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2022-04-29

Episurf: Interim Report 1 January - 31 March 2022

  • Strong finish in the quarter despite a challenging start - new customer record and positive trend in April
  • Continued focus on UK market - Ideal Med appointed UK distributor
  • Progress on product development initiatives targeting US market

"Despite a challenging start to the quarter, improvements were identified late March and during April, and it will be interesting to see whether we can confirm this trend in the coming weeks and months. We did set a new record for number of customers during the quarter, with good margin, and the normalisation of business volumes, combined with the positive receipt from new and existing customers following the pandemic, confirms my view that the Episealer® technology is here to stay. We continue to operate with an ambitious global agenda, supported by excellent clinical results, targeting an unmet clinical need of significant size. In our world, that is a formula for progress and success", says Pål Ryfors, CEO Episurf Medical.

First quarter 2022 compared to 2021, Group

  • Gross order intake amounted to SEK 1.7m (2.1)
  • Order book amounted to SEK 1.5m (1.8)
  • Group net sales amounted to SEK 1.6m (1.6)
  • Loss for the period amounted to SEK -16.4m (-16.7)
  • Earnings per share amounted to SEK -0.06 (-0.08)

Significant events during the first quarter

  • Episurf Medical received reimbursement coverage for Episealer® Talus in Belgium
  • Episurf Medical took the next step in the UK by the appointment of Ideal Med Ltd as agent
  • Prospective Episealer® Talus study was 50% recruited
  • Episurf Medical's implants were approved for sale in Malaysia
  • First Episealer® Talus surgery was planned in Norway

Significant events after the first quarter

  • Episurf Medical submitted follow-up 510(k) application for Episealer® Patellofemoral System that is now under substantive review at the US FDA
  • Prospective investigator-initiated study for 2 years' follow-up of Episealer® Talus patient initiated
  • First Episealer® surgery was planned in Saudi Arabia and Belgium

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)

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