Brief: Sequana Medical FY Net Loss Widens To 19.1 Million Euros

Sequana Medical NV

17/03/2021 06:15

March 17 (Reuters) - Sequana Medical NV  SEQUA.BR :
    * FY BASIC LOSS PER SHARE 1.25 EUR VERSUS 1.22 EUR LOSS YEAR
AGO
    * ENROLMENT OF ROLL-IN AND PIVOTAL COHORTS OF NORTH AMERICAN
PIVOTAL POSEIDON STUDY OF ALFAPUMP IS CONTINUING AND COMPANY IS
CONFIDENT OF MAINTAINING STRONG CLINICAL RESULTS
    * FULL ENROLMENT OF STUDY IS NOW EXPECTED IN Q2 2021
    * FY REVENUE (€0.96 MILLION) REMAINED AT A SIMILAR LEVEL
COMPARED
TO THE SAME PERIOD LAST YEAR (€0.97 MILLION)
    * THIS WILL IN TURN DELAY PLANNED REPORTING OF PRIMARY
ENDPOINT
FROM Q1 2022 TO Q2 2022
    * DELAYS RELATED TO ONGOING COVID-19 PANDEMIC
    * INTERIM DATA FROM LARGER ROLL-IN COHORT REMAINS ON TRACK
TO BE
REPORTED IN Q2 2021
    * FY EARNINGS BEFORE INTEREST AND TAXES (EBIT) INCREASED
FROM A
LOSS OF €13.96 MILLION IN 2019 TO A LOSS OF  €17.77 MILLION IN
2020
    * FY NET LOSS INCREASED FROM €14.98 MILLION IN 2019 TO
€19.11
MILLION IN 2020
    * RED DESERT REPEATED DOSE STUDY OF ALFAPUMP DSR IN
DIURETIC-RESISTANT HEART FAILURE PATIENTS IS ENROLLING UP TO
FIVE ADDITIONAL PATIENTS, WITH TOP-LINE DATA EXPECTED IN Q2 2021
    * IS PREPARING SAHARA DESERT, A STUDY TO EVALUATE DOSING AND
FREQUENCY OF ALFAPUMP DSR THERAPY IN DECOMPENSATED HEART FAILURE
PATIENTS WITH RESIDUAL CONGESTION, EXPECTED TO START IN Q2 2021
WITH INTERIM DATA EXPECTED BEFORE YEAR-END
    * ENDED 2020 WITH A TOTAL LIQUIDITY POSITION OF €11.02
MILLION
(2019: €5.59 MILLION)
    * IS EXPECTED TO LIMIT EUROPEAN ALFAPUMP SALES IN H1 2021
WHILE
COMPANY WILL CONTINUE TO PRIORITISE ALFAPUMP SUPPLY TO ITS
CLINICAL STUDIES
    * NORMAL COMMERCIAL ACTIVITY IN EUROPE IS EXPECTED TO RESUME
IN H2
2021

Source text for Eikon:  ID:nGNE7C0F4n 
Further company coverage:  SEQUA.BR 

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