- Consolidated revenues for the third quarter of 2019: €1.3
million, down 41%
- Sales of the Amazonia SIR stent temporarily
suspended
- Consolidated cash position at September 30, 2019: €8.0
million
Regulatory News:
STENTYS (Paris:STNT) (FR0010949404 — STNT), a French
group specialized in medical technologies for interventional
cardiology, today announced its quarterly revenues and consolidated
cash position at September 30, 2019.
Revenues for the third quarter and first 9 months of
2019
€ thousands
Q3 2019
Q3 2018
% change
9M 2019
9M 20181
% change
Europe2
930
1,164
-20%
3,771
3,318
+14%
Rest of the world
403
1,105
-63%
2,625
2,590
+1%
Total revenues
1,333
2,269
-41%
6,396
5,908
+8%
Audited data (except pro forma information)
€ thousands
Q3 2019
Q3 2018
% change
9M 2019
9M 20181
% change
Stents
501
1,416
-65%
3,512
4,366
-20%
Balloons & accessories
832
853
-2%
2,884
1,543
+87%
Total revenues
1,333
2,269
-41%
6,396
5,908
+8%
Audited data
STENTYS completed the acquisition of MINVASYS during the second
quarter of 2018, its activity being consolidated from May 1, 2018.
The changes presented for the first 9 months of 2019 are therefore
partly due to different scopes of consolidation. The following pro
forma information thus provides a vision of revenue changes on a
comparable basis.
Pro forma revenues for the first 9 months of 2019
€ thousands
9M 2019
9M 2018
Pro forma3
% change
Europe2
3,771
4,115
-8%
Rest of the world
2,625
3,662
-28%
Total revenues
6,396
7,777
-18%
Audited data (except pro forma information)
€ thousands
9M 2019
9M 2018
Pro forma3
% change
Stents
3,512
4,972
-29%
Balloons & accessories
2,884
2,806
+3%
Total revenues
6,396
7,777
-18%
Audited data (except pro forma information)
Over the first 9 months of 2019, the Group generated revenues of
€6.4 million, down 18% compared with the first 9 months of 2018
(pro forma1), heavily impacted by a 41% fall in the third quarter
of 2019 compared with the third quarter of 2018.
Within the framework of a CE marking renewal process, the
Company received a request from the French health authorities on
August 2, 2019, following the announcement of its planned early
dissolution, to suspend sales of its Amazonia SIR stent within the
framework of a transitional regulatory provision. On October 7,
2019, the Company was authorized to resume sales of this product
until January 8, 2020. Amazonia SIR stent sales thus tumbled 89% in
the 3rd quarter of 2019.
Within this context, the Company’s procurement difficulties
significantly intensified in the third quarter of 2019, leading to
a 55% decrease in sales of the Xposition S stent. In contrast,
Minvasys’ coronary balloon ranges recorded growth of 14% in the
third quarter of 2019.
Cash position of €8.0 million
The Group had a cash position of €8.0 million on September 30,
2019 compared with €8.1 million on June 30, 2019. This variation is
mainly due to the context in which the Company is operating, and in
particular to the receipt of cash orders and limited production in
the third quarter of 2019.
Upcoming publications
- The Company will publish its half-yearly financial statements
at net asset value on Monday October 14, 2019.
- The next steps relative to the Company’s planned dissolution
will be indicated in the press release of Monday October 14, 2019
presenting half-yearly financial statements at net asset
value.
Extraordinary Shareholders’ Meeting of October 21,
2019
STENTYS will hold its Extraordinary Shareholders’ Meeting on
October 21, 2019 at 4 pm CEST at the Bedford Hotel, 17 rue
de l'Arcade, 75008 Paris.
Preparatory documents for this Meeting, including the postal
voting form, are available on the Company’s website,
www.stentys.com, in the Investisseurs / Assemblée générale
section of the French version.
If you are a STENTYS shareholder and wish to vote on the
resolutions, you can:
- vote via your bank’s web portal, if your bank subscribes to the
VOTACCESS platform,
- vote by post, in accordance with the T&Cs indicated in the
Participation Guide available on the STENTYS website,
- attend in person, by requesting an admission ticket.
Should the required quorum not be met, the Extraordinary
Shareholders’ Meeting on the second call would be held on
November 14, 2019 and postal votes will remain valid and taken
into account.
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 Paris
ISIN: 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 Pro forma data not yet reviewed by the statutory auditors,
presented in accordance with IFRS 15. The acquisition of Minvasys
by STENTYS was completed on April 30, 2018 and its activity
consolidated from May 1, 2018. This data was calculated to provide
a comparable vision of the Group’s activity as if the acquisition
had been completed on January 1, 2018.
2 Germany, Italy, Switzerland, Austria, Poland, Netherlands,
France, Belgium, United Kingdom, Spain, Greece, Portugal and Nordic
countries.
3 Pro forma data not yet reviewed by the statutory auditors,
presented in accordance with IFRS 15. The acquisition of Minvasys
by STENTYS was completed on April 30, 2018 and its activity
consolidated from May 1, 2018. This data was calculated to provide
a comparable vision of the Group’s activity as if the acquisition
had been completed on January 1, 2018.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191011005227/en/
STENTYS André Lerebours CFO Tel.: +33 (0)1 44 53 99 42
investor@stentys.com
NewCap Investor Relations / Strategic Communications
Dusan Oresansky / Alexia Faure Tel.: +33 (0)1 44 71 94 92
stentys@newcap.eu