Announcement • Jun 05
Dignitana AB (publ) Announces Board Changes Dignitana AB (publ) at tis Extraordinary General Meeting held on June 5, 2025, resolved in accordance with the proposal from the shareholder Paxman AB (publ), that the Board of Directors shall consist of three ordinary members with no deputy Board members. Furthermore, the EGM to dismiss the Board members Klas Arildsson, Richard DiIorio, Lina Karlsson, Fredrik Lindgren, and Hope S. Rugo, MD. It was also resolved to elect Per-Anders Johansson, Richard Paxman, and Emelie Gustafsson as Board members for the period until the end of the next Annual General Meeting. Per-Anders Johansson was elected as Chairman of the Board. Reported Earnings • May 24
First quarter 2025 earnings released: kr0.023 loss per share (vs kr0.072 loss in 1Q 2024) First quarter 2025 results: kr0.023 loss per share (improved from kr0.072 loss in 1Q 2024). Revenue: kr22.1m (up 4.3% from 1Q 2024). Net loss: kr1.86m (loss narrowed 63% from 1Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Breakeven Date Change • May 22 The analyst covering Dignitana previously expected the company to break even in 2026. New forecast suggests losses will reduce by 69% to 2025. The company is expected to make a profit of kr17.0m in 2026. Average annual earnings growth of 99% is required to achieve expected profit on schedule.
Price Target Changed • May 12
Price target decreased by 65% to kr1.90 Down from kr5.50, the current price target is provided by 1 analyst. New target price is 17% below last closing price of kr2.28. The company is forecast to post a net loss per share of kr0.10 next year compared to a net loss per share of kr0.25 last year. Announcement • Mar 19
Paxman AB (publ) (OM:PAX) proposed to acquire Dignitana AB (publ) (OM:DIGN) from Agartha AB, UBS Financial Services Inc and others for Approximately SEK 150 million. Paxman AB (publ) (OM:PAX) proposed to acquire Dignitana AB (publ) (OM:DIGN) from Agartha AB, UBS Financial Services Inc. and others for Approximately SEK 150 million on March 18, 2025. As part of acquisition, Paxman AB will acquire all shares in Dignitana AB. As part of consideration, Paxman AB will issue 2.5 million newly issued shares at a ratio of 0.030744 per common equity of Dignitana AB (publ). The merger between Paxman and Dignitana creates a New Group which provides clear synergies through increased revenues and reduced costs through rationalization but also economies of scale. Upon completion of the Offer, the shareholders of Paxman will own approximately 88.5% of the votes and capital and the shareholders of Dignitana will own approximately 11.5% of the votes and capital of the New Group. Agartha AB, which controls approximately 29.8% of the total number of outstanding shares and votes in Dignitana, supports and has undertaken to accept the Offer. The acceptance period for the Offer is expected to commence on or around April 14, 2025 and end on or around May 5, 2025, with payment of consideration expected to be made on or around May 13, 2025. In the event that Paxman, in connection with the Offer or otherwise, becomes the owner of shares corresponding to more than 90% of the shares in Dignitana, Paxman intends to call for compulsory acquisition in accordance with the Swedish Companies Act (2005:551) in order to acquire all outstanding shares in Dignitana. In connection therewith, Paxman intends to promote the delisting of Dignitana's shares from Nasdaq First North.
The transaction is subject to Offer being accepted to the extent that Paxman becomes the owner of the equivalent of more than 90% of all outstanding shares in Dignitana, approval of the shareholders of Paxman at the extraordinary general meeting of Paxman AB, all necessary authorizations, approvals, decisions and other measures for the Offer and the acquisition of Dignitana are obtained on terms acceptable to Paxman, including approvals from the Inspectorate of Strategic Products and the corresponding authorities in the United Kingdom and Italy. The Offer has been preceded by Paxman conducting a limited due diligence review of Dignitana of a confirmatory nature. The expected completion of the transaction is May 5, 2025.
Advokatfirman Delphi KB acted as legal advisor to Paxman AB. Bergs Securities AB acted as financial advisor and issuing agent to Paxman AB. Advokatfirman Vinge KB act as legal advisor to Dignitana AB. Stockholm Corporate Finance AB act as financial advisor to Dignitana AB. Major Estimate Revision • Feb 27
Consensus EPS estimates fall from profit to kr0.10 loss, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from kr103.0m to kr106.0m. Now expected to report loss of -kr0.10 instead of kr0.00 per share profit. Medical Equipment industry in Sweden expected to see average net income growth of 27% next year. Consensus price target down from kr5.50 to kr5.30. Share price was steady at kr1.25 over the past week. Price Target Changed • Feb 24
Price target decreased by 7.0% to kr5.30 Down from kr5.70, the current price target is provided by 1 analyst. New target price is 334% above last closing price of kr1.22. Stock is down 31% over the past year. The company is forecast to post a net loss per share of kr0.10 next year compared to a net loss per share of kr0.25 last year. Reported Earnings • Feb 24
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: kr0.25 loss per share. Revenue: kr90.5m (up 5.1% from FY 2023). Net loss: kr19.2m (loss widened 11% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Medical Equipment industry in Sweden. Announcement • Dec 06
Dignitana AB (publ) to Report Fiscal Year 2024 Results on May 02, 2025 Dignitana AB (publ) announced that they will report fiscal year 2024 results on May 02, 2025 Major Estimate Revision • Nov 28
Consensus EPS estimates upgraded to kr0.20 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -kr0.30 to -kr0.20 per share. Revenue forecast unchanged from kr89.0m at last update. Medical Equipment industry in Sweden expected to see average net income growth of 41% next year. Consensus price target down from kr5.70 to kr5.50. Share price fell 5.0% to kr1.14 over the past week. Reported Earnings • Nov 22
Third quarter 2024 earnings released: kr0.019 loss per share (vs kr0.052 loss in 3Q 2023) Third quarter 2024 results: kr0.019 loss per share (improved from kr0.052 loss in 3Q 2023). Revenue: kr23.1m (up 3.9% from 3Q 2023). Net loss: kr1.55m (loss narrowed 58% from 3Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. New Risk • Aug 23
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -kr9.8m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (kr78.9m market cap, or US$7.68m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr9.8m). Shareholders have been diluted in the past year (14% increase in shares outstanding). Reported Earnings • Aug 23
Second quarter 2024 earnings released: kr0.14 loss per share (vs kr0.066 loss in 2Q 2023) Second quarter 2024 results: kr0.14 loss per share (further deteriorated from kr0.066 loss in 2Q 2023). Revenue: kr22.0m (up 4.5% from 2Q 2023). Net loss: kr11.5m (loss widened 146% from 2Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. New Risk • Aug 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr93.4m (US$8.93m) This is considered a major risk. Companies with a small market capitalization 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Market cap is less than US$10m (kr93.4m market cap, or US$8.93m). Minor Risk Shareholders have been diluted in the past year (14% increase in shares outstanding). Announcement • Jun 24
Dignitana AB (publ) Announces the Resignation of William Cronin as Deputy Chairman of the Board, Effective 24 June 2024 Dignitana AB (publ) announced that William Cronin, Deputy Chairman of the Board, has resigned from the Board of Directors. Citing personal reasons, his resignation takes effect 24 June 2024. New Risk • May 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 14% 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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (kr151.0m market cap, or US$14.2m). Announcement • May 24
Dignitana AB (Publ) Approves the Election of Fredrik Lindgren and Hope S. Rugo as Board Members Dignitana AB (publ) approved the election of Fredrik Lindgren and Hope S. Rugo as Board Members, at the AGM held on May 23, 2024. Announcement • Apr 25
Dignitana AB (Publ) Announces Chief Executive Officer Changes , Effective May 2, 2024 Dignitana AB announced that Catarina Mård Löwenadler, CEO of Dignitana, after consulting with the Board of Directors, will resign as CEO on 2 May 2024, and that Fredrik Jonsson will assume the position as new CEO on the same day. To ensure a smooth transition, Catarina Mård Löwenadler will remain at Dignitana for a period after Fredrik Jonsson has assumed the position of CEO of the Company. Fredrik Jonsson, who assumes the role of CEO on 2 May 2024, is an accomplished leader with a focus on entrepreneurship, sales, marketing, and strategy. With extensive experience in both large and small MedTech organizations, Fredrik brings valuable expertise to the Company. He comes most recently from the role as CEO of Spotlight-listed Alteco Medical AB, was previously CEO of Distributed Medical AB, and has held senior positions in companies operating in the fields of endoscopy and dentistry. Announcement • Apr 06
Dignitana AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 19.128698 million. Dignitana AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 19.128698 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 10,067,736
Price\Range: SEK 1.9
Transaction Features: Rights Offering Announcement • Mar 08
Dignicap Delta Study Underway in Brindisi, Italy Dignitana announces that Antonio Perrino Hospital in Brindisi, Italy has initiated a clinical study of the DigniCap Delta Scalp Cooling System which features advanced thermoelectric cooling. The FDA-cleared DigniCap Scalp Cooling System minimizes hair loss from chemotherapy for cancer patients with solid tumors such as breast, prostate, and gynecological cancers. Led by Dr. Dario Loparco, Breast Unit psycho-oncologist and DigniCap protocol manager at the ASL Brindisi Breast Unit, the study is focused on breast cancer patients being treated with one of the most challenging chemotherapy regimens for hair retention -- epirubicin, cyclophosphamide and docetaxel (EC-T). Dr. Loparco and the oncology team at Antonio Perrino Hospital have published three previous clinical studies using the legacy DigniCap C3 system. Those studies demonstrated DigniCap success rates of 71 percent, 71.7 percent, and 72.8 percent using a variety of chemotherapy regimens in breast cancer patients. Announcement • Feb 23
Dignitana AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 19.128698 million. Dignitana AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 19.128698 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 10,067,736
Price\Range: SEK 1.9
Transaction Features: Rights Offering Reported Earnings • Feb 19
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: kr0.25 loss per share (improved from kr0.34 loss in FY 2022). Revenue: kr86.1m (up 17% from FY 2022). Net loss: kr17.4m (loss narrowed 23% from FY 2022). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Announcement • Feb 12
Dignitana Announces DigniCap Delta Receives Market Approval in Japan Dignitana announced that DigniCap Delta received market approval in Japan from the Ministry of Health, Labor and Welfare (MHLW). In Japan, Dignitana will provide DigniCap Delta to Konica Minolta as a medical device manufacturer, and Konica Minolta will proceed as a market authorization holder (MAH) to expand into the Japanese market. Regulatory approval for medical devices in Japan is similar to the FDA clearance process for medical devices in the United States, it is a pathway in which quality, efficacy, and safety are examined and approved according to the classifications established by law. Based on Dignitana's distribution agreement with Konica Minolta, an initial order was placed in February and a second order for several devices will be placed in early spring 2024 to prepare for launch. With a primary market in the US, the FDA-cleared DigniCap Delta device uses industry-leading thermoelectric cooling to minimize hair loss that is a side effect of chemotherapy prescribed to treat solid tumors such as those from breast cancer, ovarian cancer and prostate cancer. Recognized internationally as a standard of care and quality of life advancement for cancer patients, scalp cooling is a treatment recommendation in the clinical practice guidelines published by National Comprehensive Cancer Network® (NCCN), European Society for Medical Oncology (ESMO), and Cancer Australia. It is available in cancer centers around the globe. Announcement • Jan 16
Dignitana Announces Preliminary Results of DigniCap Delta Study Demonstrates 79% Efficacy Dignitana announced that the Hospital de Clinicas in Montevideo, Uruguay has completed the first stage of a two-year investigational study of DigniCap efficacy in women with breast and ovarian cancer led by Dr. Gabriel Krygier, Director of the Department of Oncology at Hospital de Clinicas. Dr. Krygier reports the first phase of the study demonstrated a 79% success rate, with 19 of the 24 patients using DigniCap Delta retaining more than 50% of their hair (65-95%. Additionally, two patients lost 50% of their hair and three patients discontinued treatment due to cold intolerance during the study. The FDA-cleared DigniCap Scalp Cooling System minimizes hair loss from chemotherapy for cancer patients with solid tumors such as breast, prostate and gynecological cancers. Reported Earnings • Nov 17
Third quarter 2023 earnings released: kr0.052 loss per share (vs kr0.056 loss in 3Q 2022) Third quarter 2023 results: kr0.052 loss per share. Revenue: kr22.3m (up 20% from 3Q 2022). Net loss: kr3.69m (flat on 3Q 2022). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Medical Equipment industry in Sweden. Announcement • Oct 05
Dignitana AB Announces Palmetto GBA Approves First Local Coverage Determination for Scalp Cooling Therapy Dignitana AB announced that the Palmetto GBA Medicare Administrative Contractor (MAC) has issued a Local Coverage Determination (LCD) to provide coverage guidance for Scalp Cooling for the Prevention of Chemotherapy-Induced Alopecia. According to the final LCD guidance from Palmetto GBA, "the use of a scalp hypothermia device that has been approved by the United States (U.S.) Food and Drug Administration (FDA) for the prevention of chemotherapy-induced alopecia (CIA) shall be considered reasonable and necessary for patients with solid tumors." In addition, there were no changes between the Proposed LCD and the Final LCD. This is the first LCD that has been approved for scalp cooling and is a result of a request made to Palmetto GBA in February 2023 by Dignitana and Paxman. This important Palmetto LCD provides a pathway for successful reimbursement of Medicare scalp cooling claims for patients in the seven-state service area, effective November 12, 2023. Dignitana currently serves 37 locations within the Palmetto GBA jurisdiction. A MAC is a private healthcare insurer that has been awarded a geographic jurisdiction to process claims for Medicare beneficiaries. The Palmetto GBA services two jurisdictions in the US Medicare system covering seven states in the southern US: Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia. CMS assigns MACs the task of developing LCDs to describe reasonable and necessary services within the Medicare program. CMS also assigns MACs the tasks of developing coverage articles that give direction on how to bill or code for a service or to provide education on a specific topic. In the Billing and Coding Guide: Scalp Cooling for the prevention of Chemotherapy-InducedAlopecia, Palmetto GBA reaffirms guidance from CMS, "CMS Internet-Only Manual, Pub. 100-03, Medicare National Coverage Determinations (NCD) Manual, Chapter 1, Part 2, SS110.6 Scalp Hypothermia During Chemotherapy to Prevent Hair Loss is not a barrier to coverage or to pricing/payment of the Category III Temporary CPT®? codes for professional/facility services related to scalp cooling (CPT®? Codes 0662T and 0663T and 0663T). This action solidifying localized coverage further advances support for healthcare providers to receive reimbursement from Medicare to administer FDA-cleared scalp cooling therapy, such as The DigniCap Scalp Cooling System. Two separate CPT®? Category III Codes for "mechanical scalp cooling," 0662T and 0663 T, were issued by the AMA with an effective date of July 1, 2021. The CPT®? codes, coupled with coverage determinations such as the approved LCD, will expand patient access to scalp cooling and enable oncology providers to appropriately offer the service and bill for the resources required to administer scalp cooling therapy. Dignitana will use the approval of this LCD to form the strategy with other MACS around the country. Announcement • Aug 18
Dignitana AB Long-Term Study Demonstrates Safety and Efficacy of Scalp Cooling to Reduce Chemo Hair Loss Dignitana AB announced that a long-term study of The DigniCap Scalp Cooling System was presented by Dr. Hope Rugo at the Multinational Association of Supportive Care in Cancer Annual Meeting in June and has now been published in the journal Supportive Care in Cancer. With a five-year follow-up period, this is the first long term study of scalp cooling to be published. The DigniCap Long Term Safety study followed patients for five years to evaluate risk of metastases and concluded that: Scalp cooling using DigniCap in patients with early-stage breast cancer receiving taxane based neo/adjuvant chemotherapy is safe and effective. Recurrences occurred in a small number of patients as expected. No scalp metastases were observed. There is no evidence that scalp cooling increases the risk of scalp metastases. DigniCap is used to minimize chemotherapy induced hair loss in patients with solid tumor cancers. In 2015 the initial phase of this study led to DigniCap becoming the first scalp cooling device to receive FDA clearance, thereby introducing safe and effective scalp cooling to the United States. This pivotal trial achieved clinically superior results, with the majority of patients keeping at least 50% of their hair while undergoing chemotherapy. The pivotal trial was led by Dr. Hopeugo at UCSF with five pivotal trial sites: University of California San Francisco Comprehensive Cancer Center, San Francisco; Icahn School of Medicine at Mount Sinai, New York; University of California Los Angeles; and Weill Cornell Medical College, New York. Reported Earnings • Aug 18
Second quarter 2023 earnings released: kr0.066 loss per share (vs kr0.004 loss in 2Q 2022) Second quarter 2023 results: kr0.066 loss per share (further deteriorated from kr0.004 loss in 2Q 2022). Revenue: kr23.2m (up 27% from 2Q 2022). Net loss: kr4.66m (loss widened kr4.43m from 2Q 2022). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Jul 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr23m). Share price has been volatile over the past 3 months (9.5% average weekly change). Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (kr246.0m market cap, or US$23.4m). Reported Earnings • May 26
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: kr0.056 loss per share (improved from kr0.10 loss in 1Q 2022). Revenue: kr21.6m (up 36% from 1Q 2022). Net loss: kr3.94m (loss narrowed 40% from 1Q 2022). Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) exceeded analyst estimates by 40%. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 19
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: kr0.34 loss per share (improved from kr0.66 loss in FY 2021). Revenue: kr83.8m (up 47% from FY 2021). Net loss: kr22.4m (loss narrowed 48% from FY 2021). Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates by 70%. Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Feb 17
Dignitana AB (publ) to Report Fiscal Year 2022 Final Results on May 04, 2023 Dignitana AB (publ) announced that they will report fiscal year 2022 final results at 9:00 AM, Central European Standard Time on May 04, 2023 Reported Earnings • Nov 19
Third quarter 2022 earnings released: kr0.056 loss per share (vs kr0.21 loss in 3Q 2021) Third quarter 2022 results: kr0.056 loss per share (improved from kr0.21 loss in 3Q 2021). Revenue: kr21.7m (up 59% from 3Q 2021). Net loss: kr3.66m (loss narrowed 74% from 3Q 2021). Revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Nov 19
Dignitana AB Appoints Nomination Committee Dignitana AB has appointed the Nomination Committee for the Annual General Meeting to be held 25 May 2023. The Nomination Committee will consist of Greg Dingizian, Chairman of the Board and Owner of Agartha AB on closely related company’s mandate; Bo Lundgren, appointed by Swedbank Robur AB on closely related company mandate; Sussi Kvart representing Handelsbanken Microcap on closely related company mandate; and Klas Arildsson, Chairman of the Board of Dignitana AB. The nomination committee shall give proposals for chairman at the AGM, election, and remuneration of board members and, where applicable, remuneration for work in the board’s committees, election and remuneration of auditors and, where applicable, changes of principles for appointment of nomination committee. Announcement • Nov 17
Dignitana AB (publ) Hires Johan Johansson to Head Operations, Research and Development Dignitana AB (publ) has named Johan Johansson as Vice President of Operations, Research and Development. He begins the role immediately at the Company’s headquarters in Lund. Most recently Johansson worked at Additude AB supporting all stages of medical device development including medical device regulation and regulatory compliance. Previously he oversaw the development of three medical devices as Chief Technical Officer at BrainCool AB, which was a subsidiary of Dignitana AB until 2014. Prior to BrainCool, Johansson held various roles in Engineering, Research and Development at Baxter, Krohne and Gambro. Johansson holds a Master of Science in Engineering from Lund University. Dignitana Chairman of the Board Klas Arildsson had been serving as Interim Chief Operations Officer for the Company. With the addition of Johan Johansson to the Company, the COO assignment for Klas Arildsson has ended. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). Deputy Chairman and Senior Advisor of US Market & Reimbursement Strategies Bill Cronin is the most experienced director on the board, commencing their role in 2015. Independent Director Lina Karlsson was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Sep 28
Dignitana AB (publ) Launches DigniCap Direct Partner Portal Dignitana announced the launch of DigniCap Direct, a partner portal designed to provide added value to healthcare providers and facilitate the direct exchange of information between customers and the company. DigniCap Direct provides a streamlined process for healthcare providers to place orders and easily access DigniCap online training, clinical support, product information, and other account-specific documentation and resources. DigniCap Direct launched for US healthcare providers in September and distributors around the globe will be phased into the portal over the coming months. Reported Earnings • Aug 19
Second quarter 2022 earnings released: kr0.004 loss per share (vs kr0.15 loss in 2Q 2021) Second quarter 2022 results: kr0.004 loss per share (up from kr0.15 loss in 2Q 2021). Revenue: kr24.1m (up 71% from 2Q 2021). Net loss: kr232.0k (loss narrowed 98% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Buying Opportunity • May 24
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be kr8.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 6.0%. Revenue is forecast to grow by 101% in a year. Earnings is forecast to grow by 49% in the next year. Reported Earnings • May 20
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: kr0.10 loss per share (up from kr0.12 loss in 1Q 2021). Revenue: kr16.7m (up 27% from 1Q 2021). Net loss: kr6.51m (loss narrowed 15% from 1Q 2021). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 5.7%. Over the next year, revenue is forecast to grow 102%, compared to a 126% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 18
Dignitana AB (publ) Appoints Ulf Jönsson as Chief Financial Officer Dignitana AB (publ) announced Ulf Jönsson has been appointed Chief Financial Officer, effective 1 July 2022. He is currently Interim Group Operations Controller for Diab International AB and was previously CFO for MalmbergGruppen. He spent 10 years with global med tech Gambro AB as Controller and then Director of Finance prior to the Company's 2013 acquisition by Baxter. Buying Opportunity • May 02
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be kr8.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 214% in 2 years. Earnings is forecast to grow by 95% in the next 2 years. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). CEO & Director Bill Cronin is the most experienced director on the board, commencing their role in 2015. Independent Director Lina Karlsson was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Buying Opportunity • Apr 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be kr7.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 214% in 2 years. Earnings is forecast to grow by 95% in the next 2 years. Buying Opportunity • Mar 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be kr7.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. Earnings per share has declined by 10% per annum over the last 3 years. Buying Opportunity • Feb 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be kr7.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. Earnings per share has declined by 10% per annum over the last 3 years. Reported Earnings • Feb 18
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: kr0.66 loss per share (up from kr0.96 loss in FY 2020). Revenue: kr62.4m (up 34% from FY 2020). Net loss: kr43.1m (loss narrowed 19% from FY 2020). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 5.7%. Over the next year, revenue is forecast to grow 62%, compared to a 123% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Feb 16
Dignitana AB (publ.) Appoints Alf Christensson as Interim CFO, Effective March 1, 2022 Dignitana AB (publ.) has appointed Alf Christensson as Interim CFO of Dignitana. He will assume the role on March 1, 2022. Alf Christensson has most recently been CFO of Salix Group, part of the Swedish industrial group Volati AB, which is listed on Nasdaq Stockholm in the Large Cap segment. He previously served as CFO of Vlinge Group and held several leading roles in business and finance with Sony Ericsson. Announcement • Feb 03
Dignitana Appoints Catarina Mård Löwenadler as CEO The Board of Dignitana AB appoints Catarina Mård Löwenadler as the new CEO of Dignitana. She has extensive experience from leading positions in both MedTech and sales and will take over as CEO at the Annual General Meeting in May 2022. The company announces that Magnus Blixt, who was previously appointed CEO, chose not to take the role due to personal reasons. Catarina Mård Löwenadler has a background in MedTech and sales, among others, as CEO of Empower Health Care Solutions, which develops international reference data for clinical trials and reimbursement models in the United States. Catarina is Vice President of Global Business Development for Ottobock, an international orthopedic technology company. She has previously held several roles at IKEA of Sweden including VP Range & Supply and Deputy CEO. Catarina Mård Löwenadler is an authorized Orthopedic Engineer from Jönköping University and lives in Växjö. Reported Earnings • Nov 19
Third quarter 2021 earnings released: kr0.21 loss per share (vs kr0.18 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: kr13.7m (up 26% from 3Q 2020). Net loss: kr13.9m (loss widened 41% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Aug 22
Second quarter 2021 earnings released: kr0.15 loss per share (vs kr0.17 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: kr14.0m (up 23% from 2Q 2020). Net loss: kr9.66m (loss widened 1.4% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 24
Dignitana AB Launches New Initiatives to Support Reimbursement and Market Access Dignitana AB announced the launch of two key initiatives to support reimbursement and insurance appeals for U.S. providers of The DigniCap Scalp Cooling System. Executive Departure • May 28
Independent Director has left the company On the 20th of May, Ingrid Heiman's tenure as Independent Director ended after 3.2 years in the role. We don't have any record of a personal shareholding under Ingrid's name. A total of 5 executives have left over the last 12 months. Executive Departure • May 28
Independent Director has left the company On the 20th of May, Pontus Kristiansson's tenure in the role of Independent Director ended. We don't have any record of a personal shareholding under Pontus' name. A total of 5 executives have left over the last 12 months. Reported Earnings • May 22
First quarter 2021 earnings released: kr0.12 loss per share (vs kr0.23 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: kr14.2m (up 24% from 1Q 2020). Net loss: kr7.66m (loss narrowed 40% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 02
New 90-day low: kr7.84 The company is down 6.0% from its price of kr8.38 on 02 December 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 9.0% over the same period. Reported Earnings • Feb 21
Full year 2020 earnings released: kr0.96 loss per share (vs kr0.76 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: kr46.6m (up 15% from FY 2019). Net loss: kr53.0m (loss widened 39% from FY 2019). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 06
New 90-day high: kr8.94 The company is up 11% from its price of kr8.06 on 08 October 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Medical Equipment industry, which is up 16% over the same period. Announcement • Jan 05
Dignitana AB Announces Highly Recognized Mammazentrum Hamburg Is Upgrading Their Existing Scalp Cooling Program to the Next Generation Dignicap Delta System Dignitana AB announced that the highly recognized Mammazentrum Hamburg is upgrading their existing scalp cooling program to the next generation DigniCap Delta System. In January eight DigniCap Delta units will be added to the breast cancer center with the support of the non-profit foundation Stiftung Mammazentrum Hamburg. Mammazentrum Hamburg has selected DigniCap Delta based on improved patient outcomes, ease of use for clinical staff, and the hygienic benefits presented by the single-patient cap system especially in light of COVID-19 protocols. The Mammazentrum Hamburg located at the Jerusalem Hospital has offered DigniCap to patients since 2012, providing a clinically-proven means to minimize hair loss from chemotherapy and a significant improvement in quality of life during cancer treatment. Mammazentrum Hamburg at the Jerusalem Hospital is one of Germany's most renowned contact points for breast cancer patients, bringing together the skills of renowned scientists under one roof. Quality assurance and active quality management are top priorities at Mammazentrum along with exemplary patient care. In 2012 Mammazentrum Hamburg at the Jerusalem Hospital was the first institution in Hamburg to be awarded with the "European Cancer Care Certificate. Announcement • Dec 03
GenesisCare selects Dignitana as Preferred Scalp Cooling Provider for its Rapidly Expanding Australia Medical Oncology Centres Dignitana has been selected as the preferred scalp cooling provider by GenesisCare. This is company's largest single commitment for DigniCap Delta units since the next generation device launched in 2019. The DigniCap Scalp Cooling System minimizes hair loss from chemotherapy in patients with solid tumors. The partnership will see the roll out of DigniCap Delta systems across GenesisCare's seven pre-existing medical oncology facilities in Australia. DigniCap systems will then be installed over the next two to three years at additional GenesisCare facilities in Australia as those locations begin to provide chemotherapy. Announcement • Oct 13
Cancer Leader City of Hope Selects Dignitana AB (Publ.) for Community Network in California Dignitana AB announced that City of Hope has selected DigniCap as the scalp cooling provider of choice for its community network of 12 cancer treatment centers in California. The DigniCap[®] Scalp Cooling System minimizes hair loss from chemotherapy in patients with solid tumors. City of Hope National Medical Center in Duarte, California has used DigniCap since 2016 and in March 2020 DigniCap was installed at the newly constructed Newport Beach location. DigniCap will be available in City of Hope's South Pasadena and Santa Clarita infusion centers before the end of the year, with additional locations receiving DigniCap next year. Announcement • Sep 22
Dignitana AB Announces Agreement with ION Solutions Dignitana AB announced an agreement with ION Solutions (ION) to easily provide DigniCap to oncology practices that are members of the ION Group Purchasing Organization (GPO). The DigniCap Scalp Cooling System minimizes hair loss from chemotherapy in patients with solid tumors. ION Solutions is the largest physician service organization and group purchasing organization specializing in the support of community oncology practices. Approximately half of the private practice oncologists in the U.S. from over 1,100 medical practices utilize GPO services from ION. The company is dedicated to offering providers the tools necessary to maintain the highest quality patient care available. Dignitana is the world leader in scalp cooling innovation providing the DigniCap Scalp Cooling System in 30 states in the U.S. and 40 countries around the globe. 