Brief: S2Medical Implements Strategic Change To Reach Profitability Faster

S2Medical AB (publ)

28/03/2023 15:40

March 28 (Reuters) - S2Medical AB (publ)  S2ME.ST :
    * S2MEDICAL IMPLEMENTS A STRATEGIC CHANGE TO REACH
PROFITABILITY
FASTER
    * TO IMPLEMENT A STRATEGIC CHANGE WHICH MEANS THAT ALL
AVAILABLE
RESOURCES WILL BE USED TO ACHIEVE INCREASED GROWTH.
    * WILL THEREFORE PAUSE ALL ACTIVITIES RELATED TO RESEARCH
AND
DEVELOPMENT AND CLINICAL STUDIES.
    * TECHNOLOGY FOR DEALING WITH MULTI-RESISTANT BACTERIA WILL
NOT BE
AFFECTED BY THIS REORGANIZATION
    * REORGANIZATION WILL RESULT IN A REDUCED BURN RATE AND MAKE
AVAILABLE RESOURCES THAT CAN BE ALLOCATED TO EXPANDING SALES
    * WILL FOCUS SOLELY ON INCREASING TURNOVER THROUGH SALE OF
EXISTING PRODUCTS.
    * PARTS OF STREAMLINING INCLUDE RENTAL AGREEMENTS AND LIKE,
MEANING THAT EFFECTS WILL BE REALIZED GRADUALLY DURING CURRENT
YEAR
    * CFO, HAS CHOSEN TO TERMINATE HER EMPLOYMENT.
    * COO, MÅRTEN SKOG, WILL BE RESPONSIBLE FOR FINANCIAL
REPORTING
WITH SUPPORT FROM AN EXTERNAL CONSULTANT

Source text for Eikon:  ID:nWkr4Vk6YW 
Further company coverage:  S2ME.ST 

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