IRRAS AB publishes Interim Report for the period January to September 2022
Third quarter, July – September 2022
- Net revenue amounted to SEK 11.0 million (6.1).
- Operating loss (EBIT) amounted to SEK -51.9 million (-27.0).
- Loss after tax amounted to SEK -50.1 million (-26.9).
- Earnings per share before and after dilution amounted to SEK -0.14 (-0.34).
Period, January – September 2022
- Net revenue amounted to SEK 29.4 million (15.2).
- Operating loss (EBIT) amounted to SEK -121.4 million (-93.0).
- Loss after tax amounted to SEK -120.3 million (-92.9).
- Earnings per share before and after dilution amounted to SEK -0.73 (-1.30).
Significant events during the quarter
Rights issue of MSEK 215 completed
- IRRAS announced and completed a fully subscribed rights issue that raised MSEK 215 before deduction of costs related to the transaction.
Short-term financing agreement expanded
- The extension of the bridge loan agreement that was initially signed during Q2 2022 provided an additional MSEK 10 to IRRAS. The entire MSEK 40 bridge loan was repaid with proceeds from the rights issue during Q3.
Enrollment begins in DIVE study as Mt. Sinai Health System in New York City treats its first patients
- The DIVE study is a single-center clinical trial to evaluate the safety and radiographic outcomes associated with IRRAflow compared to Mt. Sinai’s historic experience with external ventricular drains.
Significant events after the quarter
IRRAS participates in key neurosurgery conferences
- IRRAS exhibited at the Congress of Neurological Surgeons (CNS) annual meeting in San Francisco, the Neurocritical Care Society (NCS) annual meeting in San Antonio, and at the European Congress of Neurosurgery in Belgrade, Serbia.
New educational webinar series announced in collaboration with Jacobs Institute and the University of Buffalo Department of Neurosurgery
- IRRAS announced that Dr. Adnan Siddiqui and the leading neurosurgeons in Buffalo, NY, will host a series of webinars to discuss new treatments for intracranial hemorrhage, including the benefits of utilizing IRRAflow to more effectively clear collected blood from the brain. This webinar series will enable further peer-to-peer discussion among top neurosurgeons to discuss how IRRAflow has impacted their patients.
The report is available on the company’s website: https://investors.irras.com/en/reports-presentations.
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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 November 10, 2022, at 8:00 a.m. (CET).