PARIS--(BUSINESS WIRE)--Regulatory News:
STENTYS (Paris:STNT) (FR0010949404 — STNT), a medical technology company commercializing the world's first and only Self-Apposing® coronary stent, today announces its revenues for the fourth quarter and full year 2016.
2016 annual and fourth-quarter revenues*
|
4th quarter |
Annual |
|||||||||||
| € thousand | 2016 | 2015 | % change | 2016 | 2015 |
% change |
||||||
| Revenues | 1,980.5 | 1,880.4 | +5.3% | 7,318.4 | 6,102.1 |
+19.9% |
||||||
* Figures reviewed by the statutory auditors
Over the fourth quarter of 2016, STENTYS recorded revenues of almost €2.0 million, an increase of +5% compared with the fourth quarter of 2015. This limited growth rate was notably due to the commercial reorganization undertaken during the second half of 2016 in order to benefit from a more operational structure in 2017.
Over 2016 as a whole, revenues were up +20%, at €7.3 million.
Solid cash position of €17 million as a result of the €12.6 million
rights issue and cost reductions
At December 31, 2016, STENTYS
had a cash position of €17 million, versus €10.7 million at December 31,
2015, due firstly to the rights issue carried out in February 2016 and
secondly to the cost reductions achieved over the second half of the
year thanks to the reorganization of certain operational functions
initiated in July.
Recomposition of the Board of Directors
On the initiative of the
Chairman of the Board of Directors, and within the context of the
refocusing of STENTYS’ activities on high-potential markets in Europe,
the Middle East, Asia and Latin America, the Company’s two North
American Directors, Mrs. Dianne Blanco and Mr. Michael Lesh, have stood
down from the Board.
Christophe Lottin, Chief Executive Officer, comments: “We recorded annual growth of 20% in 2016, while reorganizing STENTYS’ operational and commercial functions in the fourth quarter in order to better meet market expectations and maintain our cash position. In 2017, our ambition will be to accelerate our growth by maximizing the adoption of our stents by cardiologists in Europe and high-potential countries while continuing to control our operating costs.”
Upcoming financial publication
STENTYS expects to publish its 2016 annual results on Wednesday March 22, 2017
About STENTYS
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
STENTYS is listed on Comp. C of the Euronext Paris
ISIN:
FR0010949404 – Ticker: STNT
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.
