The period in summary
Third quarter, July-September 2022
The Company announced several important orders from customers, collectively amounting to approx. KSEK 1,200, of which approx. KSEK 1,000 is invoiced
The Company launched an updated portfolio of SpheriCal®
The Company received an order for a customized SpheriCal® ESI
Implementation of a quality management system (QMS) to prepare for certification in Q4
Year to date, January-June 2022
The Company received a strategically important order in January 2022 from a global life science company, with follow-up order in July
The Company has announced several important follow-up orders
A new Product Manager joined Polymer Factory on February 1, 2022
An incentive program for key personnel was implemented and announced
(KSEK) Jul-Sep Jul-Sep Jan-Sep Jan-Sep 2022 2021 2022 2021
Net sales 1,143 376 1,811 1,802
Profit (loss) for the period 381 -933 -2,170 -2,532
Total assets 9,400 12,106 9,400 12,106
Equity/assets ratio (%) 89 94 89 94
Cash flow for the period -1,008 -3,278 -3,667 6,447
Basic earnings per share (SEK) 0.06 -0.14 -0.32 -0.37
Comments from CEO Elin Mignérus
Q3 2022 has been an intense quarter for Polymer Factory, with important orders coming in alongside our work with continued technical developments. We have released a new set of SpheriCal® products to improve our offering, and also prioritized work with QMS establishment. With only a couple of months left of 2022, we look forward to closing this year on a positive note.
Q3 2022 has been a successful quarter for Polymer Factory, where we have seen several projects moving to next phases of evaluation and development. We have been very proud to announce several strategically important orders from global life science and biotech companies, showing that some of the most important players on the market have faith in our products.
During this quarter, we have announced three important orders that collectively amount to approx. KSEK 1,200*, which also lays the foundation for the positive trend we have in Q3, and something we strive to build on. Like mentioned before, we know that inflow of projects and orders can vary in timing over the year, but this is the harvest of previously successful projects and customer relations. This also shows us that patience is key in the technologically advanced life science industry, where lead times for evaluations can exceed other industries.
An important goal for the Company in 2022 is the implementation and certification of a quality management system (QMS) according to ISO 13485, a work that we have continued to prioritize during this quarter. This has led to a successful pre-audit, and we are en route to have the certification audit in Q4 this year. The underlying reasons for the importance of having a certified QMS can truly be related to our customers – this will strengthen our position towards the life science market, and we are dedicated to offer this new quality stamp to them.
We look back at this quarter with a positive mind, however we also do continue to see effects from the ongoing global situation; raw material prices have increased as well as uncertainties in delivery times. Although the Company – like the rest of the world – are meeting new challenges this year, we continue to stay strong when it comes to running our operations. I want to take this opportunity to applaud the Polymer Factory employees, who are dedicated to our mission and always ensure that we can continue to deliver top class products and services to our customers!
To continue to expand and improve our product offering towards our customers, we have continued the development of the Dendritic Nanogel (DNG) technology, which is set to launch in Q4. We have also improved the SpheriCal® offering by introducing a new set of 6-point calibration standards – this makes the product more comparable to other calibration products in terms of number of peaks in the calibration spectra. Alongside this, we have customers who are continuing to test the technology for size-exclusion chromatography (SEC) and electrospray ionization mass spectrometry (ESI-MS), which is a step towards reaching our goal of commercially offering SpheriCal® products for several MS techniques.
With continued positive interactions after the end of the quarter, such as the material transfer agreement (MTA) signed with a multinational pharmaceutical company, we are now striving to together with our customers push the ongoing projects into the next phases of development and towards commercialization. Like always, we are focusing on helping our customers create successful life science products, and I for one am very excited about the future for Polymer Factory and our products.
*of which approx. KSEK 1,000 is invoiced
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
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 November 2022.
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