The highlights include:
- Code Red initiatives implemented and on track
- Financials on track and in-line with previous guidance
- Manufacturing pass rate consistently at 75%
- New Marketing campaign and field force strategy in place to optimize market presence and competitive positioning.
- New company values defined and implemented (AORTIC) Accountability, Objectivity, Responsibility, Transparency, Integrity, Courage
- Revenue up 50% from last quarter to $6M, up 100% from corresponding quarter
- Net loss down 36% from previous quarter to $3.5M, including one-off payments
- Forecast approximately 25% further net loss reductions for the next quarter and anticipated additional cost reductions in subsequent quarters
- Launch of VascuCel on target for November 1st 2016
- Cash balance of $19.5M
Ann: Appendix 4C - quarterly-AHZ.AX, page-4
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