Brief: Sequana Medical FY EBIT Loss Widens To €28.09 Million

Sequana Medical NV

09/02/2023 06:18

Feb 9 (Reuters) - Sequana Medical NV  SEQUA.BR :
    * ALFAPUMP® - SUCCESSFUL PRIMARY ENDPOINT READ-OUTOF NORTH
AMERICAN PIVOTAL POSEIDON STUDY / PMA FILING PLANNED FOR H2 2023
    * DSR® (DIRECT SODIUM REMOVAL) - CLINICAL EVIDENCE OF
DISEASE-MODIFYING HEART FAILURE DRUG THERAPY, ON TRACK TO START
US PHASE 1/2A MOJAVE STUDY IN Q2 2023
    * TOTAL CASH POSITION OF EUR 18.9 MILLION AT END 2022 AND
CASH
RUNWAY INTO MID-2023
    * REVENUE INCREASED FROM EUR 0.37 MILLION IN 2021 TO EUR
0.92
MILLION IN 2022 AS RESULT OF RESUMED COMMERCIAL ACTIVITY IN
EUROPE AS IMPACT OF COVID DECLINES
    * COST OF GOODS SOLD INCREASED FROM EUR 0.08 MILLION IN 2021
TO
EUR 0.21 MILLION IN 2022 IN LINE WITH INCREASE IN REVENUE
    * TOTAL OPERATING EXPENSES INCREASED FROM EUR 24.11 MILLION
IN
2021 TO EUR 29.34 MILLION IN 2022
    * SALES AND MARKETING EXPENSES INCREASED FROM EUR 2.08
MILLION IN
2021 TO EUR 2.24 MILLION IN 2022 DUE TO RESUMPTION OF EUROPEAN
COMMERCIAL ACTIVITIES
    * CLINICAL EXPENSES INCREASED FROM EUR 7.80 MILLION IN 2021
TO EUR
9.77 MILLION IN 2022
    * AS A RESULT OF ABOVE, EARNINGS BEFORE INTEREST AND TAXES
(EBIT)
EVOLVED FROM A LOSS OF EUR 22.61 MILLION IN 2021 TO A LOSS OF
EUR 28.09 MILLION IN 2022
    * NET FINANCE COST INCREASED FROM EUR 0.61 MILLION IN 2021
TO EUR
2.28 MILLION IN 2022
    * NET LOSS INCREASED FROM EUR 23.62 MILLION IN 2021 TO EUR
30.76
MILLION IN 2022
    * NET DEBT AT 31 DECEMBER 2022 INCREASED BY EUR 0.23 MILLION
COMPARED TO 31 DECEMBER 2021
    * NET CASH OUTFLOW FROM OPERATING ACTIVITIES WAS EUR 27.48
MILLION
IN 2022 COMPARED TO EUR 23.62 MILLION IN 2021

Source text for Eikon:  ID:nGNE1hFKZP 
Further company coverage:  SEQUA.BR 
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