Q3 2024 Edap Tms SA Earnings Call Transcript
Key Points
- Edap TMS SA (EDAP) reported a 34% year-over-year growth in US focal one HIFU procedures, indicating strong adoption by urologists.
- The HIFI study results suggest that EDAP's HIFU technology is as effective as radical prostatectomy, with better functional outcomes.
- CMS finalized a 5.4% increase in Medicare hospital payment rates for HIFU procedures, supporting favorable reimbursement.
- The company announced a collaboration with VDA Health to launch AI-assisted focal one robotic HIFU procedures, enhancing treatment precision.
- Edap TMS SA (EDAP) achieved a record third-quarter revenue of EUR13.1 million, marking an 11.6% increase from the previous year.
- The litho business revenue decreased to EUR2 million from EUR2.7 million in the same period last year, due to fewer lithotripsy unit sales.
- Operating expenses increased to EUR11 million, primarily due to investments in focal one commercial operations.
- The company reported a net loss of EUR6.4 million for the third quarter, compared to a EUR3.9 million loss in the previous year.
- Cash and cash equivalents decreased significantly to EUR25.5 million from EUR43.5 million at the end of 2023.
- The primary endpoint of superior reduction in acute pelvic pain in the HIFU arm of the endometriosis study was not reached.
Future sales as we are currently in discussions with multiple hospitals within the HCA group, we also continue to experience strong growth in US focal one HIFU procedures during the quarter US procedures grew 34% on a year over year basis, which reflects continued adoption by urologists who see focal one as an important treatment option for delivering targeted focal therapy in earlier stage prostate cancer patients.
As mentioned during our last call, we believe that as the results from the groundbreaking HIFI study become more widely disseminated demand for the focal one platform will continue to grow.
The Hi fi study presents clear and compelling evidence that robotic HIFU therapy delivered by EDAP's proprietary technology is as effective as radical prostatectomy as a frontline treatment for the management of localized prostate cancer. While additionally offering patients better functional outcomes with respect to preservation of urinary continence and sexual function.
As a reminder, EDAP technology was used exclusively to
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