Diagonal Bio (DIABIO) Q3 2024 earnings summary

Executive summary

• Achieved first LAMPlifyⓇ platform sale to Technical University of Denmark, marking a key commercial milestone.

• Expanded into horse, swine, and fish farm diagnostics, with successful external validations for respiratory viruses in horses and pigs.

• Secured design protection for cartridge in China and patent approval for DNA/RNA detection in Mexico, strengthening IP portfolio.

• Initiated pilot partnerships with StallZet, Hunneberga Horse Stable, and Norwegian University of Life Sciences.

Financial highlights

• Net sales were 0 KSEK (0 KSEK year-over-year); capitalised development was 248 KSEK (781 KSEK year-over-year).

• Operating loss improved to -1,242 KSEK from -2,605 KSEK year-over-year.

• Cash flow for the quarter was -2,428 KSEK (-816 KSEK year-over-year); cash at period end was 1,730 KSEK (4,717 KSEK year-over-year).

• Investments in intangible assets totaled 102 KSEK (327 KSEK year-over-year); no tangible asset investments.

• Four employees at quarter end.

Outlook and guidance

• Focus remains on innovation, quality, and international expansion, targeting less regulated veterinary and agricultural markets.

• Ongoing pilot tests and partnerships expected to drive adoption and market entry for LAMPlifyⓇ.