Today, August 23, 2018 AcouSort released its second quarter financial report. Link to the full report in Swedish may be found here: AcouSort – Q2 2018
Highlights from the report are:
First six months (2018-01-01 to 2018-06-30)
- Revenues KSEK 976 (1,142)
- Profits before tax KSEK -3,932 (-2,614)
Second quarter (2018-04-01 to 2018-06-30)
- Revenues KSEK 889 (732)
- Profits before tax KSEK -1,669 (-1,750)
(Amounts in parenthesis reflect same period 2017)
Highlights from the Second Quarter include:
- 4 April the subscription period for AcouSort’s rights issue commenced.
- 6 April the Company announced the awarding of the EU project BioWings where AcouSort will received EUR 180,000 over a four year period for testing new materials for generating ultrasound in its components.
- 10 April AcouSort announced the submission of a joint patent application with American based Instrumentation Laboratory.
- 24 April the result of the subscription of the rights issue was announced showing a subscription rate of 125%. The proceeds of the rights issue will be SEK 22.5 M before emission costs.
- 22 May AcouSort published its Annual report 2017
- 8 June it was announced that AcouSort and Instrumentation Laboratory (IL) signed a Royalty and Distribution agreement. After the successful completion of several joint feasibility projects exploring the application of AcouSort’s proprietary ultrasound-based technology for blood/plasma separation, IL will implement the technology to enable new features in some of its in vitro diagnostics systems.
This License and Distribution agreement with IL is a major first milestone for AcouSort in commercializing its ultrasound- based separation technology. The agreement is of significant value for AcouSort, with minimum royalty payments to reach several hundred thousand euro per year, but also important as a model for future license agreements within other application fields