Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Sedana Medical AB (publ), Third Quarter Report 2021


News provided by

Sedana Medical

04 Nov, 2021, 06:18 GMT

Share this article

Share toX

Share this article

Share toX

Sedaconda (isoflurane) approved in 11 European markets

STOCKHOLM, Nov. 4, 2021 /PRNewswire/ --

Third quarter 2021

  • Net sales totalled SEK 28 M (21), equivalent to an increase of 32% compared to the third quarter of 2020. At constant exchange rates, sales increased by 34% with all regions showing positive growth.
  • Gross profit was SEK 19 M (13), equivalent to a margin of 68% (62). The improved margin is primarily an effect of lower transportation costs, favorable product mix and timing effects.
  • Earnings before interest, taxes, depreciation, and amortisation (EBITDA) totalled SEK -14 M (-10), equivalent to an EBITDA margin of -50% (-47).
  • Operating income (EBIT) totalled SEK-16 M (-12), equivalent to an EBIT margin of -57% (-55).
  • Net profit for the quarter was SEK -15 M (-13), and earnings per share before and after dilution were SEK -0.17 (-0.15).
  • Cash flow from operating activities totalled SEK -15 M (-5).
  • Cash flow from investing activities totalled SEK -33 M (-22).
  • Cash flow for the period totalled SEK -48 M (-27).
  • Cash and cash equivalents at the end of the period was SEK 262 M, compared to SEK 308 M at the beginning of the quarter.

January-September 2021

  • Net sales for the period totalled SEK 113 M (96), equivalent to an increase of 18%. At constant exchange rates, sales increased by 23%.
  • Gross profit was SEK 74 M (62), equivalent to a margin of 66% (65).
  • Earnings before interest, taxes, depreciation, and amortisation (EBITDA) totalled SEK -37 M (-9), equivalent to an EBITDA margin of -32% (-9).
  • Operating income (EBIT) totalled SEK -43 M (-13), equivalent to an EBIT margin of -38% (-14).
  • Net profit for the period was SEK -41 M (-15), and earnings per share before and after dilution were SEK -0.45 (-0.17).
  • Cash flow from operating activities totalled SEK -40 M (-11).
  • Cash flow from investing activities totalled SEK -77 M (-54).
  • Cash flow for the period totalled SEK -117 M (-58).
  • Cash and cash equivalents at the end of the period was SEK 262 M, compared to SEK 376 M at the beginning of the year.

CEO Comments

Approval in 11 EU markets and continued sales growth provide strong platform for the upcoming launch

This third quarter report is my first as Sedana Medical's CEO. In the first weeks after joining Sedana Medical on October 1, I have made it a priority to visit intensive care units in several countries and gather first-hand feedback from our customers. I had the opportunity to speak with many physicians, nurses and hospital administrators about their views on inhaled sedation and their experience with Sedaconda ACD (previously named AnaConDa). I am inspired by the fact that the clear benefits of inhaled sedation vs. previous standard of care, which we have shown in our pivotal trial, are seen and confirmed by hospital staff for their patients every day. I find this strong feedback very encouraging as we continue our journey to make inhaled sedation the standard therapy in intensive care.

I am especially pleased to see that clinics across Europe continue to use Sedaconda ACD in broad patient groups in a time when the number of Covid-19 patients has declined significantly in ICUs across many of our European markets. This confirms that – while Covid-19 has improved our starting position for the upcoming launch as many more ICUs are now trained and equipped to use our products - Sedana Medical's long-term potential is not dependent on Covid-19.

Sales in the quarter totalled SEK 28 million, an increase of 34 percent at fixed exchange rates compared to last year. It is very positive to note that all of our businesses have contributed to the positive development. Our largest market Germany has continued to show steady growth while our other direct markets have returned to positive year-over-year growth after the first two quarters had been impacted by the extraordinary development during the first wave of the Covid-19 pandemic. We have also seen a strong increase in demand in our distributor markets, specifically from Latin America.

During the third quarter, we reached a key milestone when our proprietary pharmaceutical product Sedaconda (isoflurane) obtained European DCP approval. To date, we have received national approvals for 11 of the 15 EU countries that were included in the DCP approval. The approval in today's largest market Germany was received in the end of September. The national approvals will enable us to commercialize the full therapy for inhaled sedation of mechanically ventilated patients in the ICU, consisting of our Sedaconda ACD device, our Sedaconda isoflurane drug and different accessories. We continue to expect product on the shelf in the first launch markets towards the end of the year.

Also during the quarter, the results of our pivotal study Sedaconda (SED001) were published in the renowned scientific journal, Lancet Respiratory Medicine. This publication in the leading journal in the field is an important element for our pre-launch activities. We hosted scientific symposia at both the annual congress of the European Society of Intensive Care Medicine, ESICM Lives, and the world's largest conference for intensive care and emergency medicine, ISICEM.

The United States represent the largest commercial opportunity for Sedaconda. Preparations for the US registration have continued during the quarter with the recruitment of the first Sedana Medical employees in the United States. We are working towards obtaining an Investigational New Drug (IND) approval before year end to enable the start of our pivotal studies at the turn of Q1/Q2, 2022. On the commercial side, we are thoroughly asssessing which go-to-market strategy will offer the most attractive route for Sedana Medical. A decision whether we will build up our own commercial infrastructure in the US will be communicated in 2022 at the latest.

I am excited to join my passionate and highly qualified colleagues at Sedana Medical at this important point in our company's history. With differentiated products, convincing scientific evidence and existing usage of Sedaconda ACD in 34 countries around the globe, we have a strong platform for continued success, and I look forward to getting back to you on our future progress.

Johannes Doll, CEO and President

 Significant events during the period

  • In January and February an application for market approval for the drug candidate Sedaconda (isoflurane), previously known as IsoConDa, for inhaled sedation in intensive care was submitted in Switzerland and the United Kingdom.
  • In February the first patient was included in the company's paediatric study IsoCOMFORT (SED002), which is being conducted to study whether inhaled sedation with Sedaconda (isoflurane) delivered via Sedaconda ACD is a safe and more effective method of sedation than intravenously administered midazolam, for children below 18 years of age.
  • In June the pivotal phase 3 Sedaconda study (SED001) was selected as one of the top three posters at the 52nd DGIIN & ÖGIAIN Intensive Care Conference.
  • In early July, Sedana Medical's Quality Management System (QMS) received approval under the EU Medical Device Regulation (MDR) 2017/745. This approval means that Sedana Medical's Class I medical device accessories can continue to be sold with CE marking in the EU.
  • In July, a successful End of Phase 2 advisory meeting was completed with the US Food and Drug Administration (FDA). The FDA accepted Sedana Medical's proposed phase 3 programme, including the study design and the primary endpoint for the studies. The positive outcome allows the company to enter phase 3 in line with the communicated timeline.
  • In July, a positive outcome was obtained for the application for European marketing authorisation for the pharmaceutical product Sedaconda (isoflurane) for inhaled sedation in intensive care, what is known as DCP approval. Sedaconda is indicated for the sedation of mechanically ventilated adult intensive care patients and is to be administered only via the Sedaconda ACD medical device.
  • In August, the results of the company's pivotal study Sedaconda (SED001) was published in the highly respected scientific journal The Lancet Respiratory Medicine.
  • At the end of September, marketing authorisation was obtained for inhaled sedation in Germany. The application was approved by the German regulatory authority BfArM and is based on the DCP approval obtained by Sedana Medical in July.

Significant events after the period

  • After being appointed by the Board in May, Johannes Doll took office as Sedana Medical's new CEO on October 1, 2021.

Please find the full interim report at: sedanamedical.com 

This document has been prepared in a Swedish and English version. In the event of any deviations, the Swedish version shall prevail.

Sedana Medical will hold a telephone conference at 13:30 pm (CET)

Thursday November 4, 2021.

To participate, please dial: +46 8 505 583 65

For additional log in information:

https://tv.streamfabriken.com/sedana-medical-q3-2021 

https://financialhearings.com/event/13795 

For additional information, please contact:

Johannes Doll, CEO, +46 (0)76 303 66 66

Susanne Andersson, CFO, +46 (0)73 066 89 04

ir@sedanamedical.com

This information is such that Sedana Medical AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, on November 4, 2021, at 07:00 am (CET).

Sedana Medical is listed on Nasdaq First North Growth Market in Stockholm.

The company's Certified Adviser is Erik Penser Bank, +46 8 463 83 00, certifiedadviser@penser.se.

About Sedana Medical

Sedana Medical AB (publ) is a pioneer medtech and pharmaceutical company focused on inhaled sedation to improve the patient's life during and beyond sedation. Through the combined strengths of the medical device Sedaconda ACD and the pharmaceutical Sedaconda (isoflurane), Sedana Medical provides inhaled sedation for mechanically ventilated patients in intensive care.

Sedana Medical has direct sales in Benelux, France, Germany, Great Britain, the Nordic, and Spain. In other parts of Europe as well as in Asia, Australia, Canada, and South- and Central America, the company works with external distributors.

Sedana Medical was founded in 2005, is listed on Nasdaq First North Growth Market (SEDANA) and headquartered in Stockholm, Sweden.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/sedana-medical/r/sedana-medical-ab--publ--third-quarter-report-2021,c3446783

The following files are available for download:

https://mb.cision.com/Main/15764/3446783/1491200.pdf

Sedana Medical Interim report Q3 2021

https://mb.cision.com/Public/15764/3446783/a881658291048cac.pdf

PR Sedana Medical publ Q3 2021 Interim report 211104

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.