Oventus Quarterly Business Review Q1 FY2020: Investing in Growth
Key highlights:
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Flagship device for the treatment of Obstructive Sleep Apnoea (OSA), the O2Vent® Optima granted FDA clearance in September
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Material contracts secured across 25 sites during quarter with first five sites deployed under ‘lab in lab’ business model in US and Canada in September
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A$9.3m cash injection received via oversubscribed capital raise. Funds raised being deployed into speeding up future customer site launches and supporting the growth of lab in lab program
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Cash receipts for September quarter A$87,000, in line with prior quarters; Company expects sales to increase in the December quarter as lab in lab customer sites come online
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Oventus strongly positioned to invest in growth and scale sales with further agreements expected to be announced throughout the remainder of CY 2019 and into CY2020
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