Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Genovis AB Financial Report

Abstract:
Interim Report January-September 2010

Genovis AB Financial Report

Sweden | Posted on November 5th, 2010

THIRD QUARTER

• Net sales climbed to SEK 407k (238k)
• Loss after financial items dropped to SEK 2,874k (loss: 3,050k)
• Net loss for the period fell to SEK 2,863k (loss: 3,050k)
• Earnings per share increased to SEK -0.07 (-0.22)

YEAR TO DATE

• Net sales climbed to SEK 965k (508k)
• Loss after financial items dropped to SEK 8,023k (loss: 9,390k)
• Net loss for the period fell to SEK 7,991k (loss: 9,390k)
• Earnings per share increased to SEK -0.19 (-0.67)

Comments from the CEO

During the quarter we continued to work toward two of our short-term goals: to increase sales of products from the protein engineering portfolio and to intensify product development of multimodal nanoparticles. We've seen a clear increase in both the number of customers and sales during the year and we want to further accelerate the pace. To achieve this objective, during the third quarter we strengthened our sales organization and we chose to focus on new and existing customers among biotech and pharmaceutical companies. This category of customers primarily works with characterization of antibody molecules. They have relatively recently begun testing our enzymes from the protein engineering portfolio and they use them primarily for analysis at the discovery level. To increase volumes within this target group we are working with customer meetings and marketing with the aim of ensuring that our enzymes and methods will become the obvious choice. This standard will not only apply for early research projects, but continue as quality control during clinical trials, and later even in production of antibody-based drugs. One way to achieve this objective is to work on product development in close consultation with our customers. Such feedback has resulted in a new product, FragIT, which we are launching in November.

In September we presented the first results from the Sentinel node project at the World Molecular Imaging Congress (WMIC) in Kyoto, Japan. The need for new imaging technologies at the preclinical level is growing and it is encouraging to see that multimodal nanoparticles have the potential to contribute improved performance, higher resolution, and more reliable analysis. Genovis' product development of nanoparticles for multimodal imaging is progressing according to plan and is now in a phase when we are focusing on optimization of modalities, image interpretation, and targeting using antibody molecules. We have also expanded our partnership with Lund Bioimaging Center, our partner that we've been working with on the Sentinel node research project.

Overview of Operations

Genovis develops and sells innovative technologies that will facilitate our customers' preclinical* research. The products we have launched to date consist of nanostructures and enzymes (proteins). We conduct research and development projects that focus on design, production, and characterization of nanostructures. The nanostructures and methods that Genovis focuses on can be used as contrast in medical imaging and as carriers of various substances in the development of new drug delivery methods. Our customers are primarily within the life sciences industry and academic research. The Genovis operation largely consists of research and development of new technology, though we have initiated some sales over the past two years.

* "Preclinical studies" refers to pharmaceutical research carried out before a product is sufficiently documented to be studied in humans.

####

About Genovis
Genovis is a biotech company on the leading edge of nanotechnology and nanoparticles. The company’s patented nano-induced magnetic transfer (NIMT®) technology was developed to facilitate effective preclinical research for the life science industry. Genovis shares are listed on Nasdaq OMX First North and Thenberg & Kinde Fondkommission is our certified adviser.

For more information, please click here

Contacts:
Sarah Fredriksson
CEO, Genovis AB
Tel: +46 46 10 12 35

Copyright © Genovis

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

High-speed FM-AFM and simulation reveal atomistic dissolution processes of calcite in water July 28th, 2017

Atomic movies may help explain why perovskite solar cells are more efficient: SLAC's ultrafast 'electron camera' captures surprising atomic motions in these next-generation materials July 28th, 2017

Triple-layer catalyst does double duty: Rice, University of Houston produce robust catalyst to split water into hydrogen, oxygen July 28th, 2017

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Third Quarter Results July 27th, 2017

Nanomedicine

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Third Quarter Results July 27th, 2017

Physicists gain new insights into nanosystems with spherical confinement: Enormous potential for the targeted delivery of pharmaceutical agents and the creation of tailored nanoparticles July 27th, 2017

Shining rings: A new material emits white light when exposed to electricity: New synthetic approach could spark development of other dynamic materials July 24th, 2017

Scientists announce the quest for high-index materials: All-dielectric nanophotonics: The quest for better materials and fabrication techniques July 22nd, 2017

Announcements

High-speed FM-AFM and simulation reveal atomistic dissolution processes of calcite in water July 28th, 2017

Atomic movies may help explain why perovskite solar cells are more efficient: SLAC's ultrafast 'electron camera' captures surprising atomic motions in these next-generation materials July 28th, 2017

Triple-layer catalyst does double duty: Rice, University of Houston produce robust catalyst to split water into hydrogen, oxygen July 28th, 2017

Physicists gain new insights into nanosystems with spherical confinement: Enormous potential for the targeted delivery of pharmaceutical agents and the creation of tailored nanoparticles July 27th, 2017

Financial Reports

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Third Quarter Results July 27th, 2017

Nanometrics to Announce Second Quarter Financial Results on August 1, 2017 July 14th, 2017

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Second Quarter Results April 27th, 2017

Nanometrics to Announce First Quarter Financial Results on May 2, 2017 April 11th, 2017

Nanobiotechnology

Physicists gain new insights into nanosystems with spherical confinement: Enormous potential for the targeted delivery of pharmaceutical agents and the creation of tailored nanoparticles July 27th, 2017

Living computers: RNA circuits transform cells into nanodevices July 27th, 2017

Shining rings: A new material emits white light when exposed to electricity: New synthetic approach could spark development of other dynamic materials July 24th, 2017

Probiotics: Novel biosynthetic tool to develop metallic nanoparticles: This research article by Dr. Nida Akhtar et al has been published in Recent Patents on Drug Delivery & Formulation, Volume 11, Issue 1, 2017 July 20th, 2017

New-Contracts/Sales/Customers

Probiotics: Novel biosynthetic tool to develop metallic nanoparticles: This research article by Dr. Nida Akhtar et al has been published in Recent Patents on Drug Delivery & Formulation, Volume 11, Issue 1, 2017 July 20th, 2017

Here's a tip: Indented cement shows unique properties: Rice University models reveal nanoindentation can benefit crystals in concrete July 20th, 2017

NMRC, University of Nottingham chooses the Quorum Q150 coater for its reliable and reproducible film thickness when coating samples with iridium June 27th, 2017

Park Systems Introduces Park NX12 for Unsurpassed Affordable High Resolution NanoScale Imaging Required for Advanced Analytical Chemistry, Materials Research, and Multi-User Facility June 5th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project