PARIS --(BUSINESS WIRE)--
STENTYS (Paris:STNT) (FR0010949404 — STNT), a medical technology company commercializing the world's first and only Self-Apposing® coronary stent, today announces its revenues for the fourth quarter and full year 2016.
2016 annual and fourth-quarter revenues*
|€ thousand||2016||2015||% change||2016||2015|| |
* Figures reviewed by the statutory auditors
Over the fourth quarter of 2016, STENTYS recorded revenues of almost €2.0 million, an increase of +5% compared with the fourth quarter of 2015. This limited growth rate was notably due to the commercial reorganization undertaken during the second half of 2016 in order to benefit from a more operational structure in 2017.
Over 2016 as a whole, revenues were up +20%, at €7.3 million.
Solid cash position of €17 million as a result of the €12.6 million rights issue and cost reductions
At December 31, 2016, STENTYS had a cash position of €17 million, versus €10.7 million at December 31, 2015, due firstly to the rights issue carried out in February 2016 and secondly to the cost reductions achieved over the second half of the year thanks to the reorganization of certain operational functions initiated in July.
Recomposition of the Board of Directors
On the initiative of the Chairman of the Board of Directors, and within the context of the refocusing of STENTYS’ activities on high-potential markets in Europe, the Middle East, Asia and Latin America, the Company’s two North American Directors, Mrs. Dianne Blanco and Mr. Michael Lesh, have stood down from the Board.
Christophe Lottin, Chief Executive Officer, comments: “We recorded annual growth of 20% in 2016, while reorganizing STENTYS’ operational and commercial functions in the fourth quarter in order to better meet market expectations and maintain our cash position. In 2017, our ambition will be to accelerate our growth by maximizing the adoption of our stents by cardiologists in Europe and high-potential countries while continuing to control our operating costs.”
Upcoming financial publication
STENTYS expects to publish its 2016 annual results on Wednesday March 22, 2017
STENTYS is developing and commercializing innovative solutions for the treatment of patients with complex artery disease. STENTYS’ Self-Apposing® drug-eluting stents are designed to adapt to vessels with ambiguous or fluctuating diameters in order to prevent the malapposition problems associated with conventional stents. The APPOSITION clinical trials in the treatment of acute myocardial infarction showed a very low one year mortality rate and a faster arterial healing compared to conventional stents. The company’s product portfolio also includes MiStent SES®, a coronary DES whose new drug delivery mechanism is designed to match vessel response, and is marketed through STENTYS’ commercial network in Europe, the Middle East, Asia and Latin America. More information is available at www.stentys.com
STENTYS is listed on Comp. C of the Euronext Paris
ISIN: FR0010949404 – Ticker: STNT
Safe Harbor Statements
This press release contains forward-looking statements about the Company that are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future which may not be accurate. Such forward-looking statements involve known and unknown risks which may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the development and commercialization of the Company’s products, market acceptance of the Company’s products, its ability to manage growth, the competitive environment in relation to its business area and markets, its ability to enforce and protect its patents and proprietary rights, uncertainties related to the U.S. FDA approval process, slower than expected rates of patient recruitment for clinical trials, the outcome of clinical trials, and other factors, including those described in the Section 4 “Risk Factors” of the Company’s 2015 Registration Document (document de référence) filed with the French Autorité des Marchés Financiers (AMF) on August 30, 2016 under number D.16-804.
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