Nanologica

FINANCIAL SUMMARY
• Net sales for the first quarter amounted to TSEK 355 (270)
• The operating loss for the quarter amounted to TSEK -10,720 (-15,592)
• Loss after tax for the quarter amounted to TSEK -12,094 (-15,915)
• Earnings per share before and after dilution were SEK -0.33 (-0.57) for the quarter
• Cash and cash equivalents amounted to TSEK 56,091 (3,939) as per March 31, 2023

CEO COMMENT
 Fine-tuning production
 
The company's absolute top priority in the beginning of the year has continued to be production. We have implemented fine-tunings in one of the process steps and evaluation of these is ongoing. We remain committed to ensuring that our product within preparative chromatography, NLAB Saga®, maintains the highest quality over time, and we will not deliver to customers until we are completely satisfied with the product. Even though it is taking more time than anyone would like, we are getting closer every day.
 
We are continuing our long-term and restrained strategy with a strong focus on cost control, which among other things means that development in Drug Development is held back. Most of our resources are focused on preparative chromatography in order to deliver products to waiting customers as quickly as possible.
 
During the spring and early summer, we will continue the launch and marketing of NLAB Saga®. During May and June we will participate in two major conferences within chromatography, TIDES USA and CPhI in China. During the first quarter, we were also able to visit China again and meet customers for the first time since the start of the COVID-19 pandemic. We could see that the activity in the peptide market in China has exploded and the interest in our silica (which is used in the purification of several types of peptides) is great. The customers who have previously evaluated our silica showed buying interest and those who have not yet tried the silica asked for samples to evaluate. This well reflects our view of the market and the need for additional producers of the type of high-quality silica that we produce.
 
Both as the company's CEO and as the third largest owner, I share the frustration that exists regarding it taking so long to deliver product to our customers, but I want to reiterate that we are getting closer every day. Once again, thank you for your patience – hang in there.
 
 
Södertälje in April
/Andreas Bhagwani, CEO