PARIS--(BUSINESS WIRE)--Regulatory News:
STENTYS (Paris:STNT) (FR0010949404 - STNT), a medical technology company commercializing the XPOSITION S Sirolimus-eluting self-apposing coronary stent, today announces its quarterly revenues and cash position at March 31, 2017.
Change in first quarter revenues
|€ thousands||Q1 2017||Q1 2016||% change|
* Data reviewed by the statutory auditors
STENTYS recorded revenues of €1.8 million over the first quarter of 2017, up 22% on the first quarter of 2016. This increase in sales volumes reaffirms growing demand for the Xposition S range, notably on the European market. It was driven by significant sales development in Germany, a consolidated presence on the Italian market but also the opening of new countries.
Solid cash position of €12.4 million
At March 31, 2017, STENTYS had a cash position of €12.4 million, versus €17.0 million at December 31, 2016. This level reflects a temporary increase in cash burn associated with the financing of Working Capital Requirements. As a reminder, in 2016 cash flow was affected by a substantial decrease in Working Capital Requirements, €3.6 million, notably due to restructuring costs not disbursed at the end of 2016 and by a considerable reduction in inventories.
Christophe Lottin, Chief Executive Officer, comments: “We have started 2017 with a solid commercial performance that reaffirms the interest shown by interventional cardiologists in our range of drug-eluting self-apposing stents. We are gradually putting our new organization in place, which will enable us to continue recording growth whilst controlling our expenses.”
Upcoming financial publication
STENTYS expects to publish its revenues for the 2nd quarter of 2017 on Wednesday July 12, 2017
STENTYS will hold its Shareholder Meeting on May 11, 2017 from 4 pm CEST, at 21 place de la Madeleine, 75008 Paris.
Preparatory documents for this Meeting, including the postal voting form, are available on the Company’s website, www.stentys.com, in the Investors / Filings / Shareholder Meetings section.
If you are a STENTYS shareholder and wish to vote on the resolutions tabled at this Meeting, you can either attend in person or send the completed voting form to your bank, which must receive it no later than Monday May 8, 2017.
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 Compartment C of 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..