Implantica publishes Interim Report Q2 2022
Executing on RefluxStop™ Commercialisation Strategy
Significant events in the second quarter of 2022
- Implantica has completed the first AppetiteControl™ food sensor clinical trial on 20 human volunteers. The results are currently being evaluated.
- Implantica successfully conducted its first User Meeting with 11 highly experienced anti-reflux Key Opinion Leaders (KOLs) participating, from several European countries. The purpose of the meeting was to standardize the surgical technique for the RefluxStop™ procedure. A consensus paper has been written and will be published.
- Implantica was named the winner of the Frost & Sullivan 2022 European Technology Innovation Leadership Award for its novel RefluxStop™ technology treating gastroesophageal reflux disease (GERD). Frost & Sullivan’s Industry Analyst, Neeraj Nitin Jadhav, concludes that Implantica’s development of its groundbreaking technology, RefluxStop™ treats gastroesophageal reflux disease without affecting the food passageway and provides maximum safety, superiorly treating a pathological low pH in lower esophagus (causing heartburn and cancer) and thereby lowers the economic burden on both patients and society.
- Significant progress has been made in generating real-world evidence on RefluxStop procedural feasibility, safety, and efficacy. Multiple patient case series articles utilizing RefluxStop patient data are under development and expected to be submitted to scientific journals by the end of this year.
Significant events after the end of the period
- University of York’s Health Economics Consortium in UK has made an in-depth and robust health economic analysis of RefluxStop™ versus Standard of Care and other alternative treatment options. The analysis clearly showed the superior cost-effectiveness of RefluxStop against other anti-reflux interventions. The outcome of this assessment highlights RefluxStop™, as superior compared to all other therapies in quality-of-life outcomes. This is excellent news for RefluxStop’s™ commercial development as it will be considered by governmental bodies and insurance companies.
- Implantica initiated a therapy awareness project to enhance the patient, physician and caregiver’s awareness about gastroesophageal reflux disease (GERD) and anti-reflux surgery.
- A dedicated patient awareness website on GERD is under development and expected to be ready for launch before the end of this year.
- Implantica attended several key scientific congresses and patient meetings in Germany, Sweden, Spain, Italy, Austria, and Switzerland to raise awareness and medical education about RefluxStop therapy among the Anti-Reflux experts, patients, and the GERD community at large.
Second quarter financial summary
- Net sales increased 80% to TEUR 207 (115).
- Adjusted gross margin amounted to 97% (94%).
- Operating loss (EBIT) increased to TEUR 4,347 (2,968).
- Loss after tax amounted to TEUR 5,858 (2,875).
- Basic and diluted loss per Class A share amounted to EUR 0.08. (0.04).
- Cash and short-term investments as at the end of the period amounted to MEUR 121.5.
First six months financial summary
- Net sales increased 106% to TEUR 405 (197).
- Adjusted gross margin amounted to 96% (93%).
- Operating loss (EBIT) increased to TEUR 8,758 (5,247).
- Loss after tax amounted to TEUR 10,746 (4,841).
- Basic and diluted loss per Class A share amounted to EUR 0.15 (0.07).
Implantica will hold a telephone conference on August 23 at 15:00 CEST.
The presentation will be in English via an audiocast with teleconference:
Conference call dial-in:
- Sverige: +46 8 566 427 06
- Storbritannien: +44 3333 009030
- USA: +1-646-722-4904
- CEO Peter Forsell
- CFO Andreas Öhrnberg
- VP Operations & IR Nicole Pehrsson
For further information, please contact:
Nicole Pehrsson, Investor Relations
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, +46 (0)8 528 00 399, firstname.lastname@example.org
The information was sent for publication, through the agency of the contact person set out above, on August 23, 2022 at 08:00 a.m. 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.