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OssDsign AB (publ) publishes Q3 2020 interim report

Continued strong sales growth and closing of a transformative strategic acquisition

Uppdaterad 2020-11-11
Publicerad 2020-11-11

The third quarter in figures

  • Net sales amounted to TSEK 6 481 (4 836).
  • Loss after taxes amounted to TSEK 18 740 (19 709).
  • Loss per share was SEK 1,1 (1,1).
  • Cash flow from current operations was TSEK -17 103 (-22 589).

The first 9-months in figures

  • Net sales amounted to TSEK 18 112 (11 804).
  • Loss after taxes amounted to TSEK 59 638 (55 379).
  • Loss per share was SEK 3,4 (3,8).
  • Cash flow from current operations was TSEK -55 064 (-62 803).

Important events during the third quarter

  • Morten Henneveld takes over as new CEO for OssDsign.
  • Muranaka Medical Instruments Co., Ltd., appointed as business partner in Japan.
  • OssDsign reports successful outcome at 6-month follow-up of clinical study in sinus augmentation.
  • OssDsign strengthens patent coverage for OssDsign Cranial PSI on the US market.

Important events after the end of the third quarter

  • OssDsign acquires Sirakoss Ltd and expands into spinal bone graft market.
  • Directed share issue raises 65 MSEK.
  • New publication in high-impact scientific journal PNAS confirms the bone regenerative potential of OssDsign’s technology.

The COVID-19 pandemic

In Q3, the Company saw a strong recovery in sales as restrictions were eased primarily in Europe and more normal scheduling of neurosurgical procedures was noted during the period. Procedure volumes with OssDsign products grew significantly, returning back to pre-Covid 19 levels of Q1 resulting in an overall sales growth of 34% vs Q3 2019.

OssDsign is continuously monitoring the impact of Covid-19 on short- and medium-term basis. Many parts of the world currently see an increase in the number of Covid-19 cases with re-imposed restrictive measures and postponed elective surgeries. With a development of the pandemic that is difficult to predict there is a higher level of uncertainty in the company’s outlook. The underlying demand for OssDsign products in the long-term, however, remains intact, as evidenced during the third quarter. OssDsign further believes that collective learnings and experiences from the initial phase of the pandemic has resulted in better prepared healthcare systems and therefore fewer negative effects.


The results for the third quarter 2020 will also be presented at an investor webcast today November 11th at 13:00 CET. The webcast can be accessed via the following link https://www.finwire.tv/webcast/ossdsign/q3/  or via the OssDsign website. 

For further information, please contact
Morten Henneveld, CEO, OssDsign AB
Tel: +46 73 382 43 90
Email: morten.henneveld@ossdsign.com

Certified Adviser
Erik Penser Bank AB is the company’s Certified Adviser. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email: certifiedadviser@penser.se.

About OssDsign
OssDsign is a Swedish medical technology company that develops and manufactures regenerative implants for improved healing of bone defects. Providing neuro and plastic surgeons with innovative implants, OssDsign improves the outcome for patients with severe cranial and facial defects worldwide. By combining clinical knowledge with proprietary technology, OssDsign manufactures and sells a growing range of patient-specific solutions for treating cranial defects and facial reconstruction. OssDsign's technology is the result of collaboration between clinical researchers at Karolinska University Hospital in Stockholm and material scientists at the Ångström Laboratory at Uppsala University.

 

This information is information that OssDsign AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08:00 CET on November 11th, 2020

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