The period in summary
First quarter, January-March 2024
The Company entered into a distribution agreement regarding SpheriCal®
Result for the period increased with 28% compared to same period last year
The Company has continued the development of the technology platform, preparing to launch additional calibration products
Key Figures
(KSEK) Jan-Mar 2024 Jan-Mar 2023
Net sales 395 617
Profit (loss) for the period -1,249 -1,733
Total assets 7,744 12,940
Equity / assets ratio (%) 82 83
Cash flow for the period -1,590 5,829
Basic earnings per share (SEK) -0.11 -0.16
Comments from CEO Elin Mignérus
The start of 2024 has been focused on advancing our technologies, both the SpheriCal® and dendritic nanogel platforms. Furthermore, we have built on existing and new partnerships with customers, academic partners, and project partners, which we look forward to further cultivating during the year.
This quarter, we have focused on taking the next step with all of our platforms; from technological developments to customer engagement, we have seen progress in several aspects of the business.
During the period, we have been happy to see new, interesting companies find their way to Polymer Factory. From established pharmaceutical companies to younger biotechs, the span of customers shows the broad spectrum of potential applications for our products. As discussed in previous reports, the sales cycles are very long in our industry, meaning that an inflow of new customers is both necessary and important to increase the likelihood of products reaching all the way to the market. We are therefore very happy to see new customers coming in and coming back for subsequent purchases, and look forward to cultivating these relationships into long-lasting collaborations.
Building on the products launched in the end of 2023, Polymer Factory has continued to make developments to the SpheriCal® platform. By collaborating with academic and commercial partners, the company has taken several steps towards the launch of SpheriCal® IM-MS – a milestone for the company. The products under development have shown great features compared to existing calibrants on the market, and received great interest when conceptually introduced during last year. We are excited to finalize the launch of these products during Q2 2024 and look forward to hearing the response from the market to this new technology.
To emphasize the launch of new products, representatives for the company are preparing in full for this year’s American Society for Mass Spectrometry (ASMS) Conference in Anaheim in June, where Polymer Factory will have a booth. ASMS is the single most important conference for mass spectrometry, and therefore a priority for Polymer Factory when planning marketing activities for the year. Being present at industry events is an important marketing tool for the company, and especially effective for application-oriented events such as ASMS, as it offers the opportunity to reach out to a large crowd through both booth, presentations, and posters.
We continue to work hard on external collaborations, both through projects such as Nano-SHIELD (European Defence Fund) and academic collaborations that can further the development of our products and their applications. Being a small team, we put great value in fostering such collaborations as we, through them, can add resources and knowledge to our developments in a very cost-effective way.
I look forward to taking on the rest of 2024 together with the team, who put 100% into advancing the company’s positions in all markets we are present in. Together with the Board of Directors, we are happy to share this journey with owners who support us in our vision: by providing nanomaterials, enable the development of products that improve life and prosperity.
Find the Interim report HERE
About Polymer Factory
Polymer Factory was founded in 2006 at KTH Royal Institute of Technology and its Board of Directors have been essential in driving dendritic nanotechnology research to commercialization for almost 15 years – expertise that has been transferred to the Company’s products. Emerging from many years of cutting-edge research within the field, Polymer Factory today has, in the Company’s assessment, the world’s largest product portfolio of dendritic materials with customers ranging from Big Pharma, MedTech and BioTech companies, to research-intensive institutes and academic research groups. Polymer Factory has also used the Company’s vast knowledge and expertise to develop a patented calibration technology, named SpheriCal®, designed for Mass Spectrometry instruments.
For more information, please contact:
Elin Mignérus, CEO
Phone: +46 (0) 79 300 27 76
E-mail: elin.mignerus@polymerfactory.com
This disclosure contains information that Polymer Factory is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 10 May 2023.
Find the full press release here:
Comments