NanoEcho (NANECH) Q4 2024 earnings summary

Executive summary

• Initiated clinical program for rectal cancer diagnostic system; first clinical data collected confirming nanoparticle detection in lymph nodes.

• Completed product development and received all regulatory approvals for clinical studies; system ready for patient use.

• Listed on Nasdaq First North Growth Market in August 2024; awarded "Nordic IPO of the Year 2024."

• Secured capital through oversubscribed rights issue, raising approximately 13.9 MSEK before costs.

• Strengthened quality assurance with ISO 13485 certification and quality agreements with key suppliers.

Financial highlights

• Q4 2024 net sales: 0 TSEK (0 TSEK Q4 2023); full year 2024 net sales: 0 TSEK (0 TSEK 2023).

• Q4 2024 net loss after tax: -3,509 TSEK (-4,194 TSEK Q4 2023); full year net loss: -15,146 TSEK (-14,434 TSEK 2023).

• Q4 2024 cash flow from operations: -1,587 TSEK (-3,799 TSEK Q4 2023); full year: -14,602 TSEK (-13,878 TSEK 2023).

• Cash and cash equivalents at year-end: 14,651 TSEK (14,082 TSEK 2023).

• Solidarity decreased to 56% (85% 2023) due to convertible loan; equity at year-end: 18,474 TSEK (18,496 TSEK 2023).

Outlook and guidance

• Focus remains on completing the dose-confirmation study and initiating the Proof-of-Concept study in 2025.

• Targeting regulatory approval for the diagnostic system in 2027, with initial commercialization in Europe.

• Plans to establish distributor partnerships and implement a pay-per-use business model.