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Apollo Endosurgery, Inc. (NASDAQ:APEN) is set to announce its second quarter financial results for the period ending June 30, 2022, on August 2, 2022, after market close. A live audio call will take place at 3:30 p.m. CT to discuss these results, accessible via webcast or audio-only. Apollo specializes in minimally invasive medical devices for gastrointestinal and bariatric procedures, with products available in over 75 countries.
Apollo Endosurgery (NASDAQ:APEN) announced the appointment of Sharon O'Keefe to its Board of Directors, effective July 6, 2022. O'Keefe brings over 30 years of experience in healthcare, having previously served as President of the University of Chicago Medical Center. The company's CEO, Chas McKhann, expressed confidence that O'Keefe's background will enhance Apollo's leadership in therapeutic endoscopy. Additionally, Rick Anderson has retired from the Board after nearly a decade of service, marking a significant leadership transition.
Apollo Endosurgery (NASDAQ:APEN) presented significant clinical data at Digestive Disease Week 2022, highlighting its advanced endoscopic interventions, including the X-Tack, OverStitch, and Orbera devices. Notable findings include a 73% closure rate of colonic EMR defects using X-Tack, with only 1% experiencing delayed bleeding. Additionally, the Endoscopic Sleeve Gastroplasty (ESG) showed a 21% mean weight loss at 12 months among class III obesity patients. This data bolsters the company’s position in the minimally invasive medical devices market.
Apollo Endosurgery (NASDAQ: APEN) announced its participation in Digestive Disease Week 2022, showcasing over 100 academic presentations related to its products. Highlights include the MERIT study, presenting 5-year follow-up data for Endoscopic Sleeve Gastroplasty (ESG), indicating an excess body weight loss (EWL) of 49.2% at 12 months. The company has also submitted a De Novo classification request to the FDA for its ESG and REVISE devices. These advancements aim to enhance patient care through minimally invasive techniques.
Apollo Endosurgery reported a 20% growth in global revenue year-over-year for Q1 2022, reaching $16.7 million. The U.S. sales surged 33%, while gross margins improved to 56.3%. Notable product revenue increases included a 24% rise in Endoscopic Suturing System (ESS) sales and a 16% increase in Intragastric Balloon (IGB) sales. Despite operational challenges, net loss rose to $8.4 million from $4.6 million, indicating ongoing investments in growth strategies. The company has $82.7 million in cash reserves.
Apollo Endosurgery (Nasdaq:APEN) will release its first quarter financial results for 2022 on May 3, 2022, after market close. The company will host a live webcast audio call at 3:30 p.m. CT to discuss the results, accessible via their website. An audio-only option is available as well. Apollo specializes in minimally invasive medical devices for gastrointestinal and bariatric procedures, offering products in over 75 countries. A replay of the call will be available shortly after the event.
Apollo Endosurgery (NASDAQ:APEN) announced the addition of Jeannette Bankes to its Board of Directors, increasing board members to eight. Bankes, with over 30 years of leadership in healthcare, currently presides over the Global Surgical Franchise at Alcon, managing a $5 billion product portfolio. Her expertise spans product development and commercialization, critical for Apollo as it aims to enhance minimally invasive devices for gastrointestinal procedures. The company’s innovative approach positions it to address healthcare challenges effectively.
Apollo Endosurgery (NASDAQ:APEN) will host investor meetings on March 7-8, 2022, during the Cowen Healthcare Conference. CEO Chas McKhann and CFO Jeff Black will participate in a fireside chat on March 7 at 12:50 PM ET, available via webcast on their website. Apollo specializes in minimally invasive medical devices for gastrointestinal and bariatric procedures, with products offered in over 75 countries. Their innovative solutions aim to reduce healthcare costs and complications.
Apollo Endosurgery reported a notable 26% revenue growth in Q4 2021, reaching $16.2 million, despite COVID-19 impacts. Total 2021 revenue stood at $63.0 million, with gross margins at 56.3%. The company secured over $175 million in new capital and recorded significant growth in its Endoscopic Suturing System and Intragastric Balloon product lines. However, they faced increased operating expenses ($14.8 million) and a net loss of $10.4 million. Apollo forecasts 2022 revenue between $73 million and $75 million, reflecting a growth of 16%-19%.
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