, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care,
In order to achieve these updated financial targets, IRRAS management will continue to evaluate the company’s commercial strategy and cost position.
Currently, IRRAS employs direct sales representatives in the United States, Germany, and the Nordic region and utilizes a network of distribution partners in other markets. However, moving forward, the company is discussing a commercial partnership agreement with established medical device companies that currently have a larger direct neurosurgery and neurocritical care sales forces in place. Since the beginning of the COVID-19 pandemic, the size of IRRAS’ global sales force has remained consistent, and such a commercial partnership could expand market awareness of the company’s products while also reducing the required expense to grow its direct sales team. The financial targets listed above reflect IRRAS’ projections with its current commercial strategy. Should this current strategy shift to include a commercial partnership, these financial targets will then be adjusted to reflect the impact of the strategy changes.
In addition to exploring possible commercial partnerships, IRRAS management will also continue its efforts to stabilize operating costs, reduce cash burn, and accelerate the path to profitability. Efforts continue to streamline certain functions within the organization, decrease the company’s real estate footprint, and assess future headcount requirements.
IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.
IRRAS is listed on Nasdaq Stockholm (ticker: IRRAS).
Director, Investor Relations
+46 102 11 5172
This document is considered information that IRRAS is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on July 4, 2022, at 17:35 (CET).