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Senzymatica INTERIM REPORT FOR ENZYMATICA AB ( PUBL ) JANUARY - MARCH 2021 Lower sales due to the pandemic but new rights issue secures continued international expansion First quarter " " Net sales reached SEK 17.0 ( 26.8 ) million . " ■ ■ Result after tax came in at SEK -8.9 ( 0.7 ) million . Earnings per share , basic and diluted , were SEK -0.06 ( 0.01 ) . Cash and cash equivalents were SEK 21.4 ( 33.9 ) million . Significant events in Q1 Enzymatica's sales during the quarter declined compared with the corresponding period in 2020 due to the effects of the pandemic , which essentially reduced the cold remedy market by 50 percent , both in Sweden and in other markets . Enzymatica announced on March 22 that sales for 2021 could be lower than sales for 2020 , which totaled SEK 111 million , because of the impact of the pandemic on the cold remedy market . The Board of Directors has therefore decided to raise SEK 59 million through a rights issue to fund the company's long - term initiatives and to meet working capital needs for the next 12 months . Enzymatica recruited two strategic hires , Malin Richter as the new Director Operations and Kristoffer Ahlerup as the new Director Commercial , both of whom have extensive experience from the international life science industry . Impact of the coronavirus pandemic As a result of the coronavirus pandemic , with social distancing , improved hand hygiene and fewer social contacts , the cold remedy market in Sweden and internationally was reduced by 50 percent during the quarter . As with other cold products , ColdZyme sales were negatively impacted by the decline . The company does not see any direct effects of COVID - 19 on the business with respect to production , logistics , sickness absence , etc. Enzymatica believes that cold remedy markets could recover in the second half of 2021 , once countries complete their vaccination campaigns . Key figures for group Jan - Mar ( SEK million ) 2021 Jan - Mar 2020 Full year 2020 Net sales 17.0 26.8 111.2 Gross margin , % 54 78 68 Operating profit / loss -8.7 0.2 -12.1 Cash flow from operating activities 1.3 -4.5 -10.7 Average number of employees 23 17 18 ENZYMATICA INTERIM REPORT JANUARY - MARCH 2021 | 1