Brief: Onward Medical H1 Net Loss Widens To EUR 16.0 Mln

ONWARD Medical

27/09/2022 06:43

Sept 27 (Reuters) - Onward Medical NV  ONWD.BR :
    * ONWARD REPORTS FIRST HALF 2022 FINANCIAL AND OPERATING
RESULTS
    * COMPANY ENDED SIX-MONTH PERIOD WITH A POSITIVE CASH
BALANCE OF
EUR 76,8 MILLION (31 DECEMBER 2021: EUR 89,4 MILLION)
    * MANAGEMENT REITERATED ITS GUIDANCE OF A CASH RUNWAY
THROUGH END
OF 2024
    * ONWARD REPORTED AN OPERATING LOSS OF EUR 15.1 MILLION FOR
FIRST
SIX MONTHS OF 2022 COMPARED TO EUR 9.3 MILLION IN SAME PERIOD OF
2021
    * H1 NET LOSS FOR THE PERIOD EUR 16.0 MILLION VERSUS LOSS
EUR 12.2
MILLION YEAR AGO
    * WE EXPECT OUR CURRENT CASH TO PROPEL OPERATIONS THROUGH
END OF
2024 AND SUPPORT OUR PLANNED INVESTMENTS IN PRODUCT DEVELOPMENT,
CLINICAL TRIALS, OPERATIONAL CAPABILITIES, AND COMMERCIAL LAUNCH
IN 2023
    * H1 TOTAL REVENUE AND OTHER INCOME EUR 1.0 MILLION VERSUS
EUR 0.6
MILLION YEAR AGO
    * IN SECOND HALF OF 2022, TOP-LINE DATA FROM LIFT HOME STUDY
ARE
EXPECTED
    * IN SECOND HALF OF 2022, COMPANY EXPECTS TO RELEASE
COMBINED
TOP-LINE DATA FROM STIMO-HEMO AND HEMON STUDIES
    * EXPECTS TO CONTINUE BUILDING ITS TEAM AND CAPABILITIES IN
PREPARATION FOR LAUNCH OF ITS ARC-EX THERAPY IN SECOND HALF OF
2023
    * EXPECTS TO CONTINUE STEADY AND CONSISTENT EXECUTION OF ITS
STRATEGY IN SECOND HALF OF 2022 AND BEYOND

Source text for Eikon:  ID:nBw7hNvyva 
Further company coverage:  ONWD.BR 
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