Diagonal Bio publishes interim report for the first quarter of 2025

Summary of the interim report for the third quarter of 2025

2025-01-01 — 2025-03-31 (January — March 2025)

• Net sales amounted to 186 KSEK (0 KSEK), capitalised development contributed with 297 KSEK (250 KSEK), and other operating income amounted to 0 KSEK (5 KSEK).
• The net loss amounted to -2 529 KSEK (-2 727 KSEK).
• Operating profit per net weighted average share amounted to -0.003 SEK (-0.07 SEK).
• Cash flow during the first quarter amounted to 3 686 KSEK (-1 116 KSEK).
• Cash and cash equivalents at the end of the period amounted to 4 504 KSEK (1 856 KSEK).

Significant events during the first quarter of 2025

• 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.
• On 21 March, Diagonal Bio AB announced that the Japanese Patent Office has confirmed the grant of a patent (application number: EP3987059B1) to Diagonal Bio for the Company’s key technology (‘A DNA/RNA detection platform’).
• On 28 March, the Company announced that Diagonal Bio had signed an agreement to conduct pilot tests of the LAMPlify® platform at Stall Törnqvist as well as an undisclosed additional facility.

Significant events since 31 March 2025

• On 5 May, Diagonal Bio announced the appointment of Anders Wallseth as Senior Commercial Advisor. Wallseth’s appointment represents a significant step forward in accelerating the commercial launch and market growth of Diagonal Bio’s LAMPlify® system.

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®.