Dignitana AB Publishes 2020 Year End Report

Agility and adaptability support strategic growth

Financial highlights Q4 2020

  • Net revenue amounted to 12,9 MSEK (9,6), an increase of 35 percent over the same period 2019 and an increase of 19 percent over the third period of 2020.
  • EBITDA amounted to -10,8 MSEK (-11,4).
  • Net result after taxes amounted to -20,8 MSEK (-15,1).
  • Earnings per share was -0,37 SEK (-0,27).
  • Cash Balance amounted to 78,8 MSEK (19,4).
  • Average Daily Treatment Revenue (ADTR)* was 130 TSEK (105),an increase of 23 percent over the same period in 2019 and an increase of 20 percent compared to the third quarter of 2020.
  • Write down of inventory and C3 devices in the amount of 7,8 MSEK.

Financial highlights Full Year 2020

  • Net revenue amounted to 46,6 MSEK (40,7), an increase of 15 percent over 2019.
  • EBITDA amounted to -29,9 MSEK (-26,3).
  • Net result after taxes amounted to -53,0 MSEK (-38,0).
  • Earnings per share was -0,96 SEK (-0,76).
  • Cash Balance amounted to 78,8 MSEK (19,4).
  • Average Daily Treatment Revenue (ADTR)* was 121 TSEK (98), an increase of 23 percent over 2019.
  • Write off inventory and C3 devices 7,8 MSEK.

Significant events during the period

  • The Company announced that the American Medical Association will issue CPT® codes for scalp cooling effective 1 July 2021. This provides a pathway to reimbursement and creates significant opportunity for the Company’s growth.
  • Dignitana announced a directed share issues of SEK 75 million before issue cost to accelerate growth and strategic transition to DigniCap.
  • Dignitana announced the decision to write-off the value of all C3 devices in the amount of approximately 7,8 MSEK.

Business highlights during the period

  • City of Hope selected DigniCap as the scalp cooling provider for 12 cancer treatment centers in California.
  • GenesisCare selected Dignitana as preferred scalp cooling provider for its rapidly expanding Australia medical oncology centres.

Significant events after the period 

  • Dignitana announced that the Extraordinary General Meeting on January 11 approved the Board of Directors’ resolution on the directed issue of shares made on 22 December 2020.

Business highlights after the period

  • Mammazentrum Hamburg selected DigniCap Delta to provide upgraded scalp cooling therapy.
  • Dignitana announced the specific CPT codes for DigniCap which will be available to patients on 1 July 2021.
  • The Company highlighted new clinical guidelines from leading oncology organizations around the world which recommend scalp cooling.
  • The Company has repaid in full the 20 MSEK unsecured loan received from Adma Förvaltnings AB in the third period of 2020.

Key Ratios


Q4 2020 Q4 2019 Full year 2020 Full year 2019
Net revenues, TSEK 12 928 9 572 46 629 40 699
Total revenues, TSEK 13 006 10 062 49 956 42 546
Net profit after financial items, TSEK -20 821 -15 060 -52 963 -37 950
Cash and bank balances, TSEK 78 770 19 433 78 770 19 433
Earnings per share before and after dilution, SEK -0,37 -0,27 -0,96 -0,76
Average Daily Treatment Revenue* TSEK 130 105 120 98

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


”The Company’s agility and adaptability have helped Dignitana to not just survive during the pandemic, but also to thrive as we strategically move toward attaining our operational and financial goals.“
-William Cronin, CEO Dignitana AB

The full report is attached to this release. All financial reports are available at www.dignitana.com/investor-relations/financial-reports/


Dignitana announces that as of 15 April 2021 the company will only provide press releases and interim reports in English. The company's annual reports will continue to be published in both Swedish and English.

Dignitana meddelar att bolaget från och med 15 april 2021 endast kommer att tillhandahålla pressmeddelanden och delårsrapporter på engelska. Bolagets årsredovisningar kommer även  fortsättningsvis att publiceras på både svenska och engelska.

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 18-02-2021 08:30 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 operations based 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.se or www.dignicap.com