LUND, Sweden, Nov. 7, 2023 /PRNewswire/ --


            
              Third quarter                                                                                  
            
              January-September




             Net sales reached SEK 13.3 (18.5) million.
            The operating result totaled SEK -8.7 (-12.6) million.          Net sales reached SEK 35.1 (32.3) million.
               Earnings per share, basic and diluted, were SEK -0.06                                                             The operating result totaled SEK -34.3 (-46.6)
                                                                                                                                 million.
            Earnings per share, basic and
                                                                                                                                 diluted, were SEK -0.22
    (-0.08).
            Cash flow from operating activities totaled SEK -16.0                                              (-0.31).
            Cash flow from operating
                                                                                                                        activities totaled SEK -37.7
    (-6.0) million.                                                                                                    (-37.7) million.

CEO Comment

"The positive research results presented during the quarter contribute to us trusting our financial goals for 2026.. Sales in our own markets Sweden, UK and Iceland are doing very well, with a market share in Sweden that is one of the highest for several years. We are discussing constructive ways forward together with our current partners since sales outside of our own markets have been lower than expected. I am very pleased to see how the recent research findings have sparked an interest for Enzymatica and our technology from many different stakeholders around the worl," said Claus Egstrand, CEO, Enzymatica.

Significant events during the quarter

In August, the Medical University of Innsbruck, Austria, presented the findings from an in vitro study that explored the effect of ColdZyme on human cells infected with the influenza virus. The study shows that ColdZyme disrupts the infection cycle and restricts the spread of the virus to more cells. When ColdZyme was applied to infected cells, the viral load decreased by 99% compared with cells treated solely with saline solution. The researchers believe that ColdZyme would have a similar effect on other respiratory viruses.
In September, the University of Kent (United Kingdom) presented the initial findings from an ongoing in vivo study where athletes use ColdZyme or a placebo for symptoms of upper respiratory tract infections. The results show that ColdZyme statistically significantly reduces the quantity of rhinovirus, the most common cause of the common cold. Moreover, individuals who used ColdZyme demonstrated statistically significantly fewer sore throat symptoms compared with individuals who used a placebo. The study, which is designed as a prospective, placebo-controlled, double-blind, and randomized trial, will be completed in the first half of 2024.

Significant events after the quarter

No significant events have been reported after the quarter.

Other events during and after the quarter

An abstract regarding the ongoing study at the University of Kent has been accepted for presentation at the 7^th International Olympic Committee Conference on the Prevention Injury and Illness in Sport. The abstract will be also published in the British Journal of Sports Medicine.
The company is engaged in discussions with its partners regarding the launch in China and Japan. In the light of the recent research findings, optimal product claims and classifications are being evaluated.
The expansion of production capacity at the facility in Reykjavik has continued during the year and the facility is now ready to handle an extensive increase in capacity.
Lower than expected sales outside of Enzymatica's own markets (Sweden, UK, Iceland) has prompted discussions with the current business partners to explore constructive ways forward.

The full report is available on: www.enzymatica.com/investors/financial-reports

This information is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:30 a.m. CET on November 7, 2023.

For more information, please contact:

Claus Egstrand, Chief Executive Officer, Enzymatica AB
Phone: +44 7780 22 8385 | Email: claus.egstrand@enzymatica.com

Stefan Olsson, Communication Manager, Enzymatica AB
Phone: +46 708 55 11 85 | Email: stefan.olsson@enzymatica.com

Enzymatica AB is headquartered in Lund, Sweden, and is listed on Nasdaq First North Growth Market.
For more information, please visit www.enzymatica.se. Enzymatica's Certified Adviser is Erik Penser Bank.

The following files are available for download:


     
     https://mb.cision.com/Main/18091/3870569/2411671.pdf            The full report
                                                                         (PDF)



     
     https://mb.cision.com/Public/18091/3870569/a46529bc35211bda.pdf Press release
                                                                         (PDF)

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