Implantica publishes Interim Report Q1, January - March 2022

SUCCESSFUL REFLUXSTOP™ MARKET ACCESS STRATEGY

STOCKHOLM, May 11, 2022 /PRNewswire/ -- 

Significant events in the first quarter of 2022

• Implantica continued during this quarter to substantially strengthen its organisation on a broad front. Since our vision is to become the world leader in smart medical implants, we embrace the fact that the talent and calibre of our people are fundamental to achieve this goal. This shared vision has attracted world-class talent from diverse leading organizations.
• First RefluxStop™ implants successfully performed in the UK at King Edward VII Hospital in London by Mr. Nick Boyle, Founder of RefluxUK and VP of the European Foregut Society.
• Comprehensive eHealth patent applications filed for Implantica's platform technology encompassing 25'000 pages, providing fundamental coverage for the eHealth platform in general and extending the scope and term of patent protection for the pipeline products.
• Implantica successfully progresses with eHealth adaption of our pipeline products culminating in a 3-day eHealth workshop with 20 experts from all over Europe to advance the usability of our unique eHealth platform technology, designed to change treatment on distance.

Significant events after the end of the period

• Successfully completed RefluxStop™ EU MDR (Medical Device Regulation) Technical Documentation submission.
• Long anticipated return to physical attendance at healthcare Congresses since the Covid outbreak, receiving an enthusiastic reception from KOLs for RefluxStop™ at the German Surgeons' Congress in Leipzig, Germany and Gastrodagarna in Malmö, Sweden, among others.
• Further developing our market access strategy focusing on large centers of excellence and important KOLs in important markets. In Japan, we have been approved by the government-controlled company, Jetro, which supports selected companies with important technologies with market entry in Japan.
• Our regulatory and clinical teams have been diligently preparing the extensive RefluxStop™ PMA application for FDA approval in US. We also continued to expand our presence in our US subsidiary, Implantica Inc.

First quarter financial summary

• Net sales increased 141% to TEUR 198 (82).
• Adjusted gross margin amounted to 95% (91%).
• Operating loss (EBIT) decreased to TEUR 4,411 (2,279).
• Loss after tax amounted to TEUR 4,888 (1,966).
• Basic and diluted loss per Class A share amounted to EUR 0.07 (0.03).
• Cash and short-term investments as at the end of the period amounted to MEUR 125.7.

Implantica will hold a telephone conference on May 11 at 15:00 CET.

The presentation will be in English via an audiocast with teleconference:

Conference call dial-in:

• Sweden: +46 8 505 583 66
• United Kingdom: +44 3333 009265
• United States: +1-646-722-4904

Webcast:

https://tv.streamfabriken.com/implantica-q1-2022 

Speakers:

• CEO Peter Forsell
• CFO Andreas Öhrnberg
• VP Operations & IR Nicole Pehrsson

For further information, please contact:

Nicole Pehrsson, Investor Relations
Telephone (CH): +41 (0)79 335 09 49
nicole.pehrsson@implantica.com

Implantica is listed on Nasdaq First North Premier Growth Market in Stockholm.

The company's Certified Adviser is FNCA Sweden AB, +46 (0)8 528 00 399, info@fnca.se

The information was sent for publication, through the agency of the contact person set out above, on May 11, 2022 at 08:00 a.m. CET.

About Implantica

Implantica is a medtech group dedicated to bringing advanced technology into the body. Implantica's lead product, RefluxStop™, is a CE-marked implant for the prevention of gastroesophageal reflux that will potentially create a paradigm shift in anti-reflux treatment as supported by successful clinical trial results. Implantica also focuses on eHealth inside the body and has developed a broad, patent protected, product pipeline based partly on two platform technologies: an eHealth platform designed to monitor a broad range of health parameters, control treatment from inside the body and communicate to the caregiver on distance and a wireless energising platform designed to power remote controlled implants wirelessly through intact skin. Implantica is listed on Nasdaq First North Premier Growth Market (ticker: IMP A SDB). Visit www.implantica.com for further information.

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SOURCE Implantica