{"id":44723,"date":"2022-05-10T07:03:55","date_gmt":"2022-05-10T07:03:55","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=91463"},"modified":"2022-05-10T07:03:55","modified_gmt":"2022-05-10T07:03:55","slug":"nyxoah-reports-first-quarter-2022-financial-and-operating-results","status":"publish","type":"post","link":"https:\/\/southafricagazette.com\/nyxoah-reports-first-quarter-2022-financial-and-operating-results\/","title":{"rendered":"Nyxoah Reports First Quarter 2022 Financial and Operating Results"},"content":{"rendered":"
REGULATED INFORMATION<\/b><\/p>\n
Nyxoah Reports First Quarter 2022 Financial and Operating Results<\/strong><\/p>\n Mont-Saint-Guibert, Belgium \u2013 May 10, 2022, 08:50pm CET \/ 2:50pm ET \u2013 Nyxoah SA (Euronext Brussels\/Nasdaq: NYXH)<\/strong>(\u201cNyxoah\u201d or the \u201cCompany\u201d), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the first quarter of 2022.<\/p>\n First Quarter 2022 Financial and Operating Highlights<\/strong><\/p>\n \u201cI am extremely pleased with our first quarter results and strong execution that resulted in an acceleration in sales and DREAM implants as we progress towards achieving all of our strategic priorities for 2022 and beyond,\u201d commented Olivier Taelman, Nyxoah\u2019s Chief Executive Officer. \u201cOn the commercial side, the\u00a0\u20ac660,000 of revenue we booked in the first quarter was roughly equal to the revenue performance from the previous three quarters combined. We now have 15 active implant sites in Germany, and we will continue to add 10 more sites by the end of the third quarter. This growth validates our patient-centric, \u2018Going Deep\u2019 strategy of developing Centers of Excellence as we increase therapy penetration at each of these sites. We were also thrilled to implant our first commercial CCC patients in Germany, and we expect continued acceleration in CCC implants following the positive response to our BETTER SLEEP data presentation at the World Sleep Congress in Rome, where we hosted 55 key opinion leaders during the pre-Congress symposium.\u201d<\/p>\n Mr. Taelman continued, \u201cWe are also happy with the acceleration in the pace of implants in our DREAM U.S. pivotal study, given recent weekly implant rates, which have increased meaningfully over the last month. We believe we have enough patients enrolled to complete the study by the end of the second quarter of 2022, particularly in light of the FDA\u2019s approval to reduce the sample size to 115 patients. We also continue our dialogue with FDA regarding our IDE submission for our ACCCESS trial for CCC patients in the U.S., and we expect to implant our first patient before the end of this year.\u201d<\/p>\n \u201cFinally, I am thrilled to announce the nominations of Ray Cohen and Ginny Kirby for appointment to the Board of Directors. They will bring a wealth of knowledge that will benefit Nyxoah as we complete DREAM, prepare for our U.S. launch, and advance our pipeline. I look forward to working closely with both of them,\u201d concluded Mr. Taelman.<\/p>\n First Quarter 2022 Results<\/strong><\/p>\n UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS AS AT AND FOR THE THREE MONTHS ENDED MARCH 31,<\/b>\u00a0<\/b>2022<\/b>\u00a0<\/b>\u2013 INTERIM CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS<\/b>\u00a0<\/b>(IN THOUSANDS)<\/b><\/p>\n \n The accompanying notes are an integral part of these condensed consolidated interim financial statements<\/em><\/p>\n \u00a0<\/strong><\/p>\n \n UNAUDITED CONSOLIDATED BALANCESHEET (in thousands)<\/strong><\/p>\n\n
\n\n
\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n For the three months ended March 31<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n Notes<\/strong><\/td>\n <\/td>\n 2022<\/strong><\/td>\n \u00a0<\/strong><\/td>\n 2021<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n<\/tr>\n \n Revenue<\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac\u00a0\u00a0660<\/td>\n <\/td>\n \u20ac\u00a0\u00a0185<\/td>\n<\/tr>\n \n Cost of goods sold<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n ( 289)<\/td>\n <\/td>\n ( 52)<\/td>\n<\/tr>\n \n Gross profit<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac\u00a0\u00a0371<\/strong><\/td>\n <\/td>\n \u20ac\u00a0\u00a0133<\/strong><\/td>\n<\/tr>\n \n Research and Development Expense<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n (3 595)<\/td>\n <\/td>\n (3 094)<\/td>\n<\/tr>\n \n Selling, General and Administrative Expense<\/td>\n <\/td>\n <\/td>\n <\/td>\n (4 193)<\/td>\n <\/td>\n (2 366)<\/td>\n<\/tr>\n \n Other income\/(expense)<\/td>\n <\/td>\n <\/td>\n <\/td>\n 136<\/td>\n <\/td>\n 4<\/td>\n<\/tr>\n \n Operating loss for the period<\/strong><\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n \u20ac (7 281)<\/strong><\/td>\n <\/td>\n \u20ac (5 323)<\/strong><\/td>\n<\/tr>\n \n Financial income<\/td>\n <\/td>\n <\/td>\n <\/td>\n 1 576<\/td>\n <\/td>\n 4<\/td>\n<\/tr>\n \n Financial expense<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n ( 788)<\/td>\n <\/td>\n ( 325)<\/td>\n<\/tr>\n \n Loss for the period before taxes<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac (6 493)<\/strong><\/td>\n <\/td>\n \u20ac (5 644)<\/strong><\/td>\n<\/tr>\n \n Income taxes<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n ( 208)<\/td>\n <\/td>\n ( 25)<\/td>\n<\/tr>\n \n Loss for the period<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac (6 701)<\/strong><\/td>\n <\/td>\n \u20ac (5 669)<\/strong><\/td>\n<\/tr>\n \n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n<\/tr>\n \n Loss attributable to equity holders<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac (6 701)<\/strong><\/td>\n <\/td>\n \u20ac (5 669)<\/strong><\/td>\n<\/tr>\n \n Other comprehensive loss<\/strong><\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Items that may be subsequently reclassified to profit or loss (net of tax)<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Currency translation differences<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n ( 102)<\/td>\n <\/td>\n ( 70)<\/td>\n<\/tr>\n \n Total comprehensive loss for the year, net of tax<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac (6 803)<\/strong><\/td>\n <\/td>\n \u20ac (5 739)<\/strong><\/td>\n<\/tr>\n \n Loss attributable to equity holders<\/strong><\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n \u20ac (6 803)<\/strong><\/td>\n <\/td>\n \u20ac (5 739)<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Basic Loss Per Share (in EUR)<\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac (0.260)<\/td>\n <\/td>\n \u20ac (0.256)<\/td>\n<\/tr>\n \n Diluted Loss Per Share (in EUR)<\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac (0.260)<\/td>\n <\/td>\n \u20ac (0.256)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n\n
\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n As at<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n March 31 2022<\/strong><\/td>\n \u00a0<\/strong><\/td>\n December 31 2021<\/strong><\/td>\n<\/tr>\n \n ASSETS<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Non-current assets<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n<\/tr>\n \n Property, plant and equipment<\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac 2 048<\/td>\n <\/td>\n \u20ac 2 020<\/td>\n<\/tr>\n \n Intangible assets<\/td>\n <\/td>\n <\/td>\n <\/td>\n 28 526<\/td>\n \u00a0<\/strong><\/td>\n 25 322<\/td>\n<\/tr>\n \n Right of use assets<\/td>\n <\/td>\n <\/td>\n <\/td>\n 3 154<\/td>\n <\/td>\n 3 218<\/td>\n<\/tr>\n \n Deferred tax asset<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n 529<\/td>\n \u00a0<\/strong><\/td>\n 46<\/td>\n<\/tr>\n \n Other long-term receivables<\/td>\n <\/td>\n <\/td>\n <\/td>\n 165<\/td>\n <\/td>\n 164<\/td>\n<\/tr>\n \n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n \u20ac 34 422<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac 30 770<\/strong><\/td>\n<\/tr>\n \n Current assets<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n<\/tr>\n \n Inventory<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n 301<\/td>\n \u00a0<\/strong><\/td>\n 346<\/td>\n<\/tr>\n \n Trade receivables<\/td>\n <\/td>\n <\/td>\n <\/td>\n 619<\/td>\n <\/td>\n 226<\/td>\n<\/tr>\n \n Other receivables<\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n 1 607<\/td>\n \u00a0<\/strong><\/td>\n 2 286<\/td>\n<\/tr>\n \n Other current assets<\/td>\n <\/td>\n <\/td>\n <\/td>\n 1 197<\/td>\n <\/td>\n 1 693<\/td>\n<\/tr>\n \n Financial assets<\/td>\n <\/td>\n <\/td>\n <\/td>\n 45 041<\/td>\n <\/td>\n \u2212<\/td>\n<\/tr>\n \n Cash and cash equivalents<\/td>\n <\/td>\n <\/td>\n <\/td>\n 82 787<\/td>\n <\/td>\n 135 509<\/td>\n<\/tr>\n \n \u00a0<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac 131 552<\/strong><\/td>\n <\/td>\n \u20ac 140 060<\/strong><\/td>\n<\/tr>\n \n Total assets<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n \u20ac 165 974<\/strong><\/td>\n <\/td>\n \u20ac 170 830<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n<\/tr>\n \n EQUITY AND LIABILITIES<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Capital and reserves<\/strong><\/td>\n <\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n <\/td>\n<\/tr>\n \n Capital<\/td>\n <\/td>\n <\/td>\n <\/td>\n 4 432<\/td>\n <\/td>\n 4 427<\/td>\n<\/tr>\n \n Share premium<\/td>\n <\/td>\n <\/td>\n <\/td>\n 228 158<\/td>\n \u00a0<\/strong><\/td>\n 228 033<\/td>\n<\/tr>\n \n Share based payment reserve<\/td>\n <\/td>\n <\/td>\n \u00a0<\/strong><\/td>\n