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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Theraclion | EU:ALTHE | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.006 | -1.25% | 0.475 | 0.46 | 0.475 | 0.475 | 0.452 | 0.472 | 1,751 | 09:25:46 |
Regulatory News:
THERACLION (ISIN: FR0010120402; Mnemo: ALTHE) (Paris:ALTHE), an innovative company developing a robotic platform for non-invasive ultrasound therapy, presents its half-year financial results for 2023 and provides an update on the execution of its strategy.
In the first half of 2023, Theraclion appointed its new Chief Executive Officer Martin Deterre, signed a strategic partnership agreement with Furui and secured the necessary financing for the next 18 months. Theraclion has reached important milestones in its 3-pronged strategy focused on the treatment of varicose veins:
Martin Deterre, Chief Executive Officer, commented: "Theraclion's efforts remain focused on its clearly defined strategy: the pivotal study for access to the US market, development in China and transformative advances in R&D, while controlling expenses. Progress made and to be made on this roadmap should contribute to a significant appreciation in valuation.”
Investment in technology and treatment protocols
In K€
30/06/2023
30/06/2022
Var. %
Turnover
981
347
+183%
Grants
0
7
-92%
Total operating income
981
354
+177%
Purchase of goods
(532)
(143)
+272%
External expenses
(1,115)
(1,746)
-36%
Staff costs
(1,957)
(1,735)
+13%
Other operating expenses
(557)
(173)
+222%
Total operating expenses
(4,161)
(3,797)
+10%
Operating profit
(3,179)
(3,443)
-8%
Financial result
(65)
(40)
+63%
Non-current income
263
350
-25%
Research tax credit
504
492
+2%
Net income
(2,476)
(2,561)
- 3%
Average headcount
30
28
+7%
Accounts approved by the Board of Directors on 4 October 2023.
Theraclion SA generated sales of €981K in the first half of 2023, an increase of 183% compared to the first half of 2022. Theraclion is voluntarily reducing its commercial efforts and focusing on perfecting SONOVEIN® HD treatment protocols. Theraclion expects to maintain a limited level of sales in Europe. Commercial development will be driven mainly by the US and Chinese markets, which guarantee a much faster return on investment.
In the first half of the year, Theraclion recorded the sale of a state-of-the-art device to the University of Virginia as part of a clinical trial on breast cancer research. Approved by the FDA, this pilot study aims to evaluate the combined effects of high-intensity focused ultrasound (HIFU) and conventional therapies on the immune response in patients suffering from early-stage breast cancer.
Sales of consumables rose by 65%, driven by the doubling of sales in the varicose vein indication. Theraclion has chosen to make SONOVEIN® available to reference centers in order to develop treatment protocols. These centers are able to use SONOVEIN® in their commercial practice, which generates revenue for Theraclion.
Operating expenses rose by 10% to €4,161k, mainly as a result of higher consumption of purchases to support the 183% growth in sales. Adjusted for purchases of goods and changes in inventories, operating expenses fell by 1% to €3,629k.
The financial result was a loss of (€65k) for the first half, mainly due to foreign exchange (€28k), losses on the liquidity contract (€24k) and interest on State-Guaranteed Loans.
Research tax credit amounted to €504k for the period, up 2% from €492k a year earlier, due to the increase in research expenditure.
The loss for the first half fell slightly by 3% to €2,476k.
In K€
30/06/2023
31/12/2022
Var. %
Treasury
9,078
2,489
+6,589
Medium-term cash position
31
31
0
Total cash and cash equivalents
9,109
2,520
+ 6,589
Bank loans
-2,242
-2,506
- 264
Convertible debt
0
0
0
Total debt
- 2,242
- 2,506
- 264
Net cash position
6,867
14
6,853
Theraclion has received cash advances from Oseo amounting to €6,290k, including capitalised interest. Repayment is based on milestones that are not expected to be reached within the next five years. Consequently, the advance is not recognised as a financial liability.
Theraclion had a cash position of €9.1m at 30 June 2023.
About Theraclion
Theraclion is a French MedTech company committed to developing a non-invasive alternative to surgery through the innovative use of focused ultrasound.
High-Intensity Focused Ultrasound (HIFU) does not require incisions or an operating room, leaves no scars, and allows patients an immediate return to their daily activities. Echotherapy, as the HIFU treatment method is called, concentrates therapeutic ultrasounds to an internal focal point from outside of the body.
Theraclion has developed two CE-marked robotic platforms delivering echotherapy: SONOVEIN® for varicose veins and ECHOPULSE® for breast fibroadenoma and thyroid nodules. Each has the potential to replace millions of surgical procedures every year.
Based in Malakoff (Paris), the Theraclion team is made up of 30 people, most of which are dedicated to technological and clinical development.
For more information, please visit www.theraclion.com or www.echotherapy.com and follow us on LinkedIn.
Theraclion is listed on Euronext Growth Paris Eligible for the PEA-PME scheme Mnemonic: ALTHE - ISIN code: FR0010120402 LEI: 9695007X7HA7A1GCYD29
View source version on businesswire.com: https://www.businesswire.com/news/home/20231011933183/en/
Theraclion contact Martin Deterre Chief Executive Officer contact@theraclion.com
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