Diagonal Bio AB: Diagonal Bio publishes Year-End Report for 2024

Diagonal Bio AB (publ) (“Diagonal Bio” or “the Company”) hereby publishes its year-end report for the financial year 2024. Below is a brief summary. The full year-end report is available on Diagonal Bio’s website (www.diagonalbio.com) and as an attached file.

Summary of the year-end report for 2024

2024-10-01 – 2024-12-31 (October- December 2024)

Net sales amounted to 62 KSEK (23 KSEK), capitalised development contributed with 281 KSEK (405 KSEK), and other operating income amounted to 1 KSEK (7 KSEK).
Operating loss amounted to -2 260 KSEK (-2 530 KSEK).
Operating profit per net weighted average share amounted to -0.01 SEK (-0.06 SEK).
Cash flow during the fourth quarter amounted to -911 KSEK (-1 745 KSEK).
Cash and cash equivalents at the end of the period amounted to 818 KSEK (2 972 KSEK).

2024-01-01 – 2024-12-31 (January – December 2024)

Net sales amounted to 62 KSEK (23 KSEK), capitalised development contributed with 1 063 KSEK

(3 128 KSEK), and other operating income amounted to 6 KSEK (25 KSEK).

Operating loss amounted to -9 930 KSEK (-11 678 KSEK).
Operating profit per net weighted average share amounted to -0.04 SEK (-0.32 SEK).
Cash flow during the period amounted to -2 154 KSEK (-10 613 KSEK).

Significant events during the fourth quarter of 2024

On 3 October, Diagonal Bio announced its partnership with StallZet and horse trainer Daniel Redén will conduct a pilot test using LAMPlify®.
On 8 October, Diagonal Bio announced that Hunneberga Horse Stable (Hunneberga Hästgård) initiated a partnership with Diagonal Bio to conduct a pilot test using LAMPlify®.
On 11 October, Diagonal Bio announced the successful external validation of LAMPlify® for viruses in pigs.
On 25 October, Diagonal Bio announced a pilot test of LAMPlify® at Norwegian University of Life Sciences.
On 31 October, Diagonal Bio announced that it had entered into a partnership with Gocksta Stuteri to conduct a pilot study of LAMPlify®.
On 13 November, Diagonal Bio announced that it had entered into a partnership with Stall Kolgjini to conduct pilot testing of LAMPlify®.
On 22 November, Diagonal Bio announced that Madeleine Smith had initiated a pilot test of LAMPlify®.
On 23 December, the Company announced that Daniel Redén, a well-known horse trainer at StallZet, has entered into a partnership with Diagonal Bio and will act as a marketing partner for the Company to enhance the commercialisation plans for the Company’s platform, LAMPlify®️.
On 23 December, Diagonal Bio also announced that the Board of Directors had decided on a directed issue of units to Svea Bank AB and Daniel Redén and a rights issue of units. The purpose of the issues was to provide funds to focus on validating the commercial interest of LAMPlify®.

Significant events since 31 December 2024

On 14 January, Diagonal Bio announced that it had expanded its equine diagnostic test panel to include detection of equine herpesvirus type 5 (EHV-5), following a recommendation from Daniel Redén.
On 29 January, Diagonal Bio announced an order worth approximately SEK 150,000 from Daniel Redén. The order came as a result of the successful completion of the pilot test that started in October 2024 and includes the purchase of LAMPlify® together with associated consumables.
On 5 February, Diagonal Bio announced that the Company had signed an agreement with Stall Goop to conduct a pilot test of LAMPlify®.
On 7 February, the Company announced the outcome of the previously communicated rights issue of units. The rights issue was subscribed to a total of approximately 122 per cent including subscription commitments, which means that no guarantee commitments have been exercised.
On 12 February, Diagonal Bio announced that CEO Karin Wehlin, directly and through a wholly owned company, had purchased 8,500,000 shares in the Company for a total price of approximately SEK 170,000.
On 3 March, the Company announced that the Board of Directors had decided to apply for listing on NGM Nordic SME, based on the assessment that the move from Nasdaq First North Growth Market to NGM Nordic SME will result in lower costs and thus opportunities for Diagonal Bio to allocate more of the available capital to marketing and sales.
On 13 March, the Company announced that Diagonal Bio and Stall Courant, owned by Unibet founder Anders Ström, had signed an agreement for a three-month pilot test of the LAMPlify® platform.
On 19 March, trading in Diagonal Bio’s securities commenced on NGM Nordic SME.
March 21, 2025, Diagonal Bio announced that the Japanese Patent Office has confirmed the grant of patent to Diagonal Bio for the company’s key technology, a DNA/RNA detection platform.

This press release contains inside information that Diagonal Bio AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on March 28, 2025, at 08:00 CET.

For additional information about Diagonal Bio, please contact:
Karin Wehlin, CEO

Phone: +46 70 305 24 88

E-mail: kw@diagonalbio.com

About Diagonal Bio

Diagonal Bio AB was founded in 2020 and is a Swedish biotechnology company with headquarters and offices in Lund. The Company develops the PANVIRAL® platform to detect and diagnose small sections of pathogen genomes, for example viruses, bacteria and fungi. The Company was founded with the goal of reducing human suffering by revolutionising global diagnostics of pathogen-borne diseases with proprietary technology. Diagonal Bio’s patented technology can also be used for the less regulated market segments via LAMPlify®.

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