FINANCIAL SUMMARY • Net sales for the fourth quarter amounted to SEK 6,715 thousand (75) and for the full year to SEK 14,538 thousand (1,443) • Operating loss for the quarter amounted to SEK -11,890 thousand (-35,638) and for the full year to SEK -59,255 thousand (-69,963). For the full year, operating profit was affected by write-downs of tangible and intangible assets totaling SEK 10,434 thousand (14,523). • Loss after tax for the quarter amounted to SEK -14,033 thousand (-36,839) and for the full year to SEK -65,629 thousand (-75,157) • Earnings per share before and after dilution were SEK -0.19 (-1.02) for the quarter and for the full year SEK -1.32 (-2.08) • Cash and cash equivalents as of December 31, 2024 amounted to SEK 48,430 thousand (10,054) EVENTS DURING THE FOURTH QUARTER • A supplementary order for NLAB Saga® worth approximately SEK 1.9 million was received in October from the customer in China who placed an order worth SEK 3.7 million in September. • The rights issue resolved in August was completed during the quarter. After issue costs, the company received approximately SEK 76.5 million in cash. In addition, loans from Flerie Invest AB corresponding to approximately SEK 12.9 million and SEK 3 million of the bridge loan raised in connection with the rights issue were set off. • The bridge loan of SEK 15 million that was raised in August was repaid in full, through set-off in the issue and through cash payment. • In December, a fourth order for NLAB Saga® was received from a returning customer in China,to a value osapproximately SEK 1.9 million. EVENTS AFTER THE END OF THE YEAR • In January, the fifth order for NLAB Saga® was received from arecurring customer In China, at a value of approximately SEK 8.5 million. Since June 2024, the customer has placed orders for NLAB Saga® at a total value of approximately SEK 18 million.
SALES RECORD FOR CHROMATOGRAPHY PRODUCTS
In 2024, we reached our highest sales of chromatography products ever with net sales of SEK 14.5 million, of which SEK 6.7 million in the fourth quarter. Sales of our silica media NLAB Saga® were able to start during the summer after we finalized and approved significantly larger volumes of silica than before from our large-scale production facility.
Production of silica has continued to stabilize during the year, which has enabled us to deliver silica at market delivery times. Our main focusduring the fourth quarter has been to increase volumes. This work will continue in 2025 and also 2026 to meet the demand for our products and to manufacture with improved margins.
During and after the fourth quarter, we received additional orders from a recurring customer in China, who is a fast-growing peptide manufacturer. They use NLAB Saga® in the manufacture of several GLP-1 analogues and since June last year they have now placed five orders, at a total value of approximately SEK 18 million. This is a true testament to ourproduct being of high quality and competitive.
The market for silica for preparative chromatography in China is growing faster than our previous assessments. Growth is mainly driven by GLP-1 products sold in geographic markets that are not patented by Novo Nordisk and Eli Lilly. In addition, several Chinese pharmaceutical manufacturers are developing biosimilars* to GLP-1 analogues for the Chinese market. In China, the patent for semaglutide (the active ingredient in Ozempic® and Wegovy®) expires in 2026, opening the market to players other than Novo Nordisk. We believe this will drive up volumes, while an increased focus on costs for pharmaceuticals is to be expected, both of which are favorable factors for us.
When I summarize 2024, it is with a sense of joy and hopefulness, even though we are still facing challenges with things taking longer than we all want. Our products now being included in the manufacturing of GLP-1 analogues on an industrial scale is a validation that Nanologica has competitive products. Therefore, I am full of confidence that we in the coming years will establish ourselves as a recognized supplier of high-quality products and services in preparative chromatography and thus get closer to our vision of better and cheaper medicines to a larger number of patients.
Södertälje in February 2025
Andreas Bhagwani, CEO
*A biosimilar is a biological drug that contains a version of the active substance of an already approved biological drug. For biosimilars, shorter studies are required to get the drug approved compared to an original drug.
An interview with CEO Andreas Bhagwani regarding the year-end report will be published in the beginning of week 8.
For further information, please contact
Johanna Johansson
Director IR, Communications and Marketing
johanna.johansson@nanologica.com
+46 72 211 21 90
About Nanologica AB (publ)
Nanologica is a Swedish life science tools company that develops, manufactures, and sells advanced consumables to pharmaceutical manufacturers. Nanologica's products are specially developed for the purification of peptide drugs, such as insulin and GLP-1 analogues. Due to effective purification and a long lifetime for the products, they can increase productivity and reduce costs for pharmaceutical manufacturers. Nanologica operates in a global niche market that is growing as a result of increased demand for drugs for the treatment of diabetes and obesity. The company's mission is to increase access to cost-effective drugs through its purification products and thereby contribute to more patients around the world having access to life-saving treatments. The company is headquartered in Södertälje and Nanologica's share (NICA) is listed for trading on Nasdaq Stockholm Main Market. For further information, please visit www.nanologica.com.
