Prolight writes down capitalized development costs for MicroFlex and delays publication of the annual report

Today Prolight Diagnostics decided to write down the capitalized development costs regarding troponin testing on the analogue POC system MicroFlex with SEK 113 million. The impairment influences the result for 2023 but has no influence on the cash balance. The work with the annual report for 2023 is therefore delayed and the new publication date is April 30, 2024.
The impairment is based on that testing with the single biomarker troponin on the MicroFlexPOC system is no longer believed to be successful as Prolight’s digital POC system Psyros™ has demonstrated superior performance.
The commercialization agreement signed with The Technology Partnership plc (TTP) in November 2022, is not affected by this decision since it covers several other biomarkers which are believed to have a big market potential. TTP will continue to pursue further development and ongoing external initiatives and discussions with the aim of securing an industrial partner for MicroFlex. Prolight Diagnostics will benefit under the commercialisation agreement as future revenues are generated.

The write down will be realized and implemented in the annual report for 2023. New publication date for the annual report is April 30, 2024. Consequently, the Annual General Meeting for Prolight Diagnostics will be postponed to May 27, 2024. A new notice will be sent out in a separate press release.