On 5 April, Sequana announced that it has completed all implantations required for the North American POSEIDON pivotal study assessing the alfapump device for the treatment of recurrent or refractory ascites (RRA) due to liver cirrhosis. Of the 71 patients enrolled in the study's pivotal cohort, 40 have been implanted with the device. Top-line data are expected in Q422, and the company expects to submit a US pre-market approval (PMA) application in mid-2023, which we believe could lead to a US launch in mid-2024. Sequana also recently completed a €28.4m (gross) equity raise, which should extend its operating runway into Q223. The dilutive effects of the offering are largely offset by rolling forward our estimates and our equity value per basic share is €13.55 (versus €14.55 previously).Den vollständigen Artikel lesen ...
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