Brief: Sequana Medical Announces EUR 7.3 Mln Debt Financing

Sequana Medical NV

28/07/2020 06:12

July 28 (Reuters) - Sequana Medical NV  SEQUA.BR :
    * SEQUANA MEDICAL ANNOUNCES €7.3 MILLION DEBT FINANCING AND
PROVIDES CLINICAL UPDATE
    * CASH RUNWAY EXTENDED INTO H2 2021 ENABLING SEQUANA MEDICAL
TO
REACH KEY NEAR TERM VALUE INFLECTION POINTS
    * LOANS HAVE A TERM OF 36 MONTHS AND ARE REPAYABLE IN FULL
UPON
EXPIRY OF TERM
    * LOANS BEAR AN INTEREST OF 6% PER ANNUM, EXCEPT THAT
CONVERTIBLE
PORTION OF LOANS BEAR AN INTEREST OF 5% PER ANNUM
    * POSEIDON - IMPLANTS RESUMED AND INTERIM RESULTS EXPECTED
IN 
    * RED DESERT - IMPLANTS RESUMED AND INTERIM RESULTS
ANTICIPATED IN
Q4 2020 AND TOP-LINE RESULTS IN Q1 2021
    * POSEIDON STUDY AIMS TO SUPPORT APPROVAL OF ALFAPUMP IN
U.S. AND
CANADA, WITH FDA SUBMISSION EXPECTED IN H1 2022
    * Q1 2021

Source text for Eikon:  ID:nGNX9Kgt6K 
Further company coverage:  SEQUA.BR 

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