{"id":97265,"date":"2023-03-23T05:15:57","date_gmt":"2023-03-23T05:15:57","guid":{"rendered":"http:\/\/lebanonnewsgazette.com\/?guid=4c375031d4ec09450cb188ba76d6899c"},"modified":"2023-03-23T05:15:57","modified_gmt":"2023-03-23T05:15:57","slug":"nyxoah-reports-fourth-quarter-and-full-year-2022-financial-and-operating-results","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/nyxoah-reports-fourth-quarter-and-full-year-2022-financial-and-operating-results\/","title":{"rendered":"Nyxoah Reports Fourth Quarter and Full Year 2022 Financial and Operating Results"},"content":{"rendered":"
REGULATED INFORMATION<\/strong><\/p>\n Nyxoah <\/strong>Reports<\/strong> Fourth<\/strong> Q<\/strong>uarter<\/strong> and <\/strong>Full Year<\/strong> 202<\/strong>2<\/strong> Financial<\/strong> and Operating<\/strong> Results<\/strong> Mont-Saint-Guibert, Belgium \u2013<\/strong> March 22, <\/strong>2023<\/strong> 09<\/strong>:<\/strong>05<\/strong>pm <\/strong>CET \/ <\/strong>4<\/strong>:<\/strong>05<\/strong>pm <\/strong>ET<\/strong> \u2013 Nyxoah <\/strong>SA (<\/strong>Euronext Brussels\/Nasdaq<\/strong>: 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 full year 2022.<\/p>\n Recent <\/strong>Financial and Operating Highlights<\/strong><\/p>\n 202<\/strong>3<\/strong> Key Objectives<\/strong><\/p>\n \u201cWith all 115 implants completed in the DREAM study and our first PMA module submitted, we achieved key milestones towards U.S. FDA approval. Our attention now focuses on patient follow up. With the clearance of our second manufacturing site, we have strengthened our supply chain to meet increasing demand,\u201d commented Olivier Taelman, Nyxoah Chief Executive Officer.<\/p>\n Mr. Taelman continued, \u201cCommercially in Europe, we are excited to see the continued demand growth for Genio in Germany. Our growing experience with CCC patients in Europe, driven by our expanded label, reinforces our confidence in our ongoing U.S. ACCCESS study.\u201d<\/p>\n \nFourth<\/strong> Quarter and <\/strong>Full Year<\/strong> 2022<\/strong> Results<\/strong><\/p>\n UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION \u2013<\/strong> CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS\u00a0FOR THE THREE MONTHS AND <\/strong>YEARS<\/strong> ENDED <\/strong>DECEMBER 31<\/strong>,\u00a0<\/strong>2022<\/strong>\u00a0<\/strong>AND DECEMBER 31, 2021 <\/strong>(in thousands)<\/strong><\/p>\n
\nCompleted all 115<\/em> implants in the <\/em>DREAM <\/em>U.S<\/em>.<\/em> pivotal <\/em>study<\/em><\/p>\n\n
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\n <\/td>\n For the three months ended December 31<\/strong>,<\/strong>\u00a0<\/strong><\/td>\n <\/td>\n For the year ended December 31<\/strong>,<\/strong><\/td>\n <\/td>\n<\/tr>\n \n <\/td>\n 2022<\/strong><\/td>\n <\/td>\n 2021<\/strong><\/td>\n <\/td>\n 2022<\/strong><\/td>\n <\/td>\n 2021<\/strong><\/td>\n <\/td>\n<\/tr>\n \n Revenue<\/td>\n \u20ac1,307<\/td>\n <\/td>\n \u20ac295<\/td>\n <\/td>\n \u20ac3,084<\/td>\n <\/td>\n \u20ac852<\/td>\n <\/td>\n<\/tr>\n \n Cost of goods sold<\/td>\n (465)<\/td>\n <\/td>\n (105)<\/td>\n <\/td>\n (1,150)<\/td>\n <\/td>\n (303)<\/td>\n <\/td>\n<\/tr>\n \n Gross profit<\/strong><\/td>\n \u20ac<\/strong>842 <\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac<\/strong>190 <\/strong><\/td>\n <\/td>\n \u20ac<\/strong>1,934 <\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac<\/strong>549 <\/strong><\/td>\n <\/td>\n<\/tr>\n \n Research and Development Expense<\/td>\n (4,575)<\/td>\n <\/td>\n (3,335)<\/td>\n <\/td>\n (15,861)<\/td>\n <\/td>\n (12,344)<\/td>\n <\/td>\n<\/tr>\n \n Selling, General and Administrative Expense<\/td>\n (5,363)<\/td>\n <\/td>\n (3,937)<\/td>\n <\/td>\n (18,855)<\/td>\n <\/td>\n (14,712)<\/td>\n <\/td>\n<\/tr>\n \n Other income\/(expense)<\/td>\n 46<\/td>\n <\/td>\n 539<\/td>\n <\/td>\n 283<\/td>\n <\/td>\n 265<\/td>\n <\/td>\n<\/tr>\n \n Operating loss for the period<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>9,050)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>6,543)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>32,499)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>26,242)<\/strong><\/td>\n <\/td>\n<\/tr>\n \n Financial income<\/td>\n (4,609)<\/td>\n <\/td>\n 3,603<\/td>\n <\/td>\n 6,763<\/td>\n <\/td>\n 3,675<\/td>\n <\/td>\n<\/tr>\n \n Financial expense<\/td>\n 1,153<\/td>\n <\/td>\n (588)<\/td>\n <\/td>\n (4,320)<\/td>\n <\/td>\n (2,072)<\/td>\n <\/td>\n<\/tr>\n \n Loss for the period before taxes<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>12,506)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>3,528)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>30,056)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>24,639)<\/strong><\/td>\n <\/td>\n<\/tr>\n \n Income taxes<\/td>\n (790)<\/td>\n <\/td>\n (2,720)<\/td>\n <\/td>\n (1,169)<\/td>\n <\/td>\n (2,980)<\/td>\n <\/td>\n<\/tr>\n \n Loss for the period<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>13,296)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>6,248)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>31,225)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>27,619)<\/strong><\/td>\n <\/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 <\/td>\n<\/tr>\n \n Loss attributable to equity holders<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>13,296)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>6,248)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>31,225)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>27,619)<\/strong><\/td>\n <\/td>\n<\/tr>\n \n <\/td>\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 <\/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 <\/td>\n<\/tr>\n \n Remeasurements of post-employment benefit obligations, net of tax<\/td>\n 70<\/td>\n <\/td>\n (68)<\/td>\n <\/td>\n 70<\/td>\n <\/td>\n (68)<\/td>\n <\/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 <\/td>\n<\/tr>\n \n Currency translation differences<\/td>\n (82)<\/td>\n <\/td>\n (17)<\/td>\n <\/td>\n (96)<\/td>\n <\/td>\n 121<\/td>\n <\/td>\n<\/tr>\n \n Total other comprehensive income\/(loss)<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>12)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>85)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>26)<\/strong><\/td>\n \u00a0<\/strong><\/td>\n \u20ac<\/strong>53 <\/strong><\/td>\n <\/td>\n<\/tr>\n \n Total comprehensive loss for the year, net of tax<\/strong><\/td>\n \u20ac<\/strong>(<\/strong>13,308)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>6,333)<\/strong><\/td>\n <\/td>\n \u20ac <\/strong>(31,251)<\/strong><\/td>\n <\/td>\n \u20ac<\/strong>(<\/strong>27,566)<\/strong><\/td>\n <\/td>\n<\/tr>\n \n