paolo Raffaelli, Chief Commercial Officer, to strengthen the sales organization Cooperation with a renowned global marketing company UP, aiming to increase awareness of ISAB focusing on brand, digital marketing, optimising search-functions and generating new business Return to full-time for all employees after temporary leave due to COVID-19 The clinical validation of PreciseInhale® had to be postponed due to the ongoing pandemic. The plan for this has now been updated and the ambition is to complete the study before the end of 2021, given that external factors do not affect the study further. AstraZeneca's publication of our joint study using PreciseInhale® in larger animals which produced promising results, is another positive signal that confirms that we are on the right track and possess a technology that will eventually be used in a clinical environment. A unique technology together with dedicated staff, management, Board and owners means that 2021 will be an exciting year. We look forward to taking the step from a development company to a larger commercial company where we can continue to deliver added value to our customers. Huddinge, 25 February 2021 Manoush Masarrat CEO Read the Full Report HERE For more information about Inhalation Sciences, please contact: Manoush Masarrat, CEO E-mail: Manoush.masarrat@inhalation.se Mobile: +46 (0)73 628 9153 About Inhalations Sciences Sweden AB (publ) Inhalation Sciences Sweden AB (publ) develops and commercializes world-leading instruments for research in inhalation. The company’s patented lab instrument, PreciseInhale®, enables researchers to characterize, with high precision, how aerosols and small particles impact our lungs, and so our health, when we inhale them. The information above was provided by Inhalation Sciences Sweden AB (publ) by the company’s CEO for publication at 08.00, (CET), on February 25, 2021.
Selected financial data in summary
2020
Oct-Dec2019
Oct-Dec2020
Jan-Dec2019
Jan-Dec
Net sales, KSEK
2 114
3 836
10 137
8 949
Operating profit, KSEK
-4 257
-1 994
-8 741
-7 896
Result after tax, KSEK
-4 288
-2 484
9 875
-4 345
Balance sheet total, KSEK
18 488
23 569
18 488
23 569
Cash flow for period, KSEK
-3 417
-2 773
3 249
2 517
Cash flow for period per share (SEK)
-0,40
-0,32
0,38
0,29
Cash, KSEK
8 047
4 798
8 047
4 798
Earnings per share before dilution (SEK)
-0,50
-0,29
1,14
-0,50
Earnings per share after dilution (SEK)
-0,50
-0,29
1,14
-0,50
Equity, KSEK
10 475
5 240
10 475
5 240
Equity per share (SEK)
1,21
0,61
1,21
0,61
Equity ratio, %
56,66%
31,90%
56,66%
22,23%
R&D costs / operating costs, %
41,89%
49,20%
43,91%
41,80%
Number of shares
8 635 180
8 618 930
8 635 180
8 618 930
Multi-year overview
KSEK
2020
2019
2018
2017
2016
2015
2014
Net sales
10 137
8 949
5 441
8 022
7 216
8 086
10 358
Profit after net financial items
9 875
-4 345
-11 883
-6 358
-5 365
-2 854
64
Balance sheet, total
18 488
23 198
19 653
23 313
10 427
9 191
7 451
Equity ratio %,
57
22
55
68
40
26
18
Average no. of employees
8
7
6
5
5
5
4
Product
Amount (SEK)
University of Vienna
PreciseInhale®
1 980 000
Aquilon Pharma
PreciseInhale®
335 000
Corporate client
Development work XposeAlI®
130 000
Total
2 445 000