Latest Admedus release - 4C quarterly report and Company update
JC
Julian Chick
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Thu 27/10/2016 11:50 PM
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 0 Admedus Sept qtr 4C 28 10 16.pdf428 KB
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Please find attached the latest Admedus Company announcement
Today Admedus released its quarterly 4C cash flow statement.
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-5
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