In a separate press release, Nyxoah
First quarter results are also known. The company from Mont-Saint-Guibert achieved a turnover of 185,000 euros, while there was no turnover in the first three months of 2020. The Genio system has been on European markets since July of last year. After deducting sales costs, a small gross profit of €133,000 remains.
However, the costs – overhead costs, for research and development, clinical trials, production, quality control, patents … – rose from 2.05 million to 5.32 million euros. Below the streak, Nixoah suffered a net loss of 5.7 million euros, more than double the previous year (2.1 million euros).
The cash position remains strong: Nyxoah had €86.2 million in cash at the end of March, compared to €92.3 million at the end of December. The company consumed 4.2 million euros in the first quarter, nearly four times what the company consumed a year earlier (1.2 million euros).
Important objectives for this year are to increase sales in the European Union and to establish a sales force in Germany. Nyxoah also plans to open a second production facility in Belgium, in addition to the current location in Israel. The third goal is to complete recruitment for Dream Genio research in the United States.
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