Biovica International (BIOVIC) Q3 24/25 earnings summary

Executive summary

• DiviTum, a blood-based test for cancer monitoring, is supported by over 30 clinical trials and peer-reviewed publications, with strong clinical value.

• Q3 net sales doubled year-over-year to SEK 2,261 thousand, driven by US IVD test growth and pharma services.

• Major US insurance agreement and CLIA lab permit in New York enable full US market access for DiviTum TKa.

• Significant new partnerships in the US and Europe, including EuroBio Scientific and Outcomes4Me, expand commercial reach.

• Recent data at the San Antonio Breast Cancer Conference highlighted DiviTum's utility in metastatic and adjuvant breast cancer, expanding its market.

Financial highlights

• Q3 net sales: SEK 2,261 thousand (Q3 23/24: SEK 1,075 thousand); May–Jan net sales: SEK 6,287 thousand (5,391 thousand prior year).

• Q3 operating loss improved to SEK -22,183 thousand from SEK -27,848 thousand year-over-year.

• Cash and cash equivalents at period end: SEK 43,508 thousand (105,238 thousand prior year).

• Net operating cash flow improved from SEK -23 million to SEK -17 million, driven by cost reductions and higher sales.

• Earnings per share after dilution: Q3 -0.23 SEK (Q3 23/24: -0.44 SEK); May–Jan -0.74 SEK (-1.66 SEK).

Outlook and guidance

• Pipeline in pharma services expected to reach SEK 25 million by fiscal year-end, doubling from the start of the year.

• Liquidity is expected to be sufficient until summer 2025 based on current cash and sales forecast; active financing measures underway.

• Focus remains on improving cash flow, expanding the customer base, and launching a modified FDA-cleared test for the adjuvant setting.

• Ongoing discussions with major healthcare and diagnostic partners aim to expand U.S. market reach, especially among community oncologists.

• Efforts underway to achieve NCCN guideline inclusion and secure a companion diagnostic project with a tier one pharma company.