{"id":107632,"date":"2024-03-06T05:43:08","date_gmt":"2024-03-06T05:43:08","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=120738"},"modified":"2024-03-06T05:43:08","modified_gmt":"2024-03-06T05:43:08","slug":"nyxoah-reports-fourth-quarter-and-financial-year-2023-financial-and-operating-results","status":"publish","type":"post","link":"https:\/\/jordannewsgazette.com\/nyxoah-reports-fourth-quarter-and-financial-year-2023-financial-and-operating-results\/","title":{"rendered":"Nyxoah Reports Fourth Quarter and Financial Year 2023 Financial and Operating Results"},"content":{"rendered":"
Nyxoah Reports Fourth Quarter and Financial Year 2023 Financial and Operating Results<\/strong> Mont-Saint-Guibert, Belgium \u2013 March 5, 2024 10:05pm CET \/ 4:05pm ET \u2013 Nyxoah SA (Euronext Brussels\/Nasdaq: NYXH)<\/strong> (\u201cNyxoah\u201d or the \u201cCompany\u201d), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the fourth quarter and financial year 2023.<\/p>\n Recent Financial and Operating Highlights<\/strong><\/p>\n 2024 Strategic Priorities<\/strong><\/p>\n \u201cIn 2023, we completed enrollment in our DREAM U.S. pivotal study, presented positive early DREAM efficacy and safety data, initiated enrollment in our ACCCESS U.S. pivotal study for complete concentric collapse and raised capital from both existing and new investors. These accomplishments strengthen our confidence for a transformational 2024.\u201d commented Olivier Taelman, Nyxoah Chief Executive Officer. \u201cWe are excited to report DREAM data in the coming weeks, finalize the regulatory FDA submission and pave the way for bringing Genio\u00ae to patients in the U.S.\u201d<\/p>\n Mr. Taelman continued, \u201cCommercially in Europe, this quarter\u2019s performance was the strongest in Nyxoah\u2019s history driven by a targeted direct-to-consumer (DTC) effort and I applaud our European commercial team for their execution. I look forward to a further increase in therapy penetration from our partnership with ResMed in Germany.\u201d<\/p>\n Fourth Quarter and Full Year 2023 Results<\/strong><\/p>\n UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION \u2013 CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS\u00a0FOR THE THREE MONTHS AND YEARS ENDED DECEMBER 31,\u00a02023\u00a0AND DECEMBER 31, 2022 (in thousands)<\/strong><\/p>\n \u00a0UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION \u2013 CONSOLIDATED STATEMENT OF FINANCIAL POSITION <\/strong>AS OF DECEMBER 31, 2023 AND DECEMBER 31, 2022 (in thousands)<\/strong><\/p>\n Revenue<\/em><\/p>\n Revenue was \u20ac1.8 million for the fourth quarter ending December 31, 2023, compared to \u20ac1.3 million for the fourth quarter ending December 31, 2022. Revenue for the full year of 2023 was \u20ac4.3 million, compared to \u20ac3.1 million for the full year of 2022. The increase in revenue was attributable to the Company\u2019s commercialization of the Genio\u00ae system, primarily in Germany.<\/p>\n
\nExpect to report DREAM U.S. pivotal study efficacy and safety data by early April<\/em>
\nAchieved record quarterly sales of \u20ac1.8 million<\/em><\/p>\n\n
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\n <\/td>\n For the three months ended December 31,\u00a0<\/strong><\/td>\n <\/td>\n For the year ended December 31,<\/strong><\/td>\n<\/tr>\n \n <\/td>\n 2023<\/strong><\/td>\n <\/td>\n 2022<\/strong><\/td>\n <\/td>\n 2023<\/strong><\/td>\n <\/td>\n 2022<\/strong><\/td>\n<\/tr>\n \n Revenue<\/td>\n \u20ac1,824<\/td>\n <\/td>\n \u20ac1,307<\/td>\n <\/td>\n \u20ac4,348<\/td>\n <\/td>\n \u20ac3,084<\/td>\n<\/tr>\n \n Cost of goods sold<\/td>\n (726)<\/td>\n <\/td>\n (465)<\/td>\n <\/td>\n (1,656)<\/td>\n <\/td>\n (1,150)<\/td>\n<\/tr>\n \n Gross profit<\/strong><\/td>\n \u20ac1,098 <\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac842 <\/strong><\/td>\n <\/td>\n \u20ac2,692 <\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac1,934 <\/strong><\/td>\n<\/tr>\n \n Research and Development Expense<\/td>\n (7,321)<\/td>\n <\/td>\n (4,575)<\/td>\n <\/td>\n (26,651)<\/td>\n <\/td>\n (15,861)<\/td>\n<\/tr>\n \n Selling, General and Administrative Expense<\/td>\n (4,893)<\/td>\n <\/td>\n (5,363)<\/td>\n <\/td>\n (21,687)<\/td>\n <\/td>\n (18,855)<\/td>\n<\/tr>\n \n Other income\/(expense)<\/td>\n 279<\/td>\n <\/td>\n 46<\/td>\n <\/td>\n 544<\/td>\n <\/td>\n 283<\/td>\n<\/tr>\n \n Operating loss for the period<\/strong><\/td>\n \u20ac(10,837)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac(9,050)<\/strong><\/td>\n <\/td>\n \u20ac(45,102)<\/strong><\/td>\n <\/td>\n \u20ac(32,499)<\/strong><\/td>\n<\/tr>\n \n Financial income<\/td>\n 582<\/td>\n <\/td>\n (4,609)<\/td>\n <\/td>\n 4,174<\/td>\n <\/td>\n 6,763<\/td>\n<\/tr>\n \n Financial expense<\/td>\n (964)<\/td>\n <\/td>\n 1,153<\/td>\n <\/td>\n (3,729)<\/td>\n <\/td>\n (4,320)<\/td>\n<\/tr>\n \n Loss for the period before taxes<\/strong><\/td>\n \u20ac(11,219)<\/strong><\/td>\n <\/td>\n \u20ac(12,506)<\/strong><\/td>\n <\/td>\n \u20ac(44,657)<\/strong><\/td>\n <\/td>\n \u20ac(30,056)<\/strong><\/td>\n<\/tr>\n \n Income taxes<\/td>\n 326<\/td>\n <\/td>\n (790)<\/td>\n <\/td>\n 1,445<\/td>\n <\/td>\n (1,169)<\/td>\n<\/tr>\n \n Loss for the period<\/strong><\/td>\n \u20ac(10,893)<\/strong><\/td>\n <\/td>\n \u20ac(13,296)<\/strong><\/td>\n <\/td>\n \u20ac(43,212)<\/strong><\/td>\n <\/td>\n \u20ac(31,225)<\/strong><\/td>\n<\/tr>\n \n <\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u00a0<\/strong><\/td>\n<\/tr>\n \n Loss attributable to equity holders<\/strong><\/td>\n \u20ac(10,893)<\/strong><\/td>\n <\/td>\n \u20ac(13,296)<\/strong><\/td>\n <\/td>\n \u20ac(43,212)<\/strong><\/td>\n <\/td>\n \u20ac(31,225)<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Other comprehensive income\/(loss)<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Items that may not be subsequently reclassified to profit or loss (net of tax)<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Remeasurements of post-employment benefit obligations, net of tax<\/td>\n 81<\/td>\n <\/td>\n 70<\/td>\n <\/td>\n 81<\/td>\n <\/td>\n 70<\/td>\n<\/tr>\n \n Items that may be subsequently reclassified to profit or loss (net of tax)<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Currency translation differences<\/td>\n (32)<\/td>\n <\/td>\n (82)<\/td>\n <\/td>\n (120)<\/td>\n <\/td>\n (96)<\/td>\n<\/tr>\n \n Total other comprehensive income\/(loss)<\/strong><\/td>\n \u20ac(39)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac(12)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac(39)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac(26)<\/strong><\/td>\n<\/tr>\n \n Total comprehensive loss for the year, net of tax<\/strong><\/td>\n \u20ac(10,844)<\/strong><\/td>\n <\/td>\n \u20ac(13,308)<\/strong><\/td>\n <\/td>\n \u20ac (43,251)<\/strong><\/td>\n <\/td>\n \u20ac (31,251)<\/strong><\/td>\n<\/tr>\n \n Loss attributable to equity holders<\/strong><\/td>\n \u20ac(10,844)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac(13,308)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac (43,251)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac (31,251)<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Basic loss per share (in EUR)<\/td>\n \u20ac(379)<\/td>\n <\/td>\n \u20ac(514)<\/td>\n <\/td>\n \u20ac(1,545)<\/td>\n <\/td>\n \u20ac(1,209)<\/td>\n<\/tr>\n \n Diluted loss per share (in EUR)<\/td>\n \u20ac(379)<\/td>\n <\/td>\n \u20ac(514)<\/td>\n <\/td>\n \u20ac(1,545)<\/td>\n <\/td>\n \u20ac(1,209)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n\n
\n <\/td>\n As at December 31<\/strong><\/td>\n<\/tr>\n \n <\/td>\n 2023<\/strong><\/td>\n <\/td>\n 2022<\/strong><\/td>\n<\/tr>\n \n ASSETS<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Non-current assets<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Property, plant and equipment<\/td>\n \u20ac4,188<\/td>\n <\/td>\n \u20ac2,460<\/td>\n<\/tr>\n \n Intangible assets<\/td>\n 46,608<\/td>\n <\/td>\n 39,972<\/td>\n<\/tr>\n \n Right of use assets<\/td>\n 3,788<\/td>\n <\/td>\n 3,159<\/td>\n<\/tr>\n \n Deferred tax asset<\/td>\n 56<\/td>\n <\/td>\n 47<\/td>\n<\/tr>\n \n Other long-term receivables<\/td>\n 1,166<\/td>\n <\/td>\n 173<\/td>\n<\/tr>\n \n <\/td>\n \u20ac55,806<\/strong><\/td>\n <\/td>\n \u20ac45,811<\/strong><\/td>\n<\/tr>\n \n Current assets<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Inventory<\/td>\n 3,315<\/td>\n <\/td>\n 882<\/td>\n<\/tr>\n \n Trade receivables<\/td>\n 2,758<\/td>\n <\/td>\n 1,463<\/td>\n<\/tr>\n \n Other receivables<\/td>\n 3,212<\/td>\n <\/td>\n 1,775<\/td>\n<\/tr>\n \n Other current assets<\/td>\n 1,318<\/td>\n <\/td>\n 1,284<\/td>\n<\/tr>\n \n Financial assets<\/td>\n 36,138<\/td>\n <\/td>\n 76,968<\/td>\n<\/tr>\n \n Cash and cash equivalents<\/td>\n 21,610<\/td>\n <\/td>\n 17,888<\/td>\n<\/tr>\n \n <\/td>\n \u20ac68,351<\/strong><\/td>\n <\/td>\n \u20ac100,260<\/strong><\/td>\n<\/tr>\n \n Total assets<\/strong><\/td>\n \u20ac124,157<\/strong><\/td>\n <\/td>\n \u20ac146,071<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n EQUITY AND LIABILITIES<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Capital and reserves<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Capital<\/td>\n 4,926<\/td>\n <\/td>\n 4,440<\/td>\n<\/tr>\n \n Share premium<\/td>\n 246,127<\/td>\n <\/td>\n 228,275<\/td>\n<\/tr>\n \n Share based payment reserve<\/td>\n 7,661<\/td>\n <\/td>\n 5,645<\/td>\n<\/tr>\n \n Other comprehensive income<\/td>\n 137<\/td>\n <\/td>\n 176<\/td>\n<\/tr>\n \n Retained loss<\/td>\n (160,829)<\/td>\n <\/td>\n (118,212)<\/td>\n<\/tr>\n \n Total equity attributable to shareholders<\/strong><\/td>\n \u20ac98,022<\/strong><\/td>\n <\/td>\n \u20ac120,324<\/strong><\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n LIABILITIES<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Non-current liabilities<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Financial debt<\/td>\n 8,373<\/td>\n <\/td>\n 8,189<\/td>\n<\/tr>\n \n Lease liability<\/td>\n 3,116<\/td>\n <\/td>\n 2,586<\/td>\n<\/tr>\n \n Pension liability<\/td>\n 9<\/td>\n <\/td>\n \u2212<\/td>\n<\/tr>\n \n Provisions<\/td>\n 185<\/td>\n <\/td>\n 59<\/td>\n<\/tr>\n \n Deferred tax liability<\/td>\n 9<\/td>\n <\/td>\n \u2212<\/td>\n<\/tr>\n \n <\/td>\n \u20ac11,692<\/strong><\/td>\n <\/td>\n \u20ac10,834<\/strong><\/td>\n<\/tr>\n \n Current liabilities<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Financial debt<\/td>\n 364<\/td>\n <\/td>\n 388<\/td>\n<\/tr>\n \n Lease liability<\/td>\n 851<\/td>\n <\/td>\n 719<\/td>\n<\/tr>\n \n Trade payables<\/td>\n 6,155<\/td>\n <\/td>\n 4,985<\/td>\n<\/tr>\n \n Current tax liability<\/td>\n 1,988<\/td>\n <\/td>\n 3,654<\/td>\n<\/tr>\n \n Other payables<\/td>\n 5,085<\/td>\n <\/td>\n 5,167<\/td>\n<\/tr>\n \n <\/td>\n \u20ac14,443<\/strong><\/td>\n <\/td>\n \u20ac14,913<\/strong><\/td>\n<\/tr>\n \n Total liabilities<\/strong><\/td>\n \u20ac26,135<\/strong><\/td>\n <\/td>\n \u20ac25,747<\/strong><\/td>\n<\/tr>\n \n Total equity and liabilities<\/strong><\/td>\n \u20ac124,157<\/strong><\/td>\n <\/td>\n \u20ac146,071<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n