Inhalation Sciences Sweden AB (publ) releases Annual Report 2019
(Stockholm, Sweden, April 20, 2020) Inhalation Sciences AB has released its Annual Report which is now available on its website. Read CEO Manoush Masarrat’s statement on the year here.
With this Annual Report, we bring 2019 to a close and add it to our record. In many respects it was a fantastic year and we were able to report many important milestones.
Sales increased significantly; driven by the great interest we see among our customers for our unique technology, and this is reflected in a significantly improved result. Helped by the possibility of furthering divestment of our holdings in Ziccum, we arrive at the beginning of 2020 in a stable financial situation.
Yet we are only at the beginning of our journey - and we have a lot of exciting activities ahead of us. During the first quarter of 2020, we launched our unique in vitro module, DissolvIt®. Initial completed studies show a good correlation between the data generated with DissolvIt and what happens in vivo. This is a strong complement to the PreciseInhale platform, it will enable real in-vitro in-vivo correlation (IVIVC), a highly sought-after tool in the inhalation industry.
In 2019 we also begun work on validating PreciseInhale for clinical use, with the aim of completing this important study before the end of 2020. There is a risk however, that the COVID-19 outbreak may cause delays to this clinical trial.
We’re following events around COVID-19 closely with regard to our business development, and we’re taking active measures to minimize the impact on the company's operations. We’re following guidelines from Folkhälsomyndigheten, the Swedish Public Health Authority, the WHO and ECDC (the European Center for Disease Prevention and Control).
If the COVID-19 outbreak lasts for an extended period, the company's operations are likely to be adversely affected. For example, canceled conferences and travel restrictions limit the company's ability to meet new and existing customers, which in turn may affect the conditions we need to execute and deliver on our 2020 sales plan. In order to adapt to the prevailing circumstances, layoffs of employees and consultants may be necessary until the situation stabilizes again.
Despite the challenges facing the whole world and our industry, I am hopeful and have strong confidence in ISAB's capabilities, our world-leading and unique products and our fantastic team.
Huddinge, April 20, 2020
Read the full report in Swedish HERE.
For more information about Inhalation Sciences, please contact: Manoush Masarrat, CEO E-mail: Manoush.email@example.com Mobile: +46 (0)73 628 9153Press release in PDF formatPress release in PDF format