Press release
24 August 2017
Acarix interim report, January - June 2017:
CADScor® System commercially available and first sales announced
Second Quarter (April-June) 2017 compared with the same period 2016
- The first CADScor®Systems including patches were sold. Generated sales amounted to kSEK 193 (0) and gross profit amounted to kSEK 116 (gross margin 60%).
- Increased commercial activities generated higher operating costs amounting to kSEK 7,110 (2,458).
- Results before tax amounted to kSEK -7,007 (-2,858).
- Cash position amounted to kSEK 115,999 kSEK (218).
- Total equity amounted to kSEK 147,013 (9,037).
- Net cash flow from operating activities amounted to kSEK -10,546 kSEK (-1,591).
First half year (January-June) 2017 compared with the same period 2016
- Total sales amounted to kSEK 193 (0).
- Increased commercial activities generated higher operating costs amounting to kSEK 11,043 (4,753).
- Result before tax amounted to kSEK -10,956 (-5,303).
- Net cash flow from operating activities amounted to kSEK -26,841 (-3,043).
Events occurred after June 30, 2017
Acarix AB has resolved to implement two incentive programmes (Series 2017/2020 and Series 2017/2021) through issuance of warrants to senior executives, employees, members of the Board of Directors and other key persons. Such programmes were adopted at a general meeting on May 24, 2017. The warrants are recognized during third quarter 2017 when they were granted.
For further information please contact: Søren Rysholt Christiansen, CEO
E-mail: dksrc@acarix.com
Telephone: +45 2777 1112
Notes to editors:
Acarix, CADScor®System and cardiac sound measurement
Acarix was established in 2009, and since 2010 investors SEED Capital (DK) and Sunstone Life Science Ventures (DK) have supported it towards market introduction. Acarix was listed on Nasdaq First North Premier in 2016 and has attracted a highly-experienced management team having held senior positions in international medical device companies - CEO Søren Rysholt Christiansen with Cook Medical, GN ReSound, and ELOS Medtech.
Acarix's CADScor®System is based on engineering excellence in sound recording and signal processing. It has long been known that both cardiac contraction movement and turbulent flow can generate sound. Contraction related sounds are in lower frequency, whereas turbulent sounds in the streaming blood caused by partial obstruction (stenosis) in the coronary arteries are of higher frequencies. The detection of these murmurs is delicate, since the energy of the murmurs is very weak. Detecting and recording the coronary murmurs requires not only an advanced sensor but also means for proper attachment to the skin above the heart to optimize the recorded signal and to avoid external noise.
The Acarix CADScor®System has been designed to be an all-in-one system in the sense that the heart signal will be recorded, processed, and displayed as a patient specific score, the CAD-score, on the device screen. The CADScor®System contains the necessary electronics to instruct professionals during use and to guide through the recording periods. The system also contains a docking station for daily qualification of the sensor. Further the system integrates with an adhesive patch for locking the sensor to a fixed position above the heart during the recording.
See more at www.acarix.com. Press kit: http://www.acarix.com/about-us/press-downloads/.
The information disclosed in this Interim Report is mandatory for Acarix AB (publ) to publish pursuant to the EU Market Abuse Regulation MAR. This information was submitted for publication at 08:00 a.m. (CET) on 24th of August 2017 by the authority of the CEO.
