Dignitana AB Publishes Q4 2021 Interim Report

Continued US growth fuels 25 percent revenue increase
Financial highlights Q4 2021
  • Net sales amounted to 16.2 MSEK (12.9), an increase of 25 percent over the same period 2020.
  • Operating result amounted to -11.4 MSEK (-19.7).
  • Net result after financial items amounted to -11.8 MSEK (-20.8).
  • Earnings per share were -0,18 SEK (-0,37).
  • Cash Balance amounted to 14.5 MSEK (78.8).
  • Average Daily Treatment Revenue (ADTR)* was 155 TSEK (130), an increase of 19 percent over the same period in 2020.
Financial highlights January – December 2021
  • Net sales amounted to 57.1 MSEK (46.6), an increase of 22 percent over the same period 2020.
  • Operating result amounted to -41.6 MSEK(-50.7).
  • Net result after financial items amounted to -43.1 MSEK (-53.0).
  • Earnings per share were -0,66 SEK (-0,96).
  • Cash Balance amounted to 14.5 MSEK (78.8).
  • Average Daily Treatment Revenue (ADTR)* was 147 TSEK (120), an increase of 22 percent over the same period in 2020.
  • Impacting operating results, the Company has taken non-recurring cost of 9.6 MSEK in 2021 related to Quality System and Market Access improvements.

Significant events during the period

  • Dignitana announced a decision from Medicare enabling reimbursement to cancer centers providing DigniCap to chemotherapy patients in the US effective 1 January 2022.
  • In December Dignitana CEO William Cronin notified the Board of Directors of his intention to resign as CEO in May.

Business highlights during the period

  • Five DigniCap patients were recognized as DigniCap Dignitaries during Breast Cancer Awareness month and interviewed in weekly Facebook Live broadcasts in October.
  • Dignitana CEO William Cronin spoke at Erik Penser Bank’s Bolagsdag in November 2021, addressing the Company’s overall growth strategy and the significance of recent reimbursement initiatives in the US, including the January 2022 Medicare classification for scalp cooling.
  • Dignitana exhibited at the San Antonio Breast Cancer Symposium in December.

Significant events after the period

  • The Board appointed Catarina Mård Löwenadler as the new CEO of Dignitana. She has extensive experience from leading positions in both MedTech and sales and will take over as CEO after the Annual General Meeting in May.
  • The company had previously announced that Magnus Blixt would become CEO, however he chose not to take the role due to personal reasons.
  • The company named Alf Christensson as Interim CFO and he will assume the role 1 March 2022.

Business highlights after the period

  • Dignitana CEO William Cronin will address the Stockholm Corporate Finance Life Science Capital Markets Days on 9 March, providing an update on the company’s strategic growth and discuss current reimbursement initiatives.
  • Continuing the partnership with Susan G Komen®, in March Dignitana will sponsor the More than Pink Walk in Orlando, Florida.

Key Figures

DIGNITANA GROUP Q4 2021 Q4 2020 Full year 2021 Full year 2020
Net sales, TSEK 16 213 12 928 57 073 46,629
Total revenues, TSEK 17 322 13 006 62 376 49,956
Net profit after financial items, TSEK -11 836 -20 821 -43 076 -52,963
Cash and bank balances, TSEK 14 501 78 770 14 501 78,770
Earnings per share before and after dilution, SEK -0,18 -0,37 -0,66 -0,96
Average Daily Treatment revenue*, TSEK 155 130 147 120

* ADTR includes pay-per-treatment revenue from patients and facilities in the U.S. Does not include lease revenue or disposable sales.

"During these challenging times our company has continued to  grow and adapt to the unique and generational challenges we face." -William Cronin, CEO Dignitana AB

All financial reports are available at www.dignitana.com/investor-relations/financial-reports/

This disclosure contains information that Dignitana AB 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 17-02-2022 08:00 CET.

For More Information Contact 

Melissa Bourestom, VP Corporate Communications,  melissa.bourestom@dignitana.com  +1 469-518-5031

About Dignitana

Dignitana AB is the world leader in clinically superior scalp cooling technology. The company produces The DigniCap® Scalp Cooling System, a patented medical cooling device that offers cancer patients the ability to minimize hair loss during chemotherapy. FDA cleared since 2015, DigniCap provides continuous cooling with high efficacy, safety and patient comfort. Hailed internationally as a life-changing medical advancement for cancer patients, The DigniCap Scalp Cooling System was invented in 1999 by a Swedish Oncology nurse and has been available in Europe since 2001.  Dignitana AB is listed on Nasdaq First North Growth Market in Sweden with headquarters in Lund, Sweden and US operations in Dallas, Texas in the United States.  Company subsidiaries are Dignitana, Inc. in the United States and Dignitana S.r.l. in Italy. Certified Adviser is Redeye AB +46 8 121 576 90, certifiedadviser@redeye.se. Learn more at www.dignitana.com or www.dignicap.com