{"id":100195,"date":"2023-05-17T05:14:01","date_gmt":"2023-05-17T05:14:01","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=109972"},"modified":"2023-05-17T05:14:01","modified_gmt":"2023-05-17T05:14:01","slug":"nyxoah-reports-first-quarter-2023-financial-and-operating-results","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/nyxoah-reports-first-quarter-2023-financial-and-operating-results\/","title":{"rendered":"Nyxoah Reports First Quarter 2023 Financial and Operating Results"},"content":{"rendered":"<div>\n<p align=\"right\"><strong>REGULATED INFORMATION<\/strong><\/p>\n<p align=\"center\"><strong>Nyxoah Reports First Quarter 2023 Financial and Operating Results<\/strong><\/p>\n<p align=\"justify\"><strong>Mont-Saint-Guibert, Belgium \u2013 May 16, 2023 10:05pm CET \/ 4:05pm ET \u2013 Nyxoah SA (Euronext Brussels\/Nasdaq: NYXH)<\/strong>\u00a0(\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 first quarter of 2023.<\/p>\n<p align=\"justify\"><strong>Recent Financial and Operating Highlights<\/strong><\/p>\n<ul>\n<li>\u00a0Completed all 115 implants in the DREAM U.S. pivotal trial, with 12-month data expected in the first quarter of 2024.<\/li>\n<li>\u00a0Initiated the modular PMA submission with the filing of the first module.<\/li>\n<li>\u00a0Submitted 12-month data<sup>1<\/sup>\u00a0on the first 34 DREAM patients as a late-breaking abstract to SLEEP 2023 demonstrating a 65% AHI responder rate, a 76% ODI responder rate and safety in-line with expectations. The abstract will be presented in a late-breaking poster session on June 6th. These data are preliminary and not conclusive of final DREAM success.<\/li>\n<li>\u00a0Implanted the first patients in the ACCCESS U.S. IDE pivotal study to treat complete concentric collapse (CCC). Implant completion expected in 2024.<\/li>\n<li>\u00a0Hired Christoph Eigenmann as Chief Commercial Officer.<\/li>\n<li>\u00a0Raised\u00a0\u20ac19 million from new and historical shareholders including ResMed, Cochlear and Robert Taub, Nyxoah\u2019s Chairman and Founder.<\/li>\n<li>\u00a0Ended the quarter with 40 active German accounts and quarterly sales of \u20ac441 thousand.<\/li>\n<li>\u00a0Expanded European market access with first implants in Austria.<\/li>\n<li>\u00a0Strengthened the supply chain with the Belgium manufacturing facility receiving clearance from the EU notified body.<\/li>\n<\/ul>\n<p align=\"justify\">\u201cIn 2023, our focus is in the U.S. on DREAM patient follow up resulting in reaching the primary endpoints. I am excited by the data on the first 34 patients and look forward to sharing the full abstract results at SLEEP 2023 next month. Our increasing conviction in DREAM outcomes is accelerating investment in our commercial organization, starting with the addition of Christoph as Chief Commercial Officer,\u201d commented Olivier Taelman, Nyxoah\u2019s Chief Executive Officer. \u201cChristoph\u2019s hire, along with the\u00a0\u20ac19 million raised from key investors, puts us in a strong position as we embark on our next stage of growth.\u201d<\/p>\n<p align=\"center\"><strong>First Quarter 2023 Results<\/strong><\/p>\n<p align=\"center\"><strong>UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION \u2013 CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS\u00a0FOR THE THREE MONTHS ENDED MARCH 31, 2023<\/strong>\u00a0<strong>\u00a0(in thousands)<\/strong><\/p>\n<table align=\"start\">\n<tbody>\n<tr>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"4\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"3\"><strong>For the three months ended March 31<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><strong>2023<\/strong><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>2022<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Revenue<\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\">\u20ac441<\/td>\n<td><\/td>\n<td colspan=\"2\">\u20ac660<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Cost of goods sold<\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\">(175)<\/td>\n<td><\/td>\n<td colspan=\"2\">(289)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Gross profit<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u20ac266<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac371<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Research and Development Expense<\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\">(6,157)<\/td>\n<td><\/td>\n<td colspan=\"2\">(3,595)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Selling, General and Administrative Expense<\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\">(5,551)<\/td>\n<td><\/td>\n<td colspan=\"2\">(4,193)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Other income\/(expense)<\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\">46<\/td>\n<td><\/td>\n<td colspan=\"2\">136<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Operating loss for the period<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u20ac(11,396)<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac(7,281)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Financial income<\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\">625<\/td>\n<td><\/td>\n<td colspan=\"2\">1,576<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Financial expense<\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\">(958)<\/td>\n<td><\/td>\n<td colspan=\"2\">(788)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Loss for the period before taxes<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u20ac(11,729)<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac(6,493)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Income taxes<\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\">(182)<\/td>\n<td><\/td>\n<td colspan=\"2\">(208)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Loss for the period<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u20ac(11,911)<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac(6,701)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Loss attributable to equity holders<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u20ac(11,911)<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac(6,701)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Other comprehensive loss<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Items that may be subsequently reclassified to profit or<br \/>\nloss (net of tax)<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Currency translation differences<\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\">(28)<\/td>\n<td><\/td>\n<td colspan=\"2\">( 102)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Total comprehensive loss for the year, net of tax<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u20ac(11,939)<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac(6,803)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Loss attributable to equity holders<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"4\"><strong>\u20ac(11,939)<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac(6,803)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Basic Loss Per Share (in EUR)<\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\">\u20ac(0.460)<\/td>\n<td><\/td>\n<td colspan=\"2\">\u20ac(0.260)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Diluted Loss Per Share (in EUR)<\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"4\">\u20ac(0.460)<\/td>\n<td><\/td>\n<td colspan=\"2\">\u20ac(0.260)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"center\"><strong>\u00a0UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION \u2013 CONSOLIDATED STATEMENT\u00a0OF FINANCIAL POSITION\u00a0AS OF MARCH 31, 2023 (in thousands)<\/strong><\/p>\n<table align=\"start\">\n<tbody>\n<tr>\n<td colspan=\"10\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"4\"><strong>As at<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>March 31<br \/>\n2023<\/strong><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>December 31 2022<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>ASSETS<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Non-current assets<\/strong><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Property, plant and equipment<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>\u20ac2,721<\/td>\n<td><\/td>\n<td colspan=\"2\">\u20ac2,460<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Intangible assets<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>42,447<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">39,972<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Right of use assets<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>3,669<\/td>\n<td><\/td>\n<td colspan=\"2\">3,159<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Deferred tax asset<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>50<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">47<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Other long-term receivables<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>169<\/td>\n<td><\/td>\n<td colspan=\"2\">173<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><strong>\u20ac49,056<\/strong><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u20ac45,811<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Current assets<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Inventory<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>1,249<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">882<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Trade receivables<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>1,499<\/td>\n<td><\/td>\n<td colspan=\"2\">1,463<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Other receivables<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>1,419<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">1,775<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Other current assets<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>1,663<\/td>\n<td><\/td>\n<td colspan=\"2\">1,284<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Financial assets<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>62,403<\/td>\n<td><\/td>\n<td colspan=\"2\">76,968<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Cash and cash equivalents<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>33,664<\/td>\n<td><\/td>\n<td colspan=\"2\">17,888<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u20ac101,897<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac100,260<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Total assets<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u20ac150,953<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac146,071<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>EQUITY AND LIABILITIES<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Capital and reserves<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Capital<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>4,859<\/td>\n<td><\/td>\n<td colspan=\"2\">4,440<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Share premium<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>243,488<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">228,275<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Share based payment reserve<\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>6,582<\/td>\n<td><\/td>\n<td colspan=\"2\">5,645<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Other comprehensive income<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>148<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">176<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Retained loss<\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>(130,051)<\/td>\n<td><\/td>\n<td colspan=\"2\">(118,212)<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Total equity attributable to shareholders<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u20ac125,026<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac120,324<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>LIABILITIES<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Non-current liabilities<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Financial debt<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>8,381<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">8,189<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Lease liability<\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>3,112<\/td>\n<td><\/td>\n<td colspan=\"2\">2,586<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Pension liability<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>25<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">\u2212<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Provisions<\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>74<\/td>\n<td><\/td>\n<td colspan=\"2\">59<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Deferred tax liability<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>\u2212<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">\u2212<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u20ac11,592<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac10,834<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Current liabilities<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Financial debt<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>390<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">388<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Lease liability<\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u00a0<\/strong><\/td>\n<td>711<\/td>\n<td><\/td>\n<td colspan=\"2\">719<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Trade payables<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>5,012<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">4,985<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Current tax liability<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>3,619<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">3,654<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Other payables<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td>4,603<\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\">5,167<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>\u00a0<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u20ac14,335<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac14,913<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Total liabilities<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u20ac25,927<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac25,747<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Total equity and liabilities<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>\u20ac150,953<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>\u20ac146,071<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\"><em>Revenue<\/em><\/p>\n<p align=\"justify\">Revenue was \u20ac441,000 for the first quarter ending March 31, 2023, compared to \u20ac660,000 for first quarter ending March 31, 2022.<\/p>\n<p align=\"justify\"><em>Cost of Goods Sold<\/em><\/p>\n<p align=\"justify\">Cost of goods sold was \u20ac175,000 for the three months ending March 31, 2023, representing a gross profit of \u20ac266,000, or gross margin of 60.3%. This compares to total cost of goods sold of \u20ac289,000 in the first quarter ending March 31, 2022, for a gross profit of \u20ac371,000, or gross margin of 56.2%.<\/p>\n<p align=\"justify\"><em>Research and Development Expenses<\/em><\/p>\n<p align=\"justify\">Research and development expenses were \u20ac6.2 million for the three months ending March 31, 2023, versus \u20ac3.6 million for the prior year period, driven by an acceleration in clinical activities, notable the start of the ACCCESS study.<\/p>\n<p align=\"justify\"><em>Selling, General and Administrative Expenses<\/em><\/p>\n<p align=\"justify\">Selling, general and administrative expenses rose to \u20ac5.6 million for the first quarter of 2023, up from \u20ac4.2 million in the first quarter of 2022. This was due primarily to increased commercial efforts in Germany and other European markets, as well as investments in Nyxoah\u2019s corporate infrastructure. The Company expects to continue adding headcount across the organization ahead of the U.S. commercial launch.<\/p>\n<p align=\"justify\"><em>Operating Loss<\/em><\/p>\n<p align=\"justify\">Total operating loss for the first quarter 2023 was \u20ac11.4 million versus \u20ac7.3 million in the first quarter of 2022. This was driven by the acceleration in the Company\u2019s R&amp;D spending, as well as ongoing commercial and clinical activities.<\/p>\n<p align=\"justify\"><strong>Cash Position<\/strong><br \/>\nAs of March 31, 2023, cash and financial assets totaled \u20ac96.1 million, compared to \u20ac94.9 million on December 31, 2022.\u00a0\u00a0Total cash burn was approximately \u20ac4.9 million per month during the first quarter of 2023.<\/p>\n<p align=\"justify\"><strong>First Quarter 2023 Report<\/strong><br \/>\nNyxoah\u2019s financial report for the first quarter of 2023, including details of the consolidated results, are available on the investor page of Nyxoah\u2019s website (<a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.globenewswire.com\/Tracker?data%3DLGSZQJXON9E7ra_RwZfmikb0x8jl4kAVYV5d6BZMAR-11j5PIqSviASKseQWSg1NpnWK60dhp4piT1ELfaLxEjI9kjRXDT7JcTjIuf_gonqXavNUrWS8ugfq9rn65V2JM9_iNP8ZUiGUnsZjR2CKVw%3D%3D&amp;source=gmail-html&amp;ust=1684386708837000&amp;usg=AOvVaw3HWAbcUSGTsp88zvfHXIAH\"  rel=\"nofollow noopener noreferrer\"><u>https:\/\/investors.nyxoah.com\/<wbr \/>financials<\/u><\/a>).<\/p>\n<p align=\"justify\"><strong>Conference call and webcast presentation\u00a0<\/strong><br \/>\nNyxoah will conduct a conference call open to the public today at 10:30pm CET \/ 4:30pm ET, which will also be webcast. To participate in the conference call, please access the following link to register for a dial-in number:\u00a0<a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.globenewswire.com\/Tracker?data%3DLGSZQJXON9E7ra_RwZfmintJQivcgvryFQY2DrFCyJaRhT9h46o9Dx0bnP66WvZ7R0cKRH_FYUU3t6JCUYG2kZQnrhlXBY19ueTmbgRXtM1zE83VOpM_9qdP8KmxBPRCH2xjm3UV8W_N88RqdjirbEK5PPKsDvk4Qnnw1ORtLro%3D&amp;source=gmail-html&amp;ust=1684386708837000&amp;usg=AOvVaw0D7uGdGjFyZ765yqTkcNDt\"  rel=\"nofollow noopener noreferrer\"><u>https:\/\/edge.media-<wbr \/>server.com\/mmc\/p\/imeku8f7<\/u><\/a><\/p>\n<p align=\"justify\">A question-and-answer session will follow the presentation of the results. To access the live webcast, go to\u00a0<a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.globenewswire.com\/Tracker?data%3DLGSZQJXON9E7ra_RwZfmikb0x8jl4kAVYV5d6BZMAR_QJpB-SuqRVoFfW_6HoXmtlryKpkd0XT6APzk9-7Bq7Dwz_E0mDhcqwwSm8iI0OHAgWJcPXX309bdymkGwkHIN&amp;source=gmail-html&amp;ust=1684386708837000&amp;usg=AOvVaw104vLa5Me-v2-0ssAN2nSt\"  rel=\"nofollow noopener noreferrer\"><u>https:\/\/investors.nyxoah.<wbr \/>com\/events<\/u><\/a>. The archived webcast will be available for replay shortly after the close of the call.<\/p>\n<p align=\"justify\"><strong>About Nyxoah<\/strong><br \/>\nNyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA).\u00a0Nyxoah\u2019s lead solution is the Genio\u00ae system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world\u2019s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.<\/p>\n<p align=\"justify\">Following the successful completion of the BLAST OSA study, the Genio\u00ae system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors\u2019 therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and US commercialization approval.<\/p>\n<p align=\"justify\">For more information, please visit\u00a0<a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.globenewswire.com\/Tracker?data%3DLGSZQJXON9E7ra_RwZfmil43Idw-YUSpqLkprzeUGALg0WcV-SOKAfFJYeGajXNm0ZQNGiiqopUi4136v997-nHfkQHYf4QvMRgXRmr3l6U%3D&amp;source=gmail-html&amp;ust=1684386708837000&amp;usg=AOvVaw3T3LY7pMFJteH3-eMj4lfo\"  rel=\"nofollow noopener noreferrer\"><u>http:\/\/www.nyxoah.com\/<\/u><\/a>.<\/p>\n<p align=\"justify\"><strong>Caution\u00a0<\/strong>\u2013 CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.<\/p>\n<p align=\"justify\"><strong>Forward-looking statements\u00a0<\/strong><br \/>\nCertain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company&#8217;s or, as appropriate, the Company directors&#8217; or managements&#8217; current expectations regarding the Genio\u00ae system; planned and ongoing clinical studies of the Genio\u00ae system; the potential advantages of the Genio\u00ae system; Nyxoah\u2019s goals with respect to the development, regulatory pathway and potential use of the Genio\u00ae system; the utility of clinical data in potentially obtaining FDA approval of the Genio\u00ae system; and the Company&#8217;s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the \u201cRisk Factors\u201d section of the Company\u2019s Annual Report on Form 20-F for the year ended December 31, 2021, filed with the Securities and Exchange Commission (\u201cSEC\u201d) on March 24, 2022, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person&#8217;s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.<\/p>\n<p align=\"justify\"><strong>Contacts:<\/strong><br \/>\n<strong>Nyxoah<\/strong><br \/>\nDavid DeMartino, Chief Strategy Officer<br \/>\n<a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.globenewswire.com\/Tracker?data%3D0F67j3qpMwZG5X_sxL_R0LaE9LXdNWQBRpSV-WL5ACbYvUCNIMvwKcVK00yQXX-CGOD4k8Bz_K-YcyNFiQRYynMXM7ANyUPuQ9OdQiZ_DkN7p86zJcIVqswMAIjjhRrC&amp;source=gmail-html&amp;ust=1684386708837000&amp;usg=AOvVaw3NrtHL9wkdDbmhl65NEFaE\"  rel=\"nofollow noopener noreferrer\"><u>david.demartino@nyxoah.com<\/u><\/a><br \/>\n+1 310 310 1313<\/p>\n<hr \/>\n<p align=\"justify\"><sup>1<\/sup>\u00a0For the trial to be successful, of the 115 patients, at least 63% of patients need to be AHI and ODI responders at the 12-month follow-up.<\/p>\n<p id=\"m_gnw_attachments_section-header\"><strong>Attachment<\/strong><\/p>\n<ul id=\"m_gnw_attachments_section-items\">\n<li><a href=\"https:\/\/www.google.com\/url?q=https:\/\/ml-eu.globenewswire.com\/Resource\/Download\/58d98a54-d994-4806-91d6-cd69bc9056a9&amp;source=gmail-html&amp;ust=1684386708837000&amp;usg=AOvVaw3LSE4zdnzgEs6aCdPrFJDp\"  rel=\"noopener noreferrer\">ENGLISH_Q1 2023 Earnings PR_FINAL<\/a><img decoding=\"async\" src=\"https:\/\/ci6.googleusercontent.com\/proxy\/QXU3ZJRYc1ixbjgIDlLG0TpHJIojmcZrs9YDmWpYFbZHSVAilN-AZL6oDUmRgiekrxEEZx4C5yeJw6PmIdyy57UGIVnPivxxFNUZEme7A3ro8xkoVlYQiTAfiAvx2ftVXBfczyg50EcoU6aeZDf03sTASvxhb3z28fxH30QR3y4cgaKLEQ=s0-d-e1-ft#https:\/\/ml-eu.globenewswire.com\/media\/NzBmMGUzOTMtNWU2Mi00MmY1LWFlODgtNjM2MjRkNTMxNWVjLTEyMDkxODA=\/tiny\/Nyxoah.png\" \/><\/li>\n<\/ul>\n<p align=\"center\">GlobeNewswire Distribution ID 1000810492<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>REGULATED INFORMATION Nyxoah Reports First Quarter 2023 Financial and Operating Results Mont-Saint-Guibert, Belgium \u2013 May 16, 2023 10:05pm CET \/ 4:05pm ET \u2013 Nyxoah SA (Euronext Brussels\/Nasdaq: NYXH)\u00a0(\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 [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[182,2584,17,53,343],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nyxoah Reports First Quarter 2023 Financial and Operating Results - Lebanon News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lebanonnewsgazette.com\/nyxoah-reports-first-quarter-2023-financial-and-operating-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nyxoah Reports First Quarter 2023 Financial and Operating Results - Lebanon News Gazette\" \/>\n<meta property=\"og:description\" content=\"REGULATED INFORMATION Nyxoah Reports First Quarter 2023 Financial and Operating Results Mont-Saint-Guibert, Belgium \u2013 May 16, 2023 10:05pm CET \/ 4:05pm ET \u2013 Nyxoah SA (Euronext Brussels\/Nasdaq: NYXH)\u00a0(\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 [\u2026]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lebanonnewsgazette.com\/nyxoah-reports-first-quarter-2023-financial-and-operating-results\/\" 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