In our view, the most important events in Q3 were the presentation of long-term clinical data from the Swedish trial and very strong 2-year follow-up data from the large European (80 patients) multi-centre trial. Q3 was largely in line with our expectations, and we note that the number of procedures is increasing despite a negative Covid-19 impact. We reiterate our fair value of
Q3 operating loss in line with our forecast. Q3 sales of
Clinical data on the longer-term outcome expanded further. The most important events during the quarter, in our view, were the publication of the long-term follow-up data (5-7 years) for the first Swedish patients and the 2-year follow-up data from the European multi-centre study, which both showed excellent outcomes and long-term performances. In the European trial, 80 patients have now been followed for at least two years, and all outcome variables (KOOS and VAS Pain) showed a statistically significant improvement over baseline values. At the same time, the revision rate for the implants was low at only 2.5% after two years.
Ambitious sales targets at CMD in September. Among other things,
The US IND trial has started, and the first patients have now been included and received their implants. The Covid-19 pandemic continues to affect recruitment to the trial, but the company reiterated that it is hopeful it will be able to conclude recruitment by end-2021 as planned.
Fair value of
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