Aerocrine: Interim Report January – September 2012
Continued positive sales development, +54% in the quarter and new distribution
agreements in place for key markets.
SOLNA, Sweden -- November 02, 2012
Aerocrine AB (STO:AERO-B):
January – September 2012
*Global Net sales grew by 72% to SEK 110.8m (64.4). Adjusted for currency
fluctuations, net sales rose by 69% Year over Year (Y-o-Y)
*The worldwide number of NIOX MINO® repeat tests sold increased by 48% and
for clinical use in the US grew by 68%
*The loss after tax amounted to SEK 138.6m (88.0), corresponding to a loss
per share before and after dilution of SEK 1.1 (0.9). The increased loss
was primarily driven by increased investments in commercial and
reimbursement activities in the US, termination payments for previous
distribution agreements, increased litigation expenses and costs related
to the Groups Long Term Incentive plans.
July – September 2012
*Global net sales grew by 54% to 34.8 (22.6) MSEK
*The worldwide number of NIOX MINO® repeat tests sold increased by 44% and
for clinical use in the US grew by 56%
*The loss after tax amounted to SEK 58.1m (31.8), corresponding to a loss
per share before and after dilution of SEK 0.4 (0.3).
*Aerocrine AB and Stallergenes S.A (Euronext Paris CAC small) entered into
an exclusive multi-year distribution agreement for Aerocrine’s airway
inflammation monitor and test kit. The agreement will initially cover
France, Italy, Poland, Turkey and several countries in the Middle East and
could be extended to additional countries.
*Aerocrine AB signed an import and distribution agreement with Shanghai
Pharmaceuticals Holding Co., Ltd. (SPH) for Aerocrine’s products for the
Chinese market. SPH is the second largest pharmaceutical company in China,
with an extensive network of local sales representatives across China.
*A negative decision by the Federal Patent Court in Munich regarding the
validity of one of Aerocrine’s German patents was announced. Aerocrine
intends to appeal the German decision.
Significant events after the period
*Continued improvement of reimbursement in the US as Medica Health Plans of
Minnesota, a BlueCross BlueShield company, announces that they have
updated their medical policy for FeNO testing and provides positive
coverage effective September 19, 2012.
AEROCRINE IN BRIEF
July - September January - September Full year
SEKm 2012 2011 2012 2011 2011
Net sales 34.8 22.6 110.8 64.4 93.5
Gross profit/loss 26.0 15.8 79.8 43.5 64.2
Gross margin % 75% 70 % 72% 68 % 69 %
Operating profit/loss -56.1 -27.9 -133.5 -83.3 -132.8
Net profit after tax -58.1 -31.8 -138.6 -88.0 -138.7
Cash flow, current -53.8 -17.4 -135.1 -65.2 -96,5
Total cash flow -56.1 -17.6 98.0 -70.9 -102.8
Aerocrine AB is a medical technology company focused on the improved
management and care of patients with inflammatory airway diseases. As the
pioneer and leader in the technology to monitor and manage airway
inflammation, Aerocrine markets NIOX® Flex and NIOX MINO®. Both products
enable fast and reliable management of airway inflammation and may therefore
play a critical role in more effective diagnosis, treatment and follow-up of
patients with inflammatory airway diseases such as asthma. Aerocrine is based
in Sweden with subsidiaries in the US, Germany, the UK and CH. Aerocrine
shares were listed on the Stockholm Stock Exchange on 15 June 2007. Aerocrine
discloses the information provided herein pursuant to the Securities Markets
Act and/or the Financial Instruments Trading Act. The information was
submitted for publication at 08:00 a.m. onNovember 2, 2012.
www.aerocrine.com or www.niox.com
This information was brought to you by Cision http://www.cisionwire.com
Scott Myers, CEO:
+46768788379 or +1970368 0336
Michael Colérus, CFO:
+46 8629 07 85
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