FINANCIAL SUMMARY
- Net sales for the second quarter amounted to SEK 2,335 thousand (2,174) and for the first half of the year to SEK 13,087 thousand (7,211)
- Operating loss for the quarter amounted to SEK -10,763 thousand (-9,832) and for the half-year to SEK -20,004 thousand (-25,163)
- Loss before tax for the quarter amounted to SEK -12,312 thousand (-11,126) and for the half-year to SEK -22,483 thousand (-27,860)
- Earnings per share before and after dilution were SEK -0.14 (-0.25) for the quarter and SEK -0.28
(-0.67) for the half-year. - Cash and cash equivalents as of June 30, 2025 amounted to SEK 26,378 thousand (15,076).
EVENTS DURING THE SECOND QUARTER
- In April, an order was received for NLAB Saga® from a new customer in China, with a value of approximately SEK 1.7 million. The customer is a large pharmaceutical manufacturer, and the order relates to the evaluation of NLAB Saga® on a production scale.
- In April, Nanologica's main owner, Flerie Invest AB, acquired additional shares in Nanologica, which triggered a mandatory bid obligation. In May, Flerie Invest made a mandatory offer of SEK 1.00 per share, with an acceptance period from June 17 to July 15. Flerie Invest has stated that the increase in ownership in Nanologica was not motivated by any ambition to acquire all shares in the company. The board of directors of Nanologica has unanimously recommended the company's shareholders not to accept the offer.
- In June, an order was received for NLAB Saga® from a new customer in the US, at a value of approximately SEK 1.3 million. This is Nanologica's first order in the North American market for evaluation of the company's silica on a production scale.
CEO COMMENT
As expected, the second quarter was not as strong in terms of sales as the first. However, we are making clear progress in our work to streamline the production process, which will generate positive effects over time. We also received our first order from the US for testing NLAB Saga® on a production scale.
The company's top priority continues to be the production of NLAB Saga®. During the quarter, we have introduced techniques to increase the share of our most requested product type in production, the one used in the purification of GLP-1 analogues. We have also continued the commissioning of new equipment in one of the production stages and we now expect this to generate increased product volumes going forward.
During the quarter, we have had our staff on site at our contract manufacturer to a greater extent than before and we are working closely together on these improvement processes in order to achieve a more efficient and predictable production. Our presence on site speeds up the work and increases our understanding of the adjustments that need to be made.
Net sales for the first half of the year amounted to SEK 13,087 thousand, of which the second quarter SEK 2,335 thousand. This was in line with our expectations as we have only had limited amounts of our most demanded product to offer to customers. Production is ongoing and we expect to gradually have larger product volumes to sell again during the second half of the year.
During the quarter, we received two very interesting orders. One came from a new customer in China, who we have worked on for a long time. This customer manufactures GLP-1 analogues, among other things, and is a significantly larger pharmaceutical manufacturer than some of the other customers we have delivered to. As NLAB Saga® performed so well in their initial evaluations, they have now decided to evaluate the product on a production scale. The second order was received from a new customer in the US. This order also concerns the evaluation of NLAB Saga® on a production scale and is an important step for us, as it is our first order of this type on the US market. Both of these orders will be delivered during the third quarter.
In addition to our main focus on large-scale production of NLAB Saga®, we are running two development projects with great potential in our lab in Södertälje. One project aims to refine by-products from the large-scale production of NLAB Saga®. Here we have now moved from an experimental phase to ensuring a stable process to be able to sell requested products. We have customers who have shown interest in the products, and this has the potential to be a valuable addition to the revenues for the company. The second project is NLAB® Idun, a non-silica-based purification media that is a complement to NLAB Saga® in the purification of peptide-based drugs. By complementing our offering with NLAB® Idun, we will be able to offer our customers a complete workflow for purification of peptide-based drugs.
In terms of the company, we are in the middle of the bidding process that was triggered in April by our main owner, Flerie Invest, increasing its shareholding. Our board of directors unanimously recommends the company's shareholders not to accept the offer. As the third largest shareholder in Nanologica, I will not accept it as the price does not reflect the value or the amazing potential the company has.
Despite a relatively weaker second quarter regarding sales, we are moving in the right direction. With the improvements we are now making at our contract manufacturer, we will reach a considerably higher production rate. I therefore continue to have a positive view on the development and future for the company, and I would like to thank you shareholders once again for your patience.
Södertälje in July
Andreas Bhagwani, CEO
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.
This information is information that Nanologica AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-10 08:10 CEST.
