Saint-Priest, France, May 20, 2019 – 8h00 (CET) – Biom’up (the « Company »), specializing in surgical hemostasis, is providing for the first time, full-year 2019 guidance for global sales of HEMOBLAST Bellows (including its laparoscopic applicator) in the range of €4.0-4.5 million.
- Biom’up provides full-year 2019 guidance for global sales of HEMOBLAST Bellows in the range of €4.0-4.5 million
- 2019 operational expenditures forecasted to decrease significantly versus 2018
- Operational break-even on a quarterly basis expected during 2H 2021
The guidance for 2019 represents a more than seven-fold increase over the €627K total global sales of HEMOBLAST Bellows the Company reported in April that it recorded for all of 2018. HEMOBLAST Bellows’ early market penetration and strong demand remain targeted on key markets with large, multi-specialty, high-volume surgical centers of excellence. The Company will continue to focus its launch efforts to support these centers and to ensure sustainable growth and broad adoption of HEMOBLAST Bellows.
In terms of operational expenditures, and as previously communicated, the Company foresees its operating expenses decreasing significantly in 2019 as compared to 2018. As a result, the Company is now also able to forecast achieving EBITDA break-even on a quarterly basis during the second half of 2021.
“We worked diligently throughout 2018 to address all of the demands stemming from an earlier than expected FDA approval and launch for HEMOBLAST Bellows, which culminated in key senior commercial and manufacturing hires in early 2019,” said Etienne Binant, CEO of Biom’up. “Despite those early challenges, HEMOBLAST Bellows is still on track to meet or exceed expectations for its first full year of commercialization based on historical trends for new product launches in the hemostasis market. We are delighted by the penetration of new accounts and acceleration in sales of HEMOBLAST Bellows through the first quarter of 2019, which gives us confidence to provide our investors with a full-year 2019 guidance for global sales and, going forward, directional guidance on operational expenditures and EBITDA break-even.”
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