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 reports its quarterly revenues and cash position at June 30, 2017.
Change in revenues*
|1st half||2nd quarter|
* Unaudited data
STENTYS recorded revenues of €3.5 million over the first half of 2017, down 2.6% compared to the same period of 2016. This decline is linked to a negative base effect on the second quarter activity (-19.8%), associated with a €426k call for tender of MiStent stents won in the Middle East in June 2016. Excluding the impact of this sale, the second quarter revenues were up 0.2%.
Over the first six months of the year, Xposition S sales were up 20% in volume and 10% in value, compared to the first half of 2016.
Cash position of €10.3 million
At June 30, 2017, STENTYS had a cash position of €10.3 million, versus €12.4 million at March 31, 2017. This cash burn is in line with the plan to reduce the Company’s expenditures.
Appointment of Olivier Pierron as European Sales Director
Within the restructuring of its sales department, whose new organization is now in place, STENTYS has recruited Mr. Olivier Pierron as European Sales Director to especially oversee the direct sales force. He has over 20 years’ experience in the launch, commercialization and development of innovative medical implants. He was previously Sales & Marketing Director EMEA for Surgery at ConMed (a global medical technology company specialized in the surgical sector).
Christophe Lottin, Chief Executive Officer of STENTYS, comments: “The increase in sales of our flagship product,
Xposition S, confirms the growing demand for our self-apposing technology, which is particularly well-suited for the treatment of specific coronary lesions. Moreover, in recent months we have entirely reorganized our commercial structure and are delighted to welcome Olivier, our new European Sales Director, who will coordinate all our sales teams and implement our new commercial strategy.”
Upcoming financial publication
Publication of the first half 2017 financial results on September 13, 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.