Mauna Kea Technologies Provides Business Update

PARIS & BOSTON--(BUSINESS WIRE)--Regulatory News:

Mauna Kea Technologies (Paris:MKEA) (OTCQX:MKEAY) (Euronext: MKEA) inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (pCLE/nCLE) platform, today announced a business update.

As a result of the disruption from the global crisis caused by the coronavirus, or COVID-19, the company is changing its date for publication of full year 2019 financial results to Tuesday, April 28, 2020 after markets close at 5:45 PM CET (Paris time). The company intends to provide an update on sales results for the first quarter of 2020 as part of this publication as well. The Mauna Kea Technologies management team will hold an English-language conference call at 6:00 PM CET, Paris time (1:00 PM EDT, New York time), to discuss full year 2019 financial results, first quarter of 2020 sales results and will address investor and analyst questions.

“The long-term growth opportunity for Mauna Kea remains compelling,” stated Robert L. Gershon, Chief Executive Officer of Mauna Kea Technologies. “That said, our near-term outlook has been challenged by the global crisis caused by the coronavirus, or COVID-19, during the first quarter of 2020. We are currently taking precautions recommended by national and local government agencies to protect the health and safety of our employees and their families, our customers, patients, and communities. To ensure the health and safety of our employees, we have implemented a remote-work policy to enable flexibility given regional travel restrictions, local ordinances, and other containment programs. Across our entire business worldwide, our teams are fully prepared to conduct all business-related engagements virtually and are embracing new and creative ways to continue to engage and support our customers to help achieve strong clinical outcomes. We have seen a slowdown in procedure trends as a result of the growing number of health authorities either recommending, or enforcing procedure deferrals. System adoption has also has been impacted by the overall slowdown in capital equipment purchases as the healthcare system focuses most available resources on treating infected patients. We expect these trends to have more significant impact on our second quarter financial results. Given the rapidly evolving dynamics in our primary commercial markets around the world, we are unable to predict when the procedure and system adoption trends will improve. We are navigating the unprecedented changes in our target market and are focused on ensuring that the organization is well-positioned to drive growth post COVID-19 when normal case loads and new system demand resumes in the U.S., APAC and EMEA/ROW regions. In the interim, the dedicated teams at Mauna Kea Technologies who support Cellvizio® are available to provide clinical case support and ensure uninterrupted workflow either in person or remotely.”

About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company focused on eliminating uncertainties related to the diagnosis and treatment of cancer and other diseases thanks to real time in vivo microscopic visualization. The Company’s flagship product, Cellvizio®, has received clearance/approval in a wide range of applications in more than 40 countries, including the United States, Europe, Japan, China, Canada, Brazil and Mexico. For more information on Mauna Kea Technologies, visit www.maunakeatech.com

Disclaimer
This press release contains forward-looking statements concerning Mauna Kea Technologies and its activities. Such forward looking statements are based on assumptions that Mauna Kea Technologies considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward- looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Mauna Kea Technologies registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on July 12, 2019 under number D.19-0683 and available on the Company's website (www.maunakeatech.com), and to the development of economic situation, financial markets, and the markets in which Mauna Kea Technologies operates. The forward-looking statements contained in this release are also subject to risks unknown to Mauna Kea Technologies or that Mauna Kea Technologies does not consider material at this time. The realization of all or part of these risks could lead to actual results, financial conditions, performances or achievements by Mauna Kea Technologies that differ significantly from the results, financial conditions, performances or achievements expressed in such forward-looking statements. This press release and the information it contains do not constitute an offer to sell or to subscribe for, or a solicitation of an order to purchase or subscribe for, Mauna Kea Technologies shares in any country.