Implantica publishes Interim Report Q3 2022
The RefluxStop™ Commercialisation Strategy update
Significant events in the third quarter of 2022
- University of York’s Health Economics Consortium in the UK made an in-depth and robust health economic analysis of RefluxStop™ versus Standard of Care and other alternative treatment options. The analysis clearly showed improved incremental cost-effectiveness ratios (ICERs) of RefluxStop against other anti-reflux interventions. The outcome of this assessment highlights RefluxStop™, as a better treatment option compared to the other therapies in quality-of-life outcomes.
- 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 meetings in Germany, Sweden, Spain, Italy, Austria, and Switzerland to raise awareness and medical education about the RefluxStop therapy among the Anti-Reflux experts, patients, and the GERD community at large
- Significant progress has been made in generating real-world evidence on the RefluxStop procedure 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
- Spire Manchester Hospital is now performing RefluxStop™ procedures. Spire Manchester is part of Spire Healthcare Group, a network of 39 hospitals and 8 clinics across England, Wales and Scotland.
- Implantica receives Global Health & Pharma’s Most Innovative MedTech Company– Central Europe Award for 2022 based on a serious due diligence by GHP, identifying the high innovation level of Implantica.
- Implantica attended the European Foregut Society (EFS) Conference in Belgrade, Serbia where the good clinical outcomes of RefluxStop were presented by Dr. med. Borbély.
- Implantica presented RefluxStop’s health economic impact at one of the biggest Payer conferences, ISPOR, the International Society for Pharmacoeconomics and Outcomes Research Conference in Vienna, Austria. The two abstracts that were presented evaluated the cost-effectiveness of RefluxStop™ as well as the budget impact on the healthcare system in England and Wales. RefluxStop therapy was shown to be more favourable in terms of cost benefit to the competition, in terms of PPI medical therapy, standard-of-care Fundoplication and Magnetic Sphincter Augmentation. This is excellent news for RefluxStop’s™ commercial development as these results will be considered by governmental bodies and insurance companies.
Third quarter financial summary
- Net sales increased 135% to TEUR 195 (83).
- Adjusted gross margin amounted to 94% (97%).
- Operating loss (EBIT) increased to TEUR 4,581 (3,904).
- Loss after tax amounted to TEUR 5,868 (4,266).
- Basic and diluted loss per Class A share amounted to EUR 0.08. (0.06).
- Cash and short-term investments at the end of the period amounted to MEUR 118.4.
First nine months financial summary
- Net sales increased 114 % to TEUR 600 (280).
- Adjusted gross margin amounted to 96 % (94 %).
- Operating loss (EBIT) increased to TEUR 13,339 (9,151).
- Loss after tax amounted to TEUR 16,614 (9,107).
- Basic and diluted loss per Class A share amounted to EUR 0.23 (0.14).
Implantica will hold a telephone conference on November 15 at 15:00 CET.
The presentation will be in English via an audiocast with teleconference:
Conference call dial-in:
- SE: +46 8 505 58357
- UK: +44 3333 009 273
- US: +1-646-722-4903
- 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, email@example.com
The information was sent for publication, through the agency of the contact person set out above, on November 15, 2022 at 08:00 a.m. CET.
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.