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Oventus Announce Appendix 4C and Quarterly Business Review

Oventus Quarterly Business Review Q1 FY2020: Investing in Growth

Key highlights:

  • Flagship device for the treatment of Obstructive Sleep Apnoea (OSA), the O2Vent® Optima granted FDA clearance in September
  • 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
  • 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
  • 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
  • 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
For further information please download the attached PDF: Download this document