IRRAS AB publishes Interim Report for the Period January to September 2019
STOCKHOLM, Nov. 14, 2019 /PRNewswire/ -- "Since the US is the world's largest market for neurosurgical procedures, we have focused much of our team's resources toward supporting a successful early market introduction. Response to our IRRAflow technology remains strong, and our sales funnel is full. Patient treatments with IRRAflow continued to increase, and multiple hospital systems moved from evaluating IRRAflow into the approval and purchasing phase."
Kleanthis G. Xanthopoulos, Ph.D., President and CEO of IRRAS
Third quarter, July - September 2019
Net revenue amounted to SEK 0.9 million (0.0)
Operating loss (EBIT) amounted to SEK -35.9 million (-40.0)
Loss after tax amounted to SEK -35.7 million (-41.8)
Earnings per share before and after dilution amounted to SEK -1.24 (-1.75)
Period January - September 2019
Net revenue amounted to SEK 1.9 million (6.0)
Operating loss (EBIT) amounted to SEK -115.7 million (-93.2)
Loss after tax amounted to SEK -114.6 million (-88.8)
Earnings per share before and after dilution amounted to SEK -4.36 (-3.74)
Important events during the quarter
Issuance of new patent for core IRRAflow technology The patent includes both system and method claims for performing and regulating fluid exchange in IRRAflow. The new patent complements the existing patent portfolio and broadens the IP protection for the company's core technology further.
Key hires to the company In September, IRRAS announced the appointments of a Head of Regulatory Affairs and a Director, Project Engineering to drive IRRAS' continued growth and that Vinny Podichetty VP, Clinical, Regulatory Affairs & Quality, resigned for personal reasons.
Other key accomplishments
During the quarter, the initial clinical experience with IRRAflow in the United States was published in the peer-reviewed World Neurosurgery journal. The peer-reviewed article by Dr. Sumeet Vadera and his team from the University of California, Irvine highlights the use of IRRAflow in chronic subdural hematoma patients and reinforces key messages about the system's safety, treatment impact, and cost effectiveness.
Important events after the end of the quarter
No important events have taken place after the end of the quarter.
IRRAS AB is a global healthcare company focused on delivering innovative medical technologies to our customers and their patients. IRRAS designs, develops and commercializes products that improve patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methods in neurocritical care. IRRAS currently markets and sells its IRRAflow and Hummingbird product lines to hospitals worldwide through its direct sales organizations in the U.S. and select European countries and a network of distribution partners in other markets.
IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.
IRRAS AB (publ) is listed on Nasdaq First North Premier Growth Market (ticker: IRRAS). Redeye AB is certified adviser of the company with email [email protected] or phone +46 8 121 576 90.
For more information, please contact:
USA Kleanthis G. Xanthopoulos, Ph.D. President and CEO [email protected]
This document is considered information that IRRAS is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on November 14, 2019 at 8:00 a.m. (CET).
The "Whole Genome and Exome Sequencing Markets by Application, Organism and Product with Executive and Consultant Guides. Includes Direct to Consumer Analysis. 2023 to 2027" report has been added to ResearchAndMarkets.com's offering.
Will all...
Pharma (1167.HK), a clinical-stage oncology company drugging the undruggable targets, today announced its 2023 annual results. The revenue was RMB63.5 million, the R&D investment was RMB372 million, the cash and cash equivalent at the end of 2023 was...
InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company announced that the first patient in China has been dosed in the Phase 1b clinical study of the combination of InnoCare's novel SHP2 (Src Homology 2 domain containing...
Striking Teamsters at pharmaceutical giant Cencora (formerly known as AmerisourceBergen) rallied today outside the company's Sacramento distribution center. The 124 warehouse workers are members of Teamsters Local 150 and have been on strike since...