Morning. My name is Andreas Bagwani. I'm the CEO, one of the largest shareholders of NAN LOGICA. And I'm here to give you a presentation about the year end report for 2020. But before I do that, I'll just give you a brief introduction to why we exist.
So better and cheaper medicine through poor silica, that's our vision. And I think it's very important because there are 2 major trends movements in the pharmaceutical industry and in the life science sector as a whole. And one is of course that there are people out there that doesn't get medicines that ly exist or treatments that actually exist. And one example is that there are a lot of diabetics that don't get insulin and we can be a major part in making insulin accessible, especially to a lot of the patients in Asia. The other part of the other side of the specter is of course that there are a lot of people that doesn't get any treatment at all.
And one example is IPF. So it's a lung disease and there are no good treatments at all today. And one of our partners Vicor Pharma the using existing molecule that already is approved for cancer treatment and they're formulating it with our technology so that IPF patients can get a better treatment and they're moving into the clinic pretty soon. So this is a good example, 2 good examples of how we're trying to be true to our vision. For those of you who doesn't who do not know what we do so nanoporous silica.
That's what we do. If you have our products in your hand and feel it, it's like a fine sand and their micron sized particles. So if you look at them light microscope you would see those discrete particles as you can see in the second image. But if you look at the SEM and even more magnification, you see that the particles are porous and that's sort of our thing to surface property, surface area, surface chemistry pore size, pore size distribution. That's our backyard.
And since we're very good at that, we use that in 2 business areas. So drug development and chromatography. And in drug development we have 2 platforms. 1 is for tablets and lab spiro and the other one is for inhalation and that's where we put most of our efforts Intuit because we think that we can be unique in delivering drugs that are not formulatable for lung delivery today. In chromatography we have both analytical chromatography VM where we've had sales and preparative chromatography where we put a lot of efforts into getting the first products out.
So if you look at a historical perspective, there's a before and after summer of 2018. Before that, we a few quarters we had sales and then we didn't have any but since then, we've been very steady in our growth and that seems to be continuing. As far as we can see and our horizon is a quarter or so when we're in this growth phase. So we've had very good growth and we will continue to grow. If you look at the quarter, in short, the net sales was SEK 6,000,000 and that's a lot better than the in Q4 last year, 2019, which was SEK 2,700,000 operating result minus SEK 3,600,000 also better results after tax minus SEK 5.4 million also much better and we had a cash balance of SEK 66,000,000.
So where does the sale come from? So in their development our projects, especially G and P projects, they're giving us sales in their development. Chromatography has not been has been a disappointment, of course, although expected because most of our problems here are COVID related. When we sell and it's good chromatography products, we have people demonstrating for labs throughout the world. And our main markets have been China and India.
And although China is sort of back to normal, it doesn't mean that our people that are promoting our products can travel because they're traveling China around before the pandemic and now if they would go around China, it would take them 3 or 4 months due to all the restrictions. So heavily affected by COVID in molecular chromatography. Our other business areas. We've been delayed in virtually all our projects. And the other big delay is, of course, that we have a clinical study that has been on hold because we can't access the clinics as NIC001.
If you look at where we can see most things happening right now, it's in prep chromatography. We've done a lot of things, we'll continue to do things. What we want to do here is, of course, to establish the fast growing industrial product sales. And we've had very good news recently here. We started an upscaling project in 2019.
We got the first products in December 2020 and those were tested in January 2020. And what we could see is that it's identical to what we've manufactured at our pilot scale facility. That. And this is super important because we've had a lot of customers that have tested our products, but that has come from the pilot plant. Now we know that those are completely equivalent that of course it's much easier to roll out and accelerate into tonne scale production, which is necessary to be able to provide to these customers.
And the next step is, of course, that we'll send out products from our big facility to our customers. And we will strengthen our sales organization. I'm very pleased to just recently announce that Doctor. PK Dutta has joined us. He has a very strong track record and he's done a lot of the major deals in the industry.
So we welcome PK through the team of nanologicans. Switching tracks, our other business area are quite different. We are what we want to do here is that, of course, that we want to be able to bring drugs into the inhalation field that was not a was not formulatable from before. There are a lot of it has formulation of inhalation drugs, there's a lot of limitations. And we hope that we can be sort of almost like a break true technology in this field.
And so GMP is, of course, super important that we started that, but even more important is that we started preparing for animal studies, both talk study and PK studies, so that we can show maybe with 2 APIs during this year, we will be able to demonstrate the versatility of the platform. If we're lucky, one of those APIs could go become a clinical program, but that's too early to say. And of course our clinical program on NIC001 has been postponed as I said before. So looking ahead, again I'd like to underline the importance that the output from our big facility is equivalent to what we've done at our pilot plant that's super important, is already checked. Next step is, of course, to start sending that out and to accelerate the timescale production.
And we expect to have products out in larger scale later this year. And of course, it's a balance between signing customer contracts for those volumes and delivering those volumes. Of course this is we're in here for the long term and if it comes to 1 quarter or the other, I don't think that's really important, but we're trying to do it as fast as possible. Switching tracks to our other business area, drug development. We're expecting data throughout this year, very exciting from Q2 and onwards.
And we, of course, have a partner projects that are moving into the clinic either in 2021 or 2022. We don't know that it's not really for us to decide. Spare time plan. So just to summarize, very, very strong sales, best sales so far, but that's not the most important thing. The most important thing is that we've been able to demonstrate that what we have manufactured at our big facility is equivalent to what we have in our pilot plant.
And that is important because it is a product from the pilot plant that has been tested by customers. So very exciting times ahead. And I hope to see you soon over and out from Andreas Baguani at NANDOLOGICA presenting year end reports for 2020. Thank you.