PRINCETON, N.J. & PARIS--(BUSINESS WIRE)--Regulatory News:
STENTYS (FR0010949404 — STNT), a medical technology company commercializing the world's first and only Self-Apposing® coronary stent, today announces its revenue for the third quarter and first 9 months to September 30, 2016.
- Change in third-quarter and nine-month revenue*
|9 months||3rd quarter|
|€ thousands||2016||2015||% change||2016||2015||% change|
* Data reviewed by the statutory auditors
Over the third quarter of 2016, STENTYS recorded revenues of €1.7 million, up 5% compared with the third quarter of 2015. This growth was more moderate than in previous quarters because of a negative base effect linked to an exceptional order won in the Middle East in 2015.
Over the first 9 months of 2016, revenues were up 26%, at €5.3 million.
- More than 20,000 stents implanted worldwide
Since it was first used in the feasibility study in 2007, more than 20,000 self-apposing stents have been inserted in patients around the world.
- Good progress in the left main coronary artery clinical trial
The TRUNC study, designed to evaluate Xposition S’ efficacy in 200 patients suffering from left main coronary artery disease, is on track, with patient enrolment now ongoing in 17 European medical centers and due to be finalized in the summer of 2017, as planned.
- A sound cash position
At September 30, 2016, STENTYS had cash and equivalents totaling €15.7 million compared with €18.1 million at June 30, 2016.
Christophe Lottin, Chief Executive Officer of STENTYS, comments: “Despite a negative base effect, STENTYS has recorded an increase in quarterly sales, reflecting demand for the Xposition® range that meets a real need from interventional cardiologists. The changes undertaken over the third quarter having now been well integrated by our teams, I am confident that our revenues will continue to grow.”
- Upcoming events
STENTYS will participate in the Actionaria investor fair on November 18 and 19, 2016 in Paris (Palais des Congrès, Porte Maillot)
STENTYS is developing and commercializing innovative solutions for the treatment of patients with complex artery disease. STENTYS’ Self-Apposing® drug-eluting stents are designed to adapt to vessels with ambiguous or fluctuating diameters in order to prevent the malapposition problems associated with conventional stents. The APPOSITION clinical trials in the treatment of acute myocardial infarction showed a very low one year mortality rate and a faster arterial healing compared to conventional stents. The company’s product portfolio also includes MiStent SES®, a coronary DES whose new drug delivery mechanism is designed to match vessel response, and is marketed through STENTYS’ commercial network in Europe, the Middle East, Asia and Latin America.
More information is available at www.stentys.com
Safe Harbor Statements
This press release contains forward-looking statements about the Company that are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future which may not be accurate. Such forward-looking statements involve known and unknown risks which may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the development and commercialization of the Company’s products, market acceptance of the Company’s products, its ability to manage growth, the competitive environment in relation to its business area and markets, its ability to enforce and protect its patents and proprietary rights, uncertainties related to the U.S. FDA approval process, slower than expected rates of patient recruitment for clinical trials, the outcome of clinical trials, and other factors, including those described in the Section 4 “Risk Factors” of the Company’s 2015 Registration Document (document de référence) filed with the French Autorité des Marchés Financiers (AMF) on August 30, 2016 under number D.16-804.