Third quarter 2015 for the Group compared to 2014
» Net sales amounted to SEK 150,174 (78,235).
» Other operating income amounted to SEK 1,212,350 (638,505).
» Income after financial items amounted to SEK -10,908,522 (-7,302,119).
» Earnings per share (weighted average) amounted to SEK -0.71 (-0.91).
First nine months 2015 for the Group compared to 2014
» Net sales amounted to SEK 641,094 (118,485).
» Other operating income amounted to SEK 3,778,750 (1,168,948).
» Income after financial items amounted to SEK -29,825,819 (-24,859,094).
» Earnings per share (weighted average) amounted to SEK -1.94 (-3.11).
» Equity per share amounted to SEK 7.77 (5.90).
Significant events during the third quarter
» Pål Ryfors was hired as the Company’s new CFO.
» An Extraordinary General Meeting held on August 21, 2015, decided on a rights issue of up to approximately SEK 120 million with preferential rights for the Company’s shareholders and on a private placement to Episurf Medical’s new CFO.
» Michael McEwan, Chief Commercial Officer (CCO) and member of the Management Team, left his position as of August 31, 2015.
» Episurf Medical received CE-marking of its third implant, the Episealer® Femoral Twin, which is the first “self-certified CE-mark” product via the Company’s recently granted ISO 13458:2012 and Annex II certification.
» The new share issue ended on 10 September 2015 was subscribed for by shareholders to 97.8 per cent and the Company raised SEK 120 million before issue related costs.
» Sales and marketing efforts were intensified through increased participation at European orthopaedic conferences.
Significant events after the reporting period
» The two first surgeries with Episurf Medical’s third product, the Episealer® Femoral Twin, were performed in Germany with positive results.
Extract from CEO Rosemary Cunningham Thomas CEO statement:
“Episurf’s 2015 YTD performance over the same period PY demonstrates continued momentum across the business, resulting in positive revenue growth in all direct sales geographies and new accounts connected to the μiFidelity® platform.”
“Through 31 October 2015, 62 Episealers have been implanted. A key metric for Episurf is patient performance data post-surgery and I am pleased to report there are no revisions within the total cohort of 62 and patients continue to report positive improvements in pain, mobility and general wellbeing.”
“The implants continue to perform well over time. Episurf has 20 Episealer® patients who have reached +1 year, 7 patients at +2 years and 4 patients at 30 months. Surgeon feedback suggests the Episurf Damage Marking report offers a form a pre-surgical quality control that leads to appropriate patient selection and we believe this will be borne out as more Episealer® patients reach yearly milestones.”
“We are also on target to receive the CE mark for the MOS guide by the end of 2015. This means Episurf will finish 2015 with four CE marked products.”
About Episurf Medical
Episurf Medical is endeavoring to bring people with painful joint injuries a more active, healthier life through the availability of minimally invasive and personalized treatment alternatives. Episurf Medical’s Episealer® personalized implants and Epiguide® surgical drill guides are in development for treating localized cartilage injury in joints. Episurf Medical’s μiFidelity® system will enable implants to be cost-efficiently tailored to each individual’s unique injury for the optimal fit and minimal intervention.
Episurf Medical’s head office is in Stockholm, Sweden. Its share (EPIS B) is listed on Nasdaq Stockholm. For more information, go to the company’s website: www.episurf.com.