Presentation

Company Profile
Implantica is a MedTech company dedicated to bringing advanced medical implants into the body. The company completed listing on Nasdaq FN Premier Growth Market in Q3 of 2020. Implantica’s first product, RefluxStop™, will potentially create a paradigm shift in anti-reflux surgery as supported by the successful clinical trial results. The company is also developing two active implants in urinary incontinence and obesity – UriControl® and AppetiteControl™, which are both utilising Implantica's Wireless Energizing Platform - e-InVivo™. e-InVivo™ is designed to monitor a broad range of health parameters and provide diagnostic information with early detection of diseases as well as control treatment from inside the body.

Recent highlights
In Q2, net sales of EUR 115k significantly beat our forecast of EUR 80k. Most of the revenues in Q2 came from the DACH region, and the UK will start contributing in Q3. Implantica has filed the supplement to the pre-submission for RefluxStop™ to the FDA after the period and is in the process of starting animal testing of AppetiteControl™. The four-year follow-up data was not included but will be handed in later this autumn. To speed up the commercialisation of RefluxStop™, Implantica successfully raised approximately SEK 600m in a directed share issue.

Outlook
Although there are indications of improving market conditions, visibility for H2 2021 is still low, and so we cut our full-year sales forecast by 33%. We expect opex to continue to increase during H2 as the markets normalise, but at a slower pace than we previously projected. Thus, we raise our 2021 EBIT forecast by 7%. Implantica also announced that that it will perform a stock split, which we see as a defensive move to preserve the main shareholders’ voting power.