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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Episurf Medical AB (publ)    EPIS B   SE0003491562

EPISURF MEDICAL AB (PUBL)

(EPIS B)
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Episurf Medical : Interim Report 1 July - 30 September 2020

10/23/2020 | 02:31am EST

"I am pleased with the performance during the third quarter of 2020. First and foremost, we experienced a continued increase in the clinical usage of the Episealer® technology, best evidenced by a record 88 Episealer® orders approved. This figure represents an increase of 57% compared to the same period in 2019, and a 76% increase compared to Q2 2020. We have increased the number of users during the year, and surgeries have taken place 12 countries during 2020. We are creating a strong foundation for the future, and I believe this growth is impressive during the experimental and clinical phase, and we must not forget the current pandemic and its impact on elective surgeries", says Pål Ryfors, CEO Episurf Medical.

Third quarter 2020 compared to 2019, Group

· Gross order intake amounted to SEK 1.8m (1.4), an increase of 26%. We experienced a 57% increase in orders for Episealer® implants during the quarter with 88 (56) approved orders
· Order backlog amounted to SEK 1.6m (1.5), an increase of 6%
· Group net sales increased by 33% to SEK 1.5m (1.1)
· Loss for the period amounted to SEK -15.4m (-17.5); the decreased costs during the quarter are primarily due to SEK 2.0m lower cost for the EPIC-Knee study
· Earnings per share amounted to SEK -0.08 (-0.19)

First nine months 2020 compared to first nine months 2019, Group

· Gross order intake amounted to SEK 4.3m (4.0) an increase of 7%
· 48% increase in orders for Episealer® implants during the first nine months with 206 (139) approved orders
· Group net sales decreased by 3% to SEK 3.5m (3.6) during the first nine months
· Loss for the period amounted to SEK -47.7m (-51.1)
· Earnings per share amounted to SEK -0.32 (-0.86)

Significant events during the third quarter

· Results from Swedish multi-centre clinical trial with follow-up of 30 Episealer® patients was accepted for scientific publication
· Results from European multicenter study with follow-up of 80 Episealer® patients was accepted for scientific publication
· Episurf Medical provided long-term market share targets for the Episealer® knee technology in the initially prioritised markets
· Episurf Medical became an approved supplier to BMI Healthcare, the largest hospital provider in the UK
· Episurf Medical received patent approval in Europe
· Episealer® implants were approved for sale in France
· Episealer® surgery in France and Poland was scheduled, which constitute new markets for Episurf
· First surgery was performed in Episurf Medical's IDE study for the Episealer® Knee implant
· Episurf Medical reached a milestone of 800 approved implants

Significant events after the third quarter

· The first Episealer® surgery was performed in the US
· Episurf Medical entered into a distribution agreement for additional markets in Asia

For more information, please contact:

Pål Ryfors, CEO, Episurf Medical
Tel:+46 (0) 709 62 36 69
Email: pal.ryfors@episurf.com

Veronica Wallin, CFO, Episurf Medical
Tel:+46 (0) 700 37 48 95
Email: veronica.wallin@episurf.com (pal.ryfors@episurf.com)

About Episurf Medical

Episurf Medical is endeavoring to bring people with painful joint injuries a more active, healthier life through the availability of minimally invasive and individualised treatment alternatives. Episurf Medical's Episealer® individualised implants and Epiguide® surgical drill guides are developed for treating localised cartilage injury in joints. Episurf Medical's μiFidelity® system enables implants to be cost-efficiently tailored to each individual's unique injury for the optimal fit and minimal intervention. Episurf Medical's head office is in Stockholm, Sweden. Its share (EPIS B) is listed on Nasdaq Stockholm. For more information, go to the company's website: www.episurf.com.

This information is information that Episurf Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CEST on 23 October 2020.

https://news.cision.com/episurf/r/interim-report-1-july---30-september-2020,c3221392

https://mb.cision.com/Main/14691/3221392/1323016.pdf

https://news.cision.com/episurf/i/img-0176,c2841762

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 6,00 M 0,71 M 0,71 M
Net income 2020 -72,8 M -8,57 M -8,57 M
Net cash 2020 81,0 M 9,54 M 9,54 M
P/E ratio 2020 -5,54x
Yield 2020 -
Capitalization 409 M 48,1 M 48,2 M
EV / Sales 2020 54,7x
EV / Sales 2021 34,3x
Nbr of Employees 25
Free-Float 89,1%
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Mean consensus -
Number of Analysts 2
Average target price 4,00 SEK
Last Close Price 2,21 SEK
Spread / Highest target 81,0%
Spread / Average Target 81,0%
Spread / Lowest Target 81,0%
EPS Revisions
Managers
NameTitle
Pål Ryfors Chief Executive Officer
Dennis D. Stripe Chairman
Katarina Flodstrom Chief Operating & Regulatory Officer
Veronica Wallin Chief Financial Officer
Leif Erik Sigfrid Ryd Independent Director
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