Doubled Sales and Positive Earnings for the First Quarter

Enzymatica AB

STOCKHOLM, May 5, 2020 /PRNewswire/ -- First quarter           

• Net sales reached SEK 26.8 (13.3) million.           
• Result after tax came in at SEK 0.7 (-12.2) million.           
• Earnings per share, basic and diluted, were SEK 0.01 (-0.09).           
• Cash and cash equivalents were SEK 33.9 (53.9) million.

Significant events in Q1             

• Enzymatica doubled sales during the quarter driven by  extremely strong orders in March as a result of the coronavirus outbreak. This is also the first single profitable quarter for Enzymatica.           
• Enzymatica signed an exclusive 7-year agreement with Keyuan Xinhai (Beijing) Medical Products Trade Co. Ltd., a subsidiary of China's second largest pharmaceutical company, Shanghai Pharma, for marketing and sales of ColdZyme mouth spray in China. Under this agreement, Keyuan Trade guarantees orders of SEK 92 million for the first five years from the launch.           
• Enzymatica signed an agreement with Chemipal for marketing and sales of ColdZyme in Israel.           
• Enzymatica published favorable results from two user surveys with ColdZyme, one on children and one a review of prophylactic (preventive) use.            
• Enzymatica's Nomination Committee proposes resigning CEO Fredrik Lindberg to be elected as a member of the Board of Directors at the Annual General Meeting on May 5.           
• The European Patent Office issued a notice of allowance with the intention to grant Enzymatica's patent for the cod enzyme which is one of the key components in ColdZyme. The patent expires in 2035.

Significant events after the quarter