Financial overview of the third quarter
July 1st – September 30th, 2020
- Net sales amounted to SEK 0 (0) thousand.
- Profit after tax amounted to SEK -3,851 (-1,325) thousand.
- Earnings per share before and after dilution amounted to SEK -0.05 (-0.02).
- Cash flow from operating activities amounted to SEK -3,850 (-1,325) thousand.
Nine months, January 1st- September 30th, 2020
- Net sales amounted to SEK 0 (0) thousand.
- Profit after tax amounted to SEK -10,848 (-5,317) thousand.
- Earnings per share before and after dilution amounted to SEK -0.15 (-0.14).
- Cash flow from operating activities amounted to SEK -10,843 (-5,317) thousand.
- Cash and cash equivalents on the balance sheet date amounted to SEK 4,191 (22,029) thousand.
Significant events during the third quarter
July 1st – September 30th, 2020
- On behalf of Lumito, RISE has developed protocols for the development of reagents based on UCNP's (UpConverting NanoParticles) for tissue labeling. At the end of June, the development results were delivered. During spring, Lumito established its own lab capacity with high competence in the functionalization of up-converting nanoparticles and carried out the final optimization under its own auspices. The goal is to have reagents and scanners ready for verification and external validation during Q3.
- Björn Isfoss was presented as one of Lumito's advisers. He has a solid education and broad experience in pathology and has worked as a consultant in the field of pathology in Norway, Sweden and the United Kingdom since 1998.
- The CEO of Lumito, Stefan Nilsson, passed away. The Board appoints Board member Urban Widén as Acting CEO and CFO Henrik Ljung as Deputy CEO. The work of finding Stefan Nilsson's replacement begins immediately.
- Two patents for tissue diagnostics are granted when Lumito gets its third patent family approved in Europe as the first region. The patent specifically includes the application area in which Lumito will launch its first product.
- Awareness of Lumito's potential is increasing among companies active in digital pathology and Lumito is contacted by leading companies in health technology and diagnostics. The process begins for discussions with future partners.
Events after the end of the period
- Lumito conducts a directed issue of approximately SEK 45 million and issues and grants warrant to existing shareholders. The directed issue is carried out through a so-called accelerated book building procedure.
- Lumito publishes new images from products with commercial design. The images show tissue samples marked with Lumito's reagents and scanned in Lumito's product, which in the future offers new opportunities to link decision support in the form of AI. Image quality has been improved through refined optics and the scanner speed has increased.
Link to website where the full report is available (in Swedish).
For further information, please contact:
Urban Widén, acting CEO of Lumito AB (publ) Phone: +46 70-466 31 60. E-mail: uw@lumito.se
The information was submitted for publication on November 3rd, 2020 at 08:30am.
Lumito
is a Swedish company that was founded as a spin-off from a research group at the Division of Atomic Physics and Lund Laser Centre, at Lund University. The company specializes in medical technology for digital pathology. The technology is based on fluorescence from upconversion nanoparticles, and aims to speed up and enhance the quality of tissue sample analysis. By developing a new, innovative analysis instrument with associated reagents, Lumito wants to equip healthcare providers with a powerful tool to meet the personalized healthcare’s requirements of fast and safe diagnostics.
