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Analytica Quarterly Cash Flow

  • Published October 30, 2015 4:51PM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

Appendix 4C – Quaterly Cash Flow Report

nalytica Ltd (ASX: ALT) manufacturer of the PeriCoach® System, today released its Appendix 4C – Quarterly Cashflow report for the period ended 30 September 2015. The cash balance at 30 September 2015 was $1,533k. PeriCoach® is a novel medical device to treat stress urinary incontinence – a condition with significant unmet medical need, affecting one in three women worldwide.

HIGHLIGHTS: 

  • Successful capital raising of $2.9m
  • Lodged 2015 R&D tax credit and expect receipt of $1.9m in November
  • Continued sales growth $84k
  • Continued progress with R&D for PeriCoach® $402k
  • Marketing and Sales launch in US including conference and social media US & Aust. $614k
  • Agreement with SalesForce4Hire to grow sales of PeriCoach® in the US
  • US distribution agreement signed
  • Increased sites and participants in the on-going clinical trial
  • Appointment of Dr Thomas Lönngren as Non-Executive Director

During the quarter, Analytica made progress in its sales and marketing activities for its lead product, the PeriCoach® System, and the cash balance of $1,533k supports these activities as well as continued R&D efforts for further enhancements of PeriCoach®.

In August, the Company conducted a successful capital raising of $2.9m, with the proceeds being used to support Analytica’s key commercialisation goals for PeriCoach®.

The Company achieved key milestones with US sales and marking efforts in the quarter with the signing of a services agreement with SalesForce4Hire. SalesForce4Hire is a leading US commercialisation company and the agreement will help drive sales of PeriCoach® in the US market. The sales team commenced on October 1 and will focus on three US regions.

Analytica has a distribution agreement with US-based Current Technology Inc, a specialist distribution partner. Current Technology wholesale purchase PeriCoach® units and engage in marketing and sales activities across its extensive network, enhancing Analytica’s own US-based distribution efforts.

In addition, the “Leakers Anonymous” video was launched as part of Analytica’s US social media strategy and the campaign placed the video in front of 5.5 million blog subscribers, 250,000 Facebook followers and 170,000 Twitter followers.

PeriCoach® has continued to exhibit at major US and international urology and gynecology conferences and the response from specialists has been very supportive.

In Australia, sales continue to increase as we continue our direct-to-consumer and top-down marketing approach of building awareness of the PeriCoach® System as an effective medical device with general practitioners and health professionals.

Meanwhile, in our clinical trial being conducted in Australia, more trial sites were opened and the number of participants increased during the quarter.

Research and development of the pipeline of features for the PeriCoach® also continues to progress well.

During the quarter, Analytica lodged the 2015 R&D tax credit and expects a $1.9mn receipt in November.

In August, Dr Thomas Lönngren was appointed as a Non-Executive Director. Dr Lönngren brings significant regulatory and strategic advisory experience and network in the pharmaceutical and medical device industries.

“This quarter has been another period of substantial progress for Analytica as we continue to focus on our commericialisation goals for PeriCoach® of building the best-in-class product, market acceptance and developing partnership opportunities with multinational medical device companies,” said Analytica Chief Executive Officer, Geoff Daly.

“Our agreements with SalesForce4Hire and Current Technology will help us drive sales in the US – a key market for Analytica while sales in Australia and post approval clinical trial also continue to progress well. “

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