Implantica publishes Interim Report January – June 2023 (Q2)
RefluxStop™ Gaining Significant Traction Across Europe to Battle Acid Reflux
Significant events in the second quarter of 2023
- We launched in Italy with four new centers performing RefluxStop™ procedures, all centers of excellence, located in Napoli, Milan and the Puglia region, with leading anti-reflux surgeons. Among those is Professor Bonavina, the president of the European Foregut Society.
- The 100th RefluxStop procedure was completed in a single center at Klinikum Friedrichshafen, a leading anti-reflux Center of Excellence in Germany.
- Dr. med. Borbély from InselSpital, Switzerland’s largest University hospital, presented his successful RefluxStop 3-year results at SAGES (Society of American Gastrointestinal and Endoscopic Surgeons) conference in Montreal, Canada. He concluded that the excellent data from the CE mark study could be replicated in a real-world setting.
- The University of York-led cost-effectiveness analysis showing that RefluxStop is more cost-effective than PPIs, Fundoplication and Magnetic Sphincter Augmentation, was published in the peer-reviewed Journal of Medical Economics. This is a prestigious payer journal well known for covering economic assessments of novel therapeutic and medical device interventions.
Significant events after the end of the period
- The RefluxStop™ Registry Study (ReStore) received Ethics Committee approval in Sweden and Italy and is now approved in 4 countries including Germany and Switzerland.
- RefluxStop has been operated in over 500 patients in Europe.
- Dr. med. Zehetner (Prof. USC), from Hirslanden Klinik Beau-Site, Switzerland, presented his RefluxStop results on patients suffering from Ineffective Esophageal Motility (IEM), a disorder that causes swallowing difficulties and pain, at Digestive Disease Week (DDW) in Chicago. Significantly, this patient population does not have any optimal treatment options today.
- We met with experts from IPAC (the Interventional Procedures Advisory Committee), which advises the UK’s healthcare body NHS on the safety and efficacy of interventional procedures. Several NHS hospitals have now independently notified IPAC about their intention to use RefluxStop. This initial meeting helps us prepare for a formal IPAC review process, a key step for NHS hospitals adopting our technology.
Financial summary second quarter 2023
- Net sales increased 69% to TEUR 349 (207).
- Adjusted gross margin amounted to 94% (97%).
- Operating loss (EBIT) decreased to TEUR 4,276 (4,347).
- Loss after tax amounted to TEUR 5,311 (5,858).
- Basic and diluted loss per Class A share amounted to EUR 0.07 (0.08).
- Cash and short-term investments as at the end of the period amounted to MEUR 98.2.
First six months
- Net sales increased 62% to TEUR 656 (405).
- Adjusted gross margin amounted to 94% (96%).
- Operating loss (EBIT) increased to TEUR 9,146 (8,758).
- Loss after tax amounted to TEUR 10,069 (10,746).
- Basic and diluted loss per Class A share amounted to EUR 0.14 (0.15).
Implantica will hold a teleconference on 24 August 2023 at 15:00 (CEST) with Peter Forsell (CEO), Andreas Öhrnberg (CFO), and Nicole Pehrsson (Chief Corporate Affairs Officer). Please see the dial-in details below to join the conference:
Dial-in numbers to the teleconference will be received by registering on the link below. After the registration, you will be provided phone numbers and a conference ID to access the conference https://conference.financialhearings.com/teleconference/?id=200940
For further information, please contact:
Nicole Pehrsson, Chief Corporate Affairs Officer
Telephone (CH): +41 (0)79 335 09 49
Implantica is listed on Nasdaq First North Premier Growth Market in Stockholm.
The company's Certified Adviser is FNCA Sweden AB, email@example.com
This information is information that Implantica AG is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-08-24 08:00 CEST.
Implantica is a medtech group dedicated to bringing advanced technology into the body. Implantica’s lead product, RefluxStop™, is a CE-marked implant for the prevention of gastroesophageal reflux that will potentially create a paradigm shift in anti-reflux treatment as supported by successful clinical trial results. Implantica also focuses on eHealth inside the body and has developed a broad, patent protected, product pipeline based partly on two platform technologies: an eHealth platform designed to monitor a broad range of health parameters, control treatment from inside the body and communicate to the caregiver on distance and a wireless energising platform designed to power remote controlled implants wirelessly through intact skin. Implantica is listed on Nasdaq First North Premier Growth Market (ticker: IMP A SDB). Visit www.implantica.com for further information.
This disclosure contains information that Implantica is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 24-08-2023 08:00 CET.