Apollo Endosurgery (NASDAQ: APEN) is set to release its financial results for the fourth quarter and full year ended December 31, 2021, on February 22, 2022, after market close. A live webcast discussing the results will be held at 3:30 p.m. CT / 4:30 p.m. ET. Investors can access the call via the company's website or by dialing +1-973-528-0011 for an audio-only option. Apollo specializes in minimally invasive medical devices for gastrointestinal procedures, with products available in over 75 countries.
Apollo Endosurgery has appointed Keely Scamperle as Vice President of Reimbursement & Market Access, effective January 17, 2022. With over 25 years of experience in healthcare policy and reimbursement, Scamperle aims to enhance patient access and market growth for Apollo's products. CEO Chas McKhann highlighted the importance of access alongside product development in addressing unmet clinical needs in gastroenterology and weight loss. Apollo is focused on less invasive solutions for gastrointestinal conditions, currently offered in over 75 countries and traded under the symbol APEN.
Apollo Endosurgery (NASDAQ:APEN) reported preliminary unaudited revenue results for Q4 and full-year 2021, highlighting a 25% revenue growth year-over-year in Q4, with total revenue between $16.1 million and $16.3 million. For the full year, revenue increased by 50% compared to 2020, totaling $62.9 million to $63.1 million. Growth was driven primarily by the endoscopic suturing (ESS) portfolio, which grew 37% to 38% in Q4 and 55% to 56% for the full year. The company anticipates releasing its comprehensive financial results and guidance on February 22, 2022.
Apollo Endosurgery, Inc. has secured a $100 million term loan financing agreement with Innovatus Capital Partners to refinance existing debt and lower interest expenses. The first $35 million will be used to retire Apollo's prior term debt, reducing cash requirements by nearly $30 million over the next three years. The new loan extends the amortization period by 33 months and allows interest-only payments for five years. Additional funds can be drawn upon achieving revenue milestones, providing Apollo strategic flexibility and growth capital.
Apollo Endosurgery, Inc. (NASDAQ:APEN) announced management's participation in four investor conferences. Key events include the Stifel 2021 Healthcare Conference on November 15, the Craig Hallum Alpha Select Conference on November 16, the Piper Sandler 2021 Healthcare Conference on November 30, and the Stephens Annual Investment Conference on December 3. Each conference will feature group presentations and opportunities for one-on-one virtual meetings for institutional investors. For more details, visit the Apollo Investor Relations website.
Apollo Endosurgery announced its Q3 2021 results, reporting total revenues of $16.4 million, a 28% increase from Q3 2020. Key revenue drivers included a 34% surge in Endoscopic Suturing System sales and a 21% increase in Intragastric Balloon sales. The company achieved a gross margin of 56% and reported a net loss of $6.7 million. Apollo completed a $75 million equity offering to support growth. They anticipate full-year 2021 revenue between $63-$64 million but remain cautious due to potential COVID-19 impacts on elective procedures.
Apollo Endosurgery (NASDAQ:APEN) published a multi-center study demonstrating the effectiveness of the X-Tack System in closing challenging gastrointestinal defects. Conducted across eight prominent U.S. medical centers, including the Mayo Clinic, the study highlighted a technical success rate of 89.2% with no serious adverse events. The mean defect size was 37mm, and 68% of defects were closed with a single X-Tack device. The study underscores the device's clinical and economic value, suggesting significant implications for patient care and healthcare costs.
Apollo Endosurgery, Inc. (NASDAQ:APEN) will release its third quarter financial results on November 1, 2021, post-market. A live webcast audio call is scheduled for 3:30 p.m. CT to discuss these results. Investors can access the call via Apollo's website or dial in using +1-973-528-0011. Apollo focuses on minimally invasive medical devices aimed at gastrointestinal and bariatric procedures, offering products in over 75 countries.
Apollo Endosurgery announced positive results from its MERIT trial for the Endoscopic Sleeve Gastroplasty (ESG) procedure. The trial achieved a 49.2% excess weight loss after 12 months and a 2% serious adverse event rate. ESG also significantly improved obesity-related health conditions such as diabetes and hypertension. The study involved 208 patients across nine US centers and demonstrated durable weight loss results even amid the pandemic.
With over 650 million people obese worldwide, ESG offers a new, safe, and effective treatment option.
Apollo Endosurgery (NASDAQ:APEN) has successfully closed its underwritten public offering, selling 9,660,000 shares at a price of $7.75 per share, resulting in gross proceeds of approximately $75 million. This included 1,260,000 shares from the underwriters exercising their option to purchase additional shares. The offering was conducted under a shelf registration statement effective since May 19, 2021. The funds raised are intended to support Apollo's ongoing development of less invasive medical devices and expand its market presence.