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Nyxoah Reports Third Quarter Financial and Operating Results

AGÊNCIA DE COMUNICAÇÃO Conteúdo de responsabilidade da empresa 6 de novembro de 2024

Nyxoah

REGULATED INFORMATION

Nyxoah Reports Third Quarter Financial and Operating Results
FDA approval on track for first quarter 2025, U.S. commercial team build out in progress
Company fully funded with cash until mid 2026

Mont-Saint-Guibert, Belgium November 6, 2024, 10:05pm CET / 4:05pm ET Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (Nyxoah or the Company), a medical technology company that develops breakthrough treatment alternatives for Obstructive Sleep Apnea (OSA) through neuromodulation, today reported financial and operating results for the third quarter of 2024.

Recent Financial and Operating Highlights

Our actions in the third quarter have further positioned us well for a successful U.S. commercial launch. On the back of the robust DREAM data presented in September, we have raised additional capital and are actively focused on building up our U.S. commercial team, commented Olivier Taelman, Nyxoahs Chief Executive Officer. I am more confident than ever that we have set Genio up for a strong commercial start in the U.S. immediately after FDA approval.

Third Quarter 2024 Results

CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS (unaudited)
(in thousands)

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

2024

 

2023

 

2024

 

2023

Revenue 

1,266

 

976

 

3,258

 

2,524

Cost of goods sold 

(482)

 

(336)

 

(1,217)

 

(930)

Gross profit 

784

 

640

 

2,041

 

1,594

Research and Development Expense 

(7,902)

 

(6,568)

 

(22,573)

 

(19,330)

Selling, General and Administrative Expense 

(8,042)

 

(5 058)

 

(20,396)

 

(16,794)

Other income/(expense) 

180

 

 

430

 

265

Operating loss for the period 

(14,980)

 

(10,986)

 

(40,498)

 

(34,265)

Financial income 

1,138

 

2,178

 

4,615

 

3,592

Financial expense 

(3,043)

 

(1,033)

 

(5,480)

 

(2,765)

Loss for the period before taxes 

(16,885)

 

(9,841)

 

(41,363)

 

(33,438)

Income taxes 

(173)

 

2,229

 

(724)

 

1,119

Loss for the period 

(17,058)

 

(7,612)

 

(42,087)

 

(32,319)

 

 

 

 

 

 

 

 

Loss attributable to equity holders 

(17,058)

 

(7,612)

 

(42,087)

 

(32,319)

 

 

 

 

 

 

 

 

Other comprehensive income/(loss) 

 

 

 

 

 

 

 

Items that may not be subsequently reclassified to profit or loss (net of tax) 

 

 

 

 

 

 

 

Currency translation differences 

(209)

 

(10)

 

(221)

 

(88)

Total comprehensive loss for the year, net of tax 

(17,267)

 

(7,622)

 

(42,308)

 

(32,407)

Loss attributable to equity holders 

(17,267)

 

(7,622)

 

(42,308)

 

(32,407)

 

 

 

 

 

 

 

 

Basic loss per share (in EUR) 

(0.496)

 

(0.266)

 

(1.346)

 

(1.166)

Diluted loss per share (in EUR) 

(0.496)

 

(0.266)

 

(1.346)

 

(1.166)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (unaudited)

(in thousands)

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As at

 

 

 

September 30,
2024

 

December 31, 2023

ASSETS

 

 

 

 

 

Non-current assets

 

 

 

 

 

Property, plant and equipment

 

 

4,461

 

4,188

Intangible assets

 

 

49,558

 

46,608

Right of use assets

 

 

3,635

 

3,788

Deferred tax asset

 

 

53

 

56

Other long-term receivables

 

 

1,475

 

1,166

 

 

 

59,182

 

55,806

Current assets

 

 

 

 

 

Inventory

 

 

5,272

 

3,315

Trade receivables

 

 

2,504

 

2,758

Other receivables

 

 

2,992

 

3,212

Other current assets

 

 

1,837

 

1,318

Financial assets

 

 

42,299

 

36,138

Cash and cash equivalents

 

 

28,678

 

21,610

 

 

 

83,582

 

68,351

Total assets

 

 

142,764

 

124,157

 

 

 

 

 

 

EQUITY AND LIABILITIES

 

 

 

 

 

Capital and reserves

 

 

 

 

 

Capital

 

 

5,908

 

4,926

Share premium

 

 

290,906

 

246,127

Share based payment reserve

 

 

8,943

 

7,661

Other comprehensive income

 

 

(84)

 

137

Retained loss

 

 

(200,966)

 

(160,829)

Total equity attributable to shareholders

 

 

104,707

 

98,022

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

Non-current liabilities

 

 

 

 

 

Financial debt

 

 

19,143

 

8,373

Lease liability

 

 

2,636

 

3,116

Pension liability

 

 

47

 

9

Provisions

 

 

398

 

185

Deferred tax liability

 

 

12

 

9

 

 

 

22,236