- Significant result and cash flow improvements
- Distribution agreement with Joint Operations for several European markets
- First sales through the Johnson & Johnson distributor network
"We hereby conclude the year 2024, a year in which we have made great progress. We have delivered on a significant part of our cost savings program. In the fourth quarter of 2024, we improved operating cash flow by SEK 7.6m to SEK -12.9m, a development I am very happy about. During 2024, we delivered on a substantial part of our cost reduction program, and we are now seeing a clearly improved trend, while also increasing sales and taking significant steps in the US. The first sale through Johnson & Johnson's distributor network has now taken place, and in Europe we are taking a big step through our recently signed agreement with Joint Operations for several European countries. Finally, we believe that we are in the absolute final phase of our 510(k) process for our big toe implant in the US. All in all, there is a high level of activity, and we look forward to 2025 with confidence", says Pål Ryfors, CEO Episurf Medical.
Fourth quarter 2024 compared to 2023, Group
» Gross order intake amounted to SEK 3.1m (3.1)
» Group net sales amounted to SEK 3.4m (3.0)
» Order book amounted to SEK 2.4m (3.1)
» Loss for the period amounted to SEK -18.1m (-21.9)
» Earnings per share amounted to SEK -0.03 (-0.07)
Twelve months 2024 compared to 2023, Group
» Gross order intake amounted to SEK 13.0m (11.1)
» Group net sales amounted to SEK 13.0m (10.3)
» Loss for the year amounted to SEK -76.0m (-94.8)
» Earnings per share amounted to SEK -0.15 (-0.30)
Significant events during the fourth quarter 2024
» US VAC permissions granted for Episurf Medical
» Seven new patent approvals for Episurf Medical
Significant events during previous quarters 2024
» Results from up to 10 years follow-up of Episealer® patients were accepted for presentation
» Episurf Medical has carried out a rights issue which incl. issue guarantees were subscribed to 75.0% and the company received SEK 90m before issue costs
» Episurf Medical has entered into four distribution agreements with exclusive distributors of DePuy Synthes, the orthopaedic arm of the Johnson & Johnson Group, for several US states
» Update on 510(k) application for big toe implant
» Niles Noblitt, through Sacajo Investments LLC, made investment in Episurf through an arrangement with CEO Pål Ryfors
» Episealer® technology was presented at international scientific congress
Significant events after the quarter
» Episurf Medical has announced that a response to the US FDA, addressing a request for additional information on the company's Episealer® MTP implant, has been filed
» Episurf Medical enters into a distribution agreement for several European countries with Joint Operations Ltd
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
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.
The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on February 5 2025..
