AroCell AB (publ) Interim Report January 1st to March 31st, 2020

A word from the CEO
“Like most other companies, AroCell has had challenges with the Corona pandemic. The measures all around the world that have been taken to prevent the spread of the virus have affected us all. For AroCell, this has meant fewer opportunities for meetings with our clinical partners and lower sales of our kit. However, internal operations have been able to continue without interruption. A major focus during this period has therefore been on strengthening our IP portfolio and on the work to get AroCell TK 210 ELISA approved by the FDA in the USA."

Michael Brobjer, CEO

Reporting period 1st January – 31st March 2020

  • Net sales were 64 (76) KSEK
  • Loss before financial items was -5 474 (-5 287) KSEK
  • Cash flow from operating activities was -5 068 (-4 402) KSEK
  • Earnings per share before and after dilution were -0.08 (-0.13) SEK
  • Cash and cash equivalents were at the end of the period 55 847 (25 332) KSEK

Significant events during the reporting period 1 July – 31st March

  • AroCell patent no 105980407 and titled “Monoclonal anti-TK1 antibodies” were granted by China National Intellectual Property Administration (CNIPA). The patent relates to AroCell’s proprietary monoclonal antibodies used for determining the Thymidine kinase 1 concentration in serum samples.
  • AroCell patent no. 10.551.385 regarding the method of determining the likelihood of cancer relapse was granted by United States Patent and Trademark Office.
  • Cecilia Ahlin joined the management team as Chief Medical Officer. Cecilia will lead and develop AroCell’s clinical strategy with a focus on getting more clinical evidence for the use of TK1 as a biomarker in cancer treatment.
  • AroCell submitted a patent application regarding the use of an immunoassay of Thymidine Kinase 1 (TK1) to enable more accurate prognoses in prostate cancer patients. The patent is based on research together with the University of Tampere.
  • AroCell initiated a collaboration with the University Hospital of Pisa to evaluate the AroCell TK 210 ELISA for Thymidine Kinase 1 (TK1) as a prognostic biomarker in subjects with liver cancer. The aim of the study is to determine the prognostic value of TK1 in combination with imaging techniques to improve prognoses and monitoring in subjects with liver cancer
  • An abstract from AroCell was accepted for poster presentation on the American Association of Cancer Research 2020 (AACR 2020).
  • A new peer-reviewed article from AroCell was accepted for publication in the BioTechniques journal. The article describes a comparison of AroCell TK 210 ELISA with Abcam TK1 ELISA.
  • Marianne Alksnis was employed as Senior Sales Director. Marianne will be leading Arocell's sales efforts and continue to develop the global distributor network.

Significant events after the reporting period

  • A new peer-reviewed article was published in the BioTechniques journal, were AroCell TK 210 ELISA shows higher sensitivity compared to other TK1 ELISA assays
  • AroCell AB filed an international (PCT) application at the Swedish Patent Office (PRV) regarding the use of Thymidine kinase 1 (TK1) in predicting the presence of and diagnosing Mycoplasma pneumonia, and in the classification of respiratory infections.

Interim report January 1st to March 31st, 2020 (available in Swedish only) (Link)

Source: MFN
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