On the 6th of October 2022, Fluicell (“Fluicell” or the “company”) announced that the company has received an order regarding Biopixlar AER in Australia from the Australian distributor AXT Pty Ltd with an order value of approximately SEK 500k.
Fluicell recently announced that the company has received an order regarding Biopixlar® AER in Australia from the Australian distributor AXT Pty Ltd, with an order value of approximately SEK 500k. AXT is Australia’s leading distributor of high technological scientific equipment for sampling and analysis within academic and industrial applications. AXT distributes Fluicell’s platform products BioPen®, Biopixlar® and Biopixlar® AER in Australia and New Zealand. Analyst Group see that the order of Biopixlar® AER is not only a strong value driver in terms of revenue, but also as a validation of the product per se, since customers have been requesting a more compact bioprinter, which shows that Fluicell has a sound market understanding when it comes to developing complex products where there is a great market need.
Moreover, Fluicell recently announced that the company has sold a Biozone 6® platform to the prominent Ludwig-Maximilian University in Munich, one of the world’s top universities and ranked number one in Germany, with an order value of approximately SEK 300k.
To summarise, Analyst Group see that Fluicell has started to gain momentum in the sales where the last couple of weeks have been productive in terms closing new orders. Furthermore, with SEK 500k from the sale of Biopixlar® AER, SEK 300k from the sale of Biozone 6®, and an additional other income of SEK 2.5m that was announced recently in a press release on the 1st of October, we forecast that Q4-22 will become a strong quarter in terms of total revenue of at least SEK 3.3m, beating the previous high of SEK 2.0m in Q2-20. Although most of the total revenue is attributed as a one-off item, it strengthens Fluicell’s financial position to accelerate the clinical development of tissue therapeutics and invest further in sales of the research platform products. With almost three months left of the year and a steady sales momentum, we see that there is plenty of room for Fluicell to deliver on the set sales and development agenda, which is by expanding product sales, licensing income and contract research while also receiving research grants.