• Consolidated revenues for the third quarter of 2018: €2.3 million
  • Consolidated cash position at September 30, 2018: €10.5 million

Regulatory News:

STENTYS (Paris:STNT) (FR0010949404 — STNT), French group specialized in medical technologies for interventional cardiology, today reported its quarterly revenues and its consolidated cash position at September 30, 2018.

Third-quarter and nine-month 2018 revenue trends

€ thousands  

Nine months2018

 

Nine months2017

  % chg.   Q3 2018   Q3 2017   % chg.

Europe1

  3,318   3,378   -2%   1,164   992   +17% Rest of the world   2,590   1,785   +45%   1,105   623   +77% Total revenues   5,909   5,162   +14%   2,269   1,615   +40%

Audited data

Following the acquisition of MINVASYS, which was consolidated from May 1, 2018, the STENTYS group generated €2.3 million in revenues during the third quarter of 2018, up 40% compared to the third quarter of 2017. Excluding the impact of the acquisition, STENTYS’ third-quarter 2018 revenues declined 30% to €1.1 million. This fall is mainly due to the downturn in the global coronary stent market as a result of heavy pricing pressures amid an acceleration in product commoditization.

In the third quarter of 2018, sales of the Xposition S stent shrank 28% in value and 33% in volume.

Third-quarter and nine-month 2018 revenue trends (pro forma figures)2

€ thousands  

Nine months2018

 

Nine months2017

  % chg.   Q3 2018   Q3 2017   % chg. Europe1   4,137   5,077   -19%   1,164   1,614   -29% Rest of the world   3,639   4,001   -9%   1,105   1,324   -14% Total revenues   7,776   9,078   -14%   2,269   2,938   -23%

Unaudited data

Over the first nine months of 2018, STENTYS’ pro forma2 revenues came to €7.8 million, down 14% compared to the same period of 2017. They declined 19% in Europe and 9% in the Rest of the world.

Pro forma2 revenues generated from the sale of stents during the first nine months of 2018 fell 18% to €5.0 million.

The range of coronary dilatation balloons and accessories integrated through the acquisition of MINVASYS recorded a modest sales contraction (down 7%) to €2.8 million (pro forma figures2).

Christophe Lottin, Chief Executive Officer of STENTYS, commented: “As we have regularly said, STENTYS has been operating in a mature market in recent years in which strong competition has steadily driven down stent prices despite their increasingly powerful mechanical and clinical features. At the same time, increased regulatory constraints have slowed down the introduction of new less-costly manufacturing processes and the expansion into new markets in a competitive timeframe compared to larger rivals. Given these new market conditions and based on our top-line performance, we are considering various solutions to address the foreseeable difficulties in the short term.”

Cash position of €10.5 million

The Group held €10.5 million in cash at September 30, 2018, down from €11.8 million at June 30, 2018.

About STENTYS

The STENTYS group develops and markets minimally-invasive cardiovascular solutions for the needs of interventional cardiology. Its extensive range of innovative products, including drug-eluting stents, coronary and drug-eluting balloons as well as cardiovascular accessories, is marketed in over 60 countries. Thanks to its flagship product, Xposition S, the self-apposing stent that adapts to vessels with variable diameters and enables the treatment of complex arterial disorders, and to its portfolio of balloons and accessories, STENTYS covers all coronary indications.

Additional information is available at www.stentys.com

STENTYS is listed on Compartment C of Euronext ParisISIN: FR0010949404 – Ticker: STNT

Forward-looking 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 2016 Registration Document (document de référence) filed with the French Autorité des Marchés Financiers (AMF) on November 29, 2017 under number D.17-1084.

1 Germany, Italy, Switzerland, Austria, Poland, The Netherlands, France, Belgium, United Kingdom, Spain, Greece, Portugal and Nordic countries.

2 Pro forma figures not reviewed by the Statutory Auditors, presented in accordance with IFRS 15 (mandatory application), not leading to any differences with IAS 18 as applied in 2017. STENTYS’ acquisition of MINVASYS was finalized on April 30, 2018, and its revenues were consolidated from May 1, 2018. These figures were calculated to provide a comparable picture of the Group’s business activities, as if the acquisition had been completed on January 1, 2017.

STENTYSAndré Lerebours, Tel.: +33 (0)1 44 53 99 42CFOinvestor@stentys.comorNewCapInvestor Relations / Strategic CommunicationsDusan Oresansky / Alexia Faure, Tel.: +33 (0)1 44 71 94 92stentys@newcap.eu