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Acarix AB (publ) publishes Interim Report, January – June 2021

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Press release
Malmö, August 19, 2021

Acarix AB (publ) publishes Interim Report, January June 2021

Continued positive trend with focus on US expansion

The second quarter continued with the same positive dynamics as during the beginning of the year. As we reflect on the six first months of 2021, we can note that sales of our disposable patches more than tripled. We also sold 28 new CADScor®Systems in the same period. At the same time, our position has been further strengthened in important markets such as Germany, the UK and the US through positive signals from both the market and authorities.

Extract from CEO Per Persson’s message to the Interim Report.

Second quarter 2021 compared with same period 2020

  • During the period, 14 (12) CADScor® Systems and 1,530 (660) disposable patches were sold.

  • Revenues amounted to SEK 878 thousand (292).

  • Gross profit amounted to SEK 632 thousand (220), corresponding to a gross margin of 72.4% (75%).

  • Operating expenses amounted to SEK 13,725 thousand (10,580).

  • Result before tax amounted to SEK –13,092 thousand (–10,390).

  • Net cash flow from operating activities amounted to SEK –15,327 thousand (-8,932).

  • Earnings per share amounted to SEK –0.09 (–0.20). No dilution arose

First half year 2021 compared with same period 2020

  • During the first half year a total of 28 (12) CADScor®System and 2,790 (800) patches were sold and generated totally SEK 1,600 thousand (413) in revenue. Gross profit amounted to SEK 1,162 thousand (329), corresponding to a gross margin of 73% (80).

  • Operating costs amounted to SEK 25,938 thousand (21,485).

  • Result before tax amounted to SEK –24,815 thousand (–21,205).

  • Net cash flow from operating activities amounted to SEK –24,920 thousand (–18,253).

  • Cash position amounted to SEK 39,142 thousand (35,366).

  • Basic earnings per share amounted to SEK –0.18 (–0.41). No dilution arose.

  • Number of shares amounts to 141,045,437 (51,694,043).

Events in the second quarter, 2021

  • On April 7 Acarix announced the publication of the Prognostic study, a study with long term follow up on patients from the Dan-NICAD 1 publication. “This large prospective study demonstrates that heart sound analysis carries prognostic information on long term events in patients with suspected coronary artery disease under the current standard clinical care. Hence, heart sound analysis seems to be a new prognostic marker in stable coronary artery disease and may improve initial risk stratification of these patients” says MD, PhD. Simon Winther from Gødstrup Hospital, Herning, Denmark

Events after June 30, 2021

  • No major events.

The complete interim report is available by link below or on www.acarix.com

For further information, please contact:

Per Persson, CEO
mail: per.persson@acarix.comtel:
+46 736 005 990

Christian Lindholm, CFO
mail: christian.lindholm@acarix.com
tel: +46 705 118 333

About Acarix

Acarix was established in 2009 and is listed on Nasdaq First North Premier. Acarix’s CADScor®System uses an advanced sensor placed on the skin above the heart to listen to the sounds of cardiac contraction movement and turbulent flow. It 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. Readings are obtained in less than 8 minutes. Safe and suitable for use in both out- and inpatient settings, the CADScor®System thus has the potential to play a major role in patient triage, avoiding the need for many patients to undergo stressful and invasive diagnostic procedures.
Redeye AB (+46 (0)8 121 576 90, certifiedadviser@redeye.se) is Certified Adviser to Acarix.
For more information, please visit www.acarix.com.

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