An intensive start to 2021
First quarter: 1 January –
- Net sales amounted to
SEK 0.0 million (0.2). - The operating result totalled
SEK -63.8 million (-55.9). - The result for the period amounted to
SEK -63.2 million (-56.0). - Earnings per share before and after dilution amounted to
SEK -2.34 (-2.44). - Cash flow from operating activities totalled
SEK -56.1 million (-59.1). - At
31 March 2021 , cash and cash equivalents totalledSEK 12.5 million (10.1). Short-term investments in fixed-income funds amounted toSEK 106.1 million (165.7), short-term components of listed corporate bonds toSEK 82.6 million (131.0) and long-term investments in listed corporate bonds toSEK 73.0 million (24.4).
Significant events
in the first quarter of 2021
- Q-linea received its first order for ASTar® from the Company’s global sales partner
Thermo Fisher Scientific , valued at overSEK 8 million . The order included a pre-payment for a binding order for the next six months. - The Company contracted
Thermo Fisher Scientific as the first site to participate in the Company’s US clinical study for ASTar. - Q-linea presented very good interim results from the pivotal European trial for antibiotic susceptibility system ASTar.
after the end of the period
- Q-linea achieves CE-IVD approval for ASTar with very strong study results and can now commercialize ASTar in
Europe together with its partnerThermo Fisher Scientific
Comments by the CEO
An intensive start to 2021
Q-linea achieved a number of important milestones during the quarter: we received our first ASTar order, we presented very good interim results from our pivotal European trial and we contracted
The first quarter marked a highly intensive phase of launch preparations for us and our global sales partner,
Together with
Thermo Fisher Scientific’s strong belief in the ASTar system was reflected in the order placed by the company in early March, even before the clinical study had been completed. The order for ASTar instruments and consumables was worth over
In light of this order, we were particularly pleased to receive the very strong interim results from our pivotal European trial. Essential agreement (EA) – giving the same result as the reference method on the concentration of antibiotics that kill or inhibit bacterial growth – exceeded 94% and categorical agreement (CA) – giving the same classification of the bacterium within one of three groups (S.I.R) with respect to susceptibility to antibiotics – exceeded 97%. To achieve CE-IVD approval in
The third major development during the quarter was that we contracted
successful study.
The study is expected to commence during the second quarter of 2021, starting with the analytical portion of the study, followed by the prospective portion. As in
Having
We are now closing the books on an intensive quarter and look forward with confidence to a continued intense and interesting 2021.
After the end of the period, we achieved CE-IVD mark of ASTar with very good results, it naturally feels very positive and we are now ready to launch. I hope and believe that Q-linea’s shareholders share our enthusiasm. I hope and believe that Q-linea’s shareholders share our enthusiasm.
Uppsala,
This report has not been reviewed by the Company’s auditors. The report has been prepared in a Swedish original and an English translation. In the event of any discrepancies between the two, the Swedish version is to apply.
Presentation
Q-linea invites investors, analysts and the media to an audiocast and teleconference (in English) today, 6 May, at
Webcast: https://tv.streamfabriken.com/q-linea-q1-2021
Telephone numbers for the teleconference:
SE: +46 850 558 354
US: +1 833 823 0586
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