Board Change • May 20
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Rolf Lundh was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Ankündigung • May 15
Attana AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 232.253969 million. Attana AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 232.253969 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 7,741,798,950
Price\Range: SEK 0.03
Transaction Features: Rights Offering Reported Earnings • Nov 04
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr405.2k (down 76% from 3Q 2023). Net loss: kr4.18m (loss widened 59% from 3Q 2023). Reported Earnings • Aug 28
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr1.28m (down 9.8% from 2Q 2023). Net loss: kr4.03m (loss widened 19% from 2Q 2023). New Risk • Jul 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr9.0m free cash flow). Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (kr7.0m revenue, or US$664k). Market cap is less than US$10m (kr30.6m market cap, or US$2.90m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Recent Insider Transactions Derivative • Jun 17
Director exercised options to buy kr102k worth of stock. On the 14th of June, Lena Jendeberg exercised options to buy 1m shares at a strike price of around kr0.07, costing a total of kr82k. This transaction amounted to 82% of their direct individual holding at the time of the trade. Since December 2023, Lena has owned 1.44m shares directly. Company insiders have collectively bought kr120k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • May 05
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr2.57m (up 8.5% from 1Q 2023). Net loss: kr1.10m (loss narrowed 67% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 25
Full year 2023 earnings released: kr0.051 loss per share (vs kr0.07 loss in FY 2022) Full year 2023 results: kr0.051 loss per share (improved from kr0.07 loss in FY 2022). Revenue: kr7.10m (down 46% from FY 2022). Net loss: kr13.8m (loss narrowed 5.5% from FY 2022). New Risk • Feb 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 42% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr11m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m (kr5.8m revenue, or US$556k). Market cap is less than US$10m (kr33.0m market cap, or US$3.16m). Minor Risk Shareholders have been diluted in the past year (42% increase in shares outstanding). Board Change • Nov 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Rolf Lundh was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Sep 19
Attana Announces CEO Changes Marcus Söderberg has been appointed new CEO of Attana. He will replace Teodor Aastrup who will continue to work for the company, but in another role. Söderberg comes from a position as acting CEO of Telia Finance. He will assume his new position with immediate effect. Ankündigung • Aug 30
The Swedish Knowledge-Foundation Grants SEK 12 Million to Project Concerning Individual Immunity Profiles for Diagnostics and Medical Development Based on Attana's QCM Technology The Swedish Knowledge-Foundation has granted SEK 12 million to the project "Advanced materials for individualized medicine and diagnostics". The project is coordinated by Prof. Ian Nicholls at Linnaeus University in collaboration with Attana AB, AroCell AB, Capitainer AB, Luma Metall AB and Region Kalmar. The aim of the project is to provide precise information about the medical conditions of individuals and groups to optimize vaccination and medical treatment. It enables individuals, patients, care providers and decision makers, as well as researchers to optimize their decisions. The project includes the entire chain from sampling, via analysis to reporting. The project's participants gather expertise from the commercial and public sectors as well as researchers and developers. The project consists of four sub-projects: Biomarkers: Cancer biomarker detection - small cell lung cancer (Project manager: Ian Nicholls). Viruses: Virus-related diseases: e.g. COVID-19 and hepatitis (Project manager: Per Nilsson). Bacteria: Enhanced bacterial infection diagnosis - Lyme disease & E.coli related urinary tract infections (Project manager: Sofia Somajo). Tissue samples: Biosensor-based histology - glaucoma & macular degeneration (Project manager: Camilla Mohlin). Sub-project 1-3 builds directly on Attana's immunity profile concept and sampling with Capitainer's qDBS concept. New Risk • Jul 07
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: kr11m (US$994k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr17m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Revenue is less than US$1m (kr11m revenue, or US$994k). Market cap is less than US$10m (kr45.0m market cap, or US$4.10m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr25m net loss in 2 years). Shareholders have been diluted in the past year (30% increase in shares outstanding). Reported Earnings • Feb 26
Full year 2022 earnings released: kr0.07 loss per share (vs kr0.081 loss in FY 2021) Full year 2022 results: kr0.07 loss per share (improved from kr0.081 loss in FY 2021). Revenue: kr13.4m (up 56% from FY 2021). Net loss: kr14.6m (loss narrowed 12% from FY 2021). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Life Sciences industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Ankündigung • Feb 14
Attana AB Submits International Patent Application Attana has filed an international patent application with claims for methods for assessing the neutralizing potential of antibodies in biological samples. The application claims priority from the national application filed February 18, 2022 and designates all PCT contracting states. The invention is applicable in both of Attana's business areas - Life Science and Diagnostics. The patent application contains several claims assessing the neutralizing potential of antibodies or other biological entities in complex biological samples. The invention can be applied within diagnostics with the purpose to better determine the immunity of individuals based on several parameters, such as kinetics and titers of immune responding agents. Additionally, it can also be applied in both pre-clinical and clinical drug development to obtain increased information on human immune response, e.g. antibody-drug antibodies. The Attana patent application covers several aspects on assessing kinetics of an interaction between e.g, an antigen and an antibody as well as the combination with neutralizing titer. The work has been performed in collaboration with Prof. Ian Nicholls and Dr. Per Nilsson at the Linnaeus University. Ankündigung • Jan 05
Attana AB has completed a Follow-on Equity Offering in the amount of SEK 11.4 million. Attana AB has completed a Follow-on Equity Offering in the amount of SEK 11.4 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 63,590,331
Price\Range: SEK 0.179273
Transaction Features: Rights Offering Ankündigung • Dec 21
Attana Submits New Patent Application Regarding Neutralizing Effect in Complex Samples Attana has filed a new patent application with claims for methods for assessing the neutralising potential of antibodies in biological samples. The application is a further development of the applicable submitted previously this year. The inventionin both of Attana's business areas - Life Science and Diagnostics. Attana has filed a new patent application with several claims assessing the neutralising potential of antibodies or other biological entities in complex biological samples. The invention can be applied within diagnostics with the purpose to better determine the immunity of individuals based on several parameters, such as kinetics and titres of immune responding agents. Additionally, it can also be applied in both pre-clinical and clinical drug development to obtain increased information on human immune response. The application contains an increase quantitative focus of the neutralizing effect of complex samples such as whole blood, sera or plasma. The Attana patent application covers several aspects on assessing kinetics of an interaction between e.g., an antigen and an antibody as well as the combination with neutralizing titre. The work has been performed in collaboration with Prof. Ian Nicholls and Dr. Per Nilsson at the Linnaeus University. The ambition is to publish selected parts of the invention in one or more scientific publications. Reported Earnings • Nov 26
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr2.45m (up 19% from 3Q 2021). Net loss: kr3.83m (loss widened 27% from 3Q 2021). Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Life Sciences industry in Sweden. Price Target Changed • Nov 16
Price target increased to kr1.15 Up from kr1.05, the current price target is provided by 1 analyst. New target price is 324% above last closing price of kr0.27. Stock is down 74% over the past year. The company posted a net loss per share of kr0.081 last year. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Per Aniansson was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 27
Price target decreased to kr1.05 Down from kr1.65, the current price target is provided by 1 analyst. New target price is 24% above last closing price of kr0.85. Stock is down 47% over the past year. The company posted a net loss per share of kr0.081 last year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Per Aniansson was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: kr0.08 loss per share (down from kr0.062 loss in FY 2020). Revenue: kr9.15m (up 22% from FY 2020). Net loss: kr16.7m (loss widened 57% from FY 2020). Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 86%, compared to a 24% growth forecast for the pharmaceuticals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Ankündigung • Feb 19
Attana Submits New Patent Application Attana has filed a new patent application with claims for methods for assessing the neutralising potential of antibodies in biological samples. The invention is applicable in both of Attana's business areas - Life Science and Diagnostics. Attana has filed a new patent application with several claims assessing the neutralising potential of antibodies or other biological entities in complex biological samples. The invention can be applied within diagnostics with the purpose to better determine the immunity of individuals based on several parameters, such as kinetics and titres of immune responding agents. Additionally, it can also be applied in both pre-clinical and clinical drug development to obtain increased information on human immune response. The Attana patent application covers several aspects on assessing kinetics of an interaction between e.g., an antigen and an antibody as well as the combination with neutralizing titre. The work has been performed in collaboration with Prof. Ian Nicholls and Dr. Per Nilsson at the Linnaeus University. Selected parts of the invention will be published in one or more scientific publications, which will be submitted in the near future. Recent Insider Transactions • Dec 08
Chairman of the Board recently bought kr90k worth of stock On the 3rd of December, Arne Nabseth bought around 94k shares on-market at roughly kr0.96 per share. This was the largest purchase by an insider in the last 3 months. This was Arne's only on-market trade for the last 12 months. Reported Earnings • Nov 30
Third quarter 2021 earnings: Revenues exceed analyst expectations Third quarter 2021 results: Revenue: kr2.59m (up 71% from 3Q 2020). Net loss: kr3.03m (loss widened 32% from 3Q 2020). Revenue exceeded analyst estimates by 33%. Over the next year, revenue is forecast to grow 47%, compared to a 57% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a mediocre second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: kr2.28m (up 56% from 2Q 2020). Net loss: kr4.54m (loss widened 105% from 2Q 2020). Ankündigung • Jun 30
Attana Obtains CE-IVD Marking for Its First Products Within Clinical Diagnostics Attana has registered the AVA™ SARS-CoV-2 IgG Immunoassay and the analytical instrument Attana Cell™ 250 for CE-IVD Marking with the Swedish Medical Products Agency ("Läkemedelsverket"). The test and the instrument meet all applicable requirements for CE-IVD Marking, which allows Attana to start marketing and selling the products to clinical laboratories within the EU. The technical studies behind the CE-IVD Marking have been performed in Kalmar, Sweden in collaboration with the Linnaeus University and Region Kalmar. The studies include blood samples from 110 individuals, of which 52 had SARS-CoV-2 IgG antibodies, confirmed by independent ELISA tests. All serum samples were analyzed with Attana's CE-IVD Marked kits and compared with results from two ELISA-based tests. In addition, Attana has performed studies ensuring linearity, precision, reproducibility and other performance measurements in accordance with the relevant CE-IVD requirements. These studies have all shown very good results and will be presented in one or more scientific publications that are being prepared together with the Linnaeus University and Region Kalmar. Comparing Attana's method with ELISA: The major difference in Attana's method is that Attana immunoassays are performed in real time wheras other certified SARS-CoV-2 immunoassays are based on blood samples being incubated for several minutes prior to measurement. Attana's real-time analysis thus better mimics the conditions within the human body (in vivo) and accordingly likely provides more biologically relevant diagnostic data. Despite this methodological difference, Attana's SARS-CoV-2 IgG immunoassay shows similar sensitivity and specificity compared to the two ELISA methods as they do when compared to each other. Continued regulatory process: In addition to serum, Attana's test also allows for analysis of both whole blood (capillary fingerprick) and plasma, for research use. Attana will continuously update the CE-IVD Marking to also include these blood sample types. The ambition is to also seek regulatory approval for a quality assessment of SARS-CoV-2 IgG antibodies based on Attana's instruments and test kits. Reported Earnings • May 10
First quarter 2021 earnings released: kr0.017 loss per share (vs kr0.017 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: kr2.53m (up 262% from 1Q 2020). Net loss: kr3.47m (loss widened 18% from 1Q 2020). Ankündigung • Mar 11
Attana AB Announces Approval and Initiation of Clinical Phase I/II Study for the New COVID-19 Vaccine AdaptVac announced that the clinical trial application (CTA) for a clinical phase I/II study for their ABNCoV2 COVID-19 vaccine has been approved by the Central Committee on Research Involving Human Subjects (CCMO), in the Netherlands. During the development process, the vaccine has been analyzed and validated using Attana's QCM biosensor. AdaptVac initiates clinical phase I/II study for their new COVID-19 vaccine: The Central Committee on Research Involving Human Subjects (CCMM) in the Netherlands has approved the ABNCoV2 capsid virus-like particle (cVLP) based COVID-19 vaccine for clinical phase I/II study. The development was made possible by a collaboration between ExpreS2ion Biotechnologies, Bavarian Nordic, AdaptVac, University of Copenhagen, AGC, BioConnection and Radboud University Medical Center. Ankündigung • Feb 13
Attana Collaborates with Linnaeus University Toaccelerate the Development of Unique Antibody Tests for COVID-19 Attana announced that the company has strengthened its collaboration with the Linnaeus University to accelerate the development of unique antibody tests for COVID-19. Furthermore, the company moves forward with the regulatory efforts for AVA™ and implements a number of organizational changes aimed to establish an expert team leading the diagnostics initiative independent of Attana's ongoing operations. Strengthened collaboration with the Linnaeus University: The Linnaeus University in Kalmar installed its first Attana instrument as early as 2003, and in 2019 the university was granted funding from the Swedish Knowledge Foundation to in collaboration, with amongst others Attana perform research with ultra-sensitive sensors. Attana can announced that the company, within the framework of the above-mentioned project, will deepen its collaboration with the university. Attana will dedicate an applications specialist with a background in immunology to optimizing Attana's diagnostic platform's existing test for analysis of antibodies and immunity to SARS-CoV-2. This antibody test is expected to not only provide with binary yes or no answer to whether an individual has developed antibodies or not, but also the concentration and quality of these antibodies - something that Attana and the Linnaeus University could be the first ever to offer. The purpose of such a nuanced test is to eventually be able to draw conclusions about individuals' level of immunity. The research going forward is expected to determine exactly which components the AVA™ test kit should include and which test protocol the diagnostic platform should proceed with in order to obtain regulatory approval. Is New 90 Day High Low • Dec 22
New 90-day low: kr1.30 The company is down 34% from its price of kr1.99 on 23 September 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Life Sciences industry, which is down 1.0% over the same period. Ankündigung • Dec 18
Attana Completes FDA Medical Device Class 1 Listing and Facility Registration Attana announced that it has completed a Medical Device listing of Attana Ce 250 and a facility registratition of Attana, with the U.S. Food and Drug Administration (FDA). The facility registration and listing of Attana Cell 250 as a Class I device (510(k) exempt) are the first regulatory requirements for marketing Attanas instruments towards the clinical diagnostics market. In 2021, Attana intends to complement these by filing for an FDA approval of at least one complementary assay as a Class II device, subject to 510(k) clearance. Simultaneous to these efforts, Attana will evaluate the possibility of completing a similar regulatory process with the European Medicines Agency (EMA). Ankündigung • Dec 11
Attanas Record Publishes in IBI Shows Extraordinary Results Attanas track record was published in IBI (International Biophaaceutical Industry). The study evaluates the outcome of all the 77 drug candidates Attana has analyzed for customers in the pre-clinical phase. The result of the study shows Attana has had an accuracy of 100% in determining which candidates will succeed in clinical trials, outperforming the company's previously communicated expectations. The findings suggest that Attanas proprietary technology and validation process has improved clinical trial success rates by over 80%. If the accuracy of the results is scalable throughout the industry, it is facing a major increase in productivity and profitability, with Attana leading the way. Brief summary of the study: The challenge in developing new pharmaceutical drugs The average R&D cost for a pharmaceutical drug is approximately $2 billion, out of which roughly half is related to clinical trials. Only 1 out of 10 candidates that enter clinical trials successfully reach the commercial market, primarily as a result of poor testing and analysis in the pre-clinical phase. A solution for improving the R&D process With Attanas proprietary QCM technology and instruments, the company has the ability to analyze how a given pharmaceutical drug will interact with the human body by mirroring in vivo conditions. By evaluating efficacy and identifying potential side effects with great accuracy, Attana can classify the drug candidates as either promising or unqualified before entering clinical trials. A proven track record of success To date, Attana has analyzed 77 candidates of which 30 have been validated and determined to be promising, some after modifications based on Attanas recommendations. In a short period of time, 8 of the validated candidates have entered clinical trials and 6 out of 6 have successfully completed phase I. InDex Pharmaceuticals candidate, Cobitolimod, has already reached phase III after being validated by Attana in 2016. Of the 47 candidates classified by Attana as unqualified, none has entered clinical trials to the
companys knowledge. The track record shows Attanas accuracy of 100% in classifying candidates prior to clinical trials. Assuming the outcome
of Attanas validated candidates follows industry average transition rates for future phases, Attana has improved the overall clinical trial success rate by more than 80%. Ankündigung • Dec 05
Attana Receives Contract Research Order from Global Pharma Company Attana has received a new order for a contract research project. The order has been placed from an existing customer with main offices in Europe and is a result of a successful 2-year long collaboration. The company received its first order from the customer in March 2018 and following a successful first collaboration the same customer has since several contract research project. Reported Earnings • Dec 04
Third quarter 2020 earnings released: kr0.013 loss per share The company reported a solid third quarter result with improved revenues and control over expenses, though losses increased. Third quarter 2020 results: Revenue: kr1.51m (up 42% from 3Q 2019). Net loss: kr2.29m (loss widened 15% from 3Q 2019). Is New 90 Day High Low • Oct 21
New 90-day low: kr1.46 The company is down 23% from its price of kr1.90 on 23 July 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Life Sciences industry, which is up 9.0% over the same period. Ankündigung • Sep 30
Attana Submits A New Patent Application Attana has filed a new patent application with claims resulting in improved piezoelectric properties of piezoelectric resonators. The innovations are applicable to any piezoelectric resonator and show good prospects for commercialization both within Attana instruments and a broad range of other technological applications. Attana has filed a new patent application with several claims which result in improved piezoelectric properties of piezoelectric resonators. The proposed inventions increase the resonant frequency of a piezoelectric resonator by up to 50% while simultaneously improving the frequency stability by up to 10%. A piezoelectric resonator is an electromechanical component which generates or filters high frequencies. Piezoelectric resonators are found in a variety of devices ranging from consumer electronics, such as computers and mobile phones, to industrial test- and measurement equipment. The quartz crystal microbalance (QCM) technology employed by Attana, uses a piezoelectric resonator as a mass-sensitive sensor to characterize molecular interactions down to sub-nanogram levels, in biologically relevant environments. The general performance of a piezoelectric resonator is dependent on two key parameters: (1) the resonant frequency, f\o\, and (2) the frequency stability, Q factor. Conventionally, increasing the resonant frequency of a piezoelectric resonator is achieved by reducing the thickness of the piezoelectric material. However, a reduction in thickness results in reduced mechanical stability of the resonator, and subsequently, a reduction in Q factor. In other words, there is a trade-off between improved frequency and reduced stability. The novel piezoelectric material proposed by Attana is configured to have an improved shear wave velocity, simultaneously improving both the resonant frequency and the quality factor of the resonator. The invention is useful for improving the performance of piezoelectric resonators relating to QCM, as well as any other application which implements a piezoelectric resonator. Possible applications can include computer clock generators and other resonating systems, where a higher resonant frequency yields a higher clock rate and improved Q factor results in improved frequency stability. Likewise, the proposed resonator can be implemented in oscillator circuits of communication devices for improved signal selection over a narrower bandwidth resulting in improved information transfer. The Attana patent application covers: (1) a piezoelectric resonator, (2) a piezoelectric material for a piezoelectric resonator, and (3) a method for manufacturing a piezoelectric resonator. The claims have promising commercialization potential since the benefits can be achieved without significant increases in production costs. 